Latin America and the Caribbean: Cranks And Crankshafts Market 2024

Cranks And Crankshafts Market Size in Latin America and the Caribbean

The Latin American cranks and crankshafts market rose slightly to $X in 2022, growing by 2.4% against the previous year. The market value increased at an average annual rate of +1.2% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Cranks And Crankshafts Production in Latin America and the Caribbean

In value terms, cranks and crankshafts production shrank to $X in 2022 estimated in export price. Overall, production showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 with an increase of 38% against the previous year. As a result, production attained the peak level of $X. From 2015 to 2022, production growth remained at a lower figure.

Cranks And Crankshafts Exports

Exports in Latin America and the Caribbean

In 2022, shipments abroad of cranks and crankshafts increased by 5.5% to X tons, rising for the second consecutive year after six years of decline. In general, exports, however, showed a noticeable descent. The pace of growth appeared the most rapid in 2021 with an increase of 56% against the previous year. The volume of export peaked at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, cranks and crankshafts exports rose remarkably to $X in 2022. Overall, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 19%. The level of export peaked in 2022 and is likely to continue growth in years to come.

Exports by Country

In 2022, Mexico (X tons) and Brazil (X tons) represented the key exporter of cranks and crankshafts in Latin America and the Caribbean, committing 99% of total export.

From 2012 to 2022, the biggest increases were recorded for Mexico (with a CAGR of +1.8%).

In value terms, Mexico ($X) and Brazil ($X) constituted the countries with the highest levels of exports in 2022.

Mexico, with a CAGR of +4.5%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review.

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per ton, picking up by 7.1% against the previous year. Export price indicated noticeable growth from 2012 to 2022: its price increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, cranks and crankshafts export price decreased by -18.1% against 2020 indices. The growth pace was the most rapid in 2016 an increase of 26% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Mexico ($X per ton), while Brazil totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+3.7%).

Cranks And Crankshafts Imports

Imports in Latin America and the Caribbean

Cranks and crankshafts imports soared to X tons in 2022, jumping by 15% against the previous year. Overall, imports saw a mild increase. The most prominent rate of growth was recorded in 2021 when imports increased by 22%. The volume of import peaked in 2022 and is likely to continue growth in the immediate term.

In value terms, cranks and crankshafts imports stood at $X in 2022. The total import value increased at an average annual rate of +3.3% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by 23%. The level of import peaked in 2022 and is expected to retain growth in the immediate term.

Imports by Country

In 2022, Mexico (X tons) represented the key importer of cranks and crankshafts, mixing up 77% of total imports. It was distantly followed by Brazil (X tons), constituting a 16% share of total imports. Argentina (X tons) and Chile (X tons) took a little share of total imports.

Mexico experienced a relatively flat trend pattern with regard to volume of imports of cranks and crankshafts. At the same time, Argentina (+5.8%), Chile (+1.5%) and Brazil (+1.4%) displayed positive paces of growth. Moreover, Argentina emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +5.8% from 2012-2022. While the share of Mexico (-1.9 p.p.) decreased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest cranks and crankshafts importing markets in Latin America and the Caribbean were Mexico ($X), Brazil ($X) and Argentina ($X), together comprising 91% of total imports.

Argentina, with a CAGR of +6.3%, saw the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Latin America and the Caribbean amounted to $X per ton, declining by -2.7% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.3%. The most prominent rate of growth was recorded in 2014 when the import price increased by 24%. As a result, import price reached the peak level of $X per ton. From 2015 to 2022, the import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Chile ($X per ton), while Mexico ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+2.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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