U.S.: Internal Combustion Engines Market 2024

Internal Combustion Engines Market Size in the U.S.

The U.S. internal combustion engines market rose notably to $X in 2021, picking up by 6.3% against the previous year. The market value increased at an average annual rate of +3.0% over the period from 2012 to 2021; however, the trend pattern remained consistent, with only minor fluctuations being observed in certain years. As a result, consumption attained the peak level of $X. From 2014 to 2021, the growth of the market remained at a somewhat lower figure.

Internal Combustion Engines Production in the U.S.

In value terms, internal combustion engines production dropped to $X in 2021. Overall, production showed a mild setback. The pace of growth was the most pronounced in 2013 when the production volume increased by 37% against the previous year. As a result, production reached the peak level of $X. From 2014 to 2021, production growth remained at a somewhat lower figure.

Internal Combustion Engines Exports

Exports from the U.S.

In 2021, the amount of motor vehicles compression-ignition internal combustion piston engines exported from the United States surged to X units, picking up by 24% on the previous year. Overall, total exports indicated a measured expansion from 2012 to 2021: its volume increased at an average annual rate of +4.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -1.4% against 2019 indices. The most prominent rate of growth was recorded in 2014 when exports increased by 54% against the previous year. As a result, the exports reached the peak of X units. From 2015 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, internal combustion engines exports skyrocketed to $X in 2021. Over the period under review, exports showed buoyant growth. The most prominent rate of growth was recorded in 2014 when exports increased by 52%. Over the period under review, the exports hit record highs at $X in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Mexico (X units) was the main destination for internal combustion engines exports from the United States, accounting for a 82% share of total exports. Moreover, internal combustion engines exports to Mexico exceeded the volume sent to the second major destination, Canada (X units), more than tenfold. Australia (X units) ranked third in terms of total exports with a 1.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Mexico amounted to +6.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (-2.2% per year) and Australia (-2.0% per year).

In value terms, Mexico ($X) remains the key foreign market for motor vehicles compression-ignition internal combustion piston engines exports from the United States, comprising 85% of total exports. The second position in the ranking was taken by Canada ($X), with a 6.5% share of total exports. It was followed by Australia, with a 1.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Mexico totaled +10.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (+2.0% per year) and Australia (-2.3% per year).

Export Prices by Country

The average internal combustion engines export price stood at $X per unit in 2021, increasing by 2.7% against the previous year. Over the last nine years, it increased at an average annual rate of +3.4%. The pace of growth was the most pronounced in 2017 when the average export price increased by 14%. The export price peaked at $X per unit in 2019; however, from 2020 to 2021, the export prices failed to regain momentum.

Average prices varied noticeably for the major external markets. In 2021, amid the top suppliers, the highest price was recorded for prices to Mexico ($X per unit) and the UK ($X per unit), while the average price for exports to Canada ($X per unit) and Australia ($X per unit) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the UK (+5.4%), while the prices for the other major destinations experienced more modest paces of growth.

Internal Combustion Engines Imports

Imports into the U.S.

In 2021, the amount of motor vehicles compression-ignition internal combustion piston engines imported into the United States soared to X units, growing by 51% against the year before. Overall, imports posted a buoyant expansion. The most prominent rate of growth was recorded in 2018 with an increase of 63%. Imports peaked in 2021 and are likely to see steady growth in years to come.

In value terms, internal combustion engines imports surged to $X in 2021. The total import value increased at an average annual rate of +1.9% over the period from 2012 to 2021; however, the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. Imports peaked at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Mexico (X units) constituted the largest internal combustion engines supplier to the United States, with a 77% share of total imports. Moreover, internal combustion engines imports from Mexico exceeded the figures recorded by the second-largest supplier, Japan (X units), more than tenfold. The third position in this ranking was held by Italy (X units), with a 5.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Mexico amounted to +26.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+4.1% per year) and Italy (+11.7% per year).

In value terms, Mexico ($X) constituted the largest supplier of motor vehicles compression-ignition internal combustion piston engines to the United States, comprising 40% of total imports. The second position in the ranking was taken by Italy ($X), with a 17% share of total imports. It was followed by Germany, with a 15% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Mexico amounted to +2.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+9.5% per year) and Germany (-5.0% per year).

Import Prices by Country

In 2021, the average internal combustion engines import price amounted to $X per unit, dropping by -19.9% against the previous year. Over the period under review, the import price saw a abrupt curtailment. The most prominent rate of growth was recorded in 2013 when the average import price decreased by -5.4% against the previous year. The import price peaked at $X per unit in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per unit), while the price for Mexico ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Austria (+2.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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