India: Motor Vehicle Engine Market 2025

Motor Vehicle Engine Market Size in India

After five years of growth, the Indian motor vehicle engine market decreased by -6.4% to $X in 2021. Over the period under review, consumption, however, posted buoyant growth. Motor vehicle engine consumption peaked at $X in 2020, and then dropped in the following year.

Motor Vehicle Engine Production in India

In value terms, motor vehicle engine production reduced to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a resilient expansion. The pace of growth was the most pronounced in 2013 when the production volume increased by 44% against the previous year. Motor vehicle engine production peaked at $X in 2020, and then shrank in the following year.

Motor Vehicle Engine Exports

Exports from India

In 2021, motor vehicle engine exports from India rose sharply to X tons, surging by 9.4% on the year before. In general, exports showed a significant increase. The growth pace was the most rapid in 2013 when exports increased by 434%. The exports peaked at X tons in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

In value terms, motor vehicle engine exports skyrocketed to $X in 2021. Over the period under review, exports continue to indicate a significant expansion. The pace of growth was the most pronounced in 2013 when exports increased by 484%. Over the period under review, the exports attained the peak figure in 2021 and are likely to see steady growth in years to come.

Exports by Country

Turkey (X tons) was the main destination for motor vehicle engine exports from India, accounting for a 56% share of total exports. Moreover, motor vehicle engine exports to Turkey exceeded the volume sent to the second major destination, Egypt (X tons), fivefold. The third position in this ranking was taken by Vietnam (X tons), with an 11% share.

From 2012 to 2021, the average annual growth rate of volume to Turkey amounted to +29.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Egypt (+247.3% per year) and Vietnam (+24.5% per year).

In value terms, the largest markets for motor vehicle engine exported from India were Turkey ($X), Bangladesh ($X) and Egypt ($X), together comprising 84% of total exports. These countries were followed by Vietnam, South Korea, Germany, Ecuador, Brazil and Thailand, which together accounted for a further 15%.

Ecuador, with a CAGR of +379.0%, recorded the highest growth rate of the value of exports, among 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

In 2021, the average motor vehicle engine export price amounted to $X per ton, rising by 29% against the previous year. Overall, export price indicated strong growth from 2012 to 2021: its price increased at an average annual rate of +6.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, motor vehicle engine export price increased by +80.3% against 2016 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of destination: the country with the highest price was Bangladesh ($X per ton), while the average price for exports to Ecuador ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Bangladesh (+20.8%), while the prices for the other major destinations experienced more modest paces of growth.

Motor Vehicle Engine Imports

Imports into India

In 2021, motor vehicle engine imports into India skyrocketed to X tons, picking up by 31% on 2020 figures. Over the period under review, imports showed a strong expansion. The most prominent rate of growth was recorded in 2014 when imports increased by 46% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2017; however, from 2018 to 2021, imports failed to regain momentum.

In value terms, motor vehicle engine imports skyrocketed to $X in 2021. Overall, imports posted a resilient increase. The growth pace was the most rapid in 2014 with an increase of 55%. Over the period under review, imports reached the peak figure at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest motor vehicle engine supplier to India, accounting for a 33% share of total imports. Moreover, motor vehicle engine imports from China exceeded the figures recorded by the second-largest supplier, South Korea (X tons), twofold. South Africa (X tons) ranked third in terms of total imports with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +25.1%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (-1.9% per year) and South Africa (+23.4% per year).

In value terms, China ($X) constituted the largest supplier of motor vehicle engines (spark-ignition) to India, comprising 34% of total imports. The second position in the ranking was taken by South Korea ($X), with a 14% share of total imports. It was followed by South Africa, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China stood at +29.2%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+1.1% per year) and South Africa (+27.2% per year).

Import Prices by Country

In 2021, the average motor vehicle engine import price amounted to $X per ton, growing by 1.9% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.1%. The most prominent rate of growth was recorded in 2018 when the average import price increased by 17%. Over the period under review, average import prices hit record highs in 2021 and is likely to see gradual growth in the near future.

Average prices varied noticeably amongst the major supplying countries. In 2021, the highest price was recorded for prices from South Africa ($X per ton) and the United States ($X per ton), while the price for Japan ($X per ton) and Romania ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Slovakia (+4.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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