Mexico: Ship Propeller Market 2025

Ship Propeller Market Size in Mexico

The Mexican ship propeller market contracted remarkably to $X in 2022, waning by -17.5% against the previous year. Over the period under review, consumption, however, showed buoyant growth. Ship propeller consumption peaked at $X in 2021, and then contracted significantly in the following year.

Ship Propeller Production in Mexico

In value terms, ship propeller production dropped modestly to $X in 2022 estimated in export price. In general, production showed a perceptible slump. The growth pace was the most rapid in 2019 with an increase of 267% against the previous year. Ship propeller production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Ship Propeller Exports

Exports from Mexico

Ship propeller exports from Mexico skyrocketed to X tons in 2022, rising by 40% on 2021. Overall, exports, however, recorded a pronounced slump. The pace of growth was the most pronounced in 2017 with an increase of 64% against the previous year. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, ship propeller exports skyrocketed to $X in 2022. In general, exports, however, showed a pronounced downturn. The pace of growth appeared the most rapid in 2017 when exports increased by 32% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

The United States (X tons) was the main destination for ship propeller exports from Mexico, accounting for a 84% share of total exports. Moreover, ship propeller exports to the United States exceeded the volume sent to the second major destination, China (X tons), more than tenfold. Canada (X tons) ranked third in terms of total exports with a 2.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States totaled -2.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+61.6% per year) and Canada (+3.2% per year).

In value terms, the United States ($X) remains the key foreign market for ships’ or boats’ propellers and blades therefor exports from Mexico, comprising 76% of total exports. The second position in the ranking was taken by China ($X), with an 8% share of total exports. It was followed by Canada, with a 3.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States amounted to -5.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+70.7% per year) and Canada (+0.8% per year).

Export Prices by Country

The average ship propeller export price stood at $X per ton in 2022, which is down by -14.6% against the previous year. Overall, the export price saw a noticeable descent. The most prominent rate of growth was recorded in 2018 an increase of 42% against the previous year. The export price peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Belgium ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (+5.6%), while the prices for the other major destinations experienced mixed trend patterns.

Ship Propeller Imports

Imports into Mexico

In 2022, the amount of ships’ or boats’ propellers and blades therefor imported into Mexico contracted sharply to X tons, waning by -15.8% against the year before. In general, imports, however, continue to indicate prominent growth. The most prominent rate of growth was recorded in 2021 when imports increased by 228% against the previous year. As a result, imports reached the peak of X tons, and then dropped dramatically in the following year.

In value terms, ship propeller imports soared to $X in 2022. Overall, imports, however, recorded a remarkable increase. The most prominent rate of growth was recorded in 2021 with an increase of 96% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, Taiwan (Chinese) (X tons) constituted the largest supplier of ship propeller to Mexico, with a 63% share of total imports. Moreover, ship propeller imports from Taiwan (Chinese) exceeded the figures recorded by the second-largest supplier, the United States (X tons), fourfold. The third position in this ranking was taken by Norway (X tons), with a 5.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Taiwan (Chinese) amounted to +39.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-5.5% per year) and Norway (+51.3% per year).

In value terms, Taiwan (Chinese) ($X) constituted the largest supplier of ships’ or boats’ propellers and blades therefor to Mexico, comprising 68% of total imports. The second position in the ranking was taken by the United States ($X), with a 21% share of total imports. It was followed by Norway, with a 3.9% share.

From 2012 to 2022, the average annual growth rate of value from Taiwan (Chinese) stood at +53.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-1.1% per year) and Norway (+41.3% per year).

Import Prices by Country

In 2022, the average ship propeller import price amounted to $X per ton, growing by 38% against the previous year. Over the period under review, import price indicated a noticeable increase from 2012 to 2022: its price increased at an average annual rate of +3.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, ship propeller import price decreased by -17.6% against 2020 indices. The pace of growth appeared the most rapid in 2016 an increase of 46% against the previous year. The import price peaked at $X per ton in 2020; however, from 2021 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+29.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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