Latin America and the Caribbean: Market for Internal Combustion Engines, Excluding Diesel (Other Than For Motor Vehicles And Aircraft) 2024

Market Size for Internal Combustion Engines, Excluding Diesel (Other Than For Motor Vehicles And Aircraft) in Latin America and the Caribbean

For the third year in a row, the Latin American market for internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) recorded growth in sales value, which increased by X% to $X in 2022. The total consumption indicated noticeable growth from 2012 to 2022: its value 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, consumption increased by X% against 2019 indices. Over the period under review, the market hit record highs in 2022 and is likely to see gradual growth in the near future.

Production of Internal Combustion Engines, Excluding Diesel (Other Than For Motor Vehicles And Aircraft) in Latin America and the Caribbean

In value terms, production of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) reached $X in 2022 estimated in export price. In general, production, however, recorded a perceptible descent. The most prominent rate of growth was recorded in 2016 when the production volume increased by X%. The level of production peaked at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

Exports of Internal Combustion Engines, Excluding Diesel (Other Than For Motor Vehicles And Aircraft)

Exports in Latin America and the Caribbean

In 2022, exports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) in Latin America and the Caribbean contracted modestly to X units, with a decrease of X% compared with 2021. Over the period under review, exports recorded a sharp slump. The pace of growth was the most pronounced in 2020 with an increase of X% against the previous year. Over the period under review, the exports of hit record highs at X units in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, exports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) surged to $X in 2022. In general, exports showed a deep setback. The most prominent rate of growth was recorded in 2019 when exports increased by X%. Over the period under review, the exports of attained the maximum at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

In 2022, Mexico (X units) represented the key exporter of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft), generating X% of total exports. It was distantly followed by Brazil (X units), comprising a X% share of total exports. Guatemala (X units), Panama (X units), Colombia (X units), Trinidad and Tobago (X units) and Bahamas (X units) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to internal combustion engine (excl. diesel, moto vehicle and aircraft) exports from Mexico stood at X%. At the same time, Colombia (X%), Trinidad and Tobago (X%), Brazil (X%), Guatemala (X%) and Bahamas (X%) displayed positive paces of growth. Moreover, Colombia emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of X% from 2012-2022. By contrast, Panama (X%) illustrated a downward trend over the same period. Brazil (X p.p.), Guatemala (X p.p.), Colombia (X p.p.), Trinidad and Tobago (X p.p.) and Bahamas (X p.p.) significantly strengthened its position in terms of the total exports, while Mexico saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) remains the largest internal combustion engine (excl. diesel, moto vehicle and aircraft) supplier in Latin America and the Caribbean, comprising X% of total exports. The second position in the ranking was held by Brazil ($X), with a X% share of total exports. It was followed by Panama, with a X% share.

In Mexico, exports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) plunged by an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Brazil (X% per year) and Panama (X% per year).

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per unit, surging by X% against the previous year. Over the period under review, the export price continues to indicate a prominent increase. The most prominent rate of growth was recorded in 2014 an increase of X% against the previous year. Over the period under review, the export prices hit record highs at $X per unit in 2019; however, from 2020 to 2022, the export prices failed to regain momentum.

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

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

Imports of Internal Combustion Engines, Excluding Diesel (Other Than For Motor Vehicles And Aircraft)

Imports in Latin America and the Caribbean

In 2022, after two years of growth, there was decline in purchases abroad of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft), when their volume decreased by X% to X units. Over the period under review, imports, however, saw a tangible increase. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, imports reached the peak of X units, and then declined slightly in the following year.

In value terms, imports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) reached $X in 2022. The total import value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, imports of hit record highs in 2022 and are likely to continue growth in the immediate term.

Imports by Country

Mexico represented the main importing country with an import of about X units, which amounted to X% of total imports. It was distantly followed by Brazil (X units), Argentina (X units) and Colombia (X units), together achieving a X% share of total imports. Peru (X units) followed a long way behind the leaders.

Imports into Mexico increased at an average annual rate of X% from 2012 to 2022. At the same time, Colombia (X%), Argentina (X%) and Brazil (X%) displayed positive paces of growth. Moreover, Colombia emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of X% from 2012-2022. Peru experienced a relatively flat trend pattern. While the share of Argentina (X p.p.), Colombia (X p.p.) and Mexico (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Brazil (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest internal combustion engine (excl. diesel, moto vehicle and aircraft) importing markets in Latin America and the Caribbean were Mexico ($X), Brazil ($X) and Argentina ($X), with a combined X% share of total imports. Colombia and Peru lagged somewhat behind, together accounting for a further X%.

Colombia, 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

The import price in Latin America and the Caribbean stood at $X per unit in 2022, surging by X% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 an increase of X% against the previous year. As a result, import price reached the peak level of $X per unit. From 2020 to 2022, the import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Colombia ($X per unit), while Mexico ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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