Colombia: Starter Motor Market 2024

Starter Motor Market Size in Colombia

The Colombian starter motor market surged to $X in 2021, picking up by 57% 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 +3.0% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Starter Motor Exports

Exports from Colombia

For the third consecutive year, Colombia recorded decline in overseas shipments of starter motors and dual purpose starter generators, which decreased by -2.1% to X units in 2021. Over the period under review, exports, however, showed a significant expansion. The pace of growth appeared the most rapid in 2013 when exports increased by 406%. Over the period under review, the exports attained the maximum at X units in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

In value terms, starter motor exports declined rapidly to $X in 2021. In general, exports, however, recorded significant growth. The most prominent rate of growth was recorded in 2013 when exports increased by 438% against the previous year. The exports peaked at $X in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

Exports by Country

Honduras (X units), the United States (X units) and Guatemala (X units) were the main destinations of starter motor exports from Colombia, with a combined 65% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Honduras (with a CAGR of +109.0%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for starter motors and dual purpose starter generators exports from Colombia, comprising 74% of total exports. The second position in the ranking was taken by Honduras ($X), with a 5.3% share of total exports. It was followed by the Dominican Republic, with a 3% share.

From 2012 to 2021, the average annual growth rate of value to the United States totaled +25.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Honduras (+140.8% per year) and the Dominican Republic (+65.1% per year).

Export Prices by Country

In 2021, the average starter motor export price amounted to $X per unit, falling by -14.5% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when the average export price increased by 51%. The export price peaked at $X per unit in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was the United States ($X per unit), while the average price for exports to Panama ($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 Thailand (+19.6%), while the prices for the other major destinations experienced more modest paces of growth.

Starter Motor Imports

Imports into Colombia

Starter motor imports into Colombia soared to X units in 2021, with an increase of 59% on 2020 figures. In general, total imports indicated resilient growth from 2012 to 2021: its volume increased at an average annual rate of +5.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, starter motor imports soared to $X in 2021. The total import value increased at an average annual rate of +1.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X units) constituted the largest starter motor supplier to Colombia, accounting for a 74% share of total imports. Moreover, starter motor imports from China exceeded the figures recorded by the second-largest supplier, India (X units), tenfold. France (X units) ranked third in terms of total imports with a 4.2% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to +6.2%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+5.5% per year) and France (+46.5% per year).

In value terms, China ($X) constituted the largest supplier of starter motors and dual purpose starter generators to Colombia, comprising 46% of total imports. The second position in the ranking was taken by Mexico ($X), with a 12% share of total imports. It was followed by the United States, with a 10% share.

From 2012 to 2021, the average annual growth rate of value from China amounted to +5.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (+4.0% per year) and the United States (-9.3% per year).

Import Prices by Country

The average starter motor import price stood at $X per unit in 2021, which is down by -4.1% against the previous year. In general, the import price showed a perceptible downturn. The most prominent rate of growth was recorded in 2016 when the average import price increased by 68% against the previous year. As a result, import price attained the peak level of $X per unit. From 2017 to 2021, the average import prices remained 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 ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+11.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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