Mexico: Cranks And Crankshafts Market 2024

Cranks And Crankshafts Market Size in Mexico

In 2022, the Mexican cranks and crankshafts market increased by 15% to $X, rising for the second year in a row after two years of decline. The market value increased at an average annual rate of +2.4% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. Cranks and crankshafts consumption peaked at $X in 2016; however, from 2017 to 2022, consumption remained at a lower figure.

Cranks And Crankshafts Production in Mexico

In value terms, cranks and crankshafts production soared to $X in 2022 estimated in export price. Overall, production posted a buoyant expansion. The most prominent rate of growth was recorded in 2014 when the production volume increased by 5,855%. Cranks and crankshafts production peaked at $X in 2016; however, from 2017 to 2022, production stood at a somewhat lower figure.

Cranks And Crankshafts Exports

Exports from Mexico

Cranks and crankshafts exports from Mexico soared to X tons in 2022, increasing by 20% against the previous year. In general, exports enjoyed a slight increase. The pace of growth was the most pronounced in 2021 with an increase of 95%. Over the period under review, the exports reached the maximum in 2022 and are likely to see steady growth in the near future.

In value terms, cranks and crankshafts exports skyrocketed to $X in 2022. The total export value increased at an average annual rate of +4.5% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States (X tons) was the main destination for cranks and crankshafts exports from Mexico, accounting for a 75% share of total exports. Moreover, cranks and crankshafts exports to the United States exceeded the volume sent to the second major destination, Canada (X tons), fourfold.

From 2012 to 2022, the average annual growth rate of volume to the United States stood at +1.9%.

In value terms, the United States ($X) remains the key foreign market for cranks and crankshafts exports from Mexico, comprising 80% of total exports. The second position in the ranking was taken by Canada ($X), with a 12% share of total exports.

From 2012 to 2022, the average annual growth rate of value to the United States totaled +4.7%.

Export Prices by Country

In 2022, the average cranks and crankshafts export price amounted to $X per ton, dropping by -2.6% against the previous year. Over the period under review, the export price, however, continues to indicate pronounced growth. The most prominent rate of growth was recorded in 2016 an increase of 70% against the previous year. The export price peaked at $X per ton in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Canada stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+2.8%).

Cranks And Crankshafts Imports

Imports into Mexico

In 2022, approx. X tons of cranks and crankshafts were imported into Mexico; with an increase of 20% compared with the previous year's figure. Overall, imports recorded a relatively flat trend pattern. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, cranks and crankshafts imports rose remarkably to $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 remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth appeared the most rapid in 2021 when imports increased by 18% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, the United States (X tons) constituted the largest supplier of cranks and crankshafts to Mexico, with a 57% share of total imports. Moreover, cranks and crankshafts imports from the United States exceeded the figures recorded by the second-largest supplier, China (X tons), fourfold. India (X tons) ranked third in terms of total imports with a 6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: China (+12.4% per year) and India (+11.1% per year).

In value terms, the United States ($X), China ($X) and Germany ($X) constituted the largest cranks and crankshafts suppliers to Mexico, with a combined 65% share of total imports. South Korea, India, Japan, Brazil, Canada and the UK lagged somewhat behind, together accounting for a further 19%.

Among the main suppliers, South Korea, with a CAGR of +12.6%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average cranks and crankshafts import price amounted to $X per ton, shrinking by -5.9% against the previous year. Over the last decade, it increased at an average annual rate of +2.5%. The growth pace was the most rapid in 2014 an increase of 33%. As a result, import price reached the peak level of $X per ton. From 2015 to 2022, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Canada ($X per ton), while the price for the UK ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (+12.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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