Latin America and the Caribbean: Public Works Machinery Market 2024

Public Works Machinery Market Size in Latin America and the Caribbean

The Latin American public works machinery market rose rapidly to $X in 2022, surging by X% against the previous year. The total consumption indicated pronounced growth 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, consumption increased by X% against 2018 indices. Over the period under review, the market reached the peak level in 2022 and is likely to see gradual growth in years to come.

Public Works Machinery Production in Latin America and the Caribbean

In value terms, public works machinery production shrank modestly to $X in 2022 estimated in export price. In general, production, however, posted a prominent increase. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Public Works Machinery Exports

Exports in Latin America and the Caribbean

In 2022, shipments abroad of machinery for public works and building was finally on the rise to reach X units after two years of decline. Overall, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when exports increased by X% against the previous year. As a result, the exports reached the peak of X units. From 2018 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, public works machinery exports surged to $X in 2022. In general, exports, however, saw a noticeable downturn. The level of export peaked at $X in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

In 2022, Mexico (X units) was the major exporter of machinery for public works and building, constituting X% of total exports. It was distantly followed by Brazil (X units), mixing up a X% share of total exports. Costa Rica (X units) held a relatively small share of total exports.

Exports from Mexico increased at an average annual rate of X% from 2012 to 2022. At the same time, Costa Rica (X%) displayed positive paces of growth. Moreover, Costa Rica emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of X% from 2012-2022. By contrast, Brazil (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Mexico increased by X percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest public works machinery supplying countries in Latin America and the Caribbean were Mexico ($X), Brazil ($X) and Costa Rica ($X), with a combined X% share of total exports.

Among the main exporting countries, Costa Rica, with a CAGR of X%, recorded the highest growth rate of 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 2022, reducing by X% against the previous year. Over the period under review, the export price continues to indicate a pronounced curtailment. The most prominent rate of growth was recorded in 2018 when the export price increased by X%. As a result, the export price reached the peak level of $X per unit. From 2019 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Costa Rica ($X per unit), while Mexico ($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 (X%), while the other leaders experienced a decline in the export price figures.

Public Works Machinery Imports

Imports in Latin America and the Caribbean

In 2022, overseas purchases of machinery for public works and building increased by X% to X units, rising for the second consecutive year after two years of decline. Overall, imports recorded a noticeable increase. The most prominent rate of growth was recorded in 2021 when imports increased by X%. Over the period under review, imports hit record highs at X units in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, public works machinery imports expanded sharply to $X in 2022. Over the period under review, imports, however, recorded a abrupt slump. The most prominent rate of growth was recorded in 2017 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Brazil (X units) was the major importer of machinery for public works and building, making up X% of total imports. Mexico (X units) held the second position in the ranking, followed by Chile (X units) and Argentina (X units). All these countries together took near X% share of total imports. Peru (X units) and Colombia (X units) followed a long way behind the leaders.

Imports into Brazil increased at an average annual rate of X% from 2012 to 2022. At the same time, Argentina (X%), Mexico (X%), Peru (X%) and Chile (X%) displayed positive paces of growth. Moreover, Argentina 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%) illustrated a downward trend over the same period. While the share of Argentina (X p.p.), Mexico (X p.p.) and Chile (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Colombia (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) constitutes the largest market for imported machinery for public works and building in Latin America and the Caribbean, comprising X% of total imports. The second position in the ranking was taken by Brazil ($X), with an X% share of total imports. It was followed by Colombia, with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Mexico stood at X%. In the other countries, the average annual rates were as follows: Brazil (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, which is down by X% against the previous year. Over the period under review, the import price saw a deep contraction. The pace of growth appeared the most rapid in 2015 an increase of X%. The level of import peaked at $X per unit in 2017; however, from 2018 to 2022, import prices failed to regain momentum.

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 Colombia ($X per unit), while Brazil ($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 a decline in the import price figures.

Source: IndexBox Platform

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