Colombia: Boiler Parts Market 2024

Boiler Parts Market Size in Colombia

The Colombian boiler parts market expanded to $X in 2022, picking up by X% against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Boiler parts consumption peaked at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Boiler Parts Production in Colombia

In value terms, boiler parts production expanded to $X in 2022 estimated in export price. In general, the total production indicated a pronounced increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2016 with an increase of X%. Boiler parts production peaked at $X in 2017; however, from 2018 to 2022, production failed to regain momentum.

Boiler Parts Exports

Exports from Colombia

In 2022, approx. X kg of parts of boilers for central heating were exported from Colombia; approximately reflecting the year before. Overall, exports recorded a significant decrease. The most prominent rate of growth was recorded in 2020 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, boiler parts exports amounted to $X in 2022. In general, exports showed a sharp descent. The most prominent rate of growth was recorded in 2020 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

The Dominican Republic (X kg) was the main destination for boiler parts exports from Colombia, with a X% share of total exports. Moreover, boiler parts exports to the Dominican Republic exceeded the volume sent to the second major destination, Costa Rica (X kg), more than tenfold. The United States (X kg) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the Dominican Republic amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Costa Rica (X% per year) and the United States (X% per year).

In value terms, the Dominican Republic ($X), Costa Rica ($X) and the United States ($X) appeared to be the largest markets for boiler parts exported from Colombia worldwide, with a combined X% share of total exports.

In terms of the main countries of destination, the Dominican Republic, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

The average boiler parts export price stood at $X per ton in 2022, approximately reflecting the previous year. In general, the export price showed a relatively flat trend pattern. The growth pace was the most rapid in 2019 when the average export price increased by X%. Over the period under review, the average export prices reached the maximum at $X per ton in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Costa Rica ($X per ton), while the average price for exports to Panama ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Guatemala (X%), while the prices for the other major destinations experienced more modest paces of growth.

Boiler Parts Imports

Imports into Colombia

In 2022, boiler parts imports into Colombia reduced sharply to X tons, declining by X% on the year before. Overall, imports showed a abrupt slump. The pace of growth was the most pronounced in 2021 when imports increased by X% against the previous year. Imports peaked at X tons in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, boiler parts imports shrank markedly to $X in 2022. In general, imports, however, continue to indicate measured growth. The most prominent rate of growth was recorded in 2013 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) constituted the largest boiler parts supplier to Colombia, accounting for a X% share of total imports. Moreover, boiler parts imports from China exceeded the figures recorded by the second-largest supplier, the United States (X tons), threefold.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and Italy (X% per year).

In value terms, China ($X), the United States ($X) and Italy ($X) constituted the largest boiler parts suppliers to Colombia, with a combined X% share of total imports.

China, with a CAGR of X%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average boiler parts import price stood at $X per ton in 2022, with an increase of X% against the previous year. In general, the import price posted a resilient increase. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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