India: 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 India

The Indian market for diesel engines (other than for motor vehicles and aircraft) shrank markedly to $X in 2022, waning by X% against the previous year. Overall, consumption, however, recorded a significant increase. Over the period under review, the market reached the peak level at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Production of Diesel Engines (Other Than For Motor Vehicles And Aircraft) in India

In value terms, production of diesel engines (other than for motor vehicles and aircraft) fell slightly to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate resilient growth. The most prominent rate of growth was recorded in 2016 when the production volume increased by X% against the previous year. Production of peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

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

Exports from India

In 2022, the amount of diesel engines (other than for motor vehicles and aircraft) exported from India skyrocketed to X units, jumping by X% compared with 2021. Over the period under review, total exports indicated a slight increase from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2018 when exports increased by X% against the previous year. The exports peaked in 2022 and are likely to continue growth in the near future.

In value terms, exports of diesel engines (other than for motor vehicles and aircraft) soared to $X in 2022. In general, exports enjoyed a buoyant expansion. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. Over the period under review, the exports of attained the maximum in 2022 and are expected to retain growth in years to come.

Exports by Country

Thailand (X units) was the main destination for exports of diesel engines (other than for motor vehicles and aircraft) from India, with a X% share of total exports. Moreover, exports of diesel engines (other than for motor vehicles and aircraft) to Thailand exceeded the volume sent to the second major destination, Nigeria (X units), fourfold. The United States (X units) ranked third in terms of total exports with an X% share.

From 2012 to 2022, the average annual growth rate of volume to Thailand totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Nigeria (X% per year) and the United States (X% per year).

In value terms, Thailand ($X), China ($X) and the United States ($X) constituted the largest markets for diesel engines (other than for motor vehicles and aircraft) exported from India worldwide, together accounting for X% of total exports. Vietnam, Italy, the UK, Turkey, Brazil, Lebanon, Nigeria, Egypt and Iraq lagged somewhat behind, together accounting for a further X%.

Vietnam, with a CAGR of X%, 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

The average export price for diesel engines (other than for motor vehicles and aircraft) stood at $X per unit in 2022, jumping by X% against the previous year. Over the period under review, the export price showed a resilient expansion. The growth pace was the most rapid in 2015 when the average export price increased by X% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($X per unit), while the average price for exports to Nigeria ($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 Turkey (X%), 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 India

In 2022, overseas purchases of diesel engines (other than for motor vehicles and aircraft) increased by X% to X units, rising for the second year in a row after two years of decline. Over the period under review, total imports indicated strong growth from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2020 indices. The pace of growth was the most pronounced in 2021 when imports increased by X%. Over the period under review, imports of hit record highs in 2022 and are expected to retain growth in the near future.

In value terms, imports of diesel engines (other than for motor vehicles and aircraft) skyrocketed to $X in 2022. Overall, total imports indicated a mild increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. Over the period under review, imports of reached the peak figure at $X in 2015; however, from 2016 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X units) constituted the largest diesel engines (other than for motor vehicles and aircraft) supplier to India, with a X% share of total imports. Moreover, imports of diesel engines (other than for motor vehicles and aircraft) from China exceeded the figures recorded by the second-largest supplier, Germany (X units), threefold. The UK (X units) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (X% per year) and the UK (X% per year).

In value terms, the United States ($X), China ($X) and Japan ($X) were the largest diesel engines (other than for motor vehicles and aircraft) suppliers to India, with a combined X% share of total imports. Germany, the UK, Sweden and Italy lagged somewhat behind, together comprising a further X%.

Among the main suppliers, Italy, with a CAGR of X%, recorded the highest rates of growth with regard to 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

In 2022, the average import price for diesel engines (other than for motor vehicles and aircraft) amounted to $X per unit, which is down by X% against the previous year. In general, the import price recorded a abrupt setback. The pace of growth was the most pronounced in 2019 when the average import price increased by X%. Over the period under review, average import prices hit record highs at $X per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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 United States ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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