Southern Asia: Market for Equipment For Internal Combustion Engines 2024

Market Size for Equipment For Internal Combustion Engines in Southern Asia

The South Asian internal combustion engine equipment market dropped modestly to $X in 2022, flattening at the previous year. Over the period under review, consumption showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the market value increased by X% against the previous year. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Production of Equipment For Internal Combustion Engines in Southern Asia

In value terms, internal combustion engine equipment production reduced modestly to $X in 2022 estimated in export price. Overall, production saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2015 to 2022, production growth remained at a somewhat lower figure.

Exports of Equipment For Internal Combustion Engines

Exports in Southern Asia

In 2022, shipments abroad of equipment for internal combustion engines increased by X% to X units, rising for the second year in a row after two years of decline. Overall, exports posted a significant increase. The pace of growth appeared the most rapid in 2017 with an increase of X% against the previous year. The volume of export peaked in 2022 and is expected to retain growth in the immediate term.

In value terms, internal combustion engine equipment exports declined to $X in 2022. Over the period under review, exports saw a strong increase. The most prominent rate of growth was recorded in 2013 with an increase of X%. Over the period under review, the exports reached the peak figure at $X in 2021, and then contracted modestly in the following year.

Exports by Country

In 2022, India (X units) was the major exporter of equipment for internal combustion engines in Southern Asia, constituting X% of total export.

India was also the fastest-growing in terms of the equipment for internal combustion engines exports, with a CAGR of X% from 2012 to 2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, India ($X) also remains the largest internal combustion engine equipment supplier in Southern Asia.

In India, internal combustion engine equipment exports expanded at an average annual rate of X% over the period from 2012-2022.

Export Prices by Country

The export price in Southern Asia stood at $X per unit in 2022, declining by X% against the previous year. Over the period under review, the export price continues to indicate a abrupt downturn. The pace of growth appeared the most rapid in 2014 an increase of X%. As a result, the export price reached the peak level of $X per unit. From 2015 to 2022, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for India.

From 2012 to 2022, the rate of growth in terms of prices for India amounted to X% per year.

Imports of Equipment For Internal Combustion Engines

Imports in Southern Asia

In 2022, purchases abroad of equipment for internal combustion engines increased by X% to X units, rising for the second consecutive year after two years of decline. In general, imports recorded a strong increase. The growth pace was the most rapid in 2015 with an increase of X%. The volume of import peaked at X units in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, internal combustion engine equipment imports rose sharply to $X in 2022. Overall, imports recorded a notable expansion. The pace of growth was the most pronounced in 2015 when imports increased by X%. The level of import peaked at $X in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, India (X units) represented the key importer of equipment for internal combustion engines, committing X% of total imports. Bangladesh (X units) took the second position in the ranking, distantly followed by Sri Lanka (X units). All these countries together took approx. X% share of total imports. Nepal (X units) and Pakistan (X units) followed a long way behind the leaders.

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

In value terms, India ($X) constitutes the largest market for imported equipment for internal combustion engines in Southern Asia, comprising X% of total imports. The second position in the ranking was taken by Bangladesh ($X), with an X% share of total imports. It was followed by Sri Lanka, with a X% share.

In India, internal combustion engine equipment imports increased at an average annual rate of X% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Bangladesh (X% per year) and Sri Lanka (X% per year).

Import Prices by Country

The import price in Southern Asia stood at $X per unit in 2022, which is down by X% against the previous year. Overall, the import price showed a abrupt descent. The pace of growth was the most pronounced in 2015 an increase of X%. As a result, import price reached the peak level of $X per unit. From 2016 to 2022, the import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was India ($X per unit), while Bangladesh ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nepal (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform