Japan: Motor Vehicle Engine Market 2024

Motor Vehicle Engine Market Size in Japan

After two years of growth, the Japanese motor vehicle engine market decreased by -1.7% to $X in 2021. Overall, consumption continues to indicate a deep setback. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Motor Vehicle Engine Production in Japan

In value terms, motor vehicle engine production amounted to $X in 2021 estimated in export price. In general, production recorded a noticeable descent. The growth pace was the most rapid in 2016 when the production volume increased by 4.4%. Motor vehicle engine production peaked at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Motor Vehicle Engine Exports

Exports from Japan

In 2021, shipments abroad of motor vehicle engines (spark-ignition) decreased by less than 0.1% to X tons, falling for the third consecutive year after five years of growth. In general, exports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when exports increased by 11%. The exports peaked at X tons in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

In value terms, motor vehicle engine exports reduced to $X in 2021. Over the period under review, exports saw a perceptible downturn. The most prominent rate of growth was recorded in 2016 with an increase of 17% against the previous year. Over the period under review, the exports reached the maximum at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

Malaysia (X tons), Russia (X tons) and China (X tons) were the main destinations of motor vehicle engine exports from Japan, with a combined 48% share of total exports. The United States, the United Arab Emirates, Mexico, Thailand, Hungary, Pakistan and Brazil lagged somewhat behind, together comprising a further 33%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United Arab Emirates (with a CAGR of +68.5%), while the other leaders experienced more modest paces of growth.

In value terms, China ($X), the United States ($X) and Mexico ($X) appeared to be the largest markets for motor vehicle engine exported from Japan worldwide, with a combined 52% share of total exports. These countries were followed by Russia, Hungary, Thailand, Malaysia, Brazil, Pakistan and the United Arab Emirates, which together accounted for a further 31%.

In terms of the main countries of destination, the United Arab Emirates, with a CAGR of +35.1%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average motor vehicle engine export price stood at $X per ton in 2021, with a decrease of -12.8% against the previous year. Over the period under review, the export price recorded a noticeable decrease. The pace of growth appeared the most rapid in 2016 when the average export price increased by 11%. The export price peaked at $X per ton in 2018; however, from 2019 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Mexico ($X per ton), while the average price for exports to the United Arab Emirates ($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 Russia (+5.0%), while the prices for the other major destinations experienced more modest paces of growth.

Motor Vehicle Engine Imports

Imports into Japan

In 2021, supplies from abroad of motor vehicle engines (spark-ignition) was finally on the rise to reach X tons after two years of decline. Overall, imports, however, recorded a abrupt shrinkage. The growth pace was the most rapid in 2015 with an increase of 101% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, motor vehicle engine imports totaled $X in 2021. Over the period under review, imports, however, recorded a deep contraction. The most prominent rate of growth was recorded in 2014 with an increase of 65%. Over the period under review, imports reached the maximum at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

The United States (X tons), Russia (X tons) and Vietnam (X tons) were the main suppliers of motor vehicle engine imports to Japan, together accounting for 74% of total imports.

From 2012 to 2021, the biggest increases were recorded for Russia (with a CAGR of +247.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest motor vehicle engine suppliers to Japan were the United States ($X), Russia ($X) and Vietnam ($X), with a combined 74% share of total imports.

Russia, with a CAGR of +191.3%, recorded the highest rates of growth with regard to 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 motor vehicle engine import price stood at $X per ton in 2021, dropping by -9.3% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.1%. The pace of growth was the most pronounced in 2014 an increase of 52% against the previous year. As a result, import price attained the peak level of $X per ton. From 2015 to 2021, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Russia ($X per ton), while the price for Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the UK (+3.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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