Costa Rica: Spark Plug Market 2025

Spark Plug Market Size in Costa Rica

The Costa Rican spark plug market contracted remarkably to $X in 2022, reducing by -17.9% 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). Over the period under review, consumption saw a mild reduction. As a result, consumption attained the peak level of $X, and then contracted notably in the following year.

Spark Plug Exports

Exports from Costa Rica

In 2022, overseas shipments of sparking plugs decreased by -23.6% to X units for the first time since 2019, thus ending a two-year rising trend. Over the period under review, exports, however, saw significant growth. The growth pace was the most rapid in 2017 with an increase of 291%. As a result, the exports attained the peak of X units. From 2018 to 2022, the growth of the exports failed to regain momentum.

In value terms, spark plug exports declined remarkably to $X in 2022. In general, exports, however, continue to indicate a significant expansion. The pace of growth appeared the most rapid in 2017 when exports increased by 267%. As a result, the exports reached the peak of $X. From 2018 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Panama (X units) was the main destination for spark plug exports from Costa Rica, with a 86% share of total exports. Moreover, spark plug exports to Panama exceeded the volume sent to the second major destination, the United States (X units), sixfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Panama totaled +89.3%.

In value terms, Panama ($X) remains the key foreign market for sparking plugs exports from Costa Rica, comprising 86% of total exports. The second position in the ranking was taken by the United States ($X), with a 14% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Panama totaled +98.8%.

Export Prices by Country

The average spark plug export price stood at $X per unit in 2022, with an increase of 6.7% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.7%. The most prominent rate of growth was recorded in 2015 an increase of 19%. Over the period under review, the average export prices reached the maximum at $X per unit in 2020; however, from 2021 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to Panama amounted to $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Nicaragua (+5.6%), while the prices for the other major destinations experienced more modest paces of growth.

Spark Plug Imports

Imports into Costa Rica

In 2022, imports of sparking plugs into Costa Rica shrank notably to X units, waning by -27.8% against 2021. In general, imports showed a noticeable decline. The growth pace was the most rapid in 2021 when imports increased by 125% against the previous year. As a result, imports attained the peak of X units, and then contracted rapidly in the following year.

In value terms, spark plug imports contracted to $X in 2022. Overall, imports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of 28%. Imports peaked at $X in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Mexico (X units) constituted the largest spark plug supplier to Costa Rica, with a 57% share of total imports. Moreover, spark plug imports from Mexico exceeded the figures recorded by the second-largest supplier, Japan (X units), fourfold. The United States (X units) ranked third in terms of total imports with a 10% share.

From 2012 to 2022, the average annual growth rate of volume from Mexico stood at -1.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-7.7% per year) and the United States (-6.2% per year).

In value terms, Mexico ($X) constituted the largest supplier of sparking plugs to Costa Rica, comprising 56% of total imports. The second position in the ranking was held by Japan ($X), with a 14% share of total imports. It was followed by the United States, with an 11% share.

From 2012 to 2022, the average annual growth rate of value from Mexico totaled +1.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-4.9% per year) and the United States (-3.4% per year).

Import Prices by Country

The average spark plug import price stood at $X per unit in 2022, picking up by 23% against the previous year. Over the period under review, import price indicated a temperate expansion from 2012 to 2022: its price increased at an average annual rate of +2.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, spark plug import price decreased by -29.8% against 2020 indices. The most prominent rate of growth was recorded in 2020 when the average import price increased by 63%. As a result, import price reached the peak level of $X per unit. From 2021 to 2022, the average import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Germany ($X per unit) and the United States ($X per unit), while the price for China ($X per unit) and South Korea ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+3.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform