Peru: Ignition Magneto Market 2024

Ignition Magneto Market Size in Peru

The Peruvian ignition magneto market soared to $X in 2021, increasing by 61% 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). Overall, the total consumption indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +7.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Ignition Magneto Exports

Exports from Peru

In 2021, the amount of ignition magnetos, magneto-dynamos and magnetic flywheels exported from Peru soared to X units, growing by 974% against the year before. In general, exports continue to indicate buoyant growth. The exports peaked at X units in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

In value terms, ignition magneto exports skyrocketed to $X in 2021. Overall, exports continue to indicate modest growth. The exports peaked at $X in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Chile (X units) was the main destination for ignition magneto exports from Peru, with a 73% share of total exports. Moreover, ignition magneto exports to Chile exceeded the volume sent to the second major destination, Argentina (X units), more than tenfold. Belgium (X units) ranked third in terms of total exports with a 6.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Chile stood at +3.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Argentina (+324.3% per year) and Belgium (-8.0% per year).

In value terms, Belgium ($X) emerged as the key foreign market for ignition magnetos, magneto-dynamos and magnetic flywheels exports from Peru, comprising 36% of total exports. The second position in the ranking was held by Chile ($X), with a 15% share of total exports. It was followed by Argentina, with a 13% share.

From 2012 to 2021, the average annual growth rate of value to Belgium was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Chile (-13.3% per year) and Argentina (+374.3% per year).

Export Prices by Country

In 2021, the average ignition magneto export price amounted to $X per unit, falling by -44.2% against the previous year. Overall, the export price recorded a deep reduction. The most prominent rate of growth was recorded in 2020 when the average export price increased by 108% against the previous year. As a result, the export price reached the peak level of $X per unit, and then reduced dramatically in the following year.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Belgium ($X per unit), while the average price for exports to Chile ($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 Argentina (+36.1%), while the prices for the other major destinations experienced more modest paces of growth.

Ignition Magneto Imports

Imports into Peru

In 2021, imports of ignition magnetos, magneto-dynamos and magnetic flywheels into Peru skyrocketed to X units, growing by 55% against the year before. Over the period under review, total imports indicated notable growth from 2012 to 2021: its volume increased at an average annual rate of +3.9% over the last nine-year period. 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.

In value terms, ignition magneto imports surged to $X in 2021. Overall, total imports indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +9.9% over the last nine-year period. 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

In 2021, China (X units) constituted the largest supplier of ignition magneto to Peru, accounting for a 54% share of total imports. Moreover, ignition magneto imports from China exceeded the figures recorded by the second-largest supplier, India (X units), threefold. The third position in this ranking was held by Brazil (X units), with a 15% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled +1.3%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+19.8% per year) and Brazil (+14.2% per year).

In value terms, the largest ignition magneto suppliers to Peru were China ($X), India ($X) and Brazil ($X), with a combined 71% share of total imports.

India, with a CAGR of +31.0%, recorded the highest growth rate of the value of imports, in terms of 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 2021, the average ignition magneto import price amounted to $X per unit, increasing by 6.3% against the previous year. Overall, import price indicated a resilient expansion from 2012 to 2021: its price increased at an average annual rate of +5.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 when the average import price increased by 64%. The import price peaked at $X per unit in 2016; however, from 2017 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: 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 South Korea (+12.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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