Peru: 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 Peru

The Peruvian market for internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) contracted rapidly to $X in 2022, which is down 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). Over the period under review, consumption showed a relatively flat trend pattern. As a result, consumption reached the peak level of $X, and then reduced notably in the following year.

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

Exports from Peru

After two years of growth, shipments abroad of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) decreased by X% to X units in 2022. Over the period under review, exports, however, posted pronounced growth. The growth pace was the most rapid in 2021 with an increase of X%. The exports peaked at X units in 2017; however, from 2018 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. Overall, exports, however, posted a strong expansion. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, the exports of reached the maximum in 2022 and are likely to see steady growth in the near future.

Exports by Country

Colombia (X units) was the main destination for exports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) from Peru, with a X% share of total exports. Moreover, exports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) to Colombia exceeded the volume sent to the second major destination, Chile (X units), fivefold. The United States (X units) ranked third in terms of total exports with a X% share.

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

In value terms, the United States ($X) emerged as the key foreign market for internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) exports from Peru, comprising X% of total exports. The second position in the ranking was taken by Chile ($X), with an X% share of total exports. It was followed by Ecuador, with a X% share.

From 2012 to 2022, the average annual growth rate of value to the United States amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Chile (X% per year) and Ecuador (X% per year).

Export Prices by Country

In 2022, the average export price for internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) amounted to $X per unit, increasing by X% against the previous year. Overall, the export price continues to indicate prominent growth. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to Colombia ($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 the United States (X%), while the prices for the other major destinations experienced mixed trend patterns.

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

Imports into Peru

Imports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) into Peru shrank dramatically to X units in 2022, dropping by X% on the previous year's figure. In general, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when imports increased by X%. As a result, imports attained the peak of X units, and then shrank rapidly in the following year.

In value terms, imports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) shrank remarkably to $X in 2022. Over the period under review, imports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when imports increased by X%. As a result, imports reached the peak of $X, and then dropped significantly in the following year.

Imports by Country

In 2022, China (X units) constituted the largest internal combustion engine (excl. diesel, moto vehicle and aircraft) supplier to Peru, with a X% share of total imports. Moreover, imports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) from China exceeded the figures recorded by the second-largest supplier, Thailand (X units), more than tenfold.

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: Thailand (X% per year) and Japan (X% per year).

In value terms, the largest internal combustion engine (excl. diesel, moto vehicle and aircraft) suppliers to Peru were China ($X), Japan ($X) and Thailand ($X), with a combined X% share of total imports.

Japan, with a CAGR of X%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average import price for internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) stood at $X per unit in 2022, jumping by X% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. Over the period under review, average import prices attained the maximum at $X per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

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

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

Source: IndexBox Platform

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