The import of parts for internal combustion spark ignition engines to China is forecasted to grow steadily from 2024 to 2028, with values in billion US dollars ranging from 4.63 in 2024 to 5.07 in 2028. In 2023, the value was at 4.52 billion US dollars, allowing us to observe an upward trend in yearly imports.
- Year-on-year growth from 2023 to 2024 indicates a 2.38% increase.
- From 2024 to 2025, the increase is expected to be approximately 2.48%.
- A growth of about 2.37% is anticipated from 2025 to 2026.
- For 2026 to 2027, a rise around 2.27% is projected.
- From 2027 to 2028, another 2.17% growth is expected.
The compound annual growth rate (CAGR) for the forecasted period from 2024 to 2028 is projected at approximately 2.33%.
Future trends to watch include technological advancements in engine parts, changes in regulatory frameworks, and shifts towards sustainable and electric vehicles, which may impact import demand for traditional engine parts.
