New Zealand: Market for Equipment For Internal Combustion Engines 2024

Market Size for Equipment For Internal Combustion Engines in New Zealand

In 2022, the New Zealand internal combustion engine equipment market increased by 32% to $X, rising for the third year in a row after two years of decline. In general, consumption, however, continues to indicate a relatively flat trend pattern. Over the period under review, the market attained the maximum level at $X in 2012; afterwards, it flattened through to 2022.

Exports of Equipment For Internal Combustion Engines

Exports from New Zealand

In 2022, overseas shipments of equipment for internal combustion engines decreased by -31.5% to X units, falling for the third consecutive year after three years of growth. In general, exports continue to indicate a noticeable reduction. The growth pace was the most rapid in 2018 when exports increased by 156%. The exports peaked at X units in 2019; however, from 2020 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, posted a strong expansion. The most prominent rate of growth was recorded in 2019 with an increase of 191%. Over the period under review, the exports attained the peak figure at $X in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

Exports by Country

Nigeria (X units), Australia (X units) and the United Arab Emirates (X units) were the main destinations of internal combustion engine equipment exports from New Zealand, together accounting for 46% of total exports. Malaysia, the United States, the UK, Vietnam, Singapore and Fiji lagged somewhat behind, together comprising a further 37%.

From 2012 to 2022, the biggest increases were recorded for Singapore (with a CAGR of +115.6%), 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 New Zealand were Nigeria ($X), Australia ($X) and the United Arab Emirates ($X), together comprising 42% of total exports. Malaysia, the United States, the UK, Vietnam, Singapore and Fiji lagged somewhat behind, together comprising a further 37%.

Among the main countries of destination, Singapore, with a CAGR of +123.4%, saw 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 internal combustion engine equipment export price stood at $X per unit in 2022, growing by 70% against the previous year. Overall, the export price posted a strong increase. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Vietnam ($X per unit), while the average price for exports to the United Arab Emirates ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the UK (+16.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Equipment For Internal Combustion Engines

Imports into New Zealand

In 2022, supplies from abroad of equipment for internal combustion engines increased by 15% to X units, rising for the third year in a row after two years of decline. In general, imports, however, continue to indicate a perceptible slump. Imports peaked at X units in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, internal combustion engine equipment imports surged to $X in 2022. Overall, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 34% against the previous year. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the near future.

Imports by Country

The United States (X units), Japan (X units) and China (X units) were the main suppliers of internal combustion engine equipment imports to New Zealand, together comprising 72% of total imports. Australia, Taiwan (Chinese), Germany, Italy, France, the UK and Thailand lagged somewhat behind, together accounting for a further 19%.

From 2012 to 2022, the biggest increases were recorded for Taiwan (Chinese) (with a CAGR of +5.3%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, the United States ($X), Japan ($X) and China ($X) appeared to be the largest internal combustion engine equipment suppliers to New Zealand, with a combined 72% share of total imports. Australia, Taiwan (Chinese), Germany, Italy, France, the UK and Thailand lagged somewhat behind, together comprising a further 19%.

Taiwan (Chinese), with a CAGR of +11.1%, 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 internal combustion engine equipment import price stood at $X per unit in 2022, rising by 7.6% against the previous year. In general, import price indicated prominent growth from 2012 to 2022: its price increased at an average annual rate of +5.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, internal combustion engine equipment import price increased by +28.6% against 2020 indices. The most prominent rate of growth was recorded in 2021 when the average import price increased by 20%. Over the period under review, average import prices hit record highs at $X per unit in 2018; however, from 2019 to 2022, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were the UK ($X per unit) and Thailand ($X per unit), while the price for Taiwan (Chinese) ($X per unit) and France ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+5.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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