Dominican Republic: Market for Fuel, Lubricating Or Cooling-Medium Pumps For Internal Combustion Engines 2024

Market Size for Fuel, Lubricating Or Cooling-Medium Pumps For Internal Combustion Engines in the Dominican Republic

In 2021, the Dominican fuel or lubricating pump market increased by 51% to $X, rising for the third year in a row after three years of decline. Overall, consumption saw strong growth. Over the period under review, the market attained the peak level in 2021 and is likely to see steady growth in years to come.

Exports of Fuel, Lubricating Or Cooling-Medium Pumps For Internal Combustion Engines

Exports from the Dominican Republic

In 2021, fuel or lubricating pump exports from the Dominican Republic rose modestly to X units, growing by 3.7% on 2020. In general, exports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of 508% against the previous year. Over the period under review, the exports attained the peak figure at X units in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, fuel or lubricating pump exports contracted dramatically to $X in 2021. Overall, exports, however, continue to indicate a noticeable reduction. The pace of growth appeared the most rapid in 2017 with an increase of 410%. As a result, the exports attained the peak of $X. From 2018 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

The United States (X units) was the main destination for fuel or lubricating pump exports from the Dominican Republic, accounting for a 86% share of total exports. Moreover, fuel or lubricating pump exports to the United States exceeded the volume sent to the second major destination, Haiti (X units), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States totaled +2.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Haiti (+17.3% per year) and China (-10.5% per year).

In value terms, the United States ($X), Haiti ($X) and China ($X) appeared to be the largest markets for fuel or lubricating pump exported from the Dominican Republic worldwide, with a combined 87% share of total exports.

In terms of the main countries of destination, Haiti, with a CAGR of +48.7%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2021, the average fuel or lubricating pump export price amounted to $X per unit, which is down by -39.4% against the previous year. Overall, the export price saw a noticeable shrinkage. The growth pace was the most rapid in 2019 when the average export price increased by 108%. The export price peaked at $X per unit in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Haiti ($X per unit), while the average price for exports to the United States ($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 Haiti (+26.8%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Fuel, Lubricating Or Cooling-Medium Pumps For Internal Combustion Engines

Imports into the Dominican Republic

In 2021, approx. X units of fuel, lubricating or cooling-medium pumps for internal combustion engines were imported into the Dominican Republic; growing by 60% compared with 2020 figures. In general, imports posted a pronounced increase. The most prominent rate of growth was recorded in 2015 when imports increased by 132% against the previous year. As a result, imports attained the peak of X units. From 2016 to 2021, the growth of imports remained at a lower figure.

In value terms, fuel or lubricating pump imports soared to $X in 2021. Overall, imports recorded a buoyant expansion. The pace of growth was the most pronounced in 2015 when imports increased by 119%. Imports peaked in 2021 and are likely to see steady growth in the immediate term.

Imports by Country

In 2021, China (X units) constituted the largest fuel or lubricating pump supplier to the Dominican Republic, with a 53% share of total imports. Moreover, fuel or lubricating pump imports from China exceeded the figures recorded by the second-largest supplier, the United States (X units), sixfold. The third position in this ranking was taken by Japan (X units), with a 4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +19.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-11.9% per year) and Japan (-10.1% per year).

In value terms, the largest fuel or lubricating pump suppliers to the Dominican Republic were China ($X), the United States ($X) and Japan ($X), with a combined 73% share of total imports.

In terms of the main suppliers, China, with a CAGR of +21.0%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average fuel or lubricating pump import price stood at $X per unit in 2021, with a decrease of -18.8% against the previous year. In general, the import price, however, showed resilient growth. The pace of growth appeared the most rapid in 2018 an increase of 60%. As a result, import price attained the peak level of $X per unit. From 2019 to 2021, the average import prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was Germany ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+49.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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