China: Market for Internal Combustion Engines, Excluding Diesel (Other Than For Motor Vehicles And Aircraft) 2024

Market Size for Internal Combustion Engines, Excluding Diesel (Other Than For Motor Vehicles And Aircraft) in China

In 2021, the Chinese market for internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) decreased by -52.6% to $X for the first time since 2013, thus ending a seven-year rising trend. Overall, consumption continues to indicate a relatively flat trend pattern. As a result, consumption attained the peak level of $X, and then declined sharply in the following year.

Production of Internal Combustion Engines, Excluding Diesel (Other Than For Motor Vehicles And Aircraft) in China

In value terms, production of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) fell significantly to $X in 2021 estimated in export price. In general, the total production indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +6.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +73.4% against 2013 indices. The pace of growth was the most pronounced in 2020 with an increase of 43%. As a result, production attained the peak level of $X, and then dropped sharply in the following year.

Exports of Internal Combustion Engines, Excluding Diesel (Other Than For Motor Vehicles And Aircraft)

Exports from China

In 2021, approx. X tons of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) were exported from China; growing by 82% against the year before. Over the period under review, exports posted a strong expansion. The pace of growth was the most pronounced in 2020 when exports increased by 93%. Over the period under review, the exports of hit record highs in 2021 and are likely to continue growth in the immediate term.

In value terms, exports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) surged to $X in 2021. In general, total exports indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +6.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +63.1% against 2019 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States (X tons), Vietnam (X tons) and Belgium (X tons) were the main destinations of exports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) from China, with a combined 45% share of total exports. These countries were followed by Nigeria, Russia, Indonesia, Japan, Italy, Brazil, Mexico, Slovakia, the Philippines and France, which together accounted for a further 29%.

From 2012 to 2021, the biggest increases were recorded for Slovakia (with a CAGR of +96.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Vietnam ($X) and Belgium ($X) were the largest markets for internal combustion engine (excl. diesel, moto vehicle and aircraft) exported from China worldwide, with a combined 48% share of total exports. Russia, Nigeria, Indonesia, Japan, Italy, Brazil, Slovakia, Mexico, France and the Philippines lagged somewhat behind, together comprising a further 27%.

In terms of the main countries of destination, Slovakia, with a CAGR of +78.3%, 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 2021, the average export price for internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) amounted to $X per ton, with a decrease of -26.3% against the previous year. Over the period under review, the export price showed a abrupt contraction. The growth pace was the most rapid in 2015 an increase of 5.6% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Belgium ($X per ton), while the average price for exports to Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to France (-8.3%), while the prices for the other major destinations experienced a decline.

Imports of Internal Combustion Engines, Excluding Diesel (Other Than For Motor Vehicles And Aircraft)

Imports into China

In 2021, supplies from abroad of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) decreased by -14.2% to X tons, falling for the second year in a row after three years of growth. In general, imports continue to indicate a noticeable setback. The most prominent rate of growth was recorded in 2017 with an increase of 7.8%. Over the period under review, imports of hit record highs at X tons in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, imports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) dropped to $X in 2021. The total import value increased at an average annual rate of +2.2% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2020 when imports increased by 21%. As a result, imports reached the peak of $X, and then contracted in the following year.

Imports by Country

Japan (X tons), the United States (X tons) and Thailand (X tons) were the main suppliers of imports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) to China, with a combined 93% share of total imports. These countries were followed by Canada and South Korea, which together accounted for a further 5.9%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Canada (with a CAGR of +20.1%), while imports for the other leaders experienced mixed trend patterns.

In value terms, the largest internal combustion engine (excl. diesel, moto vehicle and aircraft) suppliers to China were Japan ($X), the United States ($X) and Thailand ($X), with a combined 91% share of total imports. Canada and South Korea lagged somewhat behind, together comprising a further 7%.

In terms of the main suppliers, Canada, with a CAGR of +32.6%, saw 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 import price for internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) amounted to $X per ton, remaining constant against the previous year. Overall, import price indicated perceptible growth from 2012 to 2021: its price increased at an average annual rate of +4.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, import price for internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) increased by +54.0% against 2016 indices. The growth pace was the most rapid in 2020 an increase of 37%. Over the period under review, average import prices reached the peak figure in 2021 and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Canada ($X per ton), while the price for Thailand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Canada (+10.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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