Colombia: Market for Wiring sets used in vehicles, aircraft or ships 2023

Market Size for Wiring sets used in vehicles, aircraft or ships in Colombia

The Colombian market for wiring sets used in vehicles, aircraft or ships expanded significantly to $X in 2021, rising by 7.9% against the previous year. In general, the total consumption indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +5.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -6.7% against 2019 indices. Consumption of peaked at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Production of Wiring sets used in vehicles, aircraft or ships in Colombia

In value terms, production of wiring sets used in vehicles, aircraft or ships rose rapidly to $X in 2021 estimated in export price. Overall, the total production indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +5.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -6.9% against 2019 indices. The most prominent rate of growth was recorded in 2018 when the production volume increased by 22% against the previous year. Over the period under review, production of attained the maximum level at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Exports of Wiring sets used in vehicles, aircraft or ships

Exports from Colombia

In 2021, overseas shipments of wiring sets used in vehicles, aircraft or ships increased by 52% to X tons for the first time since 2017, thus ending a three-year declining trend. In general, exports, however, showed a abrupt slump. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, exports of wiring sets used in vehicles, aircraft or ships soared to $X in 2021. Over the period under review, exports, however, showed a abrupt downturn. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

The United States (X tons), Ecuador (X tons) and Chile (X tons) were the main destinations of exports of wiring sets used in vehicles, aircraft or ships from Colombia, together accounting for 98% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United States (with a CAGR of +91.8%), while the other leaders experienced a decline.

In value terms, the United States ($X) remains the key foreign market for wiring sets used in vehicles, aircraft or ships exports from Colombia, comprising 65% of total exports. The second position in the ranking was taken by Ecuador ($X), with a 32% share of total exports. It was followed by Chile, with a 1.7% share.

From 2012 to 2021, the average annual growth rate of value to the United States stood at +97.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ecuador (-22.7% per year) and Chile (-4.8% per year).

Export Prices by Country

In 2021, the average export price for wiring sets used in vehicles, aircraft or ships amounted to $X per ton, picking up by 51% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.6%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of destination: the country with the highest price was the United States ($X per ton), while the average price for exports to Panama ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Venezuela (+8.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Wiring sets used in vehicles, aircraft or ships

Imports into Colombia

Imports of wiring sets used in vehicles, aircraft or ships into Colombia soared to X tons in 2021, increasing by 53% on 2020. Overall, imports, however, faced a abrupt slump. The pace of growth was the most pronounced in 2015 with an increase of 215% against the previous year. Over the period under review, imports of reached the peak figure at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, imports of wiring sets used in vehicles, aircraft or ships skyrocketed to $X in 2021. Over the period under review, imports, however, showed a abrupt shrinkage. The growth pace was the most rapid in 2015 with an increase of 171%. Imports peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of wiring sets used in vehicles, aircraft or ships to Colombia, with a 47% share of total imports. Moreover, imports of wiring sets used in vehicles, aircraft or ships from China exceeded the figures recorded by the second-largest supplier, the United States (X tons), threefold. South Korea (X tons) ranked third in terms of total imports with a 9.3% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled +57.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-10.9% per year) and South Korea (-15.5% per year).

In value terms, China ($X), the United States ($X) and Brazil ($X) constituted the largest wiring sets used in vehicles, aircraft or ships suppliers to Colombia, with a combined 65% share of total imports.

China, with a CAGR of +67.1%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average import price for wiring sets used in vehicles, aircraft or ships amounted to $X per ton, approximately mirroring the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 23%. The import price peaked at $X per ton in 2019; however, from 2020 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was Romania ($X per ton), while the price for South Korea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Romania (+23.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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