Panama: Positive Displacement Pump Market 2024

Positive Displacement Pump Market Size in Panama

The Panamanian positive displacement pump market contracted modestly to $X in 2022, which is down by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption recorded a slight decline. Over the period under review, the market attained the maximum level at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Positive Displacement Pump Exports

Exports from Panama

In 2022, overseas shipments of positive displacement pumps and hand pumps decreased by X% to X units, falling for the second consecutive year after four years of growth. Over the period under review, exports recorded a deep slump. The most prominent rate of growth was recorded in 2019 when exports increased by X%. The exports peaked at X units in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, positive displacement pump exports amounted to $X in 2022. In general, exports recorded a abrupt descent. The growth pace was the most rapid in 2019 with an increase of X%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

The United States (X units), Venezuela (X units) and Ecuador (X units) were the main destinations of positive displacement pump exports from Panama, together accounting for X% of total exports. Honduras, Colombia, El Salvador, Haiti, Cuba, Chile, Belize, Peru and Costa Rica lagged somewhat behind, together comprising a further X%.

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

In value terms, Venezuela ($X), Ecuador ($X) and Honduras ($X) appeared to be the largest markets for positive displacement pump exported from Panama worldwide, with a combined X% share of total exports.

Among the main countries of destination, Honduras, with a CAGR of X%, 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 trend patterns.

Export Prices by Country

The average positive displacement pump export price stood at $X per unit in 2022, approximately equating the previous year. Over the period under review, the export price showed a pronounced setback. The most prominent rate of growth was recorded in 2016 when the average export price increased by X% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per unit in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Chile ($X per unit), while the average price for exports to the United States ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Chile (X%), while the prices for the other major destinations experienced a decline.

Positive Displacement Pump Imports

Imports into Panama

In 2022, overseas purchases of positive displacement pumps and hand pumps decreased by X% to X units, falling for the second consecutive year after three years of growth. Overall, imports saw a noticeable contraction. The pace of growth was the most pronounced in 2018 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure at X units in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, positive displacement pump imports fell slightly to $X in 2022. In general, imports saw a pronounced decline. The most prominent rate of growth was recorded in 2015 with an increase of X%. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X units) constituted the largest positive displacement pump supplier to Panama, with a X% share of total imports. Moreover, positive displacement pump imports from China exceeded the figures recorded by the second-largest supplier, Colombia (X units), sixfold. The United States (X units) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Colombia (X% per year) and the United States (X% per year).

In value terms, the largest positive displacement pump suppliers to Panama were Colombia ($X), China ($X) and Free Zones ($X), with a combined X% share of total imports.

Free Zones, with a CAGR of X%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average positive displacement pump import price stood at $X per unit in 2022, surging by X% against the previous year. Overall, the import price, however, continues to indicate a slight downturn. The pace of growth appeared the most rapid in 2015 when the average import price increased by X%. Over the period under review, average import prices attained the peak figure at $X per unit in 2017; however, from 2018 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Free Zones ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Free Zones (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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