U.S.: Motor Vehicle Engine Market 2024

Motor Vehicle Engine Market Size in the U.S.

The U.S. motor vehicle engine market rose to $X in 2021, growing by 4.6% against the previous year. In general, consumption showed resilient growth. Over the period under review, the market attained the maximum level at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Motor Vehicle Engine Production in the U.S.

In value terms, motor vehicle engine production stood at $X in 2021. In general, production posted strong growth. The growth pace was the most rapid in 2017 with an increase of 43% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Motor Vehicle Engine Exports

Exports from the U.S.

In 2021, exports of motor vehicle engines (spark-ignition) from the United States declined to X tons, falling by -9.4% on the previous year's figure. In general, exports recorded a slight reduction. The pace of growth appeared the most rapid in 2019 with an increase of 25%. As a result, the exports attained the peak of X tons. From 2020 to 2021, the growth of the exports failed to regain momentum.

In value terms, motor vehicle engine exports reduced to $X in 2021. Over the period under review, exports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when exports increased by 25% against the previous year. The exports peaked at $X in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Canada (X tons), Mexico (X tons) and China (X tons) were the main destinations of motor vehicle engine exports from the United States, with a combined 90% share of total exports. Spain and Japan lagged somewhat behind, together comprising a further 2.7%.

From 2012 to 2021, the biggest increases were recorded for Spain (with a CAGR of +103.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Canada ($X), Mexico ($X) and China ($X) appeared to be the largest markets for motor vehicle engine exported from the United States worldwide, together comprising 91% of total exports. Spain and Japan lagged somewhat behind, together accounting for a further 2.8%.

Spain, with a CAGR of +104.8%, recorded the highest growth rate of the value of exports, in terms of 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

In 2021, the average motor vehicle engine export price amounted to $X per ton, increasing by 2.8% against the previous year. Overall, the export price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 an increase of 9.4%. The export price peaked at $X per ton in 2018; however, from 2019 to 2021, the export prices remained at a lower figure.

Average prices varied noticeably for the major foreign markets. In 2021, the highest price was recorded for prices to Japan ($X per ton) and China ($X per ton), while the average price for exports to Spain ($X per ton) and Canada ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Canada (+0.7%), while the prices for the other major destinations experienced more modest paces of growth.

Motor Vehicle Engine Imports

Imports into the U.S.

In 2021, approx. X tons of motor vehicle engines (spark-ignition) were imported into the United States; remaining relatively unchanged against the year before. In general, imports, however, continue to indicate a perceptible curtailment. The pace of growth was the most pronounced in 2014 with an increase of 4.5%. Over the period under review, imports reached the maximum at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, motor vehicle engine imports expanded remarkably to $X in 2021. Overall, imports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when imports increased by 11%. As a result, imports reached the peak of $X. From 2015 to 2021, the growth of imports failed to regain momentum.

Imports by Country

Mexico (X tons), Canada (X tons) and Germany (X tons) were the main suppliers of motor vehicle engine imports to the United States, together accounting for 72% of total imports. These countries were followed by Austria, South Korea, Japan, Italy and Spain, which together accounted for a further 23%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Italy (with a CAGR of +57.6%), while imports for the other leaders experienced mixed trend patterns.

In value terms, Mexico ($X), Canada ($X) and Germany ($X) were the largest motor vehicle engine suppliers to the United States, together comprising 72% of total imports. These countries were followed by Austria, South Korea, Japan, Italy and Spain, which together accounted for a further 23%.

Among the main suppliers, Italy, with a CAGR of +66.0%, 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 motor vehicle engine import price stood at $X per ton in 2021, picking up by 4.9% against the previous year. Over the last nine-year period, it increased at an average annual rate of +3.3%. The pace of growth was the most pronounced in 2018 an increase of 16%. The import price peaked in 2021 and is expected to retain growth in the near future.

Average prices varied noticeably amongst the major supplying countries. In 2021, the countries with the highest prices were Japan ($X per ton) and Spain ($X per ton), while the price for South Korea ($X per ton) and Germany ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+5.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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