Russian Federation: Market for Equipment For Internal Combustion Engines 2024

Market Size for Equipment For Internal Combustion Engines in the Russian Federation

The Russian internal combustion engine equipment market contracted slightly to $X in 2022, declining by -3.8% against the previous year. Over the period under review, consumption continues to indicate a deep downturn. Internal combustion engine equipment consumption peaked at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Production of Equipment For Internal Combustion Engines in the Russian Federation

In value terms, internal combustion engine equipment production reduced modestly to $X in 2022 estimated in export price. Overall, production continues to indicate a abrupt contraction. The pace of growth appeared the most rapid in 2021 with an increase of 9.5%. Internal combustion engine equipment production peaked at $X in 2013; however, from 2014 to 2022, production remained at a lower figure.

Exports of Equipment For Internal Combustion Engines

Exports from the Russian Federation

In 2022, after two years of growth, there was significant decline in overseas shipments of equipment for internal combustion engines, when their volume decreased by -14.6% to X units. Over the period under review, exports, however, recorded a resilient expansion. The growth pace was the most rapid in 2021 when exports increased by 111% against the previous year. As a result, the exports reached the peak of X units, and then fell in the following year.

In value terms, internal combustion engine equipment exports declined sharply to $X in 2022. In general, exports, however, showed tangible growth. The most prominent rate of growth was recorded in 2015 with an increase of 77%. As a result, the exports attained the peak of $X. From 2016 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Belarus (X units) was the main destination for internal combustion engine equipment exports from Russia, accounting for a 69% share of total exports. Moreover, internal combustion engine equipment exports to Belarus exceeded the volume sent to the second major destination, Ukraine (X units), threefold. Egypt (X units) ranked third in terms of total exports with a 3.4% share.

From 2012 to 2022, the average annual growth rate of volume to Belarus amounted to +17.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ukraine (+14.6% per year) and Egypt (+35.7% per year).

In value terms, Belarus ($X) remains the key foreign market for equipment for internal combustion engines exports from Russia, comprising 69% of total exports. The second position in the ranking was taken by Ukraine ($X), with a 14% share of total exports. It was followed by Kazakhstan, with a 5.8% share.

From 2012 to 2022, the average annual growth rate of value to Belarus stood at +14.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ukraine (-5.1% per year) and Kazakhstan (-11.7% per year).

Export Prices by Country

In 2022, the average internal combustion engine equipment export price amounted to $X per unit, which is down by -1.8% against the previous year. Over the period under review, the export price continues to indicate a drastic downturn. The most prominent rate of growth was recorded in 2019 when the average export price increased by 57%. Over the period under review, the average export prices hit record highs at $X per unit in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Kazakhstan ($X per unit), while the average price for exports to Ukraine ($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 Belarus (-2.2%), while the prices for the other major destinations experienced a decline.

Imports of Equipment For Internal Combustion Engines

Imports into the Russian Federation

In 2022, the amount of equipment for internal combustion engines imported into Russia shrank remarkably to X units, declining by -15.5% compared with 2021. Over the period under review, imports recorded a perceptible setback. The growth pace was the most rapid in 2017 when imports increased by 361%. As a result, imports attained the peak of X units. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, internal combustion engine equipment imports reduced to $X in 2022. In general, imports saw a deep contraction. The pace of growth was the most pronounced in 2017 when imports increased by 326%. As a result, imports attained the peak of $X. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

China (X units), Belarus (X units) and Japan (X units) were the main suppliers of internal combustion engine equipment imports to Russia, with a combined 58% share of total imports. France, South Korea, Turkey, India, Germany, Slovenia, Thailand, Italy and Romania lagged somewhat behind, together accounting for a further 38%.

From 2012 to 2022, the biggest increases were recorded for Thailand (with a CAGR of +50.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), France ($X) and Romania ($X) constituted the largest internal combustion engine equipment suppliers to Russia, with a combined 39% share of total imports. Germany, China, South Korea, Belarus, India, Slovenia, Thailand, Turkey and Italy lagged somewhat behind, together accounting for a further 39%.

Among the main suppliers, Thailand, with a CAGR of +37.0%, saw the highest growth rate of the value of imports, 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, picking up by 9% against the previous year. Over the period under review, the import price, however, showed a pronounced shrinkage. The most prominent rate of growth was recorded in 2016 when the average import price increased by 27% against the previous year. Over the period under review, average import prices reached the peak figure at $X per unit in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Romania ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+9.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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