Australia: Internal Combustion Engines Market 2024

Internal Combustion Engines Market Size in Australia

After three years of growth, the Australian internal combustion engines market decreased by -6.4% to $X in 2021. Overall, consumption continues to indicate a slight downturn. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Internal Combustion Engines Production in Australia

In value terms, internal combustion engines production reduced to $X in 2021 estimated in export price. Over the period under review, production showed a slight reduction. The pace of growth appeared the most rapid in 2020 when the production volume increased by 20% against the previous year. Internal combustion engines production peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Internal Combustion Engines Exports

Exports from Australia

Internal combustion engines exports from Australia rose slightly to X units in 2021, with an increase of 4.1% against the previous year's figure. Over the period under review, exports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when exports increased by 64% against the previous year. Over the period under review, the exports reached the peak figure at X units in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

In value terms, internal combustion engines exports reduced markedly to $X in 2021. In general, total exports indicated a noticeable increase from 2012 to 2021: its value increased at an average annual rate of +2.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -32.1% against 2019 indices. The pace of growth was the most pronounced in 2019 when exports increased by 32% against the previous year. As a result, the exports reached the peak of $X. From 2020 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

New Zealand (X units) was the main destination for internal combustion engines exports from Australia, accounting for a 48% share of total exports. Moreover, internal combustion engines exports to New Zealand exceeded the volume sent to the second major destination, the United States (X units), threefold. Belgium (X units) ranked third in terms of total exports with a 9.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to New Zealand amounted to +7.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+12.5% per year) and Belgium (+34.9% per year).

In value terms, the United States ($X), New Zealand ($X) and Papua New Guinea ($X) were the largest markets for internal combustion engines exported from Australia worldwide, with a combined 52% share of total exports. These countries were followed by Indonesia, Belgium, Singapore and Germany, which together accounted for a further 23%.

In terms of the main countries of destination, Belgium, with a CAGR of +35.5%, 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

In 2021, the average internal combustion engines export price amounted to $X per unit, declining by -24.9% against the previous year. Over the period under review, the export price, however, recorded modest growth. The pace of growth was the most pronounced in 2018 when the average export price increased by 125% against the previous year. The export price peaked at $X per unit in 2020, and then contracted significantly in the following year.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Papua New Guinea ($X per unit), while the average price for exports to New Zealand ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Papua New Guinea (+8.8%), while the prices for the other major destinations experienced more modest paces of growth.

Internal Combustion Engines Imports

Imports into Australia

In 2021, overseas purchases of motor vehicles compression-ignition internal combustion piston engines were finally on the rise to reach X units for the first time since 2018, thus ending a two-year declining trend. Overall, imports, however, recorded a pronounced downturn. Over the period under review, imports reached the peak figure at X units in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, internal combustion engines imports skyrocketed to $X in 2021. In general, imports, however, recorded a pronounced decrease. Over the period under review, imports attained the peak figure at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

The United States (X units), Sweden (X units) and Thailand (X units) were the main suppliers of internal combustion engines imports to Australia, with a combined 55% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Thailand (with a CAGR of +25.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Sweden ($X) and Germany ($X) were the largest internal combustion engines suppliers to Australia, with a combined 69% share of total imports. France, the UK, Japan, Thailand and South Korea lagged somewhat behind, together accounting for a further 17%.

In terms of the main suppliers, France, with a CAGR of +19.3%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average internal combustion engines import price amounted to $X per unit, reducing by -7.5% against the previous year. Overall, import price indicated a noticeable expansion from 2012 to 2021: its price increased at an average annual rate of +2.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, internal combustion engines import price decreased by -8.7% against 2019 indices. The most prominent rate of growth was recorded in 2017 when the average import price increased by 46% against the previous year. Over the period under review, average import prices hit record highs at $X per unit in 2019; however, from 2020 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the United States ($X per unit), while the price for Thailand ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+9.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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