Latin America and the Caribbean: Special Vehicle Body Market 2024

Special Vehicle Body Market Size in Latin America and the Caribbean

The Latin American special vehicle body market contracted to $X in 2022, with a decrease of 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 remained relatively stable, with only minor fluctuations in certain years. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Special Vehicle Body Production in Latin America and the Caribbean

In value terms, special vehicle body production shrank modestly to $X in 2022 estimated in export price. In general, production, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 with an increase of X% against the previous year. Over the period under review, production reached the maximum level at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

Special Vehicle Body Exports

Exports in Latin America and the Caribbean

In 2022, shipments abroad of bodies for special purpose motor vehicles increased by X% to X units, rising for the second year in a row after two years of decline. Overall, exports saw slight growth. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the immediate term.

In value terms, special vehicle body exports skyrocketed to $X in 2022. Total exports indicated a notable 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, exports increased by X% against 2020 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Mexico represented the key exporting country with an export of around X units, which accounted for X% of total exports. Brazil (X units) held a X% share (based on physical terms) of total exports, which put it in second place, followed by Chile (X%).

From 2012 to 2022, the biggest increases were recorded for Brazil (with a CAGR of X%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, Brazil ($X) remains the largest special vehicle body supplier in Latin America and the Caribbean, comprising X% of total exports. The second position in the ranking was held by Mexico ($X), with a X% share of total exports.

In Brazil, special vehicle body exports expanded at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Mexico (X% per year) and Chile (X% per year).

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per unit, surging by X% against the previous year. In general, the export price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 when the export price increased by X% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2020 to 2022, the export prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Brazil ($X per unit), while Chile ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (X%), while the other leaders experienced a decline in the export price figures.

Special Vehicle Body Imports

Imports in Latin America and the Caribbean

Special vehicle body imports surged to X units in 2022, picking up by X% compared with the year before. Total imports indicated a tangible expansion from 2012 to 2022: its volume 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. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, special vehicle body imports soared to $X in 2022. Total imports indicated a measured expansion 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, imports increased by X% against 2020 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Mexico represented the largest importing country with an import of around X units, which recorded X% of total imports. Brazil (X units) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Argentina (X%), Colombia (X%), Uruguay (X%) and Chile (X%). Bahamas (X units) followed a long way behind the leaders.

Mexico experienced a relatively flat trend pattern with regard to volume of imports of bodies for special purpose motor vehicles. At the same time, Uruguay (X%), Argentina (X%), Chile (X%) and Brazil (X%) displayed positive paces of growth. Moreover, Uruguay emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of X% from 2012-2022. By contrast, Colombia (X%) and Bahamas (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Argentina, Uruguay and Chile increased by X, X and X percentage points, respectively.

In value terms, Argentina ($X), Brazil ($X) and Mexico ($X) constituted the countries with the highest levels of imports in 2022, with a combined X% share of total imports. Colombia, Uruguay, Chile and Bahamas lagged somewhat behind, together accounting for a further X%.

Uruguay, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Latin America and the Caribbean amounted to $X per unit, waning by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2019 when the import price increased by X%. As a result, import price attained the peak level of $X per unit. From 2020 to 2022, the import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Argentina ($X per unit), while Bahamas ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Colombia (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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