Pakistan: Internal Combustion Engines Market 2024

Internal Combustion Engines Market Size in Pakistan

In 2021, the Pakistani internal combustion engines market was finally on the rise to reach $X for the first time since 2017, thus ending a three-year declining trend. In general, consumption, however, recorded a resilient expansion. Internal combustion engines consumption peaked at $X in 2017; however, from 2018 to 2021, consumption remained at a lower figure.

Internal Combustion Engines Exports

Exports from Pakistan

In 2021, exports of motor vehicles compression-ignition internal combustion piston engines from Pakistan shrank to X units, waning by -12.4% compared with 2020 figures. Over the period under review, exports, however, posted a buoyant increase. The growth pace was the most rapid in 2013 with an increase of 274% against the previous year. The exports peaked at X units in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, internal combustion engines exports stood at $X in 2021. In general, exports, however, saw a buoyant increase. The growth pace was the most rapid in 2013 with an increase of 154% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

The UK (X units), Germany (X units) and Australia (X units) were the main destinations of internal combustion engines exports from Pakistan, with a combined 92% share of total exports. Moreover, internal combustion engines exports in the UK exceeded the figures recorded by the second-largest exporter, Germany, twofold.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the UK (with a CAGR of +11.5%), while the other leaders experienced a decline.

In value terms, the UK ($X), Germany ($X) and Australia ($X) constituted the largest markets for internal combustion engines exported from Pakistan worldwide, with a combined 83% share of total exports.

The UK, with a CAGR of +10.8%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average internal combustion engines export price stood at $X per unit in 2021, jumping by 16% against the previous year. Over the period under review, the export price continues to indicate a moderate expansion. The pace of growth appeared the most rapid in 2017 when the average export price increased by 110%. Over the period under review, the average export prices attained the peak figure at $X per unit in 2018; however, from 2019 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Qatar ($X per unit), while the average price for exports to the UK ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Qatar (+120.2%), while the prices for the other major destinations experienced more modest paces of growth.

Internal Combustion Engines Imports

Imports into Pakistan

In 2021, overseas purchases of motor vehicles compression-ignition internal combustion piston engines decreased by -8.9% to X units, falling for the fourth consecutive year after two years of growth. Overall, imports, however, continue to indicate a mild expansion. The growth pace was the most rapid in 2016 with an increase of 80% against the previous year. Over the period under review, imports reached the maximum at X units in 2017; however, from 2018 to 2021, imports remained at a lower figure.

In value terms, internal combustion engines imports surged to $X in 2021. In general, imports, however, enjoyed a prominent increase. The pace of growth was the most pronounced in 2016 with an increase of 78%. Imports peaked at $X in 2017; however, from 2018 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Japan (X units) constituted the largest internal combustion engines supplier to Pakistan, with a 29% share of total imports. Moreover, internal combustion engines imports from Japan exceeded the figures recorded by the second-largest supplier, South Korea (X units), twofold. The third position in this ranking was held by China (X units), with a 12% share.

From 2012 to 2021, the average annual growth rate of volume from Japan was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+15.9% per year) and China (+6.4% per year).

In value terms, Japan ($X) constituted the largest supplier of motor vehicles compression-ignition internal combustion piston engines to Pakistan, comprising 33% of total imports. The second position in the ranking was taken by China ($X), with a 13% share of total imports. It was followed by South Korea, with a 9.8% share.

From 2012 to 2021, the average annual growth rate of value from Japan amounted to +15.6%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+18.4% per year) and South Korea (+26.0% per year).

Import Prices by Country

The average internal combustion engines import price stood at $X per unit in 2021, growing by 40% against the previous year. Overall, the import price saw a resilient expansion. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+15.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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