China: Internal Combustion Engines Market 2024

Internal Combustion Engines Market Size in China

The Chinese internal combustion engines market dropped slightly to $X in 2021, waning by -2.3% against the previous year. Over the period under review, consumption saw a mild decline. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2021, consumption remained at a lower figure.

Internal Combustion Engines Production in China

In value terms, internal combustion engines production declined modestly to $X in 2021 estimated in export price. Overall, production saw a slight decline. The most prominent rate of growth was recorded in 2013 with an increase of 18%. Internal combustion engines production peaked at $X in 2017; however, from 2018 to 2021, production remained at a lower figure.

Internal Combustion Engines Exports

Exports from China

In 2021, overseas shipments 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. In general, total exports indicated a perceptible increase from 2012 to 2021: its volume increased at an average annual rate of +4.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2018 when exports increased by 49% against the previous year. As a result, the exports reached the peak of X units. From 2019 to 2021, the growth of the exports remained at a lower figure.

In value terms, internal combustion engines exports surged to $X in 2021. The total export value increased at an average annual rate of +1.6% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Russia (X units) was the main destination for internal combustion engines exports from China, accounting for a 22% share of total exports. Moreover, internal combustion engines exports to Russia exceeded the volume sent to the second major destination, Cambodia (X units), threefold. The third position in this ranking was taken by the United Arab Emirates (X units), with a 6.3% share.

From 2012 to 2021, the average annual growth rate of volume to Russia stood at -2.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cambodia (+140.3% per year) and the United Arab Emirates (+69.8% per year).

In value terms, Russia ($X) remains the key foreign market for motor vehicles compression-ignition internal combustion piston engines exports from China, comprising 24% of total exports. The second position in the ranking was held by the United States ($X), with a 10% share of total exports. It was followed by Italy, with a 9.8% share.

From 2012 to 2021, the average annual growth rate of value to Russia amounted to -2.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-4.9% per year) and Italy (+61.1% per year).

Export Prices by Country

In 2021, the average internal combustion engines export price amounted to $X per unit, growing by 2.6% against the previous year. Overall, the export price, however, continues to indicate a perceptible setback. The pace of growth was the most pronounced in 2015 an increase of 16%. Over the period under review, the average export prices attained the peak figure at $X per unit in 2016; however, from 2017 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Italy ($X per unit), while the average price for exports to Cambodia ($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 the UK (+3.6%), while the prices for the other major destinations experienced more modest paces of growth.

Internal Combustion Engines Imports

Imports into China

For the third consecutive year, China recorded decline in overseas purchases of motor vehicles compression-ignition internal combustion piston engines, which decreased by -31.4% to X units in 2021. Over the period under review, imports recorded a mild decrease. The pace of growth was the most pronounced in 2016 with an increase of 120%. Over the period under review, imports attained the maximum at X units in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, internal combustion engines imports fell to $X in 2021. Overall, imports saw a abrupt decline. The pace of growth was the most pronounced in 2017 with an increase of 29%. Imports peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Sweden (X units), Italy (X units) and the UK (X units) were the main suppliers of internal combustion engines imports to China, with a combined 51% 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 Sweden (with a CAGR of +45.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest internal combustion engines suppliers to China were the UK ($X), Germany ($X) and Sweden ($X), with a combined 48% share of total imports. Italy, Mexico, South Korea and Japan lagged somewhat behind, together comprising a further 18%.

Mexico, with a CAGR of +35.0%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average internal combustion engines import price stood at $X per unit in 2021, growing by 28% against the previous year. In general, the import price, however, continues to indicate a pronounced contraction. The pace of growth appeared the most rapid in 2017 an increase of 65%. Over the period under review, average import prices attained the peak figure at $X per unit in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per unit), while the price for Japan ($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 (+2.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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