Report Update Apr 1, 2024

Cuba - Electrical Parts of Machinery or Apparatus - Market Analysis, Forecast, Size, Trends and Insights

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Cuba: Machinery Electrical Parts Market 2022

Machinery Electrical Parts Market Size in Cuba

In 2021, after three years of decline, there was significant growth in the Cuban machinery electrical parts market, when its value increased by 13% to $X. In general, consumption posted mild growth. Over the period under review, the market reached the maximum level at $X in 2017; however, from 2018 to 2021, consumption failed to regain momentum.

Machinery Electrical Parts Production in Cuba

In value terms, machinery electrical parts production expanded notably to $X in 2021 estimated in export price. Overall, production saw a temperate expansion. The pace of growth was the most pronounced in 2015 when the production volume increased by 74% against the previous year. Over the period under review, production attained the maximum level at $X in 2017; however, from 2018 to 2021, production remained at a lower figure.

Machinery Electrical Parts Exports

Exports from Cuba

In 2017, approx. X kg of electrical parts of machinery or apparatus were exported from Cuba; therefore, remained relatively stable against the year before. Overall, exports saw a precipitous shrinkage. The exports peaked at X kg in 2013; however, from 2014 to 2017, the exports stood at a somewhat lower figure.

In value terms, machinery electrical parts exports totaled $X in 2017. Over the period under review, exports faced a precipitous shrinkage. The exports peaked at $X in 2013; however, from 2014 to 2017, the exports failed to regain momentum.

Exports by Country

The Netherlands (X kg) was the main destination for machinery electrical parts exports from Cuba, accounting for a approx. 100% share of total exports.

From 2013 to 2017, the average annual rate of growth in terms of volume to the Netherlands was relatively modest.

From 2013 to 2017, the average annual growth rate of value to the Netherlands amounted to -22.5%.

Export Prices by Country

The average machinery electrical parts export price stood at $X per ton in 2017, flattening at the previous year. Overall, the export price recorded pronounced growth. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

As there is only one major export destination, the average price level is determined by prices for the Netherlands.

From 2013 to 2017, the rate of growth in terms of prices for the Netherlands amounted to 0.0% per year.

Machinery Electrical Parts Imports

Imports into Cuba

In 2021, approx. X tons of electrical parts of machinery or apparatus were imported into Cuba; rising by 34% on the year before. Over the period under review, imports recorded a strong expansion. The most prominent rate of growth was recorded in 2018 when imports increased by 590% against the previous year. Imports peaked in 2021 and are likely to see steady growth in the near future.

In value terms, machinery electrical parts imports declined modestly to $X in 2021. Overall, imports saw a relatively flat trend pattern. The growth pace was the most rapid in 2019 when imports increased by 667%. Imports peaked at $X in 2020, and then shrank modestly in the following year.

Imports by Country

Japan (X tons), Turkey (X tons) and Spain (X kg) were the main suppliers of machinery electrical parts imports to Cuba, with a combined 85% share of total imports. China, South Korea, Canada and Brazil lagged somewhat behind, together accounting for a further 13%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Brazil (with a CAGR of +3,433.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) constituted the largest supplier of machinery electrical parts to Cuba, comprising 67% of total imports. The second position in the ranking was taken by Spain ($X), with an 8.3% share of total imports. It was followed by China, with a 5.5% share.

From 2012 to 2021, the average annual growth rate of value from Japan stood at +31.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+31.0% per year) and China (+5.8% per year).

Import Prices by Country

The average machinery electrical parts import price stood at $X per ton in 2021, falling by -28.1% against the previous year. Over the period under review, the import price saw a deep setback. The pace of growth was the most pronounced in 2016 an increase of 206%. As a result, import price attained the peak level of $X per ton. From 2017 to 2021, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Japan ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+12.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for electrical parts of machinery or apparatus in the world?

China remains the largest machinery electrical parts consuming country worldwide, accounting for 17% of total volume. Moreover, machinery electrical parts consumption in China exceeded the figures recorded by the second-largest consumer, the United States, twofold. The third position in this ranking was taken by India, with a 6.7% share.

What are the largest producers of electrical parts of machinery or apparatus in the world?

China remains the largest machinery electrical parts producing country worldwide, comprising approx. 19% of total volume. Moreover, machinery electrical parts production in China exceeded the figures recorded by the second-largest producer, the United States, twofold. The third position in this ranking was taken by India, with a 6.9% share.

What are the leading suppliers of electrical parts of machinery or apparatus to Cuba?

In value terms, Japan constituted the largest supplier of machinery electrical parts to Cuba, comprising 67% of total imports. The second position in the ranking was taken by Spain, with an 8.3% share of total imports. It was followed by China, with a 5.5% share.

What is the average export price for electrical parts of machinery or apparatus in Cuba?

In 2017, the average machinery electrical parts export price amounted to $37,645 per ton, remaining stable against the previous year.

What is the average import price for electrical parts of machinery or apparatus in Cuba?

In 2021, the average machinery electrical parts import price amounted to $196,879 per ton, waning by -28.1% against the previous year.

This report provides an in-depth analysis of the machinery electrical parts market in Cuba. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 27903390 - Electrical parts of machinery or apparatus, n.e.c.

Country coverage:

Cuba

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Cuba
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023