Latin America and the Caribbean: Test Bench Market 2024

Test Bench Market Size in Latin America and the Caribbean

The Latin American test bench market declined modestly to $X.7B in 2022, dropping by X% against the previous year. In general, consumption, however, enjoyed prominent growth. Over the period under review, the market hit record highs at $X.6B in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Test Bench Production in Latin America and the Caribbean

In value terms, test bench production declined to $X.8B in 2022 estimated in export price. Overall, production, however, posted a strong increase. The most prominent rate of growth was recorded in 2018 with an increase of X%. Over the period under review, production hit record highs at $X.5B in 2019; however, from 2020 to 2022, production failed to regain momentum.

Test Bench Exports

Exports in Latin America and the Caribbean

In 2022, the amount of test benches exported in Latin America and the Caribbean declined to X units, waning by X% compared with 2021. In general, exports, however, enjoyed a resilient increase. The most prominent rate of growth was recorded in 2015 when exports increased by X% against the previous year. As a result, the exports reached the peak of X units. From 2016 to 2022, the growth of the exports remained at a lower figure.

In value terms, test bench exports soared to $X in 2022. Overall, exports, however, saw strong growth. The most prominent rate of growth was recorded in 2017 with an increase of X%. The level of export peaked at $X in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

Exports by Country

The shipments of the three major exporters of test benches, namely Brazil, Chile and Mexico, represented more than two-thirds of total export.

From 2012 to 2022, the biggest increases were recorded for Chile (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X) remains the largest test bench supplier in Latin America and the Caribbean, comprising X% of total exports. The second position in the ranking was held by Brazil ($X), with a X% share of total exports.

In Mexico, test bench exports increased at an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Brazil (X% per year) and Chile (X% per year).

Export Prices by Country

The export 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 period under review, the export price saw a relatively flat trend pattern. The growth pace was the most rapid in 2016 when the export price increased by X%. Over the period under review, the export prices reached the maximum at $X per unit in 2020; however, from 2021 to 2022, the export prices remained at a lower figure.

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 Mexico ($X per unit), while Chile ($X per unit) was amongst the lowest.

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

Test Bench Imports

Imports in Latin America and the Caribbean

In 2022, the amount of test benches imported in Latin America and the Caribbean skyrocketed to X units, picking up by X% compared with 2021 figures. Over the period under review, imports posted buoyant growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, test bench imports skyrocketed to $X in 2022. In general, imports, however, showed a perceptible curtailment. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Imports by Country

Brazil was the key importer of test benches in Latin America and the Caribbean, with the volume of imports reaching X units, which was near X% of total imports in 2022. It was distantly followed by Mexico (X units), creating a X% share of total imports. The following importers - Ecuador (X units), Argentina (X units), Colombia (X units) and Peru (X units) - together made up X% of total imports.

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

In value terms, Brazil ($X), Mexico ($X) and Argentina ($X) were the countries with the highest levels of imports in 2022, with a combined X% share of total imports. Colombia, Ecuador and Peru lagged somewhat behind, together comprising a further X%.

Ecuador, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced a decline in the imports figures.

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per unit in 2022, waning by X% against the previous year. Over the period under review, the import price showed a deep contraction. The pace of growth appeared the most rapid in 2016 an increase of X%. Over the period under review, import prices attained the peak figure at $X per unit in 2017; however, from 2018 to 2022, import prices stood at a somewhat 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 Argentina ($X per unit), while Brazil ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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