Mexico: Market for Internal Combustion Engines, Excluding Diesel (Other Than For Motor Vehicles And Aircraft) 2024

Market Size for Internal Combustion Engines, Excluding Diesel (Other Than For Motor Vehicles And Aircraft) in Mexico

After two years of decline, the Mexican market for internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) increased by 25% to $X in 2021. The market value increased at an average annual rate of +3.5% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Consumption of peaked at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Production of Internal Combustion Engines, Excluding Diesel (Other Than For Motor Vehicles And Aircraft) in Mexico

In value terms, production of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) surged to $X in 2021 estimated in export price. Over the period under review, production, however, saw a abrupt contraction. Over the period under review, production of attained the maximum level at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Exports of Internal Combustion Engines, Excluding Diesel (Other Than For Motor Vehicles And Aircraft)

Exports from Mexico

In 2021, exports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) from Mexico contracted to X tons, waning by -7.2% compared with 2020 figures. Over the period under review, exports faced a precipitous decline. The growth pace was the most rapid in 2020 with an increase of 94% against the previous year. The exports peaked at X tons in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

In value terms, exports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) expanded markedly to $X in 2021. In general, exports saw a sharp descent. The growth pace was the most rapid in 2020 when exports increased by 43% against the previous year. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X tons) was the main destination for exports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) from Mexico, accounting for a 82% share of total exports. Moreover, exports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) to the United States exceeded the volume sent to the second major destination, Canada (X tons), more than tenfold. The third position in this ranking was held by Austria (X tons), with a 1.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States totaled -20.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (-3.1% per year) and Austria (-5.9% per year).

In value terms, the United States ($X) remains the key foreign market for internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) exports from Mexico, comprising 81% of total exports. The second position in the ranking was held by Canada ($X), with a 3.4% share of total exports. It was followed by Austria, with a 1.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States amounted to -21.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (-0.4% per year) and Austria (-2.0% per year).

Export Prices by Country

The average export price for internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) stood at $X per ton in 2021, picking up by 17% against the previous year. In general, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the average export price increased by 23%. As a result, the export price reached the peak level of $X per ton. From 2018 to 2021, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Austria ($X per ton), while the average price for exports to Peru ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Austria (+4.1%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Internal Combustion Engines, Excluding Diesel (Other Than For Motor Vehicles And Aircraft)

Imports into Mexico

In 2021, the amount of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) imported into Mexico surged to X tons, rising by 27% on the previous year's figure. Over the period under review, total imports indicated a prominent expansion from 2012 to 2021: its volume increased at an average annual rate of +6.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, imports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) surged to $X in 2021. In general, total imports indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +7.7% over the last nine years. The trend pattern, however, 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.

Imports by Country

The United States (X tons), China (X tons) and Austria (X tons) were the main suppliers of imports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) to Mexico, with a combined 80% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Austria (with a CAGR of +23.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) constituted the largest supplier of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) to Mexico, comprising 38% of total imports. The second position in the ranking was held by China ($X), with an 18% share of total imports. It was followed by Austria, with an 18% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the United States stood at +9.9%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-0.9% per year) and Austria (+20.3% per year).

Import Prices by Country

The average import price for internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) stood at $X per ton in 2021, remaining stable against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 when the average import price increased by 10% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2018; however, from 2019 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+2.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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