Mexico: Spark Plug Market 2024

Spark Plug Market Size in Mexico

The Mexican spark plug market surged to $X in 2022, with an increase of X% against the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Spark Plug Production in Mexico

In value terms, spark plug production amounted to $X in 2022 estimated in export price. Overall, production, however, showed a pronounced reduction. The most prominent rate of growth was recorded in 2020 with an increase of X%. Spark plug production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

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Spark Plug Exports

Exports from Mexico

In 2022, exports of sparking plugs from Mexico reduced to X units, which is down by X% against the previous year. Over the period under review, exports recorded a perceptible descent. The most prominent rate of growth was recorded in 2021 when exports increased by X%. Over the period under review, the exports reached the maximum at X units in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, spark plug exports contracted slightly to $X in 2022. In general, exports showed a noticeable shrinkage. The growth pace was the most rapid in 2021 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

The United States (X units) was the main destination for spark plug exports from Mexico, accounting for a X% share of total exports. Moreover, spark plug exports to the United States exceeded the volume sent to the second major destination, Guatemala (X units), more than tenfold. The third position in this ranking was held by El Salvador (X units), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to the United States totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Guatemala (X% per year) and El Salvador (X% per year).

In value terms, the United States ($X) remains the key foreign market for sparking plugs exports from Mexico, comprising X% of total exports. The second position in the ranking was held by Guatemala ($X), with a X% share of total exports. It was followed by El Salvador, with a X% share.

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

Export Prices by Country

The average spark plug export price stood at $X per unit in 2022, with an increase of X% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The export price peaked at $X per unit in 2020; however, from 2021 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the countries with the highest prices were Guatemala ($X per unit) and the United States ($X per unit), while the average price for exports to El Salvador ($X per unit) and Costa Rica ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Guatemala (X%), while the prices for the other major destinations experienced more modest paces of growth.

Spark Plug Imports

Imports into Mexico

Spark plug imports into Mexico soared to X units in 2022, jumping by X% compared with 2021 figures. The total import volume increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, spark plug imports skyrocketed to $X in 2022. In general, total imports indicated a prominent expansion 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, imports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of X%. Imports peaked in 2022 and are likely to see gradual growth in the immediate term.

Imports by Country

Japan (X units), the United States (X units) and Thailand (X units) were the main suppliers of spark plug imports to Mexico, with a combined X% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Thailand (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest spark plug suppliers to Mexico were Japan ($X), the United States ($X) and Thailand ($X), together accounting for X% of total imports.

Thailand, with a CAGR of X%, recorded the highest growth rate of the value of imports, among the main suppliers 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 spark plug import price amounted to $X per unit, picking up by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2018 an increase of X%. Over the period under review, average import prices hit record highs at $X per unit in 2020; however, from 2021 to 2022, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Japan ($X per unit) and China ($X per unit), while the price for Thailand ($X per unit) and South Korea ($X per unit) were amongst the lowest.

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

Source: IndexBox Platform