Latin America and the Caribbean: Market for Diesel Engines (Other Than For Motor Vehicles And Aircraft) 2025

Market Size for Diesel Engines (Other Than For Motor Vehicles And Aircraft) in Latin America and the Caribbean

The Latin American market for diesel engines (other than for motor vehicles and aircraft) expanded slightly to $X in 2022, rising by 2.8% against the previous year. The total consumption indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +5.7% 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 +22.0% against 2016 indices. The level of consumption peaked in 2022 and is expected to retain growth in years to come.

Production of Diesel Engines (Other Than For Motor Vehicles And Aircraft) in Latin America and the Caribbean

In value terms, production of diesel engines (other than for motor vehicles and aircraft) amounted to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.0% from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The growth pace was the most rapid in 2019 when the production volume increased by 12%. As a result, production reached the peak level of $X. From 2020 to 2022, production of growth remained at a lower figure.

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

Exports in Latin America and the Caribbean

After nine years of decline, shipments abroad of diesel engines (other than for motor vehicles and aircraft) increased by 42% to X units in 2022. In general, exports, however, faced a abrupt downturn. Over the period under review, the exports of reached the maximum at X units in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, exports of diesel engines (other than for motor vehicles and aircraft) rose notably to $X in 2022. Over the period under review, exports, however, recorded a abrupt downturn. The pace of growth was the most pronounced in 2017 with an increase of 34%. The level of export peaked at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The biggest shipments were from Mexico (X units), Chile (X units), Brazil (X units) and Argentina (X units), together amounting to 98% of total export.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Chile (with a CAGR of +17.0%), while the other leaders experienced mixed trends in the exports figures.

In value terms, Mexico ($X) remains the largest diesel engines (other than for motor vehicles and aircraft) supplier in Latin America and the Caribbean, comprising 60% of total exports. The second position in the ranking was taken by Brazil ($X), with a 20% share of total exports. It was followed by Argentina, with a 17% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Mexico amounted to -13.1%. In the other countries, the average annual rates were as follows: Brazil (-2.5% per year) and Argentina (+9.7% per year).

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per unit, with a decrease of -21.2% against the previous year. In general, the export price, however, recorded temperate growth. The most prominent rate of growth was recorded in 2016 when the export price increased by 64% against the previous year. Over the period under review, the export prices reached the peak figure at $X per unit in 2019; however, from 2020 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 ($X per unit), while Chile ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+9.3%), while the other leaders experienced mixed trends in the export price figures.

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

Imports in Latin America and the Caribbean

In 2022, purchases abroad of diesel engines (other than for motor vehicles and aircraft) increased by 12% to X units, rising for the fifth year in a row after five years of decline. Over the period under review, imports saw slight growth. The most prominent rate of growth was recorded in 2021 with an increase of 82%. Over the period under review, imports of hit record highs in 2022 and are likely to see gradual growth in the immediate term.

In value terms, imports of diesel engines (other than for motor vehicles and aircraft) surged to $X in 2022. Overall, imports, however, showed a perceptible setback. The most prominent rate of growth was recorded in 2021 when imports increased by 48%. Over the period under review, imports of hit record highs at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

Brazil represented the main importing country with an import of about X units, which accounted for 49% of total imports. Peru (X units) ranks second in terms of the total imports with an 11% share, followed by Colombia (9.4%), Ecuador (9.2%), Mexico (6%) and Chile (4.5%). Bolivia (X units) followed a long way behind the leaders.

Imports into Brazil increased at an average annual rate of +8.3% from 2012 to 2022. At the same time, Peru (+18.0%), Ecuador (+16.0%), Bolivia (+14.8%) and Chile (+6.2%) displayed positive paces of growth. Moreover, Peru emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +18.0% from 2012-2022. By contrast, Mexico (-2.9%) and Colombia (-5.0%) illustrated a downward trend over the same period. While the share of Brazil (+23 p.p.), Peru (+8.7 p.p.), Ecuador (+6.7 p.p.), Bolivia (+2.5 p.p.) and Chile (+1.6 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Mexico (-3.6 p.p.) and Colombia (-9.3 p.p.) displayed negative dynamics.

In value terms, Brazil ($X) constitutes the largest market for imported diesel engines (other than for motor vehicles and aircraft) in Latin America and the Caribbean, comprising 59% of total imports. The second position in the ranking was taken by Mexico ($X), with a 10% share of total imports. It was followed by Peru, with a 6.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Brazil amounted to +2.5%. In the other countries, the average annual rates were as follows: Mexico (-7.1% per year) and Peru (-0.1% per year).

Import Prices by Country

In 2022, the import price in Latin America and the Caribbean amounted to $X per unit, rising by 5.5% against the previous year. Overall, the import price, however, continues to indicate a noticeable setback. The growth pace was the most rapid in 2013 when the import price increased by 9% against the previous year. Over the period under review, import prices attained the peak figure at $X per unit in 2018; however, from 2019 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Chile (-2.6%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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