Mexico - Motor Vehicle Engines (Spark-Ignition) - Market Analysis, Forecast, Size, Trends and Insights
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View PricingMotor Vehicle Engine Exports From Mexico See Minor Rise, Reaching $3.5 Billion in 2023
Mexico Motor Vehicle Engine Exports
In 2023, overseas shipments of motor vehicle engines (spark-ignition) decreased by -2% to 1.6M units for the first time since 2020, thus ending a two-year rising trend. Over the period under review, exports recorded a perceptible decrease. The most prominent rate of growth was recorded in 2022 with an increase of 24%. Over the period under review, the exports attained the maximum at 2.1M units in 2013; however, from 2014 to 2023, the exports remained at a lower figure.
In value terms, motor vehicle engine exports rose modestly to $3.5B (IndexBox estimates) in 2023. In general, exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2022 with an increase of 32% against the previous year. The exports peaked at $4.2B in 2019; however, from 2020 to 2023, the exports failed to regain momentum.
| COUNTRY | Export Value of Motor Vehicle Engine in Mexico (billion USD) | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
| United States | 2.9 | 3.1 | 2.9 | 3.6 | 3.1 | 2.8 | 2.1 | 2.1 | 2.1 | 2.3 | 2.5 |
| Canada | 0.2 | 0.1 | 0.2 | N/A | 0.2 | 0.8 | 1.9 | 0.8 | 0.4 | 1.0 | 1.0 |
| Others | 0.2 | 0.1 | 0.1 | 0.1 | 0.1 | N/A | 0.2 | 0.1 | N/A | N/A | N/A |
| Total | 3.3 | 3.3 | 3.2 | 3.8 | 3.3 | 3.7 | 4.2 | 3.0 | 2.6 | 3.4 | 3.5 |
Exports by Country
the United States (1.2M units) was the main destination for motor vehicle engine exports from Mexico, accounting for a 77% share of total exports. Moreover, motor vehicle engine exports to the United States exceeded the volume sent to the second major destination, Canada (348K units), fourfold.
From 2013 to 2023, the average annual growth rate of volume to the United States stood at -4.4%.
In value terms, the United States ($2.5B) remains the key foreign market for motor vehicle engines (spark-ignition) exports from Mexico, comprising 71% of total exports. The second position in the ranking was held by Canada ($996M), with a 28% share of total exports.
From 2013 to 2023, the average annual growth rate of value to the United States amounted to -1.4%.
Exports by Type
Engines (1.5M units) was the largest type of motor vehicle engines (spark-ignition) exported from Mexico, accounting for a 92% share of total exports. Moreover, engines exceeded the volume of the second product type, engines; reciprocating piston engines, of a kind used for the propulsion of vehicles of chapter 87, of a cylinder capacity exceeding 250cc but not exceeding 1000cc (133K units), more than tenfold.
From 2013 to 2023, the average annual growth rate of the volume of engines exports totaled -3.5%.
In value terms, engines ($3.4B) remains the largest type of motor vehicle engines (spark-ignition) exported from Mexico, comprising 96% of total exports. The second position in the ranking was taken by engines; reciprocating piston engines, of a kind used for the propulsion of vehicles of chapter 87, of a cylinder capacity exceeding 250cc but not exceeding 1000cc ($143M), with a 4.1% share of total exports.
From 2013 to 2023, the average annual rate of growth in terms of the value of engines exports was relatively modest.
Export Prices by Country
In 2023, the motor vehicle engine price amounted to $2,200 per unit (FOB, Mexico), increasing by 5.6% against the previous year. Over the last decade, it increased at an average annual rate of +3.7%. The most prominent rate of growth was recorded in 2014 an increase of 33%. The export price peaked at $2,417 per unit in 2020; however, from 2021 to 2023, the export prices remained at a lower figure.
Average prices varied somewhat for the major overseas markets. In 2023, amid the top suppliers, the country with the highest price was Canada ($2,862 per unit), while the average price for exports to the United States amounted to $2,025 per unit.
From 2013 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+3.0%).
This report provides an in-depth analysis of the motor vehicle engine market in Mexico. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 29101100 - Spark-ignition reciprocating internal combustion piston engines, for the vehicles of HS .87 (excluding motorcycles), of a cylinder capacity . 1 .000 cm.
- Prodcom 29101200 - Spark-ignition reciprocating internal combustion piston engines, for the vehicles of HS .87 (excluding motorcycles), of a cylinder capacity > 1 .000 cm.
Country coverage:
- Mexico
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Mexico
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2024
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2024
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2024
- Market Volume, In Physical Terms, 2012–2024
- Market Value, 2012–2024
- Per Capita Consumption In 2012-2024
- Imports, In Physical Terms, By Country, 2012–2024
- Imports, In Value Terms, By Country, 2012–2024
- Import Prices, By Country Of Origin, 2012–2024
- Exports, In Physical Terms, By Country, 2012–2024
- Exports, In Value Terms, By Country, 2012–2024
- Export Prices, By Country Of Destination, 2012–2024
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2024
- Market Value, 2012–2024
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2024
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2024
- Trade Balance, In Physical Terms, 2012-2024
- Trade Balance, In Value Terms, 2012-2024
- Per Capita Consumption, 2012-2024
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2024
- Production, In Value Terms, 2012–2024
- Imports, In Physical Terms, 2012–2024
- Imports, In Value Terms, 2012–2024
- Imports, In Physical Terms, By Country, 2024
- Imports, In Physical Terms, By Country, 2012–2024
- Imports, In Value Terms, By Country, 2012–2024
- Import Prices, By Country Of Origin, 2012–2024
- Exports, In Physical Terms, 2012–2024
- Exports, In Value Terms, 2012–2024
- Exports, In Physical Terms, By Country, 2024
- Exports, In Physical Terms, By Country, 2012–2024
- Exports, In Value Terms, By Country, 2012–2024
- Export Prices, By Country Of Destination, 2012–2024
