Latin America and the Caribbean: Bed-Convertible Seat Market 2024

Bed-Convertible Seat Market Size in Latin America and the Caribbean

The Latin American bed-convertible seat market contracted slightly to $X in 2023, reducing by X% against the previous year. The total consumption indicated noticeable growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption decreased by X% against 2019 indices. Over the period under review, the market reached the maximum level at $X in 2019; however, from 2020 to 2023, consumption failed to regain momentum.

Bed-Convertible Seat Production in Latin America and the Caribbean

In value terms, bed-convertible seat production dropped slightly to $X in 2023 estimated in export price. The total production indicated a prominent expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production increased by X% against 2021 indices. The pace of growth was the most pronounced in 2013 when the production volume increased by X%. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2023, production remained at a lower figure.

Bed-Convertible Seat Exports

Exports in Latin America and the Caribbean

In 2023, approx. X units of seats convertible into beds were exported in Latin America and the Caribbean; picking up by X% compared with the previous year. In general, exports, however, showed a sharp decline. The pace of growth appeared the most rapid in 2020 when exports increased by X%. The volume of export peaked at X units in 2021; however, from 2022 to 2023, the exports stood at a somewhat lower figure.

In value terms, bed-convertible seat exports totaled $X in 2023. Overall, exports, however, continue to indicate a dramatic setback. The pace of growth was the most pronounced in 2019 with an increase of X% against the previous year. Over the period under review, the exports reached the maximum at $X in 2021; however, from 2022 to 2023, the exports remained at a lower figure.

Exports by Country

The Dominican Republic represented the main exporter of seats convertible into beds in Latin America and the Caribbean, with the volume of exports accounting for X units, which was approx. X% of total exports in 2023. Colombia (X units) took an X% share (based on physical terms) of total exports, which put it in second place, followed by Ecuador (X%). The following exporters - Venezuela (X units), Panama (X units), El Salvador (X units) and Peru (X units) - together made up X% of total exports.

From 2012 to 2023, average annual rates of growth with regard to bed-convertible seat exports from the Dominican Republic stood at X%. At the same time, Ecuador (X%), Venezuela (X%), Peru (X%) and El Salvador (X%) displayed positive paces of growth. Moreover, Ecuador emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of X% from 2012-2023. Colombia experienced a relatively flat trend pattern. By contrast, Panama (X%) illustrated a downward trend over the same period. While the share of the Dominican Republic (X p.p.), Colombia (X p.p.), Ecuador (X p.p.), Venezuela (X p.p.), El Salvador (X p.p.) and Peru (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of Panama (X p.p.) displayed negative dynamics.

In value terms, the Dominican Republic ($X) remains the largest bed-convertible seat supplier in Latin America and the Caribbean, comprising X% of total exports. The second position in the ranking was taken by Colombia ($X), with a X% share of total exports. It was followed by Ecuador, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value in the Dominican Republic amounted to X%. The remaining exporting countries recorded the following average annual rates of exports growth: Colombia (X% per year) and Ecuador (X% per year).

Export Prices by Country

In 2023, the export price in Latin America and the Caribbean amounted to $X per unit, shrinking by X% against the previous year. Overall, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the export price increased by X% against the previous year. The level of export peaked at $X per unit in 2021; however, from 2022 to 2023, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Panama ($X per unit), while Venezuela ($X per unit) was amongst the lowest.

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

Bed-Convertible Seat Imports

Imports in Latin America and the Caribbean

In 2023, the amount of seats convertible into beds imported in Latin America and the Caribbean reduced to X units, shrinking by X% on the previous year. Overall, imports continue to indicate a pronounced shrinkage. The pace of growth appeared the most rapid in 2021 when imports increased by X%. As a result, imports reached the peak of X units. From 2022 to 2023, the growth of imports remained at a lower figure.

In value terms, bed-convertible seat imports shrank to $X in 2023. In general, imports showed a perceptible downturn. The growth pace was the most rapid in 2021 with an increase of X%. As a result, imports attained the peak of $X. From 2022 to 2023, the growth of imports remained at a lower figure.

Imports by Country

Peru represented the major importing country with an import of about X units, which finished at X% of total imports. Colombia (X units) ranks second in terms of the total imports with a X% share, followed by the Dominican Republic (X%) and Costa Rica (X%). The following importers - Haiti (X units), El Salvador (X units), Argentina (X units), Ecuador (X units), Honduras (X units) and Panama (X units) - together made up X% of total imports.

Imports into Peru increased at an average annual rate of X% from 2012 to 2023. At the same time, Haiti (X%), the Dominican Republic (X%), El Salvador (X%), Costa Rica (X%) and Honduras (X%) displayed positive paces of growth. Moreover, Haiti emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of X% from 2012-2023. By contrast, Colombia (X%), Panama (X%), Ecuador (X%) and Argentina (X%) illustrated a downward trend over the same period. While the share of Peru (X p.p.), the Dominican Republic (X p.p.), Costa Rica (X p.p.), Haiti (X p.p.), El Salvador (X p.p.), Colombia (X p.p.) and Honduras (X p.p.) increased significantly in terms of the total imports from 2012-2023, the share of Argentina (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest bed-convertible seat importing markets in Latin America and the Caribbean were Peru ($X), Colombia ($X) and the Dominican Republic ($X), with a combined X% share of total imports.

Peru, with a CAGR of X%, saw the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2023, the import price in Latin America and the Caribbean amounted to $X per unit, growing by X% against the previous year. In general, the import price saw a relatively flat trend pattern. The growth pace was the most rapid in 2013 an increase of X% against the previous year. As a result, import price attained the peak level of $X per unit. From 2014 to 2023, the import prices remained at a somewhat lower figure.

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 El Salvador ($X per unit), while Haiti ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform