Latin America and the Caribbean: Market for Electrical Boards, Panels, Consoles, Desks and Cabinets 2024

Market Size for Electrical Boards, Panels, Consoles, Desks and Cabinets in Latin America and the Caribbean

The Latin American market for electrical boards, panels, consoles, desks and cabinets rose significantly to $X in 2023, increasing by X% against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Production of Electrical Boards, Panels, Consoles, Desks and Cabinets in Latin America and the Caribbean

In value terms, electric board, desk and panel production reached $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2022 to 2023, production growth failed to regain momentum.

Exports of Electrical Boards, Panels, Consoles, Desks and Cabinets

Exports in Latin America and the Caribbean

In 2023, overseas shipments of electrical boards, panels, consoles, desks and cabinets decreased by X% to X units, falling for the second year in a row after five years of growth. Overall, exports showed a slight downturn. The pace of growth was the most pronounced in 2021 when exports increased by X%. As a result, the exports attained the peak of X units. From 2022 to 2023, the growth of the exports remained at a lower figure.

In value terms, electric board, desk and panel exports reduced sharply to $X in 2023. Over the period under review, exports, however, continue to indicate a slight increase. The most prominent rate of growth was recorded in 2017 with an increase of X%. The level of export peaked at $X in 2022, and then contracted markedly in the following year.

Exports by Country

Mexico dominates exports structure, accounting for X units, which was near X% of total exports in 2023. The following exporters - Brazil (X units) and Colombia (X units) - together made up X% of total exports.

Mexico was also the fastest-growing in terms of the electrical boards, panels, consoles, desks and cabinets exports, with a CAGR of X% from 2012 to 2023. Brazil (X%) and Colombia (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Mexico increased by X percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

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

From 2012 to 2023, the average annual rate of growth in terms of value in Mexico totaled X%. In the other countries, the average annual rates were as follows: Brazil (X% per year) and Colombia (X% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per unit in 2023, surging by X% against the previous year. In general, the export price showed a measured increase. The most prominent rate of growth was recorded in 2022 an increase of X%. The level of export peaked at $X per unit in 2019; however, from 2020 to 2023, 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 Brazil ($X per unit), while Mexico ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Mexico (X%), while the other leaders experienced more modest paces of growth.

Imports of Electrical Boards, Panels, Consoles, Desks and Cabinets

Imports in Latin America and the Caribbean

Electric board, desk and panel imports expanded sharply to X units in 2023, surging by X% against 2022 figures. Total imports indicated a measured increase from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of X%. The volume of import peaked in 2023 and is expected to retain growth in the immediate term.

In value terms, electric board, desk and panel imports rose to $X in 2023. Total imports indicated a moderate expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, imports hit record highs in 2023 and are expected to retain growth in the near future.

Imports by Country

Mexico represented the main importing country with an import of around X units, which recorded X% of total imports. Chile (X units) took the second position in the ranking, distantly followed by Brazil (X units). All these countries together held near X% share of total imports. The following importers - Peru (X units), Colombia (X units), Guatemala (X units), Ecuador (X units), Panama (X units) and the Dominican Republic (X units) - together made up X% of total imports.

From 2012 to 2023, average annual rates of growth with regard to electric board, desk and panel imports into Mexico stood at X%. At the same time, Panama (X%), Guatemala (X%), Chile (X%), Brazil (X%) and Colombia (X%) displayed positive paces of growth. Moreover, Panama emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of X% from 2012-2023. Peru experienced a relatively flat trend pattern. By contrast, the Dominican Republic (X%) and Ecuador (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Mexico and Panama increased by X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) constitutes the largest market for imported electrical boards, panels, consoles, desks and cabinets in Latin America and the Caribbean, comprising X% of total imports. The second position in the ranking was taken by the Dominican Republic ($X), with a X% share of total imports. It was followed by Brazil, with an X% share.

In Mexico, electric board, desk and panel imports increased at an average annual rate of X% over the period from 2012-2023. The remaining importing countries recorded the following average annual rates of imports growth: the Dominican Republic (X% per year) and Brazil (X% per year).

Import Prices by Country

In 2023, the import price in Latin America and the Caribbean amounted to $X per unit, waning by X% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when the import price increased by X% against the previous year. As a result, import price attained the peak level of $X per unit. From 2015 to 2023, the import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was the Dominican Republic ($X per unit), while Chile ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the Dominican Republic (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform