South-Eastern Asia: Market for Equipment For Internal Combustion Engines 2025

Market Size for Equipment For Internal Combustion Engines in South-Eastern Asia

After two years of decline, the Southeast Asian internal combustion engine equipment market increased by 0.5% to $X in 2022. In general, consumption saw a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2015 to 2022, the growth of the market failed to regain momentum.

Production of Equipment For Internal Combustion Engines in South-Eastern Asia

In value terms, internal combustion engine equipment production shrank modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.8% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2016 when the production volume increased by 17%. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Exports of Equipment For Internal Combustion Engines

Exports in South-Eastern Asia

In 2022, exports of equipment for internal combustion engines in South-Eastern Asia contracted rapidly to X units, which is down by -21.6% on 2021. Over the period under review, exports, however, showed a strong increase. The pace of growth was the most pronounced in 2021 when exports increased by 301%. As a result, the exports attained the peak of X units, and then reduced notably in the following year.

In value terms, internal combustion engine equipment exports declined notably to $X in 2022. Overall, exports, however, continue to indicate prominent growth. The pace of growth was the most pronounced in 2021 with an increase of 112%. As a result, the exports attained the peak of $X, and then declined notably in the following year.

Exports by Country

Thailand dominates exports structure, finishing at X units, which was near 92% of total exports in 2022. Singapore (X units) followed a long way behind the leaders.

Thailand was also the fastest-growing in terms of the equipment for internal combustion engines exports, with a CAGR of +17.3% from 2012 to 2022. Singapore experienced a relatively flat trend pattern. From 2012 to 2022, the share of Thailand increased by +16 percentage points.

In value terms, Thailand ($X) remains the largest internal combustion engine equipment supplier in South-Eastern Asia, comprising 56% of total exports. The second position in the ranking was taken by Singapore ($X), with an 11% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Thailand amounted to +6.8%.

Export Prices by Country

The export price in South-Eastern Asia stood at $X per unit in 2022, waning by -29.4% against the previous year. Overall, the export price saw a deep setback. The most prominent rate of growth was recorded in 2019 when the export price increased by 76%. Over the period under review, the export prices reached the maximum at $X per unit in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Singapore ($X per unit), while Thailand totaled $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (-0.5%).

Imports of Equipment For Internal Combustion Engines

Imports in South-Eastern Asia

In 2022, overseas purchases of equipment for internal combustion engines increased by 0.7% to X units, rising for the second year in a row after two years of decline. Over the period under review, imports, however, continue to indicate a slight slump. The pace of growth was the most pronounced in 2014 when imports increased by 72%. As a result, imports reached the peak of X units. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, internal combustion engine equipment imports expanded to $X in 2022. Overall, imports, however, continue to indicate a mild shrinkage. The growth pace was the most rapid in 2014 when imports increased by 39%. As a result, imports attained the peak of $X. From 2015 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Thailand was the largest importer of equipment for internal combustion engines in South-Eastern Asia, with the volume of imports recording X units, which was approx. 53% of total imports in 2022. Vietnam (X units) ranks second in terms of the total imports with an 18% share, followed by Indonesia (15%) and Malaysia (7.6%). Singapore (X units) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to internal combustion engine equipment imports into Thailand stood at +9.7%. At the same time, Vietnam (+10.0%) and Indonesia (+1.7%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing importer imported in South-Eastern Asia, with a CAGR of +10.0% from 2012-2022. Singapore experienced a relatively flat trend pattern. By contrast, Malaysia (-20.2%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Thailand, Vietnam and Indonesia increased by +36, +12 and +4.5 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Thailand ($X) constitutes the largest market for imported equipment for internal combustion engines in South-Eastern Asia, comprising 49% of total imports. The second position in the ranking was taken by Vietnam ($X), with a 20% share of total imports. It was followed by Indonesia, with a 15% share.

From 2012 to 2022, the average annual growth rate of value in Thailand totaled +8.0%. In the other countries, the average annual rates were as follows: Vietnam (+7.9% per year) and Indonesia (-2.7% per year).

Import Prices by Country

The import price in South-Eastern Asia stood at $X per unit in 2022, rising by 1.9% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the import price increased by 39% against the previous year. As a result, import price reached the peak level of $X per unit. From 2017 to 2022, the import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Singapore ($X per unit), while Thailand ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+8.4%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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