ASEAN: Motor Vehicle Engine Market 2025

Motor Vehicle Engine Market Size in ASEAN

After three years of growth, the ASEAN motor vehicle engine market decreased by -7% to $X in 2021. The total consumption indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +7.7% 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 +95.0% against 2012 indices. The level of consumption peaked at $X in 2020, and then declined in the following year.

Motor Vehicle Engine Production in ASEAN

In value terms, motor vehicle engine production fell to $X in 2021 estimated in export price. The total production indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +8.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +106.5% against 2012 indices. The most prominent rate of growth was recorded in 2014 when the production volume increased by 19% against the previous year. Over the period under review, production reached the peak level at $X in 2020, and then fell in the following year.

Motor Vehicle Engine Exports

Exports in ASEAN

In 2021, overseas shipments of motor vehicle engines (spark-ignition) increased by 2.1% to X tons for the first time since 2018, thus ending a two-year declining trend. The total export volume increased at an average annual rate of +2.8% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2015 when exports increased by 16% against the previous year. The volume of export peaked at X tons in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, motor vehicle engine exports rose remarkably to $X in 2021. The total export value increased at an average annual rate of +3.4% over the period from 2012 to 2021; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 with an increase of 14%. Over the period under review, the exports attained the peak figure at $X in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

In 2021, Indonesia (X tons) was the key exporter of motor vehicle engines (spark-ignition), creating 65% of total exports. It was distantly followed by Thailand (X tons), making up a 29% share of total exports. Vietnam (X tons) followed a long way behind the leaders.

Exports from Indonesia increased at an average annual rate of +14.0% from 2012 to 2021. At the same time, Vietnam (+17.5%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +17.5% from 2012-2021. By contrast, Thailand (-6.4%) illustrated a downward trend over the same period. Indonesia (+39 p.p.) and Vietnam (+3.1 p.p.) significantly strengthened its position in terms of the total exports, while Thailand saw its share reduced by -38.2% from 2012 to 2021, respectively.

In value terms, the largest motor vehicle engine supplying countries in ASEAN were Thailand ($X), Indonesia ($X) and Vietnam ($X), together comprising 98% of total exports.

Indonesia, with a CAGR of +18.4%, recorded the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2021, the export price in ASEAN amounted to $X per ton, increasing by 8% against the previous year. In general, the export price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when the export price increased by 14%. Over the period under review, the export prices reached the maximum in 2021 and is likely to see gradual growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Thailand ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+4.3%), while the other leaders experienced mixed trends in the export price figures.

Motor Vehicle Engine Imports

Imports in ASEAN

In 2021, supplies from abroad of motor vehicle engines (spark-ignition) was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Over the period under review, imports, however, recorded a perceptible slump. The most prominent rate of growth was recorded in 2016 when imports increased by 18%. As a result, imports attained the peak of X tons. From 2017 to 2021, the growth of imports remained at a lower figure.

In value terms, motor vehicle engine imports stood at $X in 2021. Overall, imports, however, saw a slight slump. The pace of growth appeared the most rapid in 2018 when imports increased by 19%. Over the period under review, imports reached the maximum at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Vietnam (X tons) represented the key importer of motor vehicle engines (spark-ignition), generating 45% of total imports. Thailand (X tons) ranks second in terms of the total imports with a 21% share, followed by Malaysia (16%) and Indonesia (15%).

Vietnam was also the fastest-growing in terms of the motor vehicle engines (spark-ignition) imports, with a CAGR of +19.0% from 2012 to 2021. Indonesia (-1.2%), Malaysia (-5.8%) and Thailand (-10.7%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Vietnam and Indonesia increased by +38 and +2.7 percentage points, respectively.

In value terms, Vietnam ($X), Thailand ($X) and Malaysia ($X) were the countries with the highest levels of imports in 2021, together comprising 87% of total imports.

Vietnam, with a CAGR of +20.5%, saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced a decline in the imports figures.

Import Prices by Country

The import price in ASEAN stood at $X per ton in 2021, picking up by 4.6% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.3%. The pace of growth was the most pronounced in 2018 an increase of 18%. The level of import peaked in 2021 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Thailand ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+4.0%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform