Mexico: Oil Dispensing Pump Market 2024

Oil Dispensing Pump Market Size in Mexico

In 2021, after three years of decline, there was significant growth in the Mexican oil dispensing pump market, when its value increased by 22% to $X. Overall, consumption, however, continues to indicate a pronounced setback. Oil dispensing pump consumption peaked at $X in 2014; however, from 2015 to 2021, consumption stood at a somewhat lower figure.

Oil Dispensing Pump Production in Mexico

In value terms, oil dispensing pump production amounted to $X in 2021 estimated in export price. Overall, production, however, continues to indicate a abrupt shrinkage. The growth pace was the most rapid in 2017 with an increase of 24% against the previous year. Oil dispensing pump production peaked at $X in 2014; however, from 2015 to 2021, production remained at a lower figure.

Oil Dispensing Pump Exports

Exports from Mexico

In 2021, oil dispensing pump exports from Mexico expanded rapidly to X units, picking up by 12% compared with the previous year. In general, exports, however, saw a abrupt decline. The most prominent rate of growth was recorded in 2020 when exports increased by 207%. Over the period under review, the exports reached the peak figure at X units in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, oil dispensing pump exports shrank remarkably to $X in 2021. Over the period under review, exports, however, showed a abrupt shrinkage. The pace of growth appeared the most rapid in 2020 with an increase of 283% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Trinidad and Tobago (X units), Belgium (X units) and Saudi Arabia (X units) were the main destinations of oil dispensing pump exports from Mexico, with a combined 57% share of total exports. Canada, Costa Rica, Spain, Honduras, Singapore, the United States, Peru and Qatar lagged somewhat behind, together comprising a further 33%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Costa Rica (with a CAGR of +57.0%), while the other leaders experienced more modest paces of growth.

In value terms, Saudi Arabia ($X) remains the key foreign market for petrol and oil dispensing pumps exports from Mexico, comprising 37% of total exports. The second position in the ranking was taken by Canada ($X), with an 11% share of total exports. It was followed by Peru, with a 7.5% share.

From 2012 to 2021, the average annual growth rate of value to Saudi Arabia totaled +14.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (+16.0% per year) and Peru (+19.3% per year).

Export Prices by Country

The average oil dispensing pump export price stood at $X per unit in 2021, declining by -28.7% against the previous year. In general, the export price recorded a deep reduction. The growth pace was the most rapid in 2016 when the average export price increased by 66% against the previous year. The export price peaked at $X per unit in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Peru ($X per unit), while the average price for exports to Belgium ($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 (+8.2%), while the prices for the other major destinations experienced more modest paces of growth.

Oil Dispensing Pump Imports

Imports into Mexico

Oil dispensing pump imports into Mexico surged to X units in 2021, jumping by 127% on the previous year. Over the period under review, imports saw a resilient expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, oil dispensing pump imports fell to $X in 2021. In general, imports posted a prominent increase. The growth pace was the most rapid in 2020 with an increase of 402% against the previous year. As a result, imports attained the peak of $X, and then reduced in the following year.

Imports by Country

The United States (X units), Italy (X units) and China (X units) were the main suppliers of oil dispensing pump imports to Mexico, with a combined 62% share of total imports. These countries were followed by India, which accounted for a further 4.7%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by India (with a CAGR of +62.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) constituted the largest supplier of petrol and oil dispensing pumps to Mexico, comprising 86% of total imports. The second position in the ranking was held by Italy ($X), with a 6.6% share of total imports. It was followed by China, with a 1.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the United States amounted to +9.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+46.5% per year) and China (+38.0% per year).

Import Prices by Country

In 2021, the average oil dispensing pump import price amounted to $X per unit, with a decrease of -59.4% against the previous year. Overall, the import price saw a noticeable decline. The pace of growth appeared the most rapid in 2020 when the average import price increased by 146% against the previous year. As a result, import price attained the peak level of $X per unit, and then declined markedly in the following year.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+14.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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