Puerto Rico: Market for Motorcycles and Cycles With an Auxiliary Motor 2024

Market Size for Motorcycles and Cycles With an Auxiliary Motor in Puerto Rico

The Puerto Rican market for motorcycles and cycles with an auxiliary motor was finally on the rise to reach $X in 2021, after two years of decline. Over the period under review, consumption, however, continues to indicate a deep slump. Puerto Rico consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Production of Motorcycles and Cycles With an Auxiliary Motor in Puerto Rico

In value terms, production of motorcycles and cycles with an auxiliary motor rose significantly to $X in 2021 estimated in export price. Over the period under review, production, however, recorded a abrupt downturn. The most prominent rate of growth was recorded in 2018 when the production volume increased by 30% against the previous year. Puerto Rico production peaked at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

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Exports of Motorcycles and Cycles With an Auxiliary Motor

Exports from Puerto Rico

In 2021, exports of motorcycles and cycles with an auxiliary motor from Puerto Rico totaled less than X units, remaining constant against the year before. In general, exports saw a relatively flat trend pattern.

In value terms, exports of motorcycles and cycles with an auxiliary motor totaled less than $X in 2021. Over the period under review, exports recorded a relatively flat trend pattern.

Exports by Country

In 2021, China (X units) was the main exporter of motorcycles and cycles with an auxiliary motor, generating 72% of total exports. It was distantly followed by Japan (X units), comprising an 11% share of total exports. The following exporters - Italy (X units), Thailand (X units), the Netherlands (X units), Belgium (X units) and Taiwan (Chinese) (X units) - together made up 10% of total exports.

China experienced a relatively flat trend pattern with regard to volume of exports of motorcycles and cycles with an auxiliary motor. At the same time, Thailand (+30.6%) and the Netherlands (+10.8%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing exporter exported in the world, with a CAGR of +30.6% from 2012-2021. Belgium experienced a relatively flat trend pattern. By contrast, Japan (-4.2%), Italy (-4.6%) and Taiwan (Chinese) (-18.6%) illustrated a downward trend over the same period. From 2012 to 2021, the share of China and Thailand increased by +5.6 and +2.2 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest motorcycles and cycles with an auxiliary motor supplier from Puerto Rico, comprising 54% of global exports. The second position in the ranking was held by Italy ($X), with a 14% share of global exports. It was followed by Japan, with a 7.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value in China totaled -1.6%. The remaining exporting countries recorded the following average annual rates of exports growth: Italy (-2.5% per year) and Japan (-3.1% per year).

Export Prices by Country

The export price in Puerto Rico stood at less than $X per thousand units in 2021, remaining relatively unchanged against the previous year. Overall, the export price saw a relatively flat trend pattern.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Italy ($X per thousand units), while Japan ($X per thousand units) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+3.9%), while the other leaders experienced more modest paces of growth.

Imports of Motorcycles and Cycles With an Auxiliary Motor

Imports into Puerto Rico

In 2021, imports of motorcycles and cycles with an auxiliary motor into Puerto Rico stood at less than X units, remaining stable against the previous year's figure. Overall, imports continue to indicate a relatively flat trend pattern.

In value terms, imports of motorcycles and cycles with an auxiliary motor amounted to less than $X in 2021. Over the period under review, imports recorded a relatively flat trend pattern.

Imports by Country

In 2021, Morocco (X units), distantly followed by the United States (X units), the Netherlands (X units), Russia (X units), France (X units) and Cambodia (X units) represented the main importers of motorcycles and cycles with an auxiliary motor, together mixing up 50% of total imports. The following importers - Myanmar (X units), Belgium (X units), Germany (X units), Italy (X units), the United Arab Emirates (X units), Ukraine (X units) and Brazil (X units) - together made up 21% of total imports.

Imports into Morocco increased at an average annual rate of +25.4% from 2012 to 2021. At the same time, Myanmar (+38.3%), Cambodia (+33.4%), the Netherlands (+3.9%) and Belgium (+2.8%) displayed positive paces of growth. Moreover, Myanmar emerged as the fastest-growing importer imported in the world, with a CAGR of +38.3% from 2012-2021. The United States experienced a relatively flat trend pattern. By contrast, the United Arab Emirates (-1.5%), France (-2.1%), Ukraine (-3.9%), Italy (-5.3%), Germany (-11.4%), Russia (-14.5%) and Brazil (-16.5%) illustrated a downward trend over the same period. While the share of Morocco (+15 p.p.), Cambodia (+4.4 p.p.), Myanmar (+3.8 p.p.), the Netherlands (+3.8 p.p.), the United States (+2.2 p.p.) and Belgium (+1.7 p.p.) increased significantly in terms of the global imports from 2012-2021, the share of Germany (-3.3 p.p.), Brazil (-5.9 p.p.) and Russia (-12.3 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Morocco ($X), the Netherlands ($X) and France ($X) constituted the countries with the highest levels of imports in 2021, together accounting for 35% of total imports. The United States, Italy, Germany, Belgium, Russia, Myanmar, the United Arab Emirates, Brazil, Cambodia and Ukraine lagged somewhat behind, together accounting for a further 32%.

In terms of the main importing countries, Myanmar, with a CAGR of +24.8%, saw 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

The import price in Puerto Rico stood at less than $X per thousand units in 2021, stabilizing at the previous year. Over the period under review, the import price saw a relatively flat trend pattern.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Italy ($X per thousand units), while Cambodia ($X per thousand units) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+3.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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