Venezuela: Starter Motor Market 2024

Starter Motor Market Size in Venezuela

The Venezuelan starter motor market soared to $X in 2021, growing by 47% 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, consumption, however, saw a significant decrease. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Starter Motor Exports

Exports from Venezuela

In 2021, approx. X units of starter motors and dual purpose starter generators were exported from Venezuela; picking up by 65% on 2020. Overall, exports showed a significant increase. The pace of growth appeared the most rapid in 2013 when exports increased by 12,472% against the previous year. As a result, the exports attained the peak of X units. From 2014 to 2021, the growth of the exports failed to regain momentum.

In value terms, starter motor exports skyrocketed to $X in 2021. In general, exports continue to indicate a significant increase. The pace of growth appeared the most rapid in 2013 when exports increased by 7,754%. Over the period under review, the exports reached the maximum at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

Panama (X units) was the main destination for starter motor exports from Venezuela, accounting for a 92% share of total exports. Moreover, starter motor exports to Panama exceeded the volume sent to the second major destination, the United States (X units), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Panama amounted to +76.9%.

In value terms, the United States ($X) remains the key foreign market for starter motors and dual purpose starter generators exports from Venezuela, comprising 76% of total exports. The second position in the ranking was taken by Panama ($X), with a 23% share of total exports.

From 2012 to 2021, the average annual growth rate of value to the United States amounted to +63.6%.

Export Prices by Country

In 2021, the average starter motor export price amounted to $X per unit, surging by 13% against the previous year. Overall, the export price, however, continues to indicate a noticeable descent. The growth pace was the most rapid in 2015 when the average export price increased by 165%. Over the period under review, the average export prices hit record highs at $X per unit in 2017; however, from 2018 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was the United States ($X per unit), while the average price for exports to Panama amounted to $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Chile (+377.8%), while the prices for the other major destinations experienced more modest paces of growth.

Starter Motor Imports

Imports into Venezuela

In 2021, the amount of starter motors and dual purpose starter generators imported into Venezuela skyrocketed to X units, with an increase of 94% against the previous year's figure. Overall, imports, however, showed a abrupt descent. The pace of growth appeared the most rapid in 2018 with an increase of 163%. Over the period under review, imports attained the peak figure at X units in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, starter motor imports expanded remarkably to $X in 2021. In general, imports, however, recorded a precipitous decline. The most prominent rate of growth was recorded in 2019 with an increase of 157% against the previous year. Imports peaked at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, the United States (X units) constituted the largest supplier of starter motor to Venezuela, accounting for a 74% share of total imports. Moreover, starter motor imports from the United States exceeded the figures recorded by the second-largest supplier, China (X units), fourfold.

From 2012 to 2021, the average annual growth rate of volume from the United States stood at -15.6%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-21.1% per year) and Panama (-28.7% per year).

In value terms, the United States ($X) constituted the largest supplier of starter motors and dual purpose starter generators to Venezuela, comprising 79% of total imports. The second position in the ranking was taken by China ($X), with a 12% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from the United States totaled -20.1%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-32.0% per year) and Panama (-35.4% per year).

Import Prices by Country

The average starter motor import price stood at $X per unit in 2021, falling by -45.8% against the previous year. In general, the import price continues to indicate a deep downturn. The most prominent rate of growth was recorded in 2014 when the average import price increased by 22%. As a result, import price attained the peak level of $X per unit. From 2015 to 2021, the average 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 United States (-5.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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