Report Update Nov 1, 2024

Cuba - Motor Vehicles Compression-Ignition Internal Combustion Piston Engines - Market Analysis, Forecast, Size, Trends and Insights

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Cuba: Internal Combustion Engines Market 2024

Internal Combustion Engines Market Size in Cuba

The Cuban internal combustion engines market was finally on the rise to reach $X in 2021, after four years of decline. In general, consumption, however, showed a deep contraction. Over the period under review, the market reached the maximum level at $X in 2013; however, from 2014 to 2021, consumption stood at a somewhat lower figure.

Internal Combustion Engines Exports

Exports from Cuba

After two years of growth, overseas shipments of motor vehicles compression-ignition internal combustion piston engines decreased by -23.8% to X units in 2021. Over the period under review, exports saw a pronounced slump. The most prominent rate of growth was recorded in 2013 when exports increased by 186%. As a result, the exports reached the peak of X units. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, internal combustion engines exports soared to $X in 2021. In general, exports showed a deep setback. The most prominent rate of growth was recorded in 2020 when exports increased by 315% against the previous year. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

Venezuela (X units) was the main destination for internal combustion engines exports from Cuba, with a 95% share of total exports. It was followed by the Netherlands (X units), with a 1.7% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to Venezuela totaled -2.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (-33.3% per year) and Spain (-22.1% per year).

In value terms, Venezuela ($X) remains the key foreign market for motor vehicles compression-ignition internal combustion piston engines exports from Cuba, comprising 96% of total exports. The second position in the ranking was held by the Netherlands ($X), with a 1.6% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Venezuela totaled -13.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (-25.5% per year) and Spain (-40.1% per year).

Export Prices by Country

In 2021, the average internal combustion engines export price amounted to $X per unit, growing by 76% against the previous year. Over the period under review, the export price, however, faced a drastic downturn. The export price peaked at $X per unit in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was the Netherlands ($X per unit), while the average price for exports to Spain ($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 the Netherlands (+25.4%), while the prices for the other major destinations experienced a decline.

Internal Combustion Engines Imports

Imports into Cuba

In 2021, overseas purchases of motor vehicles compression-ignition internal combustion piston engines were finally on the rise to reach X units after five years of decline. In general, imports, however, showed a deep slump. The most prominent rate of growth was recorded in 2013 with an increase of 94% against the previous year. As a result, imports reached the peak of X units. From 2014 to 2021, the growth of imports remained at a lower figure.

In value terms, internal combustion engines imports soared to $X in 2021. Overall, imports, however, showed a deep contraction. Imports peaked at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

South Korea (X units), China (X units) and Malaysia (X units) were the main suppliers of internal combustion engines imports to Cuba, with a combined 64% share of total imports. Spain, Russia, the Netherlands, Japan, Belarus and France lagged somewhat behind, together accounting for a further 25%.

From 2012 to 2021, the biggest increases were recorded for the Netherlands (with a CAGR of +14.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), South Korea ($X) and Russia ($X) constituted the largest internal combustion engines suppliers to Cuba, together accounting for 58% of total imports. Malaysia, Japan, Spain, the Netherlands, Belarus and France lagged somewhat behind, together comprising a further 27%.

Among the main suppliers, Malaysia, with a CAGR of +24.6%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average internal combustion engines import price stood at $X per unit in 2021, growing by 6.4% against the previous year. Over the period under review, the import price, however, showed a slight downturn. The most prominent rate of growth was recorded in 2014 an increase of 48%. The import price peaked at $X per unit in 2016; however, from 2017 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+24.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for motor vehicles compression-ignition internal combustion piston engines in the world?

The countries with the highest volumes of internal combustion engines consumption in 2021 were Mexico, South Africa and China, together accounting for 46% of global consumption. These countries were followed by the United States, India, Germany, the Czech Republic, France, Italy, Turkey, South Korea, Spain and Thailand, which together accounted for a further 33%.

What are the largest producers of motor vehicles compression-ignition internal combustion piston engines in the world?

China remains the largest internal combustion engines producing country worldwide, comprising approx. 24% of total volume. Moreover, internal combustion engines production in China exceeded the figures recorded by the second-largest producer, India, twofold. The third position in this ranking was occupied by Poland, with an 8.3% share.

What are the leading suppliers of motor vehicles compression-ignition internal combustion piston engines to Cuba?

In value terms, the largest internal combustion engines suppliers to Cuba were Russia, China and Malaysia, together comprising 68% of total imports.

What are the leading importers of motor vehicles compression-ignition internal combustion piston engines from Cuba?

In value terms, Venezuela remains the key foreign market for internal combustion engines exports from Cuba, comprising 88% of total exports. The second position in the ranking was occupied by the Netherlands, with an 8.5% share of total exports.

What is the average export price for motor vehicles compression-ignition internal combustion piston engines in Cuba?

The average internal combustion engines export price stood at $2,736 per unit in 2021, increasing by 2.7% against the previous year.

What is the average import price for motor vehicles compression-ignition internal combustion piston engines in Cuba?

The average internal combustion engines import price stood at $2,410 per unit in 2021, waning by -29.3% against the previous year.

This report provides an in-depth analysis of the internal combustion engines market in Cuba. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 29101300 - Vehicle compression-ignition internal combustion piston engines (diesel or semi-diesel) (excluding for railway or tramway rolling stock)

Country coverage:

Cuba

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Cuba
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023