Latin America and the Caribbean: Electrical Circuit Apparatus Market 2024

Electrical Circuit Apparatus Market Size in Latin America and the Caribbean

The Latin American electrical circuit apparatus market skyrocketed to $X in 2021, picking up by X% against the previous year. The market value increased at an average annual rate of X% from 2012 to 2021; however, the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Electrical Circuit Apparatus Production in Latin America and the Caribbean

In value terms, electrical circuit apparatus production shrank to $X in 2021 estimated in export price. In general, production, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 with an increase of X%. The level of production peaked at $X in 2020, and then reduced in the following year.

Electrical Circuit Apparatus Exports

Exports in Latin America and the Caribbean

In 2021, shipments abroad of electrical apparatus for circuit connection, switching and protection was finally on the rise to reach X units after two years of decline. Total exports indicated temperate growth from 2012 to 2021: its volume increased at an average annual rate of X% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, electrical circuit apparatus exports rose notably to $X in 2021. The total export value increased at an average annual rate of X% over the period from 2012 to 2021; however, the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The pace of growth was the most pronounced in 2018 when exports increased by X% against the previous year. As a result, the exports attained the peak of $X. From 2019 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Mexico dominates exports structure, accounting for X units, which was near X% of total exports in 2021. It was distantly followed by the Dominican Republic (X units) and Brazil (X units), together creating a X% share of total exports. Costa Rica (X units) took a little share of total exports.

From 2012 to 2021, average annual rates of growth with regard to electrical circuit apparatus exports from Mexico stood at X%. At the same time, the Dominican Republic (X%) and Brazil (X%) 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 X% from 2012-2021. By contrast, Costa Rica (X%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Mexico and the Dominican Republic 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 ($X) remains the largest electrical circuit apparatus supplier in Latin America and the Caribbean, comprising X% of total exports. The second position in the ranking was held by the Dominican Republic ($X), with a X% share of total exports. It was followed by Brazil, with a X% share.

In Mexico, electrical circuit apparatus exports increased at an average annual rate of X% over the period from 2012-2021. In the other countries, the average annual rates were as follows: the Dominican Republic (X% per year) and Brazil (X% per year).

Export Prices by Country

In 2021, the export price in Latin America and the Caribbean amounted to $X per unit, waning by X% against the previous year. Overall, the export price continues to indicate a mild decline. The most prominent rate of growth was recorded in 2013 when the export price increased by X%. Over the period under review, the export prices reached the maximum at $X per unit in 2018; however, from 2019 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the Dominican Republic ($X per unit), while Brazil ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Costa Rica (X%), while the other leaders experienced a decline in the export price figures.

Electrical Circuit Apparatus Imports

Imports in Latin America and the Caribbean

In 2021, the amount of electrical apparatus for circuit connection, switching and protection imported in Latin America and the Caribbean surged to X units, growing by X% on 2020 figures. Total imports indicated a resilient increase from 2012 to 2021: its volume increased at an average annual rate of X% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, electrical circuit apparatus imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of X% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Mexico dominates imports structure, reaching X units, which was approx. X% of total imports in 2021. It was distantly followed by Brazil (X units), constituting a X% share of total imports. The following importers - Colombia (X units), Chile (X units), Argentina (X units) and Peru (X units) - each reached a X% share of total imports.

Imports into Mexico increased at an average annual rate of X% from 2012 to 2021. At the same time, Chile (X%), Colombia (X%), Peru (X%) and Brazil (X%) displayed positive paces of growth. Moreover, Chile emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of X% from 2012-2021. Argentina experienced a relatively flat trend pattern. Mexico (X p.p.) significantly strengthened its position in terms of the total imports, while Brazil saw its share reduced by X% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) constitutes the largest market for imported electrical apparatus for circuit connection, switching and protection in Latin America and the Caribbean, comprising X% of total imports. The second position in the ranking was held by Brazil ($X), with a X% share of total imports. It was followed by Argentina, with a X% share.

From 2012 to 2021, the average annual growth rate of value in Mexico amounted to X%. In the other countries, the average annual rates were as follows: Brazil (X% per year) and Argentina (X% per year).

Import Prices by Country

In 2021, the import price in Latin America and the Caribbean amounted to $X per unit, waning by X% against the previous year. Overall, the import price recorded a pronounced descent. The most prominent rate of growth was recorded in 2020 when the import price increased by X%. The level of import peaked at $X per unit in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, 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 Argentina (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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