Saudi Arabia: 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 Saudi Arabia

In 2021, the Saudi market for internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) decreased by -6.7% to $X for the first time since 2016, thus ending a four-year rising trend. Overall, consumption, however, saw a resilient increase. Over the period under review, the market reached the maximum level at $X in 2020, and then declined in the following year.

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

Exports from Saudi Arabia

In 2021, exports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) from Saudi Arabia declined markedly to X tons, which is down by -37.5% on the previous year's figure. Over the period under review, exports recorded a abrupt contraction. The pace of growth was the most pronounced in 2020 when exports increased by 4,135% against the previous year. The exports peaked at X tons in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

In value terms, exports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) shrank dramatically to $X in 2021. In general, exports, however, showed a noticeable expansion. The pace of growth was the most pronounced in 2020 when exports increased by 4,370%. As a result, the exports attained the peak of $X, and then fell dramatically in the following year.

Exports by Country

The United Arab Emirates (X tons) was the main destination for exports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) from Saudi Arabia, with a 52% share of total exports. Moreover, exports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) to the United Arab Emirates exceeded the volume sent to the second major destination, France (X tons), fourfold. Germany (X tons) ranked third in terms of total exports with a 7.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United Arab Emirates stood at +17.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (-24.4% per year) and Germany (+18.9% per year).

In value terms, the largest markets for internal combustion engine (excl. diesel, moto vehicle and aircraft) exported from Saudi Arabia were the United Arab Emirates ($X), Germany ($X) and France ($X), together accounting for 82% of total exports. Jordan, Belgium, Djibouti and Somalia lagged somewhat behind, together comprising a further 9.3%.

In terms of the main countries of destination, Djibouti, with a CAGR of +286.6%, 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

In 2021, the average export price for internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) amounted to $X per ton, approximately reflecting the previous year. Over the period under review, the export price enjoyed a resilient increase. The pace of growth appeared the most rapid in 2018 an increase of 237% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2019 to 2021, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Somalia ($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 Jordan (+34.2%), 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 Saudi Arabia

After four years of growth, purchases abroad of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) decreased by -16.1% to X tons in 2021. In general, imports, however, saw a prominent expansion. The most prominent rate of growth was recorded in 2015 when imports increased by 114%. Over the period under review, imports of attained the maximum at X tons in 2020, and then dropped dramatically in the following year.

In value terms, imports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) soared to $X in 2021. Overall, imports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2015 with an increase of 68%. Imports peaked at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Japan (X tons) constituted the largest internal combustion engine (excl. diesel, moto vehicle and aircraft) supplier to Saudi Arabia, with a 61% share of total imports. Moreover, imports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) from Japan exceeded the figures recorded by the second-largest supplier, South Korea (X tons), fivefold. The United States (X tons) ranked third in terms of total imports with a 13% share.

From 2012 to 2021, the average annual growth rate of volume from Japan totaled +13.2%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+32.0% per year) and the United States (+7.7% per year).

In value terms, the largest internal combustion engine (excl. diesel, moto vehicle and aircraft) suppliers to Saudi Arabia were Japan ($X), China ($X) and the United States ($X), with a combined 31% share of total imports.

In terms of the main suppliers, China, with a CAGR of +13.5%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2021, the average import price for internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) amounted to $X per ton, growing by 54% against the previous year. Over the period under review, the import price, however, saw a abrupt shrinkage. Over the period under review, average import prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($X per ton), while the price for South Korea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+9.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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