Japan Leads East Asia's Internal Combustion Engine Equipment Exports in 2024
East Asia's internal combustion engine equipment market witnessed significant shifts in 2024. Japan emerged as the primary exporter, while China led in imports and exports by volume.
Japan dominated the export scene, accounting for the majority of equipment shipped out. This follows a 2024 decline in the market's sales value by X% to $X. Meanwhile, China maintained its position as the main exporter by volume, with a near X% share.
Japan's exports surged by X% to X units in 2024, driven by a CAGR of X% from 2012 to 2024. However, the region's production shrank modestly to $X, and consumption peaked at $X. Imports also saw a significant decline, with a decrease of X% to X units.
China had the highest import price, at $X per unit, while the overall import price in Eastern Asia jumped by X% to $X per unit.
In 2024, Japan solidified its position as the main exporter of internal combustion engine equipment in East Asia, while China led in exports by volume. Despite a decline in sales value and production, consumption reached a peak. Looking ahead, the region's import prices are expected to remain high.
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