Peru: Market for Diesel Engines (Other Than For Motor Vehicles And Aircraft) 2024

Market Size for Diesel Engines (Other Than For Motor Vehicles And Aircraft) in Peru

The Peruvian market for diesel engines (other than for motor vehicles and aircraft) expanded significantly to $X in 2022, growing by 15% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption continues to indicate buoyant growth. Consumption of peaked in 2022 and is expected to retain growth in the immediate term.

Exports of Diesel Engines (Other Than For Motor Vehicles And Aircraft)

Exports from Peru

Exports of diesel engines (other than for motor vehicles and aircraft) from Peru fell markedly to X units in 2022, reducing by -20.9% against the previous year. In general, exports showed a abrupt slump. The most prominent rate of growth was recorded in 2017 when exports increased by 186%. The exports peaked at X units in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

In value terms, exports of diesel engines (other than for motor vehicles and aircraft) dropped to $X in 2022. Overall, exports continue to indicate a abrupt descent. The most prominent rate of growth was recorded in 2014 with an increase of 97% against the previous year. The exports peaked at $X in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

Exports by Country

The United States (X units) was the main destination for exports of diesel engines (other than for motor vehicles and aircraft) from Peru, accounting for a 38% share of total exports. Moreover, exports of diesel engines (other than for motor vehicles and aircraft) to the United States exceeded the volume sent to the second major destination, Ecuador (X units), twofold. The third position in this ranking was taken by Germany (X units), with an 8.8% share.

From 2012 to 2022, the average annual growth rate of volume to the United States amounted to -9.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ecuador (-14.3% per year) and Germany (+13.0% per year).

In value terms, the United States ($X) remains the key foreign market for diesel engines (other than for motor vehicles and aircraft) exports from Peru, comprising 56% of total exports. The second position in the ranking was taken by Ecuador ($X), with a 17% share of total exports. It was followed by Germany, with a 9.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States totaled -6.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ecuador (-24.4% per year) and Germany (-5.2% per year).

Export Prices by Country

In 2022, the average export price for diesel engines (other than for motor vehicles and aircraft) amounted to $X per unit, increasing by 10% against the previous year. Over the period under review, the export price, however, continues to indicate a abrupt decline. The growth pace was the most rapid in 2016 an increase of 35%. Over the period under review, the average export prices hit record highs at $X per unit in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to Brazil ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Bolivia (+52.0%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Diesel Engines (Other Than For Motor Vehicles And Aircraft)

Imports into Peru

Imports of diesel engines (other than for motor vehicles and aircraft) into Peru soared to X units in 2022, rising by 23% on 2021 figures. Over the period under review, imports enjoyed prominent growth. The most prominent rate of growth was recorded in 2015 when imports increased by 44% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, imports of diesel engines (other than for motor vehicles and aircraft) fell to $X in 2022. In general, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when imports increased by 74% against the previous year. As a result, imports reached the peak of $X. From 2020 to 2022, the growth of imports of remained at a somewhat lower figure.

Imports by Country

In 2022, China (X units) constituted the largest supplier of diesel engines (other than for motor vehicles and aircraft) to Peru, accounting for a 88% share of total imports. It was followed by the United States (X units), with a 2.5% share of total imports. Brazil (X units) ranked third in terms of total imports with a 2.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +36.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-2.3% per year) and Brazil (-5.6% per year).

In value terms, the largest diesel engines (other than for motor vehicles and aircraft) suppliers to Peru were the United States ($X), China ($X) and the UK ($X), together comprising 68% of total imports.

China, with a CAGR of +12.4%, saw the highest rates of growth with regard to the value of imports, among the main suppliers 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 import price for diesel engines (other than for motor vehicles and aircraft) amounted to $X per unit, reducing by -26.8% against the previous year. Over the period under review, the import price showed a drastic downturn. The growth pace was the most rapid in 2019 an increase of 39%. The import price peaked at $X per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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 the UK ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+11.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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