Asia: 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 Asia

The Asian market for internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) fell notably to $X in 2021, which is down by -27.8% against the previous year. In general, consumption saw a mild decline. Over the period under review, the market attained the maximum level at $X in 2020, and then fell rapidly in the following year.

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

In value terms, production of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) contracted to $X in 2021 estimated in export price. Over the period under review, production, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 18% against the previous year. As a result, production reached the peak level of $X, and then contracted in the following year.

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

Exports in Asia

In 2021, approx. X tons of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) were exported in Asia; picking up by 55% against 2020. Total exports indicated a buoyant expansion from 2012 to 2021: its volume increased at an average annual rate of +7.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +57.7% against 2019 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, exports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) soared to $X in 2021. The total export value increased at an average annual rate of +3.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

China was the main exporting country with an export of about X tons, which recorded 58% of total exports. It was distantly followed by Japan (X tons), making up a 34% share of total exports. The following exporters - Turkey (X tons), Thailand (X tons) and South Korea (X tons) - each amounted to a 6% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Turkey (with a CAGR of +55.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest internal combustion engine (excl. diesel, moto vehicle and aircraft) supplying countries in Asia were Japan ($X), China ($X) and Thailand ($X), with a combined 96% share of total exports. These countries were followed by South Korea and Turkey, which together accounted for a further 1.5%.

Turkey, with a CAGR of +40.1%, recorded the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the export price in Asia amounted to $X per ton, reducing by -13.4% against the previous year. Overall, the export price recorded a perceptible downturn. The most prominent rate of growth was recorded in 2019 when the export price increased by 8.6% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Thailand ($X per ton), while Turkey ($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 (+14.5%), while the other leaders experienced mixed trends in the export price figures.

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

Imports in Asia

In 2021, approx. X tons of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) were imported in Asia; surging by 5.6% against 2020 figures. The total import volume increased at an average annual rate of +2.9% over the period from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The most prominent rate of growth was recorded in 2017 with an increase of 14% against the previous year. The volume of import peaked in 2021 and is expected to retain growth in the near future.

In value terms, imports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) expanded notably to $X in 2021. The total import value increased at an average annual rate of +2.3% over the period from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The growth pace was the most rapid in 2017 with an increase of 10% against the previous year. The level of import peaked in 2021 and is expected to retain growth in years to come.

Imports by Country

The countries with the highest levels of imports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) in 2021 were China (X tons), Indonesia (X tons), Saudi Arabia (X tons), Japan (X tons) and Vietnam (X tons), together resulting at 63% of total import. It was distantly followed by the United Arab Emirates (X tons) and South Korea (X tons), together making up a 12% share of total imports. The following importers - Turkey (X tons), Uzbekistan (X tons), India (X tons) and Malaysia (X tons) - together made up 11% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Uzbekistan (with a CAGR of +165.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constitutes the largest market for imported internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) in Asia, comprising 25% of total imports. The second position in the ranking was taken by Vietnam ($X), with an 11% share of total imports. It was followed by Japan, with an 8.7% share.

From 2012 to 2021, the average annual growth rate of value in China totaled +2.2%. In the other countries, the average annual rates were as follows: Vietnam (+23.9% per year) and Japan (-1.8% per year).

Import Prices by Country

The import price in Asia stood at $X per ton in 2021, remaining relatively unchanged against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the import price increased by 6.2%. The level of import peaked at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Malaysia ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Uzbekistan (+42.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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