Latin America and the Caribbean: 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 Latin America and the Caribbean

The Latin American fuel or lubricating pump market dropped modestly to $X in 2021, leveling off at the previous year. In general, consumption, however, continues to indicate a relatively flat trend pattern. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Production of Fuel, Lubricating Or Cooling-Medium Pumps For Internal Combustion Engines in Latin America and the Caribbean

In value terms, fuel or lubricating pump production dropped to $X in 2021 estimated in export price. Overall, production saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 37%. As a result, production attained the peak level of $X, and then contracted in the following year.

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

Exports in Latin America and the Caribbean

Fuel or lubricating pump exports expanded remarkably to X units in 2021, with an increase of 9.1% compared with the previous year. The total export volume increased at an average annual rate of +3.0% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2015 when exports increased by 11% against the previous year. The volume of export peaked at X units in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

In value terms, fuel or lubricating pump exports totaled $X in 2021. The total export value increased at an average annual rate of +2.7% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2015 with an increase of 20% against the previous year. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

In 2021, Mexico (X units) was the major exporter of fuel, lubricating or cooling-medium pumps for internal combustion engines, achieving 81% of total exports. It was distantly followed by Brazil (X units), comprising a 15% share of total exports.

Mexico was also the fastest-growing in terms of the fuel, lubricating or cooling-medium pumps for internal combustion engines exports, with a CAGR of +4.1% from 2012 to 2021. At the same time, Brazil (+3.9%) displayed positive paces of growth. From 2012 to 2021, the share of Mexico increased by +7.4 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) remains the largest fuel or lubricating pump supplier in Latin America and the Caribbean, comprising 87% of total exports. The second position in the ranking was taken by Brazil ($X), with an 11% share of total exports.

In Mexico, fuel or lubricating pump exports increased at an average annual rate of +5.5% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in Latin America and the Caribbean amounted to $X per unit, picking up by 3.3% against the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 an increase of 8.8%. As a result, the export price attained the peak level of $X per unit. From 2016 to 2021, the export prices failed to regain momentum.

Average prices varied somewhat amongst the major exporting countries. In 2021, the country with the highest price was Mexico ($X per unit), while Brazil stood at $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mexico (+1.3%).

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

Imports in Latin America and the Caribbean

In 2021, imports of fuel, lubricating or cooling-medium pumps for internal combustion engines in Latin America and the Caribbean surged to X units, picking up by 41% compared with the previous year's figure. The total import volume increased at an average annual rate of +2.7% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, fuel or lubricating pump imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +2.7% from 2012 to 2021; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Mexico represented the main importer of fuel, lubricating or cooling-medium pumps for internal combustion engines in Latin America and the Caribbean, with the volume of imports accounting for X units, which was approx. 56% of total imports in 2021. It was distantly followed by Brazil (X units), making up a 19% share of total imports. The following importers - Argentina (X units), Colombia (X units), Venezuela (X units), Chile (X units), Peru (X units), Paraguay (X units) and Ecuador (X units) - together made up 17% of total imports.

Imports into Mexico increased at an average annual rate of +4.0% from 2012 to 2021. At the same time, Peru (+10.6%), Colombia (+6.7%), Chile (+6.0%), Paraguay (+2.9%) and Brazil (+2.1%) displayed positive paces of growth. Moreover, Peru emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +10.6% from 2012-2021. Argentina experienced a relatively flat trend pattern. By contrast, Venezuela (-2.3%) and Ecuador (-10.5%) illustrated a downward trend over the same period. Mexico (+5.8 p.p.) significantly strengthened its position in terms of the total imports, while Ecuador saw its share reduced by -4.3% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) constitutes the largest market for imported fuel, lubricating or cooling-medium pumps for internal combustion engines in Latin America and the Caribbean, comprising 57% of total imports. The second position in the ranking was held by Brazil ($X), with a 23% share of total imports. It was followed by Argentina, with a 6.1% share.

In Mexico, fuel or lubricating pump imports expanded at an average annual rate of +4.4% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Brazil (+1.4% per year) and Argentina (-0.2% per year).

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per unit in 2021, approximately mirroring the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 18% against the previous year. The level of import peaked at $X per unit in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Argentina ($X per unit), while Paraguay ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ecuador (+8.6%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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