MERCOSUR: Motor Vehicle Radiator Market 2024

Motor Vehicle Radiator Market Size in MERCOSUR

The MERCOSUR motor vehicle radiator market fell modestly to $X in 2022, waning by -3% against the previous year. The market value increased at an average annual rate of +3.2% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $X, and then fell in the following year.

Motor Vehicle Radiator Production in MERCOSUR

In value terms, motor vehicle radiator production expanded significantly to $X in 2022 estimated in export price. In general, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the production volume increased by 24%. Over the period under review, production hit record highs at $X in 2016; however, from 2017 to 2022, production remained at a lower figure.

Motor Vehicle Radiator Exports

Exports in MERCOSUR

In 2022, overseas shipments of radiators for motor vehicles increased by 50% to X units, rising for the second consecutive year after three years of decline. Overall, exports, however, recorded a pronounced decrease. The volume of export peaked at X units in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, motor vehicle radiator exports skyrocketed to $X in 2022. In general, exports, however, showed a perceptible slump. The growth pace was the most rapid in 2021 with an increase of 64% against the previous year. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Brazil prevails in exports structure, resulting at X units, which was approx. 83% of total exports in 2022. It was distantly followed by Chile (X units), generating an 8% share of total exports. Argentina (X units) and Paraguay (X units) took a minor share of total exports.

From 2012 to 2022, average annual rates of growth with regard to motor vehicle radiator exports from Brazil stood at -2.0%. At the same time, Paraguay (+97.5%) and Chile (+3.3%) displayed positive paces of growth. Moreover, Paraguay emerged as the fastest-growing exporter exported in MERCOSUR, with a CAGR of +97.5% from 2012-2022. By contrast, Argentina (-6.6%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Chile and Paraguay increased by +3.3 and +3.1 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) remains the largest motor vehicle radiator supplier in MERCOSUR, comprising 87% of total exports. The second position in the ranking was held by Chile ($X), with a 5% share of total exports. It was followed by Argentina, with a 3.2% share.

In Brazil, motor vehicle radiator exports shrank by an average annual rate of -2.6% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Chile (-1.0% per year) and Argentina (-14.9% per year).

Export Prices by Country

In 2022, the export price in MERCOSUR amounted to $X per unit, growing by 2.8% against the previous year. In general, the export price, however, continues to indicate a mild decrease. The pace of growth appeared the most rapid in 2021 when the export price increased by 23%. Over the period under review, the export prices attained the maximum at $X per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Brazil ($X per unit), while Chile ($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 (-0.6%), while the other leaders experienced a decline in the export price figures.

Motor Vehicle Radiator Imports

Imports in MERCOSUR

In 2022, the amount of radiators for motor vehicles imported in MERCOSUR declined to X units, waning by -7% compared with 2021 figures. Total imports indicated a moderate increase from 2012 to 2022: its volume increased at an average annual rate of +3.1% 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 +68.5% against 2020 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 81%. As a result, imports reached the peak of X units, and then shrank in the following year.

In value terms, motor vehicle radiator imports rose sharply to $X in 2022. Total imports indicated a tangible expansion from 2012 to 2022: its value increased at an average annual rate of +3.1% 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 +92.6% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 72% against the previous year. The level of import peaked in 2022 and is likely to see steady growth in the near future.

Imports by Country

Brazil was the largest importer of radiators for motor vehicles in MERCOSUR, with the volume of imports amounting to X units, which was near 49% of total imports in 2022. Argentina (X units) held a 21% share (based on physical terms) of total imports, which put it in second place, followed by Chile (12%) and Peru (5%). Colombia (X units), Ecuador (X units) and Paraguay (X units) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to motor vehicle radiator imports into Brazil stood at +4.8%. At the same time, Peru (+11.2%), Paraguay (+10.6%), Chile (+5.6%), Ecuador (+3.8%), Colombia (+2.4%) and Argentina (+1.7%) displayed positive paces of growth. Moreover, Peru emerged as the fastest-growing importer imported in MERCOSUR, with a CAGR of +11.2% from 2012-2022. While the share of Brazil (+7.2 p.p.), Peru (+2.6 p.p.) and Chile (+2.6 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Argentina (-3.3 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest motor vehicle radiator importing markets in MERCOSUR were Brazil ($X), Argentina ($X) and Chile ($X), with a combined 85% share of total imports. Peru, Colombia, Ecuador and Paraguay lagged somewhat behind, together comprising a further 12%.

Peru, with a CAGR of +8.2%, recorded the highest growth rate of the value of imports, among 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 MERCOSUR amounted to $X per unit, surging by 21% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. Over the period under review, import prices hit record highs at $X per unit in 2014; however, from 2015 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 Argentina ($X per unit), while Peru ($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 (+0.9%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform