Chile: 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 Chile

In 2022, the Chilean market for diesel engines (other than for motor vehicles and aircraft) increased by 8.5% to $X, rising for the second year in a row after three years of decline. Overall, consumption posted a buoyant expansion. Consumption of peaked in 2022 and is likely to continue growth in the immediate term.

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

In value terms, production of diesel engines (other than for motor vehicles and aircraft) stood at $X in 2022 estimated in export price. In general, production saw a relatively flat trend pattern. Production of peaked in 2022 and is likely to continue growth in the near future.

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

Exports from Chile

In 2022, the amount of diesel engines (other than for motor vehicles and aircraft) exported from Chile surged to X units, with an increase of 2,893% on the year before. Overall, exports saw a prominent increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, exports of diesel engines (other than for motor vehicles and aircraft) skyrocketed to $X in 2022. Over the period under review, exports, however, saw a perceptible reduction. The most prominent rate of growth was recorded in 2019 when exports increased by 55%. Over the period under review, the exports of hit record highs at $X in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

Exports by Country

The United States (X units) was the main destination for exports of diesel engines (other than for motor vehicles and aircraft) from Chile, accounting for a 98% share of total exports. It was followed by Peru (X units), with a 0.5% share of total exports. Argentina (X units) ranked third in terms of total exports with a 0.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States amounted to +33.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Peru (+1.9% per year) and Argentina (-14.0% per year).

In value terms, the United States ($X) remains the key foreign market for diesel engines (other than for motor vehicles and aircraft) exports from Chile, comprising 41% of total exports. The second position in the ranking was taken by Argentina ($X), with a 20% share of total exports. It was followed by Peru, with an 18% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States totaled -3.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Argentina (-7.8% per year) and Peru (+0.6% per year).

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, shrinking by -95.1% against the previous year. Overall, the export price faced a deep setback. The most prominent rate of growth was recorded in 2014 when the average export price increased by 95%. Over the period under review, the average export prices reached the peak figure at $X per unit in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Argentina ($X per unit), while the average price for exports to the United States ($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 Netherlands (+83.2%), 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 Chile

In 2022, purchases abroad of diesel engines (other than for motor vehicles and aircraft) increased by 26% to X units, rising for the second consecutive year after three years of decline. Over the period under review, imports recorded buoyant growth. The pace of growth appeared the most rapid in 2021 when imports increased by 119% against the previous year. Over the period under review, imports of hit record highs in 2022 and are expected to retain growth in the near future.

In value terms, imports of diesel engines (other than for motor vehicles and aircraft) surged to $X in 2022. In general, total imports indicated perceptible growth from 2012 to 2022: its value increased at an average annual rate of +3.5% 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 +93.3% against 2020 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, China (X units) constituted the largest supplier of diesel engines (other than for motor vehicles and aircraft) to Chile, accounting for a 44% share of total imports. Moreover, imports of diesel engines (other than for motor vehicles and aircraft) from China exceeded the figures recorded by the second-largest supplier, the UK (X units), threefold. The third position in this ranking was taken by Italy (X units), with an 8.4% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled +8.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (+35.2% per year) and Italy (-3.1% per year).

In value terms, the United States ($X) constituted the largest supplier of diesel engines (other than for motor vehicles and aircraft) to Chile, comprising 43% of total imports. The second position in the ranking was taken by the UK ($X), with a 16% share of total imports. It was followed by China, with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States stood at +1.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (+25.6% per year) and China (+10.8% per year).

Import Prices by Country

The average import price for diesel engines (other than for motor vehicles and aircraft) stood at $X per unit in 2022, increasing by 17% against the previous year. Overall, the import price, however, continues to indicate a pronounced decrease. The growth pace was the most rapid in 2018 an increase of 101% against the previous year. Over the period under review, average import prices attained the peak figure at $X per unit in 2019; however, from 2020 to 2022, import prices remained at a 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 the United States ($X per unit), while the price for Italy ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+4.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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