Latin America and the Caribbean: Microwave Oven Market 2024

Microwave Oven Market Size in Latin America and the Caribbean

The Latin American microwave oven market totaled $X in 2022, approximately mirroring the previous year. Over the period under review, consumption continues to indicate a mild decrease. Over the period under review, the market attained the maximum level at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Microwave Oven Production in Latin America and the Caribbean

In value terms, microwave oven production rose modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2013 with an increase of X%. As a result, production reached the peak level of $X. From 2014 to 2022, production growth failed to regain momentum.

Microwave Oven Exports

Exports in Latin America and the Caribbean

Microwave oven exports fell rapidly to X units in 2022, with a decrease of X% on the year before. Over the period under review, exports recorded a deep contraction. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, the exports attained the maximum at X units in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, microwave oven exports fell markedly to $X in 2022. Overall, exports saw a deep setback. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Panama (X units) and Guatemala (X units) prevails in exports structure, together achieving X% of total exports. It was distantly followed by Brazil (X units), mixing up a X% share of total exports. Chile (X units) and Ecuador (X units) followed a long way behind the leaders.

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

In value terms, the largest microwave oven supplying countries in Latin America and the Caribbean were Guatemala ($X), Chile ($X) and Panama ($X), together accounting for X% of total exports. Brazil and Ecuador lagged somewhat behind, together comprising a further X%.

Ecuador, with a CAGR of X%, recorded the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per unit in 2022, falling by X% against the previous year. Export price indicated a measured increase from 2012 to 2022: its price 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, microwave oven export price increased by X% against 2016 indices. The growth pace was the most rapid in 2021 an increase of X% against the previous year. As a result, the export price attained the peak level of $X per unit, and then contracted notably in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Chile ($X per unit), while Panama ($X per unit) was amongst the lowest.

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

Microwave Oven Imports

Imports in Latin America and the Caribbean

Microwave oven imports reduced to X units in 2022, shrinking by X% on the previous year. Over the period under review, imports continue to indicate a noticeable setback. The growth pace was the most rapid in 2021 with an increase of X%. The volume of import peaked at X units in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, microwave oven imports stood at $X in 2022. Overall, imports showed a slight reduction. The growth pace was the most rapid in 2021 with an increase of X%. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Mexico (X units) was the major importer of microwave ovens, mixing up X% of total imports. Chile (X units) held the second position in the ranking, followed by Colombia (X units) and Peru (X units). All these countries together took near X% share of total imports. The following importers - Ecuador (X units), Guatemala (X units), Costa Rica (X units), the Dominican Republic (X units), Honduras (X units), Uruguay (X units) and Venezuela (X units) - together made up X% of total imports.

From 2012 to 2022, average annual rates of growth with regard to microwave oven imports into Mexico stood at X%. At the same time, the Dominican Republic (X%), Honduras (X%), Guatemala (X%), Costa Rica (X%), Chile (X%) and Ecuador (X%) displayed positive paces of growth. Moreover, the Dominican Republic emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of X% from 2012-2022. Peru experienced a relatively flat trend pattern. By contrast, Uruguay (X%), Colombia (X%) and Venezuela (X%) illustrated a downward trend over the same period. While the share of Mexico (X p.p.), Chile (X p.p.) and the Dominican Republic (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Venezuela (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) constitutes the largest market for imported microwave ovens in Latin America and the Caribbean, comprising X% of total imports. The second position in the ranking was taken by Chile ($X), with a X% share of total imports. It was followed by Colombia, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Mexico totaled X%. The remaining importing countries recorded the following average annual rates of imports growth: Chile (X% per year) and Colombia (X% per year).

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per unit in 2022, with an increase of X% against the previous year. Over the last decade, it increased at an average annual rate of X%. Over the period under review, import prices attained the peak figure at $X per unit in 2018; however, from 2019 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the Dominican Republic ($X per unit), while Honduras ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Costa Rica (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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