U.S.: Market for Diesel Engines (Other Than For Motor Vehicles And Aircraft) 2024

Market Size for Diesel Engines (Other Than For Motor Vehicles And Aircraft) in the U.S.

In 2022, the U.S. market for diesel engines (other than for motor vehicles and aircraft) increased by 20% to $X, rising for the second year in a row after two years of decline. The market value increased at an average annual rate of +2.5% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market hit record highs in 2022 and is likely to see gradual growth in years to come.

Production of Diesel Engines (Other Than For Motor Vehicles And Aircraft) in the U.S.

In value terms, production of diesel engines (other than for motor vehicles and aircraft) soared to $X in 2022. Overall, production, however, recorded a deep slump. Production of peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Exports of Diesel Engines (Other Than For Motor Vehicles And Aircraft)

Exports from the U.S.

In 2022, shipments abroad of diesel engines (other than for motor vehicles and aircraft) increased by 13% to X units, rising for the second year in a row after two years of decline. In general, exports, however, continue to indicate a pronounced decline. The most prominent rate of growth was recorded in 2017 when exports increased by 32% against the previous year. The exports peaked at X units in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, exports of diesel engines (other than for motor vehicles and aircraft) rose sharply to $X in 2022. Over the period under review, exports, however, showed a pronounced decrease. The pace of growth appeared the most rapid in 2017 with an increase of 11% against the previous year. Over the period under review, the exports of attained the peak figure at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Canada (X units), China (X units) and Brazil (X units) were the main destinations of exports of diesel engines (other than for motor vehicles and aircraft) from the United States, together comprising 55% of total exports. Mexico, Germany, the UK, Japan, Australia, the United Arab Emirates, Belgium and South Korea lagged somewhat behind, together accounting for a further 28%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United Arab Emirates (with a CAGR of +11.3%), while the other leaders experienced more modest paces of growth.

In value terms, Canada ($X), China ($X) and Brazil ($X) appeared to be the largest markets for diesel engines (other than for motor vehicles and aircraft) exported from the United States worldwide, together accounting for 43% of total exports. Germany, Australia, Mexico, the UK, Japan, Belgium, the United Arab Emirates and South Korea lagged somewhat behind, together accounting for a further 28%.

Mexico, with a CAGR of +3.9%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average export price for diesel engines (other than for motor vehicles and aircraft) stood at $X per unit in 2022, waning by -3.3% against the previous year. In general, the export price continues to indicate a noticeable reduction. The growth pace was the most rapid in 2020 when the average export price increased by 12% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per unit in 2015; however, from 2016 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 Australia ($X per unit), while the average price for exports to Mexico ($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 South Korea (+10.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Diesel Engines (Other Than For Motor Vehicles And Aircraft)

Imports into the U.S.

In 2022, purchases abroad of diesel engines (other than for motor vehicles and aircraft) increased by 16% to X units, rising for the second consecutive year after two years of decline. Over the period under review, imports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 when imports increased by 44%. Over the period under review, imports of hit record highs at X units in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, imports of diesel engines (other than for motor vehicles and aircraft) skyrocketed to $X in 2022. In general, imports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 27% against the previous year. Over the period under review, imports of reached the peak figure at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Japan (X units) constituted the largest supplier of diesel engines (other than for motor vehicles and aircraft) to the United States, with a 58% share of total imports. Moreover, imports of diesel engines (other than for motor vehicles and aircraft) from Japan exceeded the figures recorded by the second-largest supplier, Italy (X units), sevenfold. The third position in this ranking was held by South Korea (X units), with an 8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Japan was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+1.9% per year) and South Korea (+41.9% per year).

In value terms, Japan ($X) constituted the largest supplier of diesel engines (other than for motor vehicles and aircraft) to the United States, comprising 36% of total imports. The second position in the ranking was held by the UK ($X), with a 14% share of total imports. It was followed by Mexico, with a 12% share.

From 2012 to 2022, the average annual growth rate of value from Japan was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (-2.8% per year) and Mexico (-3.8% per year).

Import Prices by Country

The average import price for diesel engines (other than for motor vehicles and aircraft) stood at $X per unit in 2022, approximately reflecting the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of 8.1%. As a result, import price reached the peak level of $X per unit. From 2021 to 2022, the average import prices remained at a lower figure.

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 the UK ($X per unit), while the price for India ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+5.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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