Bangladesh: Spark Plug Market 2024

Spark Plug Market Size in Bangladesh

The Bangladeshi spark plug market shrank dramatically to $X in 2022, falling by -24.8% 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). Over the period under review, consumption, however, continues to indicate a prominent increase. As a result, consumption attained the peak level of $X, and then contracted remarkably in the following year.

Spark Plug Exports

Exports from Bangladesh

In 2022, the amount of sparking plugs exported from Bangladesh reduced rapidly to X units, dropping by -48.8% compared with the previous year's figure. Over the period under review, exports, however, enjoyed a significant increase. The most prominent rate of growth was recorded in 2015 when exports increased by 147,300% against the previous year. As a result, the exports attained the peak of X units. From 2016 to 2022, the growth of the exports failed to regain momentum.

In value terms, spark plug exports shrank sharply to $X in 2022. In general, exports, however, showed a significant expansion. The pace of growth was the most pronounced in 2015 when exports increased by 94,287% against the previous year. As a result, the exports attained the peak of $X. From 2016 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Germany (X units) was the main destination for spark plug exports from Bangladesh, accounting for a 69% share of total exports. Moreover, spark plug exports to Germany exceeded the volume sent to the second major destination, Rwanda (X units), threefold. The third position in this ranking was held by Luxembourg (X units), with a 4.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Germany was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Rwanda (0.0% per year) and Luxembourg (0.0% per year).

In value terms, Germany ($X) emerged as the key foreign market for sparking plugs exports from Bangladesh, comprising 69% of total exports. The second position in the ranking was held by Rwanda ($X), with a 23% share of total exports. It was followed by Luxembourg, with a 4.1% share.

From 2012 to 2022, the average annual growth rate of value to Germany was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Rwanda (0.0% per year) and Luxembourg (0.0% per year).

Export Prices by Country

The average spark plug export price stood at $X per unit in 2022, almost unchanged from the previous year. Overall, the export price saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 an increase of 69% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2018 to 2022, the average export prices failed to regain momentum.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the countries with the highest prices were France ($X per unit) and Germany ($X per unit), while the average price for exports to Luxembourg ($X per unit) and Rwanda ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to France (+9.2%).

Spark Plug Imports

Imports into Bangladesh

In 2022, spark plug imports into Bangladesh dropped significantly to X units, waning by -23.5% compared with the previous year. In general, imports, however, saw a resilient expansion. The growth pace was the most rapid in 2021 with an increase of 93% against the previous year. As a result, imports attained the peak of X units, and then shrank markedly in the following year.

In value terms, spark plug imports contracted rapidly to $X in 2022. Over the period under review, imports, however, posted temperate growth. The pace of growth appeared the most rapid in 2021 with an increase of 105% against the previous year. As a result, imports reached the peak of $X, and then shrank significantly in the following year.

Imports by Country

India (X units), China (X units) and the United Arab Emirates (X units) were the main suppliers of spark plug imports to Bangladesh, together comprising 68% of total imports. The UK, the Netherlands, Switzerland, Germany and Austria lagged somewhat behind, together accounting for a further 29%.

From 2012 to 2022, the biggest increases were recorded for the Netherlands (with a CAGR of +49.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, India ($X), the United Arab Emirates ($X) and the UK ($X) appeared to be the largest spark plug suppliers to Bangladesh, with a combined 52% share of total imports. China, the Netherlands, Switzerland, Germany and Austria lagged somewhat behind, together comprising a further 26%.

Switzerland, with a CAGR of +35.2%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average spark plug import price amounted to $X per unit, which is down by -2.8% against the previous year. In general, the import price continues to indicate a perceptible decline. The pace of growth was the most pronounced in 2015 an increase of 52% against the previous year. The import price peaked at $X per unit in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Switzerland ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Austria (+10.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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