Colombia: Motor Vehicle Engine Market 2024

Motor Vehicle Engine Market Size in Colombia

The Colombian motor vehicle engine market skyrocketed to $X in 2022, jumping by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption posted a buoyant expansion. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Motor Vehicle Engine Exports

Exports from Colombia

In 2022, approx. X units of motor vehicle engines (spark-ignition) were exported from Colombia; with an increase of X% compared with 2021 figures. In general, exports, however, recorded a abrupt shrinkage. The most prominent rate of growth was recorded in 2020 when exports increased by X%. As a result, the exports attained the peak of X units. From 2021 to 2022, the growth of the exports remained at a lower figure.

In value terms, motor vehicle engine exports skyrocketed to $X in 2022. Overall, exports, however, saw a deep contraction. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Peru (X units) was the main destination for motor vehicle engine exports from Colombia, accounting for a X% share of total exports. Moreover, motor vehicle engine exports to Peru exceeded the volume sent to the second major destination, Argentina (X units), twofold. The third position in this ranking was taken by the United States (X units), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Peru was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Argentina (X% per year) and the United States (X% per year).

In value terms, Peru ($X) emerged as the key foreign market for motor vehicle engines (spark-ignition) exports from Colombia, comprising X% of total exports. The second position in the ranking was held by Argentina ($X), with a X% share of total exports. It was followed by the United States, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Peru totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Argentina (X% per year) and the United States (X% per year).

Export Prices by Country

In 2022, the average motor vehicle engine export price amounted to $X per unit, surging by X% against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the average export price increased by X% against the previous year. The export price peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Argentina ($X per unit), while the average price for exports to Germany ($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 Argentina (X%), while the prices for the other major destinations experienced more modest paces of growth.

Motor Vehicle Engine Imports

Imports into Colombia

In 2022, approx. X units of motor vehicle engines (spark-ignition) were imported into Colombia; picking up by X% on the previous year's figure. Over the period under review, imports showed significant growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, motor vehicle engine imports skyrocketed to $X in 2022. Overall, imports enjoyed a modest expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, China (X units) constituted the largest supplier of motor vehicle engine to Colombia, with a X% share of total imports. Moreover, motor vehicle engine imports from China exceeded the figures recorded by the second-largest supplier, Indonesia (X units), threefold. The third position in this ranking was taken by India (X units), with an X% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (X% per year) and India (X% per year).

In value terms, the largest motor vehicle engine suppliers to Colombia were Brazil ($X), China ($X) and India ($X), with a combined X% share of total imports.

In terms of the main suppliers, India, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average motor vehicle engine import price amounted to $X per unit, dropping by X% against the previous year. Over the period under review, the import price continues to indicate a deep reduction. The most prominent rate of growth was recorded in 2020 when the average import price increased by X% against the previous year. Over the period under review, average import prices attained the maximum at $X per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was South Korea ($X per unit), while the price for Indonesia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :