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

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

In 2021, the Peruvian market for internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. In general, the total consumption indicated a perceptible increase from 2012 to 2021: its value increased at an average annual rate of +2.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Exports of Internal Combustion Engines, Excluding Diesel (Other Than For Motor Vehicles And Aircraft)

Exports from Peru

In 2021, shipments abroad of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) increased by 91% to X tons, rising for the second year in a row after four years of decline. Overall, exports recorded a noticeable increase. The growth pace was the most rapid in 2020 when exports increased by 1,649% against the previous year. Over the period under review, the exports of attained the maximum at X tons in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

In value terms, exports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) soared to $X in 2021. Over the period under review, exports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when exports increased by 724% against the previous year. Over the period under review, the exports of attained the maximum at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

Ecuador (X tons) was the main destination for exports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) from Peru, with a 67% share of total exports. Moreover, exports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) to Ecuador exceeded the volume sent to the second major destination, Chile (X tons), sixfold. Colombia (X tons) ranked third in terms of total exports with an 8.4% share.

From 2012 to 2021, the average annual growth rate of volume to Ecuador totaled +5.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Chile (+2.6% per year) and Colombia (-18.5% per year).

In value terms, Ecuador ($X) emerged as the key foreign market for internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) exports from Peru, comprising 48% of total exports. The second position in the ranking was taken by Mexico ($X), with a 16% share of total exports. It was followed by the United Arab Emirates, with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Ecuador stood at +3.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (+53.3% per year) and the United Arab Emirates (0.0% per year).

Export Prices by Country

In 2021, the average export price for internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) amounted to $X per ton, with an increase of 2.4% against the previous year. In general, the export price, however, continues to indicate a perceptible reduction. The most prominent rate of growth was recorded in 2018 when the average export price increased by 67%. Over the period under review, the average export prices reached the maximum at $X per ton in 2019; however, from 2020 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Mexico ($X per ton), while the average price for exports to Colombia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Mexico (+22.6%), while the prices for the other major destinations experienced a decline.

Imports of Internal Combustion Engines, Excluding Diesel (Other Than For Motor Vehicles And Aircraft)

Imports into Peru

In 2021, approx. X tons of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) were imported into Peru; growing by 101% on the year before. In general, imports posted a buoyant increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, imports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) skyrocketed to $X in 2021. Overall, total imports indicated a temperate expansion from 2012 to 2021: its value increased at an average annual rate of +2.0% over the last nine years. 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 tons) constituted the largest internal combustion engine (excl. diesel, moto vehicle and aircraft) supplier to Peru, with a 89% share of total imports. Moreover, imports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), more than tenfold. Thailand (X tons) ranked third in terms of total imports with a 3% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled +10.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+0.8% per year) and Thailand (-9.3% per year).

In value terms, China ($X) constituted the largest supplier of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) to Peru, comprising 68% of total imports. The second position in the ranking was taken by Japan ($X), with a 21% share of total imports. It was followed by the United States, with a 4.5% share.

From 2012 to 2021, the average annual growth rate of value from China amounted to +9.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+1.1% per year) and the United States (-9.5% per year).

Import Prices by Country

In 2021, the average import price for internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) amounted to $X per ton, declining by -6.1% against the previous year. Over the period under review, the import price saw a noticeable setback. The pace of growth was the most pronounced in 2018 when the average import price increased by 3.1% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+0.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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