Asia: Internal Combustion Engines Market 2024

Internal Combustion Engines Market Size in Asia

The Asian internal combustion engines market was finally on the rise to reach $X in 2021, after three years of decline. Overall, consumption, however, saw a perceptible shrinkage. As a result, consumption attained the peak level of $X. From 2014 to 2021, the growth of the market remained at a lower figure.

Internal Combustion Engines Production in Asia

In value terms, internal combustion engines production totaled $X in 2021 estimated in export price. In general, production, however, continues to indicate a noticeable decrease. The most prominent rate of growth was recorded in 2013 with an increase of 8.7% against the previous year. As a result, production reached the peak level of $X. From 2014 to 2021, production growth remained at a somewhat lower figure.

Internal Combustion Engines Exports

Exports in Asia

Internal combustion engines exports skyrocketed to X units in 2021, jumping by 35% on the year before. Total exports indicated temperate growth from 2012 to 2021: its volume increased at an average annual rate of +4.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, internal combustion engines exports skyrocketed to $X in 2021. Overall, exports, however, saw a slight setback. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

In 2021, Thailand (X units) was the main exporter of motor vehicles compression-ignition internal combustion piston engines, generating 41% of total exports. India (X units) ranks second in terms of the total exports with a 19% share, followed by China (14%), South Korea (9.9%) and Japan (9.3%). The United Arab Emirates (X units) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to internal combustion engines exports from Thailand stood at +15.7%. At the same time, South Korea (+24.6%), India (+23.8%), the United Arab Emirates (+7.2%) and China (+4.6%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing exporter exported in Asia, with a CAGR of +24.6% from 2012-2021. By contrast, Japan (-12.0%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Thailand, India and South Korea increased by +25, +15 and +7.9 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Thailand ($X) remains the largest internal combustion engines supplier in Asia, comprising 41% of total exports. The second position in the ranking was taken by Japan ($X), with a 19% share of total exports. It was followed by China, with a 14% share.

In Thailand, internal combustion engines exports increased at an average annual rate of +6.7% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Japan (-11.9% per year) and China (+1.6% per year).

Export Prices by Country

In 2021, the export price in Asia amounted to $X per unit, leveling off at the previous year. Over the period under review, the export price, however, showed a deep contraction. The most prominent rate of growth was recorded in 2016 when the export price increased by 8.8% against the previous year. Over the period under review, the export prices attained the peak figure at $X per unit in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Japan ($X per unit), while the United Arab Emirates ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+0.1%), while the other leaders experienced a decline in the export price figures.

Internal Combustion Engines Imports

Imports in Asia

In 2021, after five years of decline, there was significant growth in supplies from abroad of motor vehicles compression-ignition internal combustion piston engines, when their volume increased by 25% to X units. Over the period under review, imports, however, showed a relatively flat trend pattern. The volume of import peaked at X units in 2015; however, from 2016 to 2021, imports failed to regain momentum.

In value terms, internal combustion engines imports skyrocketed to $X in 2021. Overall, imports, however, saw a pronounced decrease. The level of import peaked at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Turkey (X units) and Thailand (X units) represented the main importers of motor vehicles compression-ignition internal combustion piston engines in Asia, together recording near 60% of total imports. It was distantly followed by Japan (X units) and Saudi Arabia (X units), together making up a 12% share of total imports. The United Arab Emirates (X units), Indonesia (X units), Malaysia (X units), India (X units), South Korea (X units), Vietnam (X units) and Pakistan (X units) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Vietnam (with a CAGR of +25.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X) constitutes the largest market for imported motor vehicles compression-ignition internal combustion piston engines in Asia, comprising 42% of total imports. The second position in the ranking was held by Thailand ($X), with a 17% share of total imports. It was followed by Japan, with a 7.3% share.

In Turkey, internal combustion engines imports increased at an average annual rate of +1.7% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Thailand (-1.8% per year) and Japan (-7.7% per year).

Import Prices by Country

In 2021, the import price in Asia amounted to $X per unit, picking up by 3.3% against the previous year. Overall, the import price, however, continues to indicate a slight setback. The pace of growth appeared the most rapid in 2017 an increase of 3.9% against the previous year. The level of import peaked at $X per unit in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was South Korea ($X per unit), while Pakistan ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Pakistan (+11.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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