Dominican Republic: Market for Diesel Engines (Other Than For Motor Vehicles And Aircraft) 2024

Market Size for Diesel Engines (Other Than For Motor Vehicles And Aircraft) in the Dominican Republic

The Dominican market for diesel engines (other than for motor vehicles and aircraft) declined to $X in 2022, with a decrease of -7.4% against the previous year. Overall, the total consumption indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +7.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +14.2% against 2020 indices. Consumption of peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Production of Diesel Engines (Other Than For Motor Vehicles And Aircraft) in the Dominican Republic

In value terms, production of diesel engines (other than for motor vehicles and aircraft) declined to $X in 2022 estimated in export price. In general, production, however, showed resilient growth. The pace of growth was the most pronounced in 2013 when the production volume increased by 170%. Production of peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Exports of Diesel Engines (Other Than For Motor Vehicles And Aircraft)

Exports from the Dominican Republic

In 2022, overseas shipments of diesel engines (other than for motor vehicles and aircraft) increased by 88% to X units, rising for the second year in a row after two years of decline. Overall, exports, however, showed a slight curtailment. The growth pace was the most rapid in 2018 when exports increased by 433%. As a result, the exports reached the peak of X units. From 2019 to 2022, the growth of the exports of remained at a lower figure.

In value terms, exports of diesel engines (other than for motor vehicles and aircraft) soared to $X in 2022. Over the period under review, exports continue to indicate a significant expansion. Over the period under review, the exports of reached the peak figure at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X units), Haiti (X units) and Venezuela (X units) were the main destinations of exports of diesel engines (other than for motor vehicles and aircraft) from the Dominican Republic, with a combined 93% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Haiti (with a CAGR of +7.2%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) emerged as the key foreign market for diesel engines (other than for motor vehicles and aircraft) exports from the Dominican Republic, comprising 65% of total exports. The second position in the ranking was held by Venezuela ($X), with a 31% share of total exports. It was followed by Haiti, with a 4.4% share.

From 2012 to 2022, the average annual growth rate of value to the United States stood at +22.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Venezuela (-19.4% per year) and Haiti (+1.0% per year).

Export Prices by Country

The average export price for diesel engines (other than for motor vehicles and aircraft) stood at $X per unit in 2022, surging by 916% against the previous year. In general, the export price continues to indicate a significant increase. The export price peaked at $X per unit in 2016; however, from 2017 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Venezuela ($X per unit), while the average price for exports to Peru ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+40.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Diesel Engines (Other Than For Motor Vehicles And Aircraft)

Imports into the Dominican Republic

In 2022, approx. X units of diesel engines (other than for motor vehicles and aircraft) were imported into the Dominican Republic; growing by 40% on the previous year's figure. Overall, imports, however, showed a abrupt curtailment. The growth pace was the most rapid in 2019 with an increase of 127% against the previous year. Imports peaked at X units in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, imports of diesel engines (other than for motor vehicles and aircraft) skyrocketed to $X in 2022. Over the period under review, imports, however, continue to indicate a dramatic downturn. The most prominent rate of growth was recorded in 2016 when imports increased by 220% against the previous year. Over the period under review, imports of hit record highs at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X units) constituted the largest diesel engines (other than for motor vehicles and aircraft) supplier to the Dominican Republic, with a 69% share of total imports. Moreover, imports of diesel engines (other than for motor vehicles and aircraft) from China exceeded the figures recorded by the second-largest supplier, South Korea (X units), sixfold. The United States (X units) ranked third in terms of total imports with an 11% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled +16.0%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+40.5% per year) and the United States (+16.4% per year).

In value terms, the United States ($X) constituted the largest supplier of diesel engines (other than for motor vehicles and aircraft) to the Dominican Republic, comprising 76% of total imports. The second position in the ranking was held by China ($X), with a 12% share of total imports. It was followed by South Korea, with a 2% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States totaled +12.0%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+12.3% per year) and South Korea (+19.1% per year).

Import Prices by Country

The average import price for diesel engines (other than for motor vehicles and aircraft) stood at $X per unit in 2022, surging by 5.8% against the previous year. In general, the import price, however, showed a abrupt slump. The growth pace was the most rapid in 2016 an increase of 88% against the previous year. The import price peaked at $X per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per unit), while the price for Italy ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+15.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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