Latin America and the Caribbean: Metal Gas Appliances Market 2023

Metal Gas Appliances Market Size in Latin America and the Caribbean

The Latin American metal gas appliances market stood at $X in 2022, growing by 3.5% against the previous year. Over the period under review, consumption, however, showed a noticeable decline. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market failed to regain momentum.

Metal Gas Appliances Production in Latin America and the Caribbean

In value terms, metal gas appliances production expanded modestly to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a noticeable decline. The pace of growth appeared the most rapid in 2018 with an increase of 68% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2022, production growth remained at a somewhat lower figure.

Metal Gas Appliances Exports

Exports in Latin America and the Caribbean

In 2022, shipments abroad of iron or steel gas domestic appliances was finally on the rise to reach X units for the first time since 2019, thus ending a two-year declining trend. Overall, exports, however, saw a abrupt contraction. Over the period under review, the exports hit record highs at X units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, metal gas appliances exports skyrocketed to $X in 2022. Over the period under review, exports, however, continue to indicate a abrupt curtailment. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

In 2022, Mexico (X units) was the major exporter of iron or steel gas domestic appliances, committing 38% of total exports. Panama (X units) held a 21% share (based on physical terms) of total exports, which put it in second place, followed by Argentina (20%), Brazil (9.4%) and Peru (8%).

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Peru (with a CAGR of +42.3%), while the other leaders experienced mixed trends in the exports figures.

In value terms, the largest metal gas appliances supplying countries in Latin America and the Caribbean were Mexico ($X), Panama ($X) and Argentina ($X), with a combined 82% share of total exports. Brazil and Peru lagged somewhat behind, together comprising a further 17%.

Peru, with a CAGR of +9.9%, recorded the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per unit, reducing by -12.8% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.7%. The pace of growth appeared the most rapid in 2015 an increase of 28% against the previous year. Over the period under review, the export prices hit record highs at $X per unit in 2021, and then reduced in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+16.1%), while the other leaders experienced mixed trends in the export price figures.

Metal Gas Appliances Imports

Imports in Latin America and the Caribbean

In 2022, purchases abroad of iron or steel gas domestic appliances increased by 5.9% to X units, rising for the second consecutive year after two years of decline. Total imports indicated a notable expansion from 2012 to 2022: its volume increased at an average annual rate of +4.0% 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 +31.2% against 2020 indices. The most prominent rate of growth was recorded in 2018 with an increase of 61% against the previous year. As a result, imports attained the peak of X units. From 2019 to 2022, the growth of imports remained at a lower figure.

In value terms, metal gas appliances imports soared to $X in 2022. The total import value increased at an average annual rate of +2.9% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Chile (X units) was the main importer of iron or steel gas domestic appliances, comprising 53% of total imports. Mexico (X units) took a 14% share (based on physical terms) of total imports, which put it in second place, followed by Bolivia (9.7%), Uruguay (6.6%) and Argentina (5.8%). The following importers - Panama (X units) and Peru (X units) - each accounted for a 4.1% share of total imports.

Imports into Chile increased at an average annual rate of +6.5% from 2012 to 2022. At the same time, Bolivia (+17.1%), Argentina (+14.4%), Mexico (+6.5%), Peru (+2.6%) and Panama (+2.3%) displayed positive paces of growth. Moreover, Bolivia emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +17.1% from 2012-2022. By contrast, Uruguay (-5.9%) illustrated a downward trend over the same period. While the share of Chile (+11 p.p.), Bolivia (+6.8 p.p.), Argentina (+3.6 p.p.) and Mexico (+3 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Uruguay (-11.4 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Chile ($X) constitutes the largest market for imported iron or steel gas domestic appliances in Latin America and the Caribbean, comprising 51% of total imports. The second position in the ranking was taken by Mexico ($X), with a 17% share of total imports. It was followed by Argentina, with a 5.3% share.

From 2012 to 2022, the average annual growth rate of value in Chile stood at +4.9%. The remaining importing countries recorded the following average annual rates of imports growth: Mexico (+4.1% per year) and Argentina (+22.4% per year).

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per unit in 2022, surging by 21% against the previous year. In general, the import price, however, showed a mild slump. The pace of growth was the most pronounced in 2019 an increase of 27% against the previous year. The level of import peaked at $X per unit in 2016; however, from 2017 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 Panama ($X per unit), while Bolivia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Argentina (+7.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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