Chile: Market for Fuel, Lubricating Or Cooling-Medium Pumps For Internal Combustion Engines 2024

Market Size for Fuel, Lubricating Or Cooling-Medium Pumps For Internal Combustion Engines in Chile

In 2021, the Chilean fuel or lubricating pump market increased by 5.1% to $X, rising for the second year in a row after two years of decline. The market value increased at an average annual rate of +2.4% from 2012 to 2021; however, the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. Fuel or lubricating pump consumption peaked in 2021 and is expected to retain growth in the near future.

Exports of Fuel, Lubricating Or Cooling-Medium Pumps For Internal Combustion Engines

Exports from Chile

After four years of growth, shipments abroad of fuel, lubricating or cooling-medium pumps for internal combustion engines decreased by -64.5% to X units in 2021. Overall, exports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when exports increased by 143%. As a result, the exports reached the peak of X units, and then declined dramatically in the following year.

In value terms, fuel or lubricating pump exports contracted markedly to $X in 2021. Over the period under review, exports recorded a perceptible decrease. The most prominent rate of growth was recorded in 2020 with an increase of 247%. As a result, the exports attained the peak of $X, and then shrank markedly in the following year.

Exports by Country

Colombia (X units), the United States (X units) and Brazil (X units) were the main destinations of fuel or lubricating pump exports from Chile, with a combined 61% share of total exports. These countries were followed by Peru, Bolivia, Mexico, Australia, Paraguay and Argentina, which together accounted for a further 33%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Australia (with a CAGR of +78.1%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for fuel, lubricating or cooling-medium pumps for internal combustion engines exports from Chile, comprising 44% of total exports. The second position in the ranking was held by Bolivia ($X), with a 13% share of total exports. It was followed by Australia, with a 7.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States stood at -4.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bolivia (-2.5% per year) and Australia (+81.8% per year).

Export Prices by Country

In 2021, the average fuel or lubricating pump export price amounted to $X per unit, surging by 1.9% against the previous year. Over the period under review, the export price, however, recorded a pronounced contraction. The most prominent rate of growth was recorded in 2016 when the average export price increased by 60% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2017 to 2021, the average export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Australia ($X per unit), while the average price for exports to Colombia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Argentina (+17.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Fuel, Lubricating Or Cooling-Medium Pumps For Internal Combustion Engines

Imports into Chile

In 2021, supplies from abroad of fuel, lubricating or cooling-medium pumps for internal combustion engines increased by 20% to X units, rising for the second year in a row after two years of decline. In general, total imports indicated resilient growth from 2012 to 2021: its volume increased at an average annual rate of +6.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +48.8% against 2019 indices. The growth pace was the most rapid in 2017 when imports increased by 42% against the previous year. Over the period under review, imports attained the maximum in 2021 and are expected to retain growth in the near future.

In value terms, fuel or lubricating pump imports shrank slightly to $X in 2021. The total import value increased at an average annual rate of +1.1% over the period from 2012 to 2021; however, the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The pace of growth was the most pronounced in 2016 when imports increased by 6.5% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X units) constituted the largest fuel or lubricating pump supplier to Chile, accounting for a 50% share of total imports. Moreover, fuel or lubricating pump imports from China exceeded the figures recorded by the second-largest supplier, South Korea (X units), fourfold. The third position in this ranking was taken by the United States (X units), with a 5.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +11.9%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+7.9% per year) and the United States (-5.3% per year).

In value terms, the largest fuel or lubricating pump suppliers to Chile were the United States ($X), China ($X) and Peru ($X), with a combined 61% share of total imports.

Peru, with a CAGR of +16.7%, saw 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

The average fuel or lubricating pump import price stood at $X per unit in 2021, falling by -18% against the previous year. In general, the import price recorded a perceptible contraction. The growth pace was the most rapid in 2018 when the average import price increased by 24%. The import price peaked at $X per unit in 2016; however, from 2017 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the United States ($X per unit), while the price for South Korea ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+6.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :