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 contracted to $X in 2021, with a decrease of -14.3% against the previous year. The total consumption indicated a notable increase from 2012 to 2021: its value increased at an average annual rate of +2.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +19.3% against 2015 indices. Over the period under review, the market attained the peak level at $X in 2020, and then fell in the following year.

Metal Gas Appliances Production in Latin America and the Caribbean

In value terms, metal gas appliances production dropped to $X in 2021 estimated in export price. The total production indicated a pronounced expansion from 2012 to 2021: its value increased at an average annual rate of +2.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +19.8% against 2015 indices. The most prominent rate of growth was recorded in 2015 with an increase of 43%. The level of production peaked at $X in 2020, and then declined in the following year.

Metal Gas Appliances Exports

Exports in Latin America and the Caribbean

In 2021, the amount of iron or steel gas domestic appliances exported in Latin America and the Caribbean shrank to X units, with a decrease of -10.7% against the previous year. Over the period under review, exports faced a deep contraction. The most prominent rate of growth was recorded in 2019 with an increase of 12%. The volume of export peaked at X units in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, metal gas appliances exports declined to $X in 2021. Overall, exports faced a abrupt shrinkage. The most prominent rate of growth was recorded in 2019 with an increase of 4.6%. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

The shipments of the three major exporters of iron or steel gas domestic appliances, namely Panama, Argentina and Mexico, represented more than two-thirds of total export. Brazil (X units) ranks next in terms of the total exports with a 14% share, followed by the Dominican Republic (4.6%). Colombia (X units) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by the Dominican Republic (with a CAGR of +109.2%), while the other leaders experienced mixed trends in the exports figures.

In value terms, Mexico ($X), Panama ($X) and Brazil ($X) constituted the countries with the highest levels of exports in 2021, together accounting for 83% of total exports. Argentina, the Dominican Republic and Colombia lagged somewhat behind, together accounting for a further 15%.

In terms of the main exporting countries, the Dominican Republic, with a CAGR of +92.0%, saw the highest rates of growth with regard to the value of exports, 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 2021, almost unchanged from the previous year. Overall, the export price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 when the export price increased by 42% against the previous year. The level of export peaked at $X per unit in 2017; however, from 2018 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Mexico ($X per unit), while Colombia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Brazil (+11.2%), while the other leaders experienced mixed trends in the export price figures.

Metal Gas Appliances Imports

Imports in Latin America and the Caribbean

In 2021, metal gas appliances imports in Latin America and the Caribbean surged to X units, picking up by 16% on 2020 figures. Over the period under review, imports, however, continue to indicate a abrupt shrinkage. The pace of growth appeared the most rapid in 2019 with an increase of 18%. The volume of import peaked at X units in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

In value terms, metal gas appliances imports rose notably to $X in 2021. The total import value increased at an average annual rate of +1.6% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2018 when imports increased by 25% against the previous year. The level of import peaked at $X in 2019; however, from 2020 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Panama (X units) and Chile (X units) represented the largest importers of iron or steel gas domestic appliances in Latin America and the Caribbean, together reaching approx. 66% of total imports. Mexico (X units) ranks next in terms of the total imports with a 9.9% share, followed by Nicaragua (5.1%). The following importers - Guatemala (X units), Bolivia (X units) and Uruguay (X units) - together made up 11% of total imports.

From 2012 to 2021, the biggest increases were in Nicaragua (with a CAGR of +54.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Chile ($X), Mexico ($X) and Panama ($X) were the countries with the highest levels of imports in 2021, together comprising 66% of total imports. These countries were followed by Uruguay, Bolivia, Nicaragua and Guatemala, which together accounted for a further 12%.

Among the main importing countries, Nicaragua, with a CAGR of +12.4%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in Latin America and the Caribbean amounted to $X per unit, waning by -2.5% against the previous year. Over the period under review, the import price, however, saw strong growth. The growth pace was the most rapid in 2016 when the import price increased by 314%. Over the period under review, import prices attained the maximum at $X per unit in 2019; however, from 2020 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Mexico ($X per unit), while Panama ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Chile (+21.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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