Motor Vehicle Chassis Fitted With Engines Market

Driven by increasing demand worldwide, the market for motor vehicle chassis fitted with engines is expected to grow over the next eight years. Consumption is forecasted to expand with a CAGR of +2.0%, reaching 4.6M units by 2030. Japan leads in consumption and production, while the Philippines shows significant growth. Import and export trends vary by country, with Germany and the Philippines showing strong growth in import value. Export prices have seen fluctuations, with Sweden having the highest price per unit.

Market Forecast

Driven by increasing demand for motor vehicle chassis fitted with engines worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +2.0% for the period from 2022 to 2030, which is projected to bring the market volume to 4.6M units by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +4.0% for the period from 2022 to 2030, which is projected to bring the market value to $83.5B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Motor Vehicle Chassis Fitted with Engines

Global consumption of motor vehicle chassis fitted with engines was estimated at 3.9M units in 2022, surging by 14% compared with the year before. In general, the total consumption indicated a buoyant increase from 2012 to 2022: its volume increased at an average annual rate of +6.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +65.1% against 2017 indices. Global consumption peaked in 2022 and is expected to retain growth in years to come.

The size of the market for motor vehicle chassis fitted with engines worldwide expanded markedly to $60.8B in 2022, rising by 5.4% 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). The market value increased at an average annual rate of +1.1% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $62.9B. From 2021 to 2022, the growth of the global market remained at a somewhat lower figure.

Consumption By Country

Japan (1.5M units) constituted the country with the largest volume of consumption of motor vehicle chassis fitted with engines, comprising approx. 38% of total volume. Moreover, consumption of motor vehicle chassis fitted with engines in Japan exceeded the figures recorded by the second-largest consumer, India (689K units), twofold. The third position in this ranking was held by the Philippines (370K units), with a 9.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume in Japan stood at +13.9%. The remaining consuming countries recorded the following average annual rates of consumption growth: India (+30.7% per year) and the Philippines (+30.9% per year).

In value terms, China ($12B), Japan ($11.1B) and India ($8B) constituted the countries with the highest levels of market value in 2022, with a combined 51% share of the global market. The United States, the Philippines and Italy lagged somewhat behind, together comprising a further 12%.

Among the main consuming countries, the Philippines, with a CAGR of +64.9%, recorded the highest rates of growth with regard to market size over the period under review, while engines for the other global leaders experienced more modest paces of growth.

In 2022, the highest levels of per capita consumption of motor vehicle chassis fitted with engines was registered in Japan (12 units per 1000 persons), followed by the Philippines (3.3 units per 1000 persons), Italy (1.6 units per 1000 persons) and the United States (0.6 units per 1000 persons), while the world average per capita consumption of motor vehicle chassis fitted with engines was estimated at less than 0.1 units per 1000 persons.

From 2012 to 2022, the average annual rate of growth in terms of the per capita consumption of motor vehicle chassis fitted with engines in Japan stood at +14.1%. In the other countries, the average annual rates were as follows: the Philippines (+29.0% per year) and Italy (+8.2% per year).

Production

World Production of Motor Vehicle Chassis Fitted with Engines

In 2022, the amount of motor vehicle chassis fitted with engines produced worldwide was estimated at 3.6M units, surging by 4.2% against the previous year. In general, the total production indicated prominent growth from 2012 to 2022: its volume increased at an average annual rate of +5.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -6.4% against 2020 indices. The most prominent rate of growth was recorded in 2019 with an increase of 25%. Global production peaked at 3.8M units in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

In value terms, production of motor vehicle chassis fitted with engines totaled $53.7B in 2022 estimated in export price. Over the period under review, production, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 with an increase of 16% against the previous year. Global production peaked at $57.4B in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Production By Country

Japan (1.5M units) remains the largest motor vehicle chassis fitted with engines producing country worldwide, comprising approx. 43% of total volume. Moreover, production of motor vehicle chassis fitted with engines in Japan exceeded the figures recorded by the second-largest producer, India (732K units), twofold. China (313K units) ranked third in terms of total production with an 8.7% share.

In Japan, production of motor vehicle chassis fitted with engines increased at an average annual rate of +12.3% over the period from 2012-2022. In the other countries, the average annual rates were as follows: India (+28.5% per year) and China (-3.0% per year).

Imports

World Imports of Motor Vehicle Chassis Fitted with Engines

In 2022, purchases abroad of motor vehicle chassis fitted with engines increased by 224% to 546K units, rising for the second year in a row after four years of decline. Over the period under review, imports recorded a prominent expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, imports of motor vehicle chassis fitted with engines rose markedly to $2.5B in 2022. Overall, imports, however, showed a perceptible decline. The most prominent rate of growth was recorded in 2013 with an increase of 13%. Over the period under review, global imports of attained the maximum at $3.8B in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports By Country

The Philippines dominates engines structure, amounting to 369K units, which was approx. 68% of total imports in 2022. It was distantly followed by the UK (37K units), constituting a 6.8% share of total imports. The following importers - the Netherlands (15K units), Germany (12K units), the United States (10K units), Italy (10K units) and Malaysia (10K units) - together made up 10% of total imports.

The Philippines was also the fastest-growing in terms of the motor vehicle chassis fitted with engines imports, with a CAGR of +31.5% from 2012 to 2022. At the same time, Germany (+21.5%), Italy (+19.8%), the Netherlands (+19.4%) and the United States (+17.3%) displayed positive paces of growth. By contrast, Malaysia (-3.6%) and the UK (-8.3%) illustrated a downward trend over the same period. From 2012 to 2022, the share of the Philippines and the Netherlands increased by +58 and +1.7 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest motor vehicle chassis fitted with engines importing markets worldwide were Germany ($241M), the United States ($155M) and the UK ($111M), with a combined 20% share of global imports. The Netherlands, the Philippines, Malaysia and Italy lagged somewhat behind, together comprising a further 6.4%.

The Philippines, with a CAGR of +22.2%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

The average import price for motor vehicle chassis fitted with engines stood at $4,667 per unit in 2022, shrinking by -67.6% against the previous year. In general, the import price continues to indicate a abrupt descent. The most prominent rate of growth was recorded in 2017 when the average import price increased by 53%. Over the period under review, average import prices reached the maximum at $21,892 per unit in 2019; however, from 2020 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Germany ($19,884 per unit), while the Philippines ($119 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+4.5%), while the other global leaders experienced mixed trends in the import price figures.

Exports

World Exports of Motor Vehicle Chassis Fitted with Engines

In 2022, after three years of decline, there was significant growth in shipments abroad of motor vehicle chassis fitted with engines, when their volume increased by 24% to 210K units. Over the period under review, exports, however, saw a relatively flat trend pattern. The global exports peaked at 250K units in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, exports of motor vehicle chassis fitted with engines rose sharply to $2.3B in 2022. In general, exports, however, saw a deep reduction. Over the period under review, the global exports of attained the peak figure at $4.3B in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports By Country

India (45K units) and Japan (45K units) represented roughly 43% of total exports in 2022. It was distantly followed by the UK (29K units), Thailand (26K units) and Singapore (12K units), together achieving a 32% share of total exports. The following exporters - Brazil (9K units), Lithuania (6.9K units), China (6.3K units), Sweden (4.3K units) and Luxembourg (3.8K units) - together made up 14% of total exports.

From 2012 to 2022, the biggest increases were recorded for Luxembourg (with a CAGR of +45.2%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, Brazil ($484M), China ($385M) and India ($314M) constituted the countries with the highest levels of exports in 2022, together comprising 51% of global exports.

China, with a CAGR of +24.9%, recorded the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

In 2022, the average export price for motor vehicle chassis fitted with engines amounted to $11,124 per unit, falling by -8% against the previous year. Over the period under review, the export price saw a abrupt contraction. The pace of growth was the most pronounced in 2017 when the average export price increased by 18% against the previous year. Over the period under review, the average export prices hit record highs at $19,593 per unit in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Sweden ($69,498 per unit), while Thailand ($62 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+8.4%), while the other global leaders experienced a decline in the export price figures.

Source: IndexBox Market Intelligence Platform