Chile: Market for Equipment For Internal Combustion Engines 2025

Market Size for Equipment For Internal Combustion Engines in Chile

The Chilean internal combustion engine equipment market soared to $X in 2022, rising by 28% 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). The market value increased at an average annual rate of +4.4% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Internal combustion engine equipment consumption peaked in 2022 and is likely to continue growth in the near future.

Exports of Equipment For Internal Combustion Engines

Exports from Chile

For the third year in a row, Chile recorded growth in shipments abroad of equipment for internal combustion engines, which increased by 29% to X units in 2022. Overall, exports saw buoyant growth. The most prominent rate of growth was recorded in 2016 when exports increased by 54% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are likely to see steady growth in the immediate term.

In value terms, internal combustion engine equipment exports reduced slightly to $X in 2022. Over the period under review, exports posted buoyant growth. The pace of growth was the most pronounced in 2021 with an increase of 140% against the previous year. As a result, the exports attained the peak of $X, and then fell slightly in the following year.

Exports by Country

Peru (X units) was the main destination for internal combustion engine equipment exports from Chile, accounting for a 53% share of total exports. Moreover, internal combustion engine equipment exports to Peru exceeded the volume sent to the second major destination, the United States (X units), threefold. Germany (X units) ranked third in terms of total exports with a 13% share.

From 2012 to 2022, the average annual growth rate of volume to Peru totaled +26.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-6.0% per year) and Germany (-2.1% per year).

In value terms, the largest markets for internal combustion engine equipment exported from Chile were Brazil ($X), the United States ($X) and Germany ($X), together accounting for 93% of total exports.

Brazil, with a CAGR of +80.1%, saw the highest rates of growth with regard to the value of exports, in terms of 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 internal combustion engine equipment export price stood at $X per unit in 2022, shrinking by -25.9% against the previous year. Overall, the export price, however, posted a prominent expansion. The growth pace was the most rapid in 2021 an increase of 90%. As a result, the export price attained the peak level of $X per unit, and then declined markedly in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Brazil ($X per unit), while the average price for exports to Peru ($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 (+12.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Equipment For Internal Combustion Engines

Imports into Chile

In 2022, the amount of equipment for internal combustion engines imported into Chile expanded rapidly to X units, with an increase of 14% against the year before. The total import volume increased at an average annual rate of +4.1% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2019 with an increase of 39%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.

In value terms, internal combustion engine equipment imports soared to $X in 2022. In general, total imports indicated a perceptible increase from 2012 to 2022: its value increased at an average annual rate of +4.5% 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 +80.1% against 2020 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 37%. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

China (X units), Italy (X units) and South Korea (X units) were the main suppliers of internal combustion engine equipment imports to Chile, together accounting for 65% of total imports. Japan, Spain, the United States, Argentina, Taiwan (Chinese), Germany and Brazil lagged somewhat behind, together accounting for a further 27%.

From 2012 to 2022, the biggest increases were recorded for Spain (with a CAGR of +35.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), the United States ($X) and Italy ($X) were the largest internal combustion engine equipment suppliers to Chile, with a combined 56% share of total imports.

Italy, with a CAGR of +29.6%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average internal combustion engine equipment import price amounted to $X per unit, picking up by 15% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 16%. The import price peaked at $X per unit in 2018; however, from 2019 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per unit), while the price for Spain ($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 United States (+8.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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