Peru: Market for Equipment For Internal Combustion Engines 2025

Market Size for Equipment For Internal Combustion Engines in Peru

In 2022, after two years of growth, there was significant decline in the Peruvian internal combustion engine equipment market, when its value decreased by -21% to $X. In general, consumption, however, enjoyed temperate growth. Internal combustion engine equipment consumption peaked at $X in 2021, and then dropped markedly in the following year.

Exports of Equipment For Internal Combustion Engines

Exports from Peru

In 2022, approx. X units of equipment for internal combustion engines were exported from Peru; rising by 29% on the previous year. In general, exports recorded a resilient increase. The most prominent rate of growth was recorded in 2017 when exports increased by 936%. As a result, the exports attained the peak of X units. From 2018 to 2022, the growth of the exports remained at a lower figure.

In value terms, internal combustion engine equipment exports skyrocketed to $X in 2022. Overall, exports posted a moderate increase. The growth pace was the most rapid in 2017 with an increase of 564% against the previous year. Over the period under review, the exports reached the maximum at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

Honduras (X units), Costa Rica (X units) and the United States (X units) were the main destinations of internal combustion engine equipment exports from Peru, with a combined 53% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Honduras (with a CAGR of +47.6%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for equipment for internal combustion engines exports from Peru, comprising 67% of total exports. The second position in the ranking was taken by Guyana ($X), with a 9.7% share of total exports. It was followed by Honduras, with a 3.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States totaled +1.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Guyana (+33.8% per year) and Honduras (+38.2% per year).

Export Prices by Country

The average internal combustion engine equipment export price stood at $X per unit in 2022, growing by 15% against the previous year. Over the period under review, the export price, however, continues to indicate a abrupt decrease. The growth pace was the most rapid in 2016 an increase of 174% against the previous year. The export price peaked 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 export markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to Honduras ($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 Argentina (+2.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Equipment For Internal Combustion Engines

Imports into Peru

In 2022, after three years of growth, there was significant decline in supplies from abroad of equipment for internal combustion engines, when their volume decreased by -24.5% to X units. Overall, imports, however, showed a buoyant expansion. The growth pace was the most rapid in 2014 with an increase of 118% against the previous year. Over the period under review, imports reached the maximum at X units in 2021, and then reduced sharply in the following year.

In value terms, internal combustion engine equipment imports shrank markedly to $X in 2022. Over the period under review, total imports indicated a pronounced increase from 2012 to 2022: its value increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +36.9% against 2019 indices. The most prominent rate of growth was recorded in 2014 with an increase of 84% against the previous year. Over the period under review, imports attained the peak figure at $X in 2021, and then shrank remarkably in the following year.

Imports by Country

In 2022, China (X units) constituted the largest supplier of internal combustion engine equipment to Peru, with a 61% share of total imports. Moreover, internal combustion engine equipment imports from China exceeded the figures recorded by the second-largest supplier, Japan (X units), threefold. The third position in this ranking was held by Brazil (X units), with an 11% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +8.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+1.8% per year) and Brazil (+22.0% per year).

In value terms, the largest internal combustion engine equipment suppliers to Peru were China ($X), Japan ($X) and India ($X), with a combined 79% share of total imports.

In terms of the main suppliers, India, with a CAGR of +24.5%, saw the highest growth rate of 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 2022, the average internal combustion engine equipment import price amounted to $X per unit, increasing by 6.7% against the previous year. Overall, the import price, however, continues to indicate a noticeable slump. The most prominent rate of growth was recorded in 2017 when the average import price increased by 25%. Over the period under review, average import prices hit record highs at $X per unit in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

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 India ($X per unit), while the price for Brazil ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+10.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :