Panama: Market for Diesel Engines (Other Than For Motor Vehicles And Aircraft) 2024

Market Size for Diesel Engines (Other Than For Motor Vehicles And Aircraft) in Panama

The Panamanian market for diesel engines (other than for motor vehicles and aircraft) shrank slightly to $X in 2022, declining by X% against the previous year. Over the period under review, consumption, however, showed significant growth. Consumption of peaked at $X in 2015; however, from 2016 to 2022, consumption stood at a somewhat lower figure.

Production of Diesel Engines (Other Than For Motor Vehicles And Aircraft) in Panama

In value terms, production of diesel engines (other than for motor vehicles and aircraft) reached $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2016 with an increase of X%. Over the period under review, production of hit record highs in 2022 and is expected to retain growth in the near future.

Exports of Diesel Engines (Other Than For Motor Vehicles And Aircraft)

Exports from Panama

In 2022, approx. X units of diesel engines (other than for motor vehicles and aircraft) were exported from Panama; therefore, remained relatively stable against 2021. Overall, exports showed a perceptible decrease. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. As a result, the exports attained the peak of X units. From 2014 to 2022, the growth of the exports of remained at a lower figure.

In value terms, exports of diesel engines (other than for motor vehicles and aircraft) totaled $X in 2022. In general, exports recorded a noticeable contraction. The most prominent rate of growth was recorded in 2013 when exports increased by X% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports of failed to regain momentum.

Exports by Country

Nicaragua (X units), Honduras (X units) and Cuba (X units) were the main destinations of exports of diesel engines (other than for motor vehicles and aircraft) from Panama, together comprising X% of total exports. Colombia, the United States, Venezuela, El Salvador, Chile, Guyana, Guatemala, Brazil, the Dominican Republic and Ecuador lagged somewhat behind, together comprising a further X%.

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

In value terms, Nicaragua ($X), Honduras ($X) and Cuba ($X) were the largest markets for diesel engines (other than for motor vehicles and aircraft) exported from Panama worldwide, together accounting for X% of total exports. The United States, Colombia, Venezuela, El Salvador, Chile, Guyana, the Dominican Republic, Brazil, Guatemala and Ecuador lagged somewhat behind, together accounting for a further X%.

The United States, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average export price for diesel engines (other than for motor vehicles and aircraft) stood at $X per unit in 2022, stabilizing at the previous year. Overall, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the average export price increased by X% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2016 to 2022, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Venezuela ($X per unit), while the average price for exports to Ecuador ($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 Chile (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Diesel Engines (Other Than For Motor Vehicles And Aircraft)

Imports into Panama

In 2022, imports of diesel engines (other than for motor vehicles and aircraft) into Panama skyrocketed to X units, growing by X% compared with the previous year's figure. Over the period under review, imports posted a strong expansion. The growth pace was the most rapid in 2015 when imports increased by X% against the previous year. As a result, imports reached the peak of X units. From 2016 to 2022, the growth of imports of failed to regain momentum.

In value terms, imports of diesel engines (other than for motor vehicles and aircraft) skyrocketed to $X in 2022. In general, imports saw strong growth. The pace of growth appeared the most rapid in 2015 when imports increased by X%. As a result, imports attained the peak of $X. From 2016 to 2022, the growth of imports of remained at a lower figure.

Imports by Country

In 2022, the United States (X units) constituted the largest diesel engines (other than for motor vehicles and aircraft) supplier to Panama, with a X% share of total imports. Moreover, imports of diesel engines (other than for motor vehicles and aircraft) from the United States exceeded the figures recorded by the second-largest supplier, Free Zones (X units), twofold. The third position in this ranking was held by China (X units), with a X% share.

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

In value terms, the United States ($X) constituted the largest supplier of diesel engines (other than for motor vehicles and aircraft) to Panama, comprising X% of total imports. The second position in the ranking was held by Free Zones ($X), with a X% share of total imports. It was followed by China, with a X% share.

From 2012 to 2022, the average annual growth rate of value from the United States totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Free Zones (X% per year) and China (X% per year).

Import Prices by Country

In 2022, the average import price for diesel engines (other than for motor vehicles and aircraft) amounted to $X per unit, surging by X% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 an increase of X%. The import price peaked 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 Free Zones ($X per unit), while the price for the UK ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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