Jordan: Market for Equipment For Internal Combustion Engines 2024

Market Size for Equipment For Internal Combustion Engines in Jordan

The Jordanian internal combustion engine equipment market declined to $X in 2022, waning by -2.5% against the previous year. The market value increased at an average annual rate of +3.8% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market reached the peak level at $X in 2016; however, from 2017 to 2022, consumption remained at a lower figure.

Production of Equipment For Internal Combustion Engines in Jordan

In value terms, internal combustion engine equipment production reduced to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +4.3% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2013 when the production volume increased by 42% against the previous year. Over the period under review, production reached the maximum level at $X in 2016; however, from 2017 to 2022, production remained at a lower figure.

Exports of Equipment For Internal Combustion Engines

Exports from Jordan

In 2022, shipments abroad of equipment for internal combustion engines increased by 27% to X units for the first time since 2019, thus ending a two-year declining trend. Overall, exports, however, showed a abrupt slump. The most prominent rate of growth was recorded in 2015 when exports increased by 4,366%. Over the period under review, the exports reached the peak figure at X units in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, internal combustion engine equipment exports skyrocketed to $X in 2022. Over the period under review, exports, however, showed a abrupt descent. The growth pace was the most rapid in 2015 when exports increased by 2,790% against the previous year. Over the period under review, the exports reached the maximum at $X in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

Exports by Country

Free Zones (X units) was the main destination for internal combustion engine equipment exports from Jordan, accounting for a approx. 100% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Free Zones stood at -9.1%.

In value terms, Free Zones ($X) emerged as the key foreign market for equipment for internal combustion engines exports from Jordan.

From 2012 to 2022, the average annual growth rate of value to Free Zones amounted to +5.9%.

Export Prices by Country

The average internal combustion engine equipment export price stood at $X per unit in 2022, increasing by 100% against the previous year. Over the period under review, the export price saw a remarkable increase. The pace of growth was the most pronounced in 2014 an increase of 244%. As a result, the export price reached the peak level of $X per unit. From 2015 to 2022, the average export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for Free Zones.

From 2012 to 2022, the rate of growth in terms of prices for Free Zones amounted to +16.5% per year.

Imports of Equipment For Internal Combustion Engines

Imports into Jordan

In 2022, the amount of equipment for internal combustion engines imported into Jordan skyrocketed to X units, increasing by 97% against 2021. Overall, imports continue to indicate notable growth. The pace of growth was the most pronounced in 2015 with an increase of 382%. Imports peaked in 2022 and are likely to continue growth in the near future.

In value terms, internal combustion engine equipment imports skyrocketed to $X in 2022. In general, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 when imports increased by 469% against the previous year. As a result, imports attained the peak of $X. From 2016 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, China (X units) constituted the largest internal combustion engine equipment supplier to Jordan, with a 48% share of total imports. Moreover, internal combustion engine equipment imports from China exceeded the figures recorded by the second-largest supplier, Turkey (X units), twofold. The third position in this ranking was taken by the UK (X units), with a 23% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +13.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+12.1% per year) and the UK (+48.5% per year).

In value terms, China ($X) constituted the largest supplier of equipment for internal combustion engines to Jordan, comprising 50% of total imports. The second position in the ranking was taken by Turkey ($X), with a 23% share of total imports. It was followed by the UK, with a 16% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled +7.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+7.8% per year) and the UK (+35.1% per year).

Import Prices by Country

The average internal combustion engine equipment import price stood at $X per unit in 2022, jumping by 22% against the previous year. In general, the import price, however, continues to indicate a perceptible shrinkage. The growth pace was the most rapid in 2020 when the average import price increased by 32% against the previous year. Over the period under review, average import prices hit record highs at $X per unit in 2015; however, from 2016 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+9.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform