Eastern Asia: Motor Vehicle Engine Market 2025

Motor Vehicle Engine Market Size in Eastern Asia

The East Asian motor vehicle engine market dropped modestly to $X in 2021, waning by -4.1% against the previous year. The market value increased at an average annual rate of +2.9% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market attained the peak level at $X in 2020, and then contracted modestly in the following year.

Motor Vehicle Engine Production in Eastern Asia

In value terms, motor vehicle engine production reached $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.4% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2017 when the production volume increased by 16%. The level of production peaked at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Motor Vehicle Engine Exports

Exports in Eastern Asia

After two years of decline, shipments abroad of motor vehicle engines (spark-ignition) increased by 13% to X tons in 2021. The total export volume increased at an average annual rate of +2.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The volume of export peaked at X tons in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, motor vehicle engine exports rose remarkably to $X in 2021. The total export value increased at an average annual rate of +1.6% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2018 when exports increased by 17%. As a result, the exports reached the peak of $X. From 2019 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

In 2021, Japan (X tons) was the key exporter of motor vehicle engines (spark-ignition), making up 57% of total exports. South Korea (X tons) ranks second in terms of the total exports with a 23% share, followed by China (17%). Taiwan (Chinese) (X tons) held a relatively small share of total exports.

Japan experienced a relatively flat trend pattern with regard to volume of exports of motor vehicle engines (spark-ignition). At the same time, Taiwan (Chinese) (+13.4%), China (+10.2%) and South Korea (+4.1%) displayed positive paces of growth. Moreover, Taiwan (Chinese) emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of +13.4% from 2012-2021. China (+8.4 p.p.), South Korea (+3.8 p.p.) and Taiwan (Chinese) (+1.9 p.p.) significantly strengthened its position in terms of the total exports, while Japan saw its share reduced by -14.1% from 2012 to 2021, respectively.

In value terms, Japan ($X), South Korea ($X) and China ($X) constituted the countries with the highest levels of exports in 2021, together comprising 99% of total exports. Taiwan (Chinese) lagged somewhat behind, accounting for a further 0.7%.

Taiwan (Chinese), with a CAGR of +10.3%, recorded the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2021, leveling off at the previous year. In general, the export price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the export price increased by 8.6% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2019 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was China ($X per ton), while Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+0.9%), while the other leaders experienced a decline in the export price figures.

Motor Vehicle Engine Imports

Imports in Eastern Asia

For the third consecutive year, Eastern Asia recorded decline in purchases abroad of motor vehicle engines (spark-ignition), which decreased by -25.8% to X tons in 2021. In general, imports recorded a deep slump. The most prominent rate of growth was recorded in 2018 with an increase of 17%. The volume of import peaked at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, motor vehicle engine imports dropped remarkably to $X in 2021. Overall, imports recorded a deep setback. The most prominent rate of growth was recorded in 2018 when imports increased by 27%. As a result, imports attained the peak of $X. From 2019 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, China (X tons) represented the largest importer of motor vehicle engines (spark-ignition), generating 60% of total imports. Taiwan (Chinese) (X tons) took the second position in the ranking, distantly followed by Japan (X tons) and South Korea (X tons). All these countries together held approx. 40% share of total imports.

From 2012 to 2021, average annual rates of growth with regard to motor vehicle engine imports into China stood at -9.9%. Taiwan (Chinese) experienced a relatively flat trend pattern. Japan (-6.4%) and South Korea (-16.6%) illustrated a downward trend over the same period. Taiwan (Chinese) (+13 p.p.) and Japan (+2.1 p.p.) significantly strengthened its position in terms of the total imports, while China and South Korea saw its share reduced by -7.1% and -7.6% from 2012 to 2021, respectively.

In value terms, China ($X) constitutes the largest market for imported motor vehicle engines (spark-ignition) in Eastern Asia, comprising 66% of total imports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 17% share of total imports. It was followed by Japan, with a 10% share.

From 2012 to 2021, the average annual growth rate of value in China amounted to -6.3%. The remaining importing countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (-1.4% per year) and Japan (-5.4% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2021, growing by 5.5% against the previous year. Over the last nine-year period, it increased at an average annual rate of +2.7%. The growth pace was the most rapid in 2014 when the import price increased by 11%. Over the period under review, import prices hit record highs in 2021 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was South Korea ($X per ton), while Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+4.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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