China: Market for Equipment For Internal Combustion Engines 2025

Market Size for Equipment For Internal Combustion Engines in China

The Chinese internal combustion engine equipment market dropped slightly to $X in 2022, which is down by -1.9% against the previous year. The market value increased at an average annual rate of +2.3% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Internal combustion engine equipment consumption peaked at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Production of Equipment For Internal Combustion Engines in China

In value terms, internal combustion engine equipment production contracted slightly to $X in 2022 estimated in export price. Over the period under review, the total production indicated a moderate increase from 2012 to 2022: its value increased at an average annual rate of +2.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +1.8% against 2020 indices. The pace of growth appeared the most rapid in 2016 when the production volume increased by 50%. Over the period under review, production attained the maximum level at $X in 2017; however, from 2018 to 2022, production stood at a somewhat lower figure.

Exports of Equipment For Internal Combustion Engines

Exports from China

In 2022, shipments abroad of equipment for internal combustion engines increased by 3.1% to X units, rising for the second consecutive year after two years of decline. Overall, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 40% against the previous year. The exports peaked at X units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, internal combustion engine equipment exports expanded significantly to $X in 2022. The total export value increased at an average annual rate of +4.3% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when exports increased by 42%. Over the period under review, the exports attained the peak figure in 2022 and are likely to see steady growth in the immediate term.

Exports by Country

Indonesia (X units), Japan (X units) and the United States (X units) were the main destinations of internal combustion engine equipment exports from China, together accounting for 21% of total exports. Vietnam, Brazil, Pakistan, Bangladesh, the Philippines, Iraq, Colombia, the United Arab Emirates, Egypt and Malaysia lagged somewhat behind, together accounting for a further 38%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Bangladesh (with a CAGR of +31.0%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for internal combustion engine equipment exported from China were the United States ($X), Indonesia ($X) and Japan ($X), together comprising 27% of total exports. Vietnam, Pakistan, the Philippines, Brazil, Malaysia, the United Arab Emirates, Colombia, Bangladesh, Egypt and Iraq lagged somewhat behind, together comprising a further 27%.

In terms of the main countries of destination, Bangladesh, with a CAGR of +26.7%, recorded the highest growth rate of 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 2022, the average internal combustion engine equipment export price amounted to $X per unit, growing by 6.4% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +4.7%. The most prominent rate of growth was recorded in 2016 when the average export price increased by 25% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2017 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to Iraq ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+9.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Equipment For Internal Combustion Engines

Imports into China

In 2022, internal combustion engine equipment imports into China declined to X units, which is down by -9.2% on the previous year's figure. In general, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of 27% against the previous year. Over the period under review, imports reached the maximum at X units in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, internal combustion engine equipment imports contracted significantly to $X in 2022. Over the period under review, imports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 with an increase of 27% against the previous year. Imports peaked at $X in 2021, and then shrank rapidly in the following year.

Imports by Country

Japan (X units), India (X units) and France (X units) were the main suppliers of internal combustion engine equipment imports to China, with a combined 83% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by India (with a CAGR of +82.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) constituted the largest supplier of equipment for internal combustion engines to China, comprising 38% of total imports. The second position in the ranking was held by the United States ($X), with an 18% share of total imports. It was followed by France, with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Japan totaled +5.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-6.6% per year) and France (-1.2% per year).

Import Prices by Country

In 2022, the average internal combustion engine equipment import price amounted to $X per unit, which is down by -19.8% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the average import price increased by 10% against the previous year. As a result, import price attained the peak level of $X per unit, and then shrank notably in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per unit), while the price for India ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+40.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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