Eastern Asia: Market for Diesel Engines (Other Than For Motor Vehicles And Aircraft) 2024

Market Size for Diesel Engines (Other Than For Motor Vehicles And Aircraft) in Eastern Asia

The East Asian market for diesel engines (other than for motor vehicles and aircraft) declined to $X in 2022, waning by -4.4% against the previous year. Overall, consumption, however, posted buoyant growth. Over the period under review, the market hit record highs at $X in 2021, and then dropped modestly in the following year.

Production of Diesel Engines (Other Than For Motor Vehicles And Aircraft) in Eastern Asia

In value terms, production of diesel engines (other than for motor vehicles and aircraft) fell to $X in 2022 estimated in export price. In general, production showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 with an increase of 50% against the previous year. As a result, production attained the peak level of $X. From 2020 to 2022, production of growth failed to regain momentum.

Exports of Diesel Engines (Other Than For Motor Vehicles And Aircraft)

Exports in Eastern Asia

In 2022, approx. X units of diesel engines (other than for motor vehicles and aircraft) were exported in Eastern Asia; waning by -13.9% compared with 2021 figures. Over the period under review, exports showed a drastic downturn. The most prominent rate of growth was recorded in 2019 with an increase of 283% against the previous year. Over the period under review, the exports of hit record highs at X units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, exports of diesel engines (other than for motor vehicles and aircraft) reduced modestly to $X in 2022. In general, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 23%. Over the period under review, the exports of hit record highs at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Japan represented the key exporter of diesel engines (other than for motor vehicles and aircraft) in Eastern Asia, with the volume of exports resulting at X units, which was near 53% of total exports in 2022. China (X units) took the second position in the ranking, distantly followed by South Korea (X units). All these countries together held near 46% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by South Korea (with a CAGR of -7.4%), while the other leaders experienced a decline in the exports figures.

In value terms, Japan ($X) remains the largest diesel engines (other than for motor vehicles and aircraft) supplier in Eastern Asia, comprising 56% of total exports. The second position in the ranking was taken by China ($X), with a 27% share of total exports.

In Japan, exports of diesel engines (other than for motor vehicles and aircraft) plunged by an average annual rate of -1.0% over the period from 2012-2022. In the other countries, the average annual rates were as follows: China (+6.7% per year) and South Korea (-5.1% per year).

Export Prices by Country

The export price in Eastern Asia stood at $X per unit in 2022, growing by 13% against the previous year. In general, the export price recorded a buoyant expansion. The pace of growth was the most pronounced in 2016 when the export price increased by 294%. The level of export peaked in 2022 and is expected to retain growth in the immediate term.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was South Korea ($X per unit), while China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+38.5%), while the other leaders experienced more modest paces of growth.

Imports of Diesel Engines (Other Than For Motor Vehicles And Aircraft)

Imports in Eastern Asia

In 2022, after two years of growth, there was decline in supplies from abroad of diesel engines (other than for motor vehicles and aircraft), when their volume decreased by -2.5% to X units. Total imports indicated a tangible expansion from 2012 to 2022: its volume increased at an average annual rate of +4.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +28.4% against 2019 indices. The pace of growth was the most pronounced in 2017 with an increase of 38%. The volume of import peaked at X units in 2021, and then fell in the following year.

In value terms, imports of diesel engines (other than for motor vehicles and aircraft) shrank to $X in 2022. In general, imports showed a slight curtailment. The most prominent rate of growth was recorded in 2017 with an increase of 24%. Over the period under review, imports of reached the peak figure at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

China was the main importer of diesel engines (other than for motor vehicles and aircraft) in Eastern Asia, with the volume of imports amounting to X units, which was near 71% of total imports in 2022. Japan (X units) took a 14% share (based on physical terms) of total imports, which put it in second place, followed by South Korea (12%). Taiwan (Chinese) (X units) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to diesel engines (other than for motor vehicles and aircraft) imports into China stood at +4.2%. At the same time, Japan (+8.3%) and South Korea (+2.0%) displayed positive paces of growth. Moreover, Japan emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +8.3% from 2012-2022. By contrast, Taiwan (Chinese) (-3.9%) illustrated a downward trend over the same period. Japan (+4.7 p.p.) significantly strengthened its position in terms of the total imports, while Taiwan (Chinese) and South Korea saw its share reduced by -2.3% and -2.6% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported diesel engines (other than for motor vehicles and aircraft) in Eastern Asia, comprising 72% of total imports. The second position in the ranking was taken by South Korea ($X), with a 14% share of total imports. It was followed by Japan, with an 11% share.

In China, imports of diesel engines (other than for motor vehicles and aircraft) plunged by an average annual rate of -1.7% over the period from 2012-2022. In the other countries, the average annual rates were as follows: South Korea (-1.2% per year) and Japan (+3.1% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per unit in 2022, which is down by -4.6% against the previous year. In general, the import price continues to indicate a deep slump. The pace of growth appeared the most rapid in 2019 an increase of 11%. The level of import peaked at $X per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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 South Korea ($X per unit), while Japan ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+1.1%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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