Malaysia: Market for Internal Combustion Engines, Excluding Diesel (Other Than For Motor Vehicles And Aircraft) 2024

Market Size for Internal Combustion Engines, Excluding Diesel (Other Than For Motor Vehicles And Aircraft) in Malaysia

After two years of decline, the Malaysian market for internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) increased by 27% to $X in 2021. The market value increased at an average annual rate of +2.5% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Consumption of peaked at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Production of Internal Combustion Engines, Excluding Diesel (Other Than For Motor Vehicles And Aircraft) in Malaysia

In value terms, production of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) soared to $X in 2021 estimated in export price. Overall, the total production indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +5.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -18.9% against 2018 indices. The pace of growth was the most pronounced in 2014 when the production volume increased by 60% against the previous year. Production of peaked at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Exports of Internal Combustion Engines, Excluding Diesel (Other Than For Motor Vehicles And Aircraft)

Exports from Malaysia

In 2021, after three years of growth, there was significant decline in shipments abroad of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft), when their volume decreased by -45.9% to X tons. Overall, exports, however, enjoyed resilient growth. The most prominent rate of growth was recorded in 2014 with an increase of 144%. Over the period under review, the exports of attained the peak figure at X tons in 2020, and then shrank dramatically in the following year.

In value terms, exports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) dropped sharply to $X in 2021. Over the period under review, exports, however, continue to indicate a buoyant increase. The growth pace was the most rapid in 2014 when exports increased by 117% against the previous year. Over the period under review, the exports of hit record highs at $X in 2020, and then fell remarkably in the following year.

Exports by Country

Thailand (X tons), China (X tons) and Nigeria (X tons) were the main destinations of exports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) from Malaysia, together accounting for 64% of total exports. These countries were followed by South Africa, Singapore, Hong Kong SAR, Brunei Darussalam, the United States, Solomon Islands, Chile and Indonesia, which together accounted for a further 31%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Solomon Islands (with a CAGR of +52.1%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for internal combustion engine (excl. diesel, moto vehicle and aircraft) exported from Malaysia were Thailand ($X), China ($X) and Nigeria ($X), with a combined 59% share of total exports. These countries were followed by South Africa, Singapore, Brunei Darussalam, Hong Kong SAR, the United States, Solomon Islands, Chile and Indonesia, which together accounted for a further 36%.

In terms of the main countries of destination, Solomon Islands, with a CAGR of +53.5%, recorded the highest growth rate of 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 export price for internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) stood at $X per ton in 2021, increasing by 28% against the previous year. In general, the export price, however, recorded a slight reduction. The export price peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Solomon Islands ($X per ton), while the average price for exports to Nigeria ($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 Brunei Darussalam (+3.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Internal Combustion Engines, Excluding Diesel (Other Than For Motor Vehicles And Aircraft)

Imports into Malaysia

In 2021, supplies from abroad of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) increased by 18% to X tons, rising for the second consecutive year after two years of decline. In general, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of 24%. Over the period under review, imports of reached the maximum at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, imports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) skyrocketed to $X in 2021. Over the period under review, imports, however, recorded a relatively flat trend pattern. Over the period under review, imports of hit record highs at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

China (X tons), Japan (X tons) and the United States (X tons) were the main suppliers of imports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) to Malaysia, together accounting for 88% of total imports.

From 2012 to 2021, the biggest increases were recorded for China (with a CAGR of +11.1%), while purchases for the other leaders experienced a decline.

In value terms, the largest internal combustion engine (excl. diesel, moto vehicle and aircraft) suppliers to Malaysia were Japan ($X), China ($X) and the United States ($X), with a combined 88% share of total imports.

China, with a CAGR of +11.3%, 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 import price for internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) stood at $X per ton in 2021, rising by 10% against the previous year. In general, the import price showed a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the average import price increased by 19% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2019; however, from 2020 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+3.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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