Panama: Accumulator Market 2024

Accumulator Market Size in Panama

The Panamanian accumulator market reduced to $X in 2022, remaining constant against the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the maximum level at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Accumulator Production in Panama

In value terms, accumulator production expanded notably to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a perceptible slump. The growth pace was the most rapid in 2020 when the production volume increased by X% against the previous year. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Accumulator Exports

Exports from Panama

In 2022, accumulator exports from Panama contracted markedly to X units, which is down by X% against the previous year's figure. Overall, exports showed a mild decline. The pace of growth was the most pronounced in 2019 when exports increased by X% against the previous year. As a result, the exports reached the peak of X units. From 2020 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, accumulator exports surged to $X in 2022. In general, exports showed a deep setback. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Mexico (X units), Venezuela (X units) and El Salvador (X units) were the main destinations of accumulator exports from Panama, together comprising X% of total exports. Cuba, Costa Rica, Jamaica, Peru, the United States, Haiti, Bolivia, Suriname, Colombia and Chile lagged somewhat behind, together accounting for a further X%.

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

In value terms, the largest markets for accumulator exported from Panama were Cuba ($X), Mexico ($X) and Costa Rica ($X), with a combined X% share of total exports. Venezuela, Peru, El Salvador, Jamaica, the United States, Bolivia, Haiti, Colombia, Suriname and Chile lagged somewhat behind, together accounting for a further X%.

Bolivia, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average accumulator export price stood at $X per unit in 2022, rising by X% against the previous year. Over the period under review, the export price, however, recorded a deep slump. The export price peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Cuba ($X per unit), while the average price for exports to El Salvador ($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 Haiti (X%), while the prices for the other major destinations experienced a decline.

Accumulator Imports

Imports into Panama

In 2022, overseas purchases of electric accumulators decreased by X% to X units, falling for the third consecutive year after three years of growth. Over the period under review, imports, however, continue to indicate a buoyant increase. The growth pace was the most rapid in 2013 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at X units in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, accumulator imports declined slightly to $X in 2022. In general, imports, however, recorded a prominent increase. The pace of growth was the most pronounced in 2013 when imports increased by X%. Imports peaked at $X in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X units) constituted the largest accumulator supplier to Panama, accounting for a X% share of total imports. Moreover, accumulator imports from China exceeded the figures recorded by the second-largest supplier, Colombia (X units), twofold. South Korea (X units) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Colombia (X% per year) and South Korea (X% per year).

In value terms, the largest accumulator suppliers to Panama were China ($X), Colombia ($X) and the United States ($X), together accounting for X% of total imports.

Colombia, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, in terms of 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 accumulator import price stood at $X per unit in 2022, increasing by X% against the previous year. Overall, import price indicated a resilient expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, accumulator import price increased by X% against 2020 indices. The pace of growth was the most pronounced in 2013 an increase of X%. The import price peaked in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2022, 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 Hong Kong SAR (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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