Pakistan: Market for Equipment For Internal Combustion Engines 2024

Market Size for Equipment For Internal Combustion Engines in Pakistan

The Pakistani internal combustion engine equipment market shrank sharply to $X in 2022, dropping by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption recorded a noticeable setback. As a result, consumption reached the peak level of $X, and then fell markedly in the following year.

Exports of Equipment For Internal Combustion Engines

Exports from Pakistan

In 2022, overseas shipments of equipment for internal combustion engines decreased by X% to X units for the first time since 2019, thus ending a two-year declining trend. In general, exports showed a precipitous contraction. The most prominent rate of growth was recorded in 2019 with an increase of X%. The exports peaked at X units in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, internal combustion engine equipment exports skyrocketed to $X in 2022. Overall, exports, however, showed a strong increase. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. The exports peaked in 2022 and are expected to retain growth in years to come.

Exports by Country

The United Arab Emirates (X units) was the main destination for internal combustion engine equipment exports from Pakistan, with a X% share of total exports. Moreover, internal combustion engine equipment exports to the United Arab Emirates exceeded the volume sent to the second major destination, Nepal (X units), more than tenfold.

From 2013 to 2022, the average annual growth rate of volume to the United Arab Emirates stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Nepal (X% per year) and Oman (X% per year).

In value terms, the United Arab Emirates ($X) remains the key foreign market for equipment for internal combustion engines exports from Pakistan, comprising X% of total exports. The second position in the ranking was held by Nepal ($X), with a X% share of total exports.

From 2013 to 2022, the average annual growth rate of value to the United Arab Emirates totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Nepal (X% per year) and Oman (X% per year).

Export Prices by Country

The average internal combustion engine equipment export price stood at $X per unit in 2022, with an increase of X% against the previous year. Overall, the export price continues to indicate significant growth. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

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 Nepal ($X per unit), while the average price for exports to Oman ($X per unit) was amongst the lowest.

From 2013 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Sri Lanka (X%), while the prices for the other major destinations experienced more modest paces of growth.

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Imports of Equipment For Internal Combustion Engines

Imports into Pakistan

In 2022, after two years of growth, there was significant decline in purchases abroad of equipment for internal combustion engines, when their volume decreased by X% to X units. In general, imports, however, showed prominent growth. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. As a result, imports reached the peak of X units, and then contracted markedly in the following year.

In value terms, internal combustion engine equipment imports fell significantly to $X in 2022. Over the period under review, imports recorded a deep slump. The pace of growth appeared the most rapid in 2015 with an increase of X%. Over the period under review, imports hit record highs at $X in 2017; however, from 2018 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X units) constituted the largest internal combustion engine equipment supplier to Pakistan, with a X% share of total imports. Moreover, internal combustion engine equipment imports from China exceeded the figures recorded by the second-largest supplier, Japan (X units), more than tenfold.

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

In value terms, China ($X) constituted the largest supplier of equipment for internal combustion engines to Pakistan, comprising X% of total imports. The second position in the ranking was taken by the United States ($X), with a X% share of total imports.

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: the United States (X% per year) and Japan (X% per year).

Import Prices by Country

The average internal combustion engine equipment import price stood at $X per unit in 2022, with an increase of X% against the previous year. Over the period under review, the import price, however, recorded a abrupt decrease. 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.

Prices varied noticeably by country of origin: 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 Brazil (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform