Puerto Rico: 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 Puerto Rico

In 2021, after two years of growth, there was significant decline in the Puerto Rican market for internal combustion engines, excluding diesel (other than for motor vehicles and aircraft), when its value decreased by -5.5% to $X. In general, the total consumption indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +5.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +37.4% against 2018 indices. Over the period under review, the market hit record highs at $X in 2020, and then reduced in the following year.

Production of Internal Combustion Engines, Excluding Diesel (Other Than For Motor Vehicles And Aircraft) in Puerto Rico

In value terms, production of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) dropped to $X in 2021 estimated in export price. Over the period under review, the total production indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +6.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +40.2% against 2018 indices. The growth pace was the most rapid in 2016 when the production volume increased by 49% against the previous year. Over the period under review, production of attained the maximum level at $X in 2020, and then dropped in the following year.

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

Exports from Puerto Rico

In 2021, the amount of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) exported from Puerto Rico was estimated at less than X kg, approximately reflecting the previous year. Overall, exports saw a relatively flat trend pattern.

In value terms, exports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) totaled less than $X in 2021. In general, exports continue to indicate a relatively flat trend pattern.

Exports by Country

China was the largest exporting country with an export of around X tons, which finished at 42% of total exports. Japan (X tons) took the second position in the ranking, distantly followed by the United States (X tons), Thailand (X tons) and Italy (X tons). All these countries together took near 36% share of total exports. The following exporters - Belgium (X tons), Spain (X tons), Poland (X tons), Austria (X tons), Turkey (X tons), the Netherlands (X tons) and the UK (X tons) - together made up 14% of total exports.

From 2012 to 2021, the biggest increases were recorded for Poland (with a CAGR of +60.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), China ($X) and the United States ($X) constituted the countries with the highest levels of exports in 2021, with a combined 72% share of total exports. These countries were followed by Thailand, Belgium, Poland, Austria, Italy, Turkey, the Netherlands, Spain and the UK, which together accounted for a further 19%.

Poland, with a CAGR of +66.4%, recorded the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Puerto Rico stood at less than $X per ton in 2021, remaining stable against the previous year. In general, the export price continues to indicate a relatively flat trend pattern.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+14.5%), 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 into Puerto Rico

In 2021, imports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) into Puerto Rico was estimated at less than X kg, therefore, remained relatively stable against 2020 figures. Over the period under review, imports recorded a relatively flat trend pattern.

In value terms, imports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) totaled less than $X in 2021. In general, imports saw a relatively flat trend pattern.

Imports by Country

The United States represented the largest importer of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) in the world, with the volume of imports reaching X tons, which was near 27% of total imports in 2021. Mexico (X tons), Russia (X tons), Belgium (X tons), China (X tons), Indonesia (X tons), Saudi Arabia (X tons), Canada (X tons), Italy (X tons), the Netherlands (X tons), Brazil (X tons), Japan (X tons) and Vietnam (X tons) followed a long way behind the leaders.

Imports into the United States increased at an average annual rate of +2.1% from 2012 to 2021. At the same time, Vietnam (+26.9%), the Netherlands (+16.3%), Saudi Arabia (+10.0%), Mexico (+6.9%), Russia (+4.4%), Brazil (+4.4%), Italy (+2.0%) and Indonesia (+2.0%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing importer imported in the world, with a CAGR of +26.9% from 2012-2021. Belgium, Canada and Japan experienced a relatively flat trend pattern. By contrast, China (-2.2%) illustrated a downward trend over the same period. Vietnam (+2.1 p.p.), the Netherlands (+2 p.p.) and Saudi Arabia (+1.6 p.p.) significantly strengthened its position in terms of the global imports, while China saw its share reduced by -1.7% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($X) constitutes the largest market for imported internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) into Puerto Rico, comprising 30% of global imports. The second position in the ranking was held by Belgium ($X), with a 5% share of global imports. It was followed by China, with a 4.8% share.

In the United States, imports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) increased at an average annual rate of +2.6% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Belgium (+0.5% per year) and China (+2.2% per year).

Import Prices by Country

In 2021, the import price in Puerto Rico amounted to less than $X per ton, approximately reflecting the previous year. Overall, the import price continues to indicate a relatively flat trend pattern.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Canada ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+4.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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