Asia-Pacific: Market for Equipment For Internal Combustion Engines 2024

Market Size for Equipment For Internal Combustion Engines in Asia-Pacific

The Asia-Pacific internal combustion engine equipment market reduced slightly to $X in 2022, shrinking by -3.5% against the previous year. In general, consumption showed a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2017 to 2022, the growth of the market remained at a somewhat lower figure.

Production of Equipment For Internal Combustion Engines in Asia-Pacific

In value terms, internal combustion engine equipment production reduced to $X in 2022 estimated in export price. Overall, production continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 with an increase of 16% against the previous year. As a result, production attained the peak level of $X. From 2017 to 2022, production growth failed to regain momentum.

Exports of Equipment For Internal Combustion Engines

Exports in Asia-Pacific

In 2022, exports of equipment for internal combustion engines in Asia-Pacific contracted to X units, waning by -10.6% on the year before. In general, exports recorded a slight downturn. The pace of growth was the most pronounced in 2021 with an increase of 52% against the previous year. Over the period under review, the exports reached the peak figure at X units in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, internal combustion engine equipment exports contracted dramatically to $X in 2022. Overall, exports recorded a perceptible decrease. The pace of growth appeared the most rapid in 2021 with an increase of 29%. Over the period under review, the exports reached the maximum at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

China was the largest exporter of equipment for internal combustion engines in Asia-Pacific, with the volume of exports reaching X units, which was near 43% of total exports in 2022. Thailand (X units) ranks second in terms of the total exports with a 26% share, followed by Japan (21%) and India (5.3%). Taiwan (Chinese) (X units) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +27.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), China ($X) and Thailand ($X) were the countries with the highest levels of exports in 2022, together accounting for 79% of total exports. India and Taiwan (Chinese) lagged somewhat behind, together accounting for a further 9.7%.

In terms of the main exporting countries, India, with a CAGR of +16.3%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Asia-Pacific stood at $X per unit in 2022, with a decrease of -10.4% against the previous year. Overall, the export price saw a noticeable decrease. The pace of growth was the most pronounced in 2015 an increase of 12% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2016 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Taiwan (Chinese) ($X per unit), while Thailand ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+4.7%), while the other leaders experienced more modest paces of growth.

Imports of Equipment For Internal Combustion Engines

Imports in Asia-Pacific

In 2022, supplies from abroad of equipment for internal combustion engines increased by 3.4% to X units, rising for the second consecutive year after two years of decline. In general, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when imports increased by 37%. As a result, imports attained the peak of X units. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, internal combustion engine equipment imports dropped modestly to $X in 2022. Over the period under review, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 18%. Over the period under review, imports attained the maximum at $X in 2016; however, from 2017 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Thailand (X units), distantly followed by Japan (X units), Vietnam (X units), China (X units), Indonesia (X units), India (X units) and South Korea (X units) were the major importers of equipment for internal combustion engines, together committing 82% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by India (with a CAGR of +16.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Thailand ($X) constitutes the largest market for imported equipment for internal combustion engines in Asia-Pacific, comprising 27% of total imports. The second position in the ranking was held by Vietnam ($X), with an 11% share of total imports. It was followed by Japan, with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Thailand stood at +8.0%. In the other countries, the average annual rates were as follows: Vietnam (+7.9% per year) and Japan (+2.9% per year).

Import Prices by Country

In 2022, the import price in Asia-Pacific amounted to $X per unit, falling by -4.3% against the previous year. Overall, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 an increase of 18%. The level of import peaked at $X per unit in 2016; however, from 2017 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was India ($X per unit), while Japan ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+0.3%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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