Chile: Motor Vehicle Engine Market 2024

Motor Vehicle Engine Market Size in Chile

The Chilean motor vehicle engine market expanded modestly to $X in 2021, picking up by 4.2% against the previous year. In general, the total consumption indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +8.7% 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 decreased by -1.9% against 2019 indices. Motor vehicle engine consumption peaked at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Motor Vehicle Engine Production in Chile

In value terms, motor vehicle engine production amounted to $X in 2021 estimated in export price. Over the period under review, the total production indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +8.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -3.2% against 2019 indices. The pace of growth was the most pronounced in 2014 with an increase of 60% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Motor Vehicle Engine Exports

Exports from Chile

In 2021, approx. X tons of motor vehicle engines (spark-ignition) were exported from Chile; remaining relatively unchanged against 2020. In general, exports, however, continue to indicate a strong increase. The growth pace was the most rapid in 2013 when exports increased by 109% against the previous year. The exports peaked at X tons in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

In value terms, motor vehicle engine exports rose remarkably to $X in 2021. Overall, exports, however, saw a strong increase. The growth pace was the most rapid in 2014 with an increase of 131% against the previous year. Over the period under review, the exports hit record highs at $X in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

Exports by Country

Bolivia (X tons) was the main destination for motor vehicle engine exports from Chile, with a 72% share of total exports. Moreover, motor vehicle engine exports to Bolivia exceeded the volume sent to the second major destination, Peru (X tons), threefold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Bolivia stood at +2.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Peru (+19.8% per year) and Paraguay (+27.1% per year).

In value terms, Bolivia ($X) remains the key foreign market for motor vehicle engines (spark-ignition) exports from Chile, comprising 72% of total exports. The second position in the ranking was taken by Peru ($X), with a 22% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Bolivia totaled +6.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Peru (+26.2% per year) and Paraguay (+35.2% per year).

Export Prices by Country

In 2021, the average motor vehicle engine export price amounted to $X per ton, with an increase of 14% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.3%. The most prominent rate of growth was recorded in 2014 when the average export price increased by 27% against the previous year. Over the period under review, the average export prices attained the maximum in 2021 and is likely to see steady growth in the immediate term.

Average prices varied noticeably for the major overseas markets. In 2021, the country with the highest price was Paraguay ($X per ton), while the average price for exports to Peru ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Paraguay (+6.3%), while the prices for the other major destinations experienced more modest paces of growth.

Motor Vehicle Engine Imports

Imports into Chile

In 2021, approx. X tons of motor vehicle engines (spark-ignition) were imported into Chile; jumping by 65% against the previous year. Over the period under review, imports showed prominent growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, motor vehicle engine imports skyrocketed to $X in 2021. Overall, imports saw a buoyant increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Japan (X tons) constituted the largest supplier of motor vehicle engine to Chile, with a 46% share of total imports. Moreover, motor vehicle engine imports from Japan exceeded the figures recorded by the second-largest supplier, China (X tons), threefold. Malaysia (X tons) ranked third in terms of total imports with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Japan stood at +37.4%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+27.5% per year) and Malaysia (+30.7% per year).

In value terms, Japan ($X) constituted the largest supplier of motor vehicle engines (spark-ignition) to Chile, comprising 49% of total imports. The second position in the ranking was held by China ($X), with a 12% share of total imports. It was followed by Malaysia, with an 11% share.

From 2012 to 2021, the average annual growth rate of value from Japan stood at +33.2%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+36.0% per year) and Malaysia (+28.1% per year).

Import Prices by Country

In 2021, the average motor vehicle engine import price amounted to $X per ton, rising by 7.1% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +4.0%. The most prominent rate of growth was recorded in 2018 when the average import price increased by 25% against the previous year. Over the period under review, average import prices hit record highs in 2021 and is likely to continue growth in years to come.

Prices varied noticeably country of origin: the country with the highest price was Germany ($X per ton), while the price for the United Arab Emirates ($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 (+6.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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