Malaysia: 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 Malaysia

In 2023, the Malaysian market for internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) decreased by X% to $X for the first time since 2020, thus ending a two-year rising trend. Overall, consumption, however, continues to indicate significant growth. As a result, consumption attained the peak level of $X, and then reduced sharply in the following year.

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

In value terms, production of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) reduced markedly to $X in 2023 estimated in export price. Over the period under review, production, however, enjoyed significant growth. The pace of growth appeared the most rapid in 2022 when the production volume increased by X% against the previous year. Over the period under review, production of attained the peak level at $X in 2020; however, from 2021 to 2023, production failed to regain momentum.

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

Exports from Malaysia

In 2023, shipments abroad of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) increased by X% to X units for the first time since 2020, thus ending a two-year declining trend. Over the period under review, exports recorded a strong expansion. The pace of growth appeared the most rapid in 2019 when exports increased by X%. The exports peaked at X units in 2020; however, from 2021 to 2023, the exports stood at a somewhat lower figure.

In value terms, exports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) rose markedly to $X in 2023. Overall, exports enjoyed a strong increase. The most prominent rate of growth was recorded in 2014 when exports increased by X%. Over the period under review, the exports of reached the maximum at $X in 2020; however, from 2021 to 2023, the exports failed to regain momentum.

Exports by Country

China (X units), Nigeria (X units) and Thailand (X units) were the main destinations of exports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) from Malaysia, with a combined X% share of total exports. Singapore, Iran, South Africa, Cambodia, Russia, Austria, Indonesia and Iraq lagged somewhat behind, together comprising a further X%.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Cambodia (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for internal combustion engine (excl. diesel, moto vehicle and aircraft) exported from Malaysia were Thailand ($X), China ($X) and Singapore ($X), together comprising X% of total exports. Indonesia, Nigeria, South Africa, Iran, Russia, Austria, Iraq and Cambodia lagged somewhat behind, together comprising a further X%.

Nigeria, with a CAGR of X%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

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 2023, surging by X% against the previous year. In general, the export price, however, showed a slight decrease. The most prominent rate of growth was recorded in 2021 an increase of X%. The export price peaked at $X per unit in 2012; however, from 2013 to 2023, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2023, amid the top suppliers, the country with the highest price was Indonesia ($X per unit), while the average price for exports to Cambodia ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Iran (X%), while the prices for the other major destinations experienced more modest paces of growth.

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

Imports into Malaysia

In 2023, the amount of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) imported into Malaysia stood at X units, surging by X% on the previous year. Over the period under review, imports showed a prominent expansion. The most prominent rate of growth was recorded in 2016 with an increase of X%. As a result, imports reached the peak of X units. From 2017 to 2023, the growth of imports of remained at a lower figure.

In value terms, imports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) contracted sharply to $X in 2023. Overall, imports showed a tangible increase. The pace of growth was the most pronounced in 2022 with an increase of X%. As a result, imports attained the peak of $X, and then reduced notably in the following year.

Imports by Country

In 2023, China (X units) constituted the largest internal combustion engine (excl. diesel, moto vehicle and aircraft) supplier to Malaysia, with a X% share of total imports. Moreover, imports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) from China exceeded the figures recorded by the second-largest supplier, Japan (X units), sixfold. Singapore (X units) ranked third in terms of total imports with a X% share.

From 2012 to 2023, the average annual growth rate of volume from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (X% per year) and Singapore (X% per year).

In value terms, the largest internal combustion engine (excl. diesel, moto vehicle and aircraft) suppliers to Malaysia were Japan ($X), China ($X) and Singapore ($X), with a combined X% share of total imports.

In terms of the main suppliers, China, with a CAGR of X%, recorded the highest rates of growth with regard to 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

In 2023, the average import price for internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) amounted to $X per unit, falling by X% against the previous year. Overall, the import price continues to indicate a abrupt setback. The most prominent rate of growth was recorded in 2017 when the average import price increased by X%. Over the period under review, average import prices hit record highs at $X per unit in 2012; however, from 2013 to 2023, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Japan ($X per unit), while the price for Singapore ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Thailand (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform