Eastern Asia: Internal Combustion Engines Market 2024

Internal Combustion Engines Market Size in Eastern Asia

The East Asian internal combustion engines market fell slightly to $X in 2021, which is down by -1.8% against the previous year. Overall, consumption saw a noticeable setback. As a result, consumption attained the peak level of $X. From 2014 to 2021, the growth of the market remained at a somewhat lower figure.

Internal Combustion Engines Production in Eastern Asia

In value terms, internal combustion engines production declined slightly to $X in 2021 estimated in export price. In general, production continues to indicate a noticeable descent. The pace of growth appeared the most rapid in 2013 with an increase of 6.6%. Over the period under review, production reached the peak level at $X in 2017; however, from 2018 to 2021, production failed to regain momentum.

Internal Combustion Engines Exports

Exports in Eastern Asia

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. Overall, exports, however, recorded a perceptible reduction. The most prominent rate of growth was recorded in 2018 with an increase of 34% against the previous year. The volume of export peaked at X units in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

In value terms, internal combustion engines exports surged to $X in 2021. Over the period under review, exports, however, showed a deep contraction. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The biggest shipments were from China (X units), South Korea (X units) and Japan (X units), together reaching 99% of total export.

From 2012 to 2021, the biggest increases were recorded for South Korea (with a CAGR of +24.6%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, Japan ($X), China ($X) and South Korea ($X) appeared to be the countries with the highest levels of exports in 2021, together accounting for 100% of total exports.

South Korea, with a CAGR of +14.1%, saw the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2021, the export price in Eastern Asia amounted to $X per unit, declining by -8.3% against the previous year. Overall, the export price showed a noticeable curtailment. The most prominent rate of growth was recorded in 2016 an increase of 18%. The level of export peaked at $X per unit in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Japan ($X per unit), while China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+0.1%), while the other leaders experienced a decline in the export price figures.

Internal Combustion Engines Imports

Imports in Eastern Asia

In 2021, after four years of decline, there was significant growth in overseas purchases of motor vehicles compression-ignition internal combustion piston engines, when their volume increased by 19% to X units. Overall, imports, however, showed a mild reduction. The pace of growth was the most pronounced in 2014 with an increase of 22% against the previous year. The volume of import peaked at X units in 2016; however, from 2017 to 2021, imports stood at a somewhat lower figure.

In value terms, internal combustion engines imports skyrocketed to $X in 2021. Over the period under review, imports, however, showed a noticeable decrease. Over the period under review, imports attained the peak figure at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Japan (X units) was the main importer of motor vehicles compression-ignition internal combustion piston engines, comprising 64% of total imports. South Korea (X units) took the second position in the ranking, distantly followed by Taiwan (Chinese) (X units). All these countries together took near 31% share of total imports. China (X units) held a relatively small share of total imports.

Japan experienced a relatively flat trend pattern with regard to volume of imports of motor vehicles compression-ignition internal combustion piston engines. At the same time, Taiwan (Chinese) (+17.8%) displayed positive paces of growth. Moreover, Taiwan (Chinese) emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +17.8% from 2012-2021. By contrast, China (-1.9%) and South Korea (-2.9%) illustrated a downward trend over the same period. While the share of Taiwan (Chinese) (+4.2 p.p.) and Japan (+2.9 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of South Korea (-5.1 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($X), South Korea ($X) and China ($X) were the countries with the highest levels of imports in 2021, with a combined 94% share of total imports. These countries were followed by Taiwan (Chinese), which accounted for a further 6.1%.

In terms of the main importing countries, Taiwan (Chinese), with a CAGR of +8.1%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

In 2021, the import price in Eastern Asia amounted to $X per unit, growing by 4.5% against the previous year. Overall, the import price, however, showed a pronounced reduction. The most prominent rate of growth was recorded in 2017 an increase of 8.9%. The level of import peaked at $X per unit in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was China ($X per unit), while Japan ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+4.0%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :