Colombia: 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 Colombia

The Colombian market for internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) rose markedly to $X in 2023, with an increase of X% 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, consumption continues to indicate a resilient expansion. As a result, consumption reached the peak level of $X. From 2022 to 2023, the growth of the market failed to regain momentum.

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

Exports from Colombia

In 2023, approx. X units of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) were exported from Colombia; rising by X% against the year before. Over the period under review, exports continue to indicate a tangible expansion. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. The exports peaked at X units in 2018; however, from 2019 to 2023, the exports remained at a lower figure.

In value terms, exports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) rose remarkably to $X in 2023. In general, exports showed a slight expansion. The growth pace was the most rapid in 2016 when exports increased by X% against the previous year. As a result, the exports reached the peak of $X. From 2017 to 2023, the growth of the exports of failed to regain momentum.

Exports by Country

Peru (X units), Chile (X units) and Austria (X units) were the main destinations of exports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) from Colombia, together comprising X% of total exports.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Peru (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Peru ($X), Austria ($X) and the United States ($X) constituted the largest markets for internal combustion engine (excl. diesel, moto vehicle and aircraft) exported from Colombia worldwide, with a combined X% share of total exports.

Peru, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average export price for internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) stood at $X per unit in 2023, which is down by X% against the previous year. In general, the export price continues to indicate a mild slump. The most prominent rate of growth was recorded in 2015 an increase of X%. Over the period under review, the average export prices hit record highs at $X per unit in 2016; however, from 2017 to 2023, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Costa Rica ($X per unit), while the average price for exports to Aruba ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Mexico (X%), while the prices for the other major destinations experienced more modest paces of growth.

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

Imports into Colombia

Imports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) into Colombia rose slightly to X units in 2023, growing by X% compared with 2022 figures. Overall, imports showed buoyant growth. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. As a result, imports attained the peak of X units. From 2022 to 2023, the growth of imports of remained at a somewhat lower figure.

In value terms, imports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) rose rapidly to $X in 2023. In general, total imports indicated a temperate increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports decreased by X% against 2021 indices. The pace of growth appeared the most rapid in 2015 with an increase of X%. Imports peaked at $X in 2021; however, from 2022 to 2023, imports stood at a somewhat lower figure.

Imports by Country

In 2023, China (X units) constituted the largest internal combustion engine (excl. diesel, moto vehicle and aircraft) supplier to Colombia, accounting for a X% 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 units), tenfold. The third position in this ranking was held by Austria (X units), with a X% share.

From 2012 to 2023, the average annual growth rate of volume from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (X% per year) and Austria (X% per year).

In value terms, the largest internal combustion engine (excl. diesel, moto vehicle and aircraft) suppliers to Colombia were Japan ($X), China ($X) and the United States ($X), together accounting for X% of total imports.

China, with a CAGR of X%, recorded the highest growth rate of the value of imports, among 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 2023, the average import price for internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) amounted to $X per unit, with an increase of X% against the previous year. Overall, the import price, however, continues to indicate a abrupt contraction. The growth pace was the most rapid in 2015 an increase of X%. The import price peaked at $X per unit in 2013; however, from 2014 to 2023, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, 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 2023, the most notable rate of growth in terms of prices was attained by the United States (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform