U.S.: 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 the U.S.

The U.S. market for internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) surged to $X in 2021, growing by 23% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, the total consumption indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +5.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs in 2021 and is likely to continue growth in the immediate term.

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

Exports from the U.S.

In 2021, shipments abroad of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) decreased by -8.9% to X tons, falling for the third year in a row after two years of growth. Overall, exports saw a noticeable setback. The most prominent rate of growth was recorded in 2017 when exports increased by 28% against the previous year. The exports peaked at X tons in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, exports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) rose sharply to $X in 2021. Over the period under review, exports recorded a mild decline. The growth pace was the most rapid in 2017 when exports increased by 19%. Over the period under review, the exports of reached the peak figure at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

Canada (X tons), China (X tons) and Belgium (X tons) were the main destinations of exports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) from the United States, with a combined 42% share of total exports. Mexico, the Netherlands, Austria, Brazil, Italy, Australia, Poland, Thailand, South Korea and Japan lagged somewhat behind, together comprising a further 40%.

From 2012 to 2021, the biggest increases were recorded for Thailand (with a CAGR of +31.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for internal combustion engine (excl. diesel, moto vehicle and aircraft) exported from the United States were Belgium ($X), Canada ($X) and Mexico ($X), with a combined 51% share of total exports. These countries were followed by China, Australia, Brazil, the Netherlands, Italy, Austria, Thailand, South Korea, Poland and Japan, which together accounted for a further 30%.

Among the main countries of destination, Thailand, with a CAGR of +22.7%, 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, increasing by 18% against the previous year. Over the last nine years, it increased at an average annual rate of +2.1%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

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 Belgium ($X per ton), while the average price for exports to Austria ($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 Mexico (+13.7%), 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 the U.S.

Imports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) into the United States rose slightly to X tons in 2021, picking up by 3.3% compared with 2020. The total import volume increased at an average annual rate of +2.1% from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2014 with an increase of 25% against the previous year. Imports peaked at X tons in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, imports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) surged to $X in 2021. The total import value increased at an average annual rate of +2.6% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, imports of hit record highs at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

China (X tons), Japan (X tons) and Thailand (X tons) were the main suppliers of imports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) to the United States, together comprising 93% of total imports. Canada, Vietnam and India lagged somewhat behind, together comprising a further 5%.

From 2012 to 2021, the biggest increases were recorded for Vietnam (with a CAGR of +159.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) constituted the largest supplier of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) to the United States, comprising 68% of total imports. The second position in the ranking was taken by China ($X), with an 18% share of total imports. It was followed by Thailand, with a 6.1% share.

From 2012 to 2021, the average annual growth rate of value from Japan stood at +5.1%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-0.4% per year) and Thailand (-1.8% per year).

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, rising by 15% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The import price peaked at $X per ton in 2018; however, from 2019 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Japan ($X per ton), while the price for Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Canada (+6.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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