Latin America and the Caribbean: Electric Rotary Converter Market 2024

Electric Rotary Converter Market Size in Latin America and the Caribbean

The Latin American electric rotary converter market reduced markedly to $X in 2021, which is down by -38.8% against the previous year. Over the period under review, consumption saw a abrupt decrease. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Electric Rotary Converter Production in Latin America and the Caribbean

In value terms, electric rotary converter production reached $X in 2021 estimated in export price. Over the period under review, production, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2013 with an increase of 24%. Over the period under review, production hit record highs at $X in 2014; however, from 2015 to 2021, production stood at a somewhat lower figure.

Electric Rotary Converter Exports

Exports in Latin America and the Caribbean

Electric rotary converter exports skyrocketed to X units in 2021, with an increase of 268% compared with the previous year. Over the period under review, exports continue to indicate buoyant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, electric rotary converter exports surged to $X in 2021. In general, exports continue to indicate strong growth. The growth pace was the most rapid in 2017 when exports increased by 459% against the previous year. As a result, the exports attained the peak of $X. From 2018 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

In 2021, Mexico (X units) was the key exporter of electric rotary converters, mixing up 87% of total exports. It was distantly followed by the Dominican Republic (X units), mixing up an 11% share of total exports.

Exports from Mexico increased at an average annual rate of +13.4% from 2012 to 2021. At the same time, the Dominican Republic (+23.3%) displayed positive paces of growth. Moreover, the Dominican Republic emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +23.3% from 2012-2021. The Dominican Republic (+5.7 p.p.) significantly strengthened its position in terms of the total exports, while Mexico saw its share reduced by -3.6% from 2012 to 2021, respectively.

In value terms, the largest electric rotary converter supplying countries in Latin America and the Caribbean were the Dominican Republic ($X) and Mexico ($X).

Among the main exporting countries, the Dominican Republic, with a CAGR of +32.3%, saw the highest growth rate of the value of exports, over the period under review.

Export Prices by Country

In 2021, the export price in Latin America and the Caribbean amounted to $X per unit, falling by -25.3% against the previous year. In general, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the export price increased by 220%. As a result, the export price attained the peak level of $X per unit. From 2018 to 2021, the export prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Dominican Republic (+7.2%).

Electric Rotary Converter Imports

Imports in Latin America and the Caribbean

In 2021, approx. X units of electric rotary converters were imported in Latin America and the Caribbean; which is down by -3.1% compared with 2020. In general, imports showed a dramatic contraction. The pace of growth appeared the most rapid in 2019 with an increase of 89% against the previous year. The volume of import peaked at X units in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, electric rotary converter imports reduced to $X in 2021. Overall, imports recorded a abrupt downturn. The most prominent rate of growth was recorded in 2017 with an increase of 72% against the previous year. As a result, imports reached the peak of $X. From 2018 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

Mexico represented the key importer of electric rotary converters in Latin America and the Caribbean, with the volume of imports reaching X units, which was approx. 46% of total imports in 2021. Guatemala (X units) took the second position in the ranking, followed by Honduras (X units), Chile (X units) and Haiti (X units). All these countries together held approx. 33% share of total imports. The following importers - Brazil (X units), El Salvador (X units), Panama (X units) and Paraguay (X units) - together made up 13% of total imports.

From 2012 to 2021, average annual rates of growth with regard to electric rotary converter imports into Mexico stood at -33.2%. At the same time, Paraguay (+30.8%), Guatemala (+23.2%), Chile (+14.8%), Haiti (+12.4%) and Honduras (+8.4%) displayed positive paces of growth. Moreover, Paraguay emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +30.8% from 2012-2021. El Salvador experienced a relatively flat trend pattern. By contrast, Panama (-6.8%) and Brazil (-24.0%) illustrated a downward trend over the same period. While the share of Guatemala (+14 p.p.), Honduras (+7.1 p.p.), Chile (+6.9 p.p.), Haiti (+4.8 p.p.), El Salvador (+3.5 p.p.), Panama (+3.1 p.p.) and Paraguay (+2 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Mexico (-49.5 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) constitutes the largest market for imported electric rotary converters in Latin America and the Caribbean, comprising 21% of total imports. The second position in the ranking was held by Mexico ($X), with a 10% share of total imports. It was followed by Guatemala, with an 8.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Brazil amounted to -9.6%. In the other countries, the average annual rates were as follows: Mexico (-21.2% per year) and Guatemala (+6.8% per year).

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per unit in 2021, waning by -10.8% against the previous year. Overall, the import price, however, showed significant growth. The most prominent rate of growth was recorded in 2013 when the import price increased by 1,263% against the previous year. As a result, import price reached the peak level of $X per unit. From 2014 to 2021, the import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Brazil ($X per unit), while Mexico ($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 (+19.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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