Hong Kong SAR, China: Internal Combustion Engines Market 2025

Internal Combustion Engines Market Size in Hong Kong SAR, China

In 2021, the Hong Kong internal combustion engines market decreased by -19.4% to $X for the first time since 2018, thus ending a two-year rising trend. Over the period under review, consumption recorded a noticeable setback. As a result, consumption attained the peak level of $X, and then dropped rapidly in the following year.

Internal Combustion Engines Production in Hong Kong SAR, China

In value terms, internal combustion engines production dropped sharply to $X in 2021 estimated in export price. Overall, production, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when the production volume increased by 77% against the previous year. As a result, production attained the peak level of $X, and then shrank remarkably in the following year.

Internal Combustion Engines Exports

Exports from Hong Kong SAR, 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 2016, thus ending a four-year declining trend. In general, exports, however, saw a abrupt curtailment. The exports peaked at X units in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, internal combustion engines exports soared to $X in 2021. Over the period under review, exports saw a relatively flat trend pattern. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Thailand (X units), Malaysia (X units) and the Philippines (X units) were the main destinations of internal combustion engines exports from Hong Kong SAR, with a combined 89% share of total exports. Indonesia, Guatemala, Papua New Guinea, China and Pakistan lagged somewhat behind, together comprising a further 7.7%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Guatemala (with a CAGR of +35.6%), while the other leaders experienced mixed trend patterns.

In value terms, Thailand ($X), Malaysia ($X) and China ($X) appeared to be the largest markets for internal combustion engines exported from Hong Kong SAR worldwide, with a combined 86% share of total exports. The Philippines, Indonesia, Guatemala, Papua New Guinea and Pakistan lagged somewhat behind, together comprising a further 8.5%.

Guatemala, with a CAGR of +29.4%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average internal combustion engines export price stood at $X per unit in 2021, waning by -47.8% against the previous year. Over the period under review, the export price, however, showed a resilient increase. The pace of growth was the most pronounced in 2020 an increase of 137%. As a result, the export price attained the peak level of $X per unit, and then shrank significantly in the following year.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was China ($X per unit), while the average price for exports to Papua New Guinea ($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 Thailand (+26.2%), while the prices for the other major destinations experienced more modest paces of growth.

Internal Combustion Engines Imports

Imports into Hong Kong SAR, China

After eight years of decline, overseas purchases of motor vehicles compression-ignition internal combustion piston engines increased by 52% to X units in 2021. Overall, imports, however, saw a precipitous shrinkage. Over the period under review, imports reached the peak figure at X units in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, internal combustion engines imports skyrocketed to $X in 2021. Over the period under review, imports, however, recorded a abrupt descent. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Japan (X units) constituted the largest internal combustion engines supplier to Hong Kong SAR, with a 47% share of total imports. Moreover, internal combustion engines imports from Japan exceeded the figures recorded by the second-largest supplier, the UK (X units), twofold. Malaysia (X units) ranked third in terms of total imports with a 19% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Japan stood at -28.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (+23.4% per year) and Malaysia (+7.6% per year).

In value terms, the largest internal combustion engines suppliers to Hong Kong SAR were the UK ($X), Singapore ($X) and Japan ($X), with a combined 74% share of total imports.

The UK, with a CAGR of +19.6%, 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

In 2021, the average internal combustion engines import price amounted to $X per unit, which is down by -8.4% against the previous year. Over the period under review, the import price, however, showed a resilient increase. The growth pace was the most rapid in 2018 when the average import price increased by 48% against the previous year. The import price peaked at $X per unit in 2020, and then declined in the following year.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+16.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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