U.S.: Motor Vehicle Engine Market 2024

Motor Vehicle Engine Market Size in the U.S.

In 2022, the U.S. motor vehicle engine market decreased by X% to $X, falling for the second year in a row after four years of growth. The market value increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Motor Vehicle Engine Production in the U.S.

In value terms, motor vehicle engine production totaled $X in 2022. The total output value increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, production reached the peak level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Motor Vehicle Engine Exports

Exports from the U.S.

In 2022, after four years of decline, there was significant growth in shipments abroad of motor vehicle engines (spark-ignition), when their volume increased by X% to X units. In general, exports, however, saw a relatively flat trend pattern. Over the period under review, the exports reached the maximum at X units in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, motor vehicle engine exports totaled $X in 2022. Overall, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. The exports peaked at $X in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Canada (X units), Mexico (X units) and Japan (X units) were the main destinations of motor vehicle engine exports from the United States, together comprising X% of total exports.

From 2012 to 2022, the biggest increases were recorded for Mexico (with a CAGR of X%), while shipments for the other leaders experienced a decline.

In value terms, Canada ($X), Mexico ($X) and Japan ($X) constituted the largest markets for motor vehicle engine exported from the United States worldwide, together accounting for X% of total exports.

In terms of the main countries of destination, Mexico, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

The average motor vehicle engine export price stood at $X per unit in 2022, with a decrease of X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2015 an increase of X%. Over the period under review, the average export prices reached the maximum at $X per unit in 2021, and then declined remarkably in the following year.

Average prices varied somewhat for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Japan ($X per unit), while the average price for exports to Canada ($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 Mexico (X%), while the prices for the other major destinations experienced mixed trend patterns.

Motor Vehicle Engine Imports

Imports into the U.S.

In 2022, imports of motor vehicle engines (spark-ignition) into the United States expanded markedly to X units, with an increase of X% on the previous year. Overall, imports, however, recorded a mild contraction. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. As a result, imports reached the peak of X units. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, motor vehicle engine imports rose remarkably to $X in 2022. In general, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. As a result, imports attained the peak of $X. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, Mexico (X units) constituted the largest motor vehicle engine supplier to the United States, with a X% share of total imports. Moreover, motor vehicle engine imports from Mexico exceeded the figures recorded by the second-largest supplier, Canada (X units), twofold. Japan (X units) ranked third in terms of total imports with a X% share.

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

In value terms, Mexico ($X), Canada ($X) and Germany ($X) appeared to be the largest motor vehicle engine suppliers to the United States, together accounting for X% of total imports.

Among the main suppliers, Mexico, with a CAGR of X%, saw the highest growth rate of 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

The average motor vehicle engine import price stood at $X per unit in 2022, standing approx. at the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2020 an increase of X%. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in the near future.

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 Germany ($X per unit), while the price for China ($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 more modest paces of growth.

Source: IndexBox Platform

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