India: 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 India

The Indian market for internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) contracted rapidly to $X in 2022, shrinking by X% against the previous year. Overall, consumption showed a noticeable reduction. Over the period under review, the market hit record highs at $X in 2015; however, from 2016 to 2022, consumption stood at a somewhat lower figure.

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

In value terms, production of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) shrank slightly to $X in 2022 estimated in export price. Overall, production saw a abrupt shrinkage. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. Over the period under review, production of attained the maximum level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

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

Exports from India

In 2022, exports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) from India skyrocketed to X units, picking up by X% on 2021. In general, exports enjoyed a resilient increase. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. Over the period under review, the exports of hit record highs in 2022 and are expected to retain growth in years to come.

In value terms, exports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) reduced to $X in 2022. Overall, exports, however, showed a deep setback. The growth pace was the most rapid in 2020 with an increase of X% against the previous year. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X units) was the main destination for exports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) from India, with a X% share of total exports. Moreover, exports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) to the United States exceeded the volume sent to the second major destination, Germany (X units), more than tenfold. Canada (X units) ranked third in terms of total exports with a X% share.

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

In value terms, the United States ($X) remains the key foreign market for internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) exports from India, comprising X% of total exports. The second position in the ranking was taken by Thailand ($X), with a X% share of total exports. It was followed by Canada, with a X% share.

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

Export Prices by Country

The average export price for internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) stood at $X per unit in 2022, waning by X% against the previous year. In general, the export price continues to indicate a deep downturn. The growth pace was the most rapid in 2017 when the average export price increased by X% against the previous year. Over the period under review, the average export prices hit record highs at $X per unit in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Hungary ($X per unit), while the average price for exports to Germany ($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 Thailand (X%), while the prices for the other major destinations experienced mixed trend patterns.

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

Imports into India

In 2022, overseas purchases of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) decreased by X% to X units, falling for the second consecutive year after six years of growth. Over the period under review, imports, however, saw resilient growth. The growth pace was the most rapid in 2020 with an increase of X%. As a result, imports reached the peak of X units. From 2021 to 2022, the growth of imports of failed to regain momentum.

In value terms, imports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) fell to $X in 2022. In general, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when imports increased by X% against the previous year. Over the period under review, imports of reached the peak figure at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

China (X units), Thailand (X units) and Japan (X units) were the main suppliers of imports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) to India, with a combined X% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), Thailand ($X) and China ($X) appeared to be the largest internal combustion engine (excl. diesel, moto vehicle and aircraft) suppliers to India, together accounting for X% of total imports.

China, with a CAGR of X%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) stood at $X per unit in 2022, rising by X% against the previous year. In general, the import price, however, recorded a abrupt decline. Over the period under review, average import prices reached the maximum at $X per unit in 2013; however, from 2014 to 2022, import prices stood at a somewhat 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 Japan ($X per unit), while the price for China ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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