Brazil Pumps Market Shipment Analysis
Brazil Pumps Market registered a growth of 16.71% in value shipments in 2022 as compared to 2021 and an increase of 6.79% CAGR in 2022 over a period of 2017. In Pumps Market Brazil is becoming more competitive as the HHI index in 2022 was 1171 while in 2017 it was 1193. Herfindahl Index measures the competitiveness of exporting countries. The range lies from 0 to 10000, where a lower index number represents a larger number of players or exporting countries in the market while a large index number means less numbers of players or countries exporting in the market.
Brazil has reportedly relied more on imports to meet its growing demand in Pumps Market. India is unable to meet its increasing needs of this product with domestic production hence we see the trend is shifting towards import shipment to meet its demand The import factor of Pumps Market in 2022 was 3.13 while in 2017 it was 2.46. USA, China, Germany, Argentina and Italy were among the top players of the market in 2022, where USA acquired the largest market share of 25.4% with a shipment value of 108.14 million USD in 2022 USA also offered the product above the average market price, but remained at the leadership position indicating the trust it holds in the Pumps Market. In 2017 USA had the largest market share of 25.71% with the shipment value of 63.28 million USD. The country was offering its product with an average price which is higher than the average market price offered in the country. Although USA offers its product above the market average price, it remained at the leadership position indicating the brand value it holds in the Brazil Pumps Market in 2017.
