Uruguay: Market for Fuel, Lubricating Or Cooling-Medium Pumps For Internal Combustion Engines 2024

Market Size for Fuel, Lubricating Or Cooling-Medium Pumps For Internal Combustion Engines in Uruguay

The Uruguayan fuel or lubricating pump market soared to $X in 2021, growing by 41% 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). In general, the total consumption indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +5.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +45.7% against 2019 indices. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Exports of Fuel, Lubricating Or Cooling-Medium Pumps For Internal Combustion Engines

Exports from Uruguay

In 2021, exports of fuel, lubricating or cooling-medium pumps for internal combustion engines from Uruguay surged to X units, rising by 79% on the year before. Over the period under review, exports continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2013 when exports increased by 562%. Over the period under review, the exports hit record highs at X units in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

In value terms, fuel or lubricating pump exports soared to $X in 2021. In general, exports continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2013 with an increase of 1,440%. The exports peaked at $X in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

Exports by Country

Mexico (X units) was the main destination for fuel or lubricating pump exports from Uruguay, accounting for a 56% share of total exports. Moreover, fuel or lubricating pump exports to Mexico exceeded the volume sent to the second major destination, Venezuela (X units), threefold. The third position in this ranking was taken by the United States (X units), with a 6.7% share.

From 2012 to 2021, the average annual growth rate of volume to Mexico amounted to +81.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Venezuela (+20.9% per year) and the United States (+13.7% per year).

In value terms, the United States ($X) remains the key foreign market for fuel, lubricating or cooling-medium pumps for internal combustion engines exports from Uruguay, comprising 63% of total exports. The second position in the ranking was held by Argentina ($X), with a 9.3% share of total exports. It was followed by Belgium, with a 4.7% share.

From 2012 to 2021, the average annual growth rate of value to the United States totaled +66.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Argentina (+61.4% per year) and Belgium (+25.9% per year).

Export Prices by Country

In 2021, the average fuel or lubricating pump export price amounted to $X per unit, dropping by -30.1% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the average export price increased by 131% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2014 to 2021, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was the United States ($X per unit), while the average price for exports to Mexico ($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 Belgium (+14.4%), while the prices for the other major destinations experienced a decline.

Imports of Fuel, Lubricating Or Cooling-Medium Pumps For Internal Combustion Engines

Imports into Uruguay

In 2021, approx. X units of fuel, lubricating or cooling-medium pumps for internal combustion engines were imported into Uruguay; jumping by 41% compared with 2020 figures. Overall, total imports indicated a noticeable expansion from 2012 to 2021: its volume increased at an average annual rate of +4.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +33.0% against 2018 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, fuel or lubricating pump imports surged to $X in 2021. In general, total imports indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +6.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +45.3% against 2019 indices. The pace of growth was the most pronounced in 2016 with an increase of 47% against the previous year. Imports peaked in 2021 and are likely to see gradual growth in the immediate term.

Imports by Country

China (X units), Brazil (X units) and Argentina (X units) were the main suppliers of fuel or lubricating pump imports to Uruguay, together accounting for 80% of total imports. The UK, France, Germany, the United States, Turkey, Japan and South Korea lagged somewhat behind, together accounting for a further 12%.

From 2012 to 2021, the biggest increases were recorded for Turkey (with a CAGR of +17.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest fuel or lubricating pump suppliers to Uruguay were China ($X), Brazil ($X) and the United States ($X), with a combined 40% share of total imports. Argentina, Germany, the UK, France, Japan, Turkey and South Korea lagged somewhat behind, together comprising a further 26%.

In terms of the main suppliers, Turkey, with a CAGR of +15.1%, recorded the highest rates of growth with regard to 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 2021, the average fuel or lubricating pump import price amounted to $X per unit, almost unchanged from the previous year. Over the last nine years, it increased at an average annual rate of +1.3%. The growth pace was the most rapid in 2016 when the average import price increased by 24% against the previous year. Over the period under review, average import prices attained the peak figure at $X per unit in 2017; however, from 2018 to 2021, import prices remained at a 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 the UK (+4.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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