Latin America and the Caribbean: Market for Equipment For Internal Combustion Engines 2025

Market Size for Equipment For Internal Combustion Engines in Latin America and the Caribbean

The Latin American internal combustion engine equipment market dropped to $X in 2022, which is down by -5.2% against the previous year. Overall, consumption showed a perceptible descent. Over the period under review, the market attained the maximum level at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Production of Equipment For Internal Combustion Engines in Latin America and the Caribbean

In value terms, internal combustion engine equipment production dropped to $X in 2022 estimated in export price. Overall, production saw a perceptible downturn. The most prominent rate of growth was recorded in 2013 with an increase of 14% against the previous year. As a result, production reached the peak level of $X. From 2014 to 2022, production growth remained at a lower figure.

Exports of Equipment For Internal Combustion Engines

Exports in Latin America and the Caribbean

For the fifth year in a row, LatAmerica and the Caribbean recorded decline in shipments abroad of equipment for internal combustion engines, which decreased by -7.3% to X units in 2022. Overall, exports saw a deep setback. The pace of growth appeared the most rapid in 2017 with an increase of 8.2% against the previous year. The volume of export peaked at X units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, internal combustion engine equipment exports dropped to $X in 2022. Over the period under review, exports recorded a deep downturn. The pace of growth was the most pronounced in 2017 when exports increased by 13%. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

In 2022, Mexico (X units) represented the largest exporter of equipment for internal combustion engines, making up 70% of total exports. It was distantly followed by Brazil (X units) and Argentina (X units), together making up a 28% share of total exports.

Exports from Mexico decreased at an average annual rate of -9.5% from 2012 to 2022. Argentina (-5.4%) and Brazil (-7.0%) illustrated a downward trend over the same period. While the share of Argentina (+3.7 p.p.) and Brazil (+2.6 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Mexico (-6.6 p.p.) displayed negative dynamics.

In value terms, Mexico ($X) remains the largest internal combustion engine equipment supplier in Latin America and the Caribbean, comprising 50% of total exports. The second position in the ranking was taken by Brazil ($X), with a 22% share of total exports.

In Mexico, internal combustion engine equipment exports plunged by an average annual rate of -14.1% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Brazil (-6.0% per year) and Argentina (-11.5% per year).

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per unit, approximately mirroring the previous year. Overall, the export price, however, recorded a perceptible curtailment. The pace of growth appeared the most rapid in 2021 an increase of 4.8% against the previous year. The level of export peaked at $X per unit in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Brazil ($X per unit), while Argentina ($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 (+1.0%), while the other leaders experienced a decline in the export price figures.

Imports of Equipment For Internal Combustion Engines

Imports in Latin America and the Caribbean

In 2022, after two years of growth, there was decline in purchases abroad of equipment for internal combustion engines, when their volume decreased by -3.4% to X units. Total imports indicated a slight increase from 2012 to 2022: its volume increased at an average annual rate of +1.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +57.7% against 2016 indices. The most prominent rate of growth was recorded in 2021 with an increase of 39% against the previous year. As a result, imports reached the peak of X units, and then contracted slightly in the following year.

In value terms, internal combustion engine equipment imports expanded rapidly to $X in 2022. The total import value increased at an average annual rate of +1.2% over the period from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The pace of growth was the most pronounced in 2021 with an increase of 25% against the previous year. The level of import peaked in 2022 and is expected to retain growth in the near future.

Imports by Country

Mexico was the major importing country with an import of about X units, which amounted to 52% of total imports. It was distantly followed by Brazil (X units), mixing up a 28% share of total imports. The following importers - Argentina (X units), Peru (X units), Guatemala (X units), Colombia (X units) and Chile (X units) - together made up 14% of total imports.

From 2012 to 2022, the biggest increases were recorded for Peru (with a CAGR of +6.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X) constitutes the largest market for imported equipment for internal combustion engines in Latin America and the Caribbean, comprising 57% of total imports. The second position in the ranking was taken by Brazil ($X), with a 20% share of total imports. It was followed by Guatemala, with a 4.2% share.

From 2012 to 2022, the average annual growth rate of value in Mexico amounted to +3.0%. In the other countries, the average annual rates were as follows: Brazil (-0.1% per year) and Guatemala (+7.7% per year).

Import Prices by Country

In 2022, the import price in Latin America and the Caribbean amounted to $X per unit, growing by 9.7% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 an increase of 25%. Over the period under review, import prices attained the maximum at $X per unit in 2017; however, from 2018 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Chile ($X per unit), while Argentina ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Guatemala (+4.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :