Mexico: 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 Mexico

The Mexican fuel or lubricating pump market rose markedly to $X in 2021, growing by 12% against the previous year. Over the period under review, the total consumption indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +5.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +87.2% against 2016 indices. Over the period under review, the market hit record highs in 2021 and is expected to retain growth in the near future.

Production of Fuel, Lubricating Or Cooling-Medium Pumps For Internal Combustion Engines in Mexico

In value terms, fuel or lubricating pump production fell remarkably to $X in 2021 estimated in export price. Overall, production, however, recorded a remarkable increase. The growth pace was the most rapid in 2018 with an increase of 69%. Fuel or lubricating pump production peaked at $X in 2020, and then declined rapidly in the following year.

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

Exports from Mexico

In 2021, approx. X units of fuel, lubricating or cooling-medium pumps for internal combustion engines were exported from Mexico; rising by 5.1% against 2020. Over the period under review, total exports indicated a pronounced expansion from 2012 to 2021: its volume increased at an average annual rate of +4.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -14.3% against 2019 indices. The most prominent rate of growth was recorded in 2015 with an increase of 22% against the previous year. The exports peaked at X units in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

In value terms, fuel or lubricating pump exports stood at $X in 2021. Overall, total exports indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +5.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -8.5% against 2019 indices. The pace of growth appeared the most rapid in 2015 with an increase of 30%. The exports peaked at $X in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

Exports by Country

The United States (X units) was the main destination for fuel or lubricating pump exports from Mexico, accounting for a 91% share of total exports. It was followed by the United Arab Emirates (X units), with a 2.9% share of total exports. The third position in this ranking was taken by Brazil (X units), with a 2.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States stood at +4.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+12.1% per year) and Brazil (+6.8% per year).

In value terms, the United States ($X) remains the key foreign market for fuel, lubricating or cooling-medium pumps for internal combustion engines exports from Mexico, comprising 93% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 2.3% share of total exports. It was followed by Brazil, with a 1.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States stood at +6.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+12.9% per year) and Brazil (+5.9% per year).

Export Prices by Country

The average fuel or lubricating pump export price stood at $X per unit in 2021, increasing by 5.8% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.3%. The most prominent rate of growth was recorded in 2014 when the average export price increased by 11%. Over the period under review, the average export prices reached the peak figure at $X per unit in 2015; however, from 2016 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was the United States ($X per unit), while the average price for exports to Canada ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+1.7%), while the prices for the other major destinations experienced mixed trend patterns.

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

Imports into Mexico

In 2021, the amount of fuel, lubricating or cooling-medium pumps for internal combustion engines imported into Mexico surged to X units, jumping by 47% on the previous year's figure. The total import volume increased at an average annual rate of +4.0% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, imports reached the maximum at X units in 2017; however, from 2018 to 2021, imports failed to regain momentum.

In value terms, fuel or lubricating pump imports soared to $X in 2021. The total import value increased at an average annual rate of +4.4% over the period from 2012 to 2021; however, the trend pattern indicated some 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

China (X units), the United States (X units) and Germany (X units) were the main suppliers of fuel or lubricating pump imports to Mexico, with a combined 71% share of total imports. These countries were followed by Brazil, Canada, South Korea and Japan, which together accounted for a further 20%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Brazil (with a CAGR of +19.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), China ($X) and Germany ($X) constituted the largest fuel or lubricating pump suppliers to Mexico, with a combined 66% share of total imports. Canada, South Korea, Japan and Brazil lagged somewhat behind, together accounting for a further 21%.

In terms of the main suppliers, Canada, with a CAGR of +15.8%, recorded 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 2021, the average fuel or lubricating pump import price amounted to $X per unit, falling by -5.5% against the previous year. Over the period under review, 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 26%. Over the period under review, average import prices hit record highs at $X per unit in 2015; however, from 2016 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+8.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :