Latin America and the Caribbean: Starter Motor Market 2024

Starter Motor Market Size in Latin America and the Caribbean

In 2022, the Latin American starter motor market increased by X% to $X, rising for the sixth year in a row after three years of decline. The total consumption indicated moderate 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 2016 indices. Over the period under review, the market reached the peak level in 2022 and is likely to see steady growth in the near future.

Starter Motor Production in Latin America and the Caribbean

In value terms, starter motor production fell slightly to $X in 2022 estimated in export price. Overall, production, however, faced a deep reduction. The pace of growth was the most pronounced in 2021 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Starter Motor Exports

Exports in Latin America and the Caribbean

In 2022, shipments abroad of starter motors and dual purpose starter generators was finally on the rise to reach X units for the first time since 2019, thus ending a two-year declining trend. The total export volume increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. Over the period under review, the exports reached the maximum at X units in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, starter motor exports amounted to $X in 2022. The total export value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Mexico dominates exports structure, recording X units, which was approx. X% of total exports in 2022. Brazil (X units) held a minor share of total exports.

Mexico was also the fastest-growing in terms of the starter motors and dual purpose starter generators exports, with a CAGR of X% from 2012 to 2022. Brazil (X%) illustrated a downward trend over the same period. Mexico (X p.p.) significantly strengthened its position in terms of the total exports, while Brazil saw its share reduced by X% from 2012 to 2022, respectively.

In value terms, Mexico ($X) remains the largest starter motor supplier in Latin America and the Caribbean, comprising X% of total exports. The second position in the ranking was held by Brazil ($X), with a X% share of total exports.

In Mexico, starter motor exports increased at an average annual rate of X% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per unit, dropping by X% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the export price increased by X%. The level of export peaked at $X per unit in 2021, and then declined in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (X%).

Starter Motor Imports

Imports in Latin America and the Caribbean

In 2022, purchases abroad of starter motors and dual purpose starter generators increased by X% to X units, rising for the second year in a row after seven years of decline. Overall, imports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 when imports increased by X%. The volume of import peaked in 2022 and is expected to retain growth in the near future.

In value terms, starter motor imports rose sharply to $X in 2022. The total import value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Mexico was the key importing country with an import of around X units, which reached X% of total imports. It was distantly followed by Brazil (X units), constituting a X% share of total imports. Argentina (X units), Colombia (X units), Chile (X units) and Peru (X units) held a relatively small share of total imports.

Mexico experienced a relatively flat trend pattern with regard to volume of imports of starter motors and dual purpose starter generators. At the same time, Peru (X%), Colombia (X%), Brazil (X%) and Chile (X%) displayed positive paces of growth. Moreover, Peru emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of X% from 2012-2022. By contrast, Argentina (X%) illustrated a downward trend over the same period. While the share of Brazil (X p.p.) and Peru (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Mexico (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) constitutes the largest market for imported starter motors and dual purpose starter generators in Latin America and the Caribbean, comprising X% of total imports. The second position in the ranking was held by Brazil ($X), with a X% share of total imports. It was followed by Argentina, with an X% share.

In Mexico, starter motor imports expanded at an average annual rate of X% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Brazil (X% per year) and Argentina (X% per year).

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per unit in 2022, rising by X% against the previous year. Import price indicated a mild 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, starter motor import price decreased by X% against 2019 indices. The pace of growth was the most pronounced in 2017 an increase of X% against the previous year. The level of import peaked at $X per unit in 2019; however, from 2020 to 2022, import prices stood at a somewhat 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 Argentina ($X per unit), while Chile ($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 mixed trends in the import price figures.

Source: IndexBox Platform

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