Australia and Oceania: Market for Equipment For Internal Combustion Engines 2024

Market Size for Equipment For Internal Combustion Engines in Australia and Oceania

The internal combustion engine equipment market in Australia and Oceania shrank to $X in 2022, waning by -7.8% against the previous year. Overall, consumption continues to indicate a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market failed to regain momentum.

Production of Equipment For Internal Combustion Engines in Australia and Oceania

In value terms, internal combustion engine equipment production contracted to $X in 2022 estimated in export price. In general, production continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of 35%. As a result, production attained the peak level of $X. From 2020 to 2022, production growth remained at a somewhat lower figure.

Exports of Equipment For Internal Combustion Engines

Exports in Australia and Oceania

In 2022, overseas shipments of equipment for internal combustion engines decreased by -32.7% to X units, falling for the third year in a row after three years of growth. In general, exports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when exports increased by 113% against the previous year. The volume of export peaked at X units in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, internal combustion engine equipment exports expanded slightly to $X in 2022. Over the period under review, exports, however, continue to indicate a prominent expansion. The most prominent rate of growth was recorded in 2018 when exports increased by 95% against the previous year. The level of export peaked at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

The biggest shipments were from Australia (X units) and New Zealand (X units), together resulting at 98% of total export.

From 2012 to 2022, the biggest increases were recorded for Australia (with a CAGR of +5.0%).

In value terms, Australia ($X) remains the largest internal combustion engine equipment supplier in Australia and Oceania, comprising 81% of total exports. The second position in the ranking was held by New Zealand ($X), with a 19% share of total exports.

In Australia, internal combustion engine equipment exports expanded at an average annual rate of +9.7% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in Australia and Oceania amounted to $X per unit, surging by 55% against the previous year. Overall, the export price enjoyed a resilient increase. The most prominent rate of growth was recorded in 2016 when the export price increased by 75% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2017 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Australia ($X per unit), while New Zealand totaled $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by New Zealand (+15.7%).

Imports of Equipment For Internal Combustion Engines

Imports in Australia and Oceania

In 2022, overseas purchases of equipment for internal combustion engines increased by 8.1% to X units, rising for the second year in a row after two years of decline. Over the period under review, imports, however, continue to indicate a pronounced slump. The most prominent rate of growth was recorded in 2021 with an increase of 26% against the previous year. The volume of import peaked at X units in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, internal combustion engine equipment imports surged to $X in 2022. Overall, imports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 when imports increased by 29% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to see steady growth in the immediate term.

Imports by Country

Australia was the key importing country with an import of around X units, which amounted to 59% of total imports. It was distantly followed by New Zealand (X units), making up a 37% share of total imports. Fiji (X units) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Australia (with a CAGR of -0.4%), while imports for the other leaders experienced a decline in the imports figures.

In value terms, Australia ($X) constitutes the largest market for imported equipment for internal combustion engines in Australia and Oceania, comprising 75% of total imports. The second position in the ranking was taken by New Zealand ($X), with a 19% share of total imports.

In Australia, internal combustion engine equipment imports expanded at an average annual rate of +2.7% over the period from 2012-2022. In the other countries, the average annual rates were as follows: New Zealand (+0.7% per year) and Fiji (+1.6% per year).

Import Prices by Country

In 2022, the import price in Australia and Oceania amounted to $X per unit, increasing by 17% against the previous year. Over the last decade, it increased at an average annual rate of +3.8%. The pace of growth appeared the most rapid in 2015 an increase of 37% against the previous year. As a result, import price reached the peak level of $X per unit. From 2016 to 2022, the import prices remained at a lower figure.

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 Australia ($X per unit), while New Zealand ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by New Zealand (+5.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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