Japan: Market for Equipment For Internal Combustion Engines 2024

Market Size for Equipment For Internal Combustion Engines in Japan

For the third year in a row, the Japanese internal combustion engine equipment market recorded growth in sales value, which increased by 0.8% to $X in 2022. Over the period under review, consumption saw a pronounced setback. Over the period under review, the market attained the maximum level at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Production of Equipment For Internal Combustion Engines in Japan

In value terms, internal combustion engine equipment production contracted to $X in 2022 estimated in export price. Overall, production showed a deep setback. The most prominent rate of growth was recorded in 2017 when the production volume increased by 17% against the previous year. Internal combustion engine equipment production peaked at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

Exports of Equipment For Internal Combustion Engines

Exports from Japan

In 2022, approx. X units of equipment for internal combustion engines were exported from Japan; reducing by -14.6% on the year before. In general, exports showed a deep slump. The most prominent rate of growth was recorded in 2016 when exports increased by 51% against the previous year. As a result, the exports attained the peak of X units. From 2017 to 2022, the growth of the exports remained at a lower figure.

In value terms, internal combustion engine equipment exports reduced to $X in 2022. Overall, exports showed a abrupt curtailment. The most prominent rate of growth was recorded in 2016 when exports increased by 12%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Thailand (X units), Germany (X units) and the United States (X units) were the main destinations of internal combustion engine equipment exports from Japan, together comprising 68% of total exports.

From 2012 to 2022, the biggest increases were recorded for Thailand (with a CAGR of +10.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for internal combustion engine equipment exported from Japan were Thailand ($X), Germany ($X) and the United States ($X), with a combined 68% share of total exports.

Thailand, with a CAGR of +10.8%, 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 engine equipment export price stood at $X per unit in 2022, surging by 1.6% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of 22% against the previous year. The export price peaked in 2022 and is likely to see steady growth in the near future.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Argentina ($X per unit) and India ($X per unit), while the average price for exports to the UK ($X per unit) and China ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Argentina (+0.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Equipment For Internal Combustion Engines

Imports into Japan

In 2022, purchases abroad of equipment for internal combustion engines increased by 66% to X units, rising for the second consecutive year after two years of decline. Overall, total imports indicated buoyant growth from 2012 to 2022: its volume increased at an average annual rate of +6.8% 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 +104.9% against 2020 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, internal combustion engine equipment imports reached $X in 2022. The total import value increased at an average annual rate of +2.9% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 when imports increased by 16%. Imports peaked at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

The United States (X units), China (X units) and Germany (X units) were the main suppliers of internal combustion engine equipment imports to Japan, with a combined 81% share of total imports. Thailand, Slovenia, Poland and South Korea lagged somewhat behind, together accounting for a further 14%.

From 2012 to 2022, the biggest increases were recorded for Thailand (with a CAGR of +52.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest internal combustion engine equipment suppliers to Japan were the United States ($X), China ($X) and Thailand ($X), together accounting for 80% of total imports.

Thailand, with a CAGR of +49.9%, saw 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

The average internal combustion engine equipment import price stood at $X per unit in 2022, dropping by -33.7% against the previous year. In general, the import price continues to indicate a perceptible contraction. The growth pace was the most rapid in 2018 an increase of 5.1% against the previous year. As a result, import price reached the peak level of $X per unit. From 2019 to 2022, the average import prices remained at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Thailand ($X per unit) and South Korea ($X per unit), while the price for Germany ($X per unit) and the United States ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+7.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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