India: Motor Vehicle Engine Market 2024

Motor Vehicle Engine Market Size in India

The Indian motor vehicle engine market rose to $X in 2022, picking up by X% against the previous year. In general, consumption recorded buoyant growth. Motor vehicle engine consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Motor Vehicle Engine Production in India

In value terms, motor vehicle engine production expanded to $X in 2022 estimated in export price. Over the period under review, production saw buoyant growth. The pace of growth appeared the most rapid in 2013 with an increase of X%. Over the period under review, production attained the maximum level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

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Motor Vehicle Engine Exports

Exports from India

Motor vehicle engine exports from India rose rapidly to X units in 2022, picking up by X% compared with 2021 figures. Over the period under review, exports showed a significant increase. The pace of growth appeared the most rapid in 2013 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to see gradual growth in the immediate term.

In value terms, motor vehicle engine exports surged to $X in 2022. In general, exports saw a significant increase. The growth pace was the most rapid in 2013 when exports increased by X%. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in years to come.

Exports by Country

Bangladesh (X units) was the main destination for motor vehicle engine exports from India, with a X% share of total exports. Moreover, motor vehicle engine exports to Bangladesh exceeded the volume sent to the second major destination, Turkey (X units), fivefold. Egypt (X units) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Bangladesh totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (X% per year) and Egypt (X% per year).

In value terms, Turkey ($X), Bangladesh ($X) and Vietnam ($X) were the largest markets for motor vehicle engine exported from India worldwide, together comprising X% of total exports. Egypt, Indonesia, Thailand and the Philippines lagged somewhat behind, together accounting for a further X%.

Among the main countries of destination, Egypt, with a CAGR of X%, recorded the highest rates of growth with regard to 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 2022, the average motor vehicle engine export price amounted to $X per unit, increasing by X% against the previous year. Overall, the export price, however, continues to indicate a deep setback. The growth pace was the most rapid in 2017 an increase of X% against the previous year. The export price peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Vietnam ($X per unit), while the average price for exports to the Philippines ($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 Indonesia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Motor Vehicle Engine Imports

Imports into India

Motor vehicle engine imports into India declined to X units in 2022, dropping by X% against 2021. Overall, imports, however, recorded a remarkable increase. The pace of growth appeared the most rapid in 2014 when imports increased by X%. Imports peaked at X units in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, motor vehicle engine imports reduced to $X in 2022. Over the period under review, imports, however, enjoyed a buoyant increase. The pace of growth appeared the most rapid in 2014 when imports increased by X%. Imports peaked at $X in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Imports by Country

China (X units), South Korea (X units) and Indonesia (X units) were the main suppliers of motor vehicle engine imports to India, together comprising X% of total imports.

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

In value terms, China ($X) constituted the largest supplier of motor vehicle engines (spark-ignition) to India, comprising X% of total imports. The second position in the ranking was taken by South Korea ($X), with a X% share of total imports. It was followed by the United States, with a X% share.

From 2012 to 2022, the average annual growth rate of value from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (X% per year) and the United States (X% per year).

Import Prices by Country

The average motor vehicle engine import price stood at $X per unit in 2022, picking up by X% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2013 when the average import price increased by X% against the previous year. The import price peaked at $X per unit in 2014; however, from 2015 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 Japan ($X per unit), while the price for Indonesia ($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 more modest paces of growth.

Source: IndexBox Platform

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