Dominican Republic: Starter Motor Market 2024

Starter Motor Market Size in the Dominican Republic

The Dominican starter motor market rose significantly to $X in 2021, increasing by 8.1% 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 significant growth. Starter motor consumption peaked in 2021 and is expected to retain growth in years to come.

Starter Motor Exports

Exports from the Dominican Republic

In 2021, shipments abroad of starter motors and dual purpose starter generators increased by 0.2% to X units, rising for the second consecutive year after two years of decline. In general, exports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 when exports increased by 777% against the previous year. The exports peaked at X units in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

In value terms, starter motor exports declined modestly to $X in 2021. Over the period under review, exports continue to indicate a slight increase. The pace of growth appeared the most rapid in 2016 with an increase of 637% against the previous year. The exports peaked at $X in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X units) was the main destination for starter motor exports from the Dominican Republic, accounting for a 74% share of total exports. Moreover, starter motor exports to the United States exceeded the volume sent to the second major destination, Haiti (X units), eightfold. Angola (X units) ranked third in terms of total exports with a 5.6% share.

From 2012 to 2021, the average annual growth rate of volume to the United States was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Haiti (+35.6% per year) and Angola (-0.6% per year).

In value terms, the United States ($X) emerged as the key foreign market for starter motors and dual purpose starter generators exports from the Dominican Republic, comprising 54% of total exports. The second position in the ranking was held by Angola ($X), with a 9.3% share of total exports. It was followed by Haiti, with an 8.2% share.

From 2012 to 2021, the average annual growth rate of value to the United States stood at -1.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Angola (+17.4% per year) and Haiti (+37.0% per year).

Export Prices by Country

In 2021, the average starter motor export price amounted to $X per unit, approximately mirroring the previous year. In general, export price indicated modest growth from 2012 to 2021: its price increased at an average annual rate of +1.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, starter motor export price decreased by -15.1% against 2019 indices. The growth pace was the most rapid in 2015 an increase of 73% against the previous year. Over the period under review, the average export prices reached the maximum at $X per unit in 2019; however, from 2020 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was South Africa ($X per unit), while the average price for exports to the United States ($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 South Africa (+196.2%), while the prices for the other major destinations experienced more modest paces of growth.

Starter Motor Imports

Imports into the Dominican Republic

In 2021, starter motor imports into the Dominican Republic surged to X units, jumping by 19% compared with the previous year. In general, imports saw a significant expansion. The pace of growth appeared the most rapid in 2017 when imports increased by 151%. Imports peaked in 2021 and are likely to see steady growth in the near future.

In value terms, starter motor imports totaled $X in 2021. Over the period under review, imports posted significant growth. The most prominent rate of growth was recorded in 2017 with an increase of 129%. Imports peaked in 2021 and are expected to retain growth in the immediate term.

Imports by Country

In 2021, China (X units) constituted the largest supplier of starter motor to the Dominican Republic, accounting for a 73% share of total imports. Moreover, starter motor imports from China exceeded the figures recorded by the second-largest supplier, the United States (X units), sevenfold. Japan (X units) ranked third in terms of total imports with an 8.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +50.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+15.9% per year) and Japan (+24.8% per year).

In value terms, the largest starter motor suppliers to the Dominican Republic were China ($X), the United States ($X) and Japan ($X), together comprising 79% of total imports.

China, with a CAGR of +42.1%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average starter motor import price amounted to $X per unit, waning by -15.1% against the previous year. Over the last nine years, it increased at an average annual rate of +1.1%. The growth pace was the most rapid in 2019 an increase of 36%. Over the period under review, average import prices reached the maximum at $X per unit in 2015; however, from 2016 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: 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 the United States (+14.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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