Belgium: Market for Diesel Engines (Other Than For Motor Vehicles And Aircraft) 2024

Market Size for Diesel Engines (Other Than For Motor Vehicles And Aircraft) in Belgium

The Belgian market for diesel engines (other than for motor vehicles and aircraft) fell remarkably to $X in 2022, declining by -22.3% against the previous year. Over the period under review, consumption, however, enjoyed a modest increase. Consumption of peaked at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Production of Diesel Engines (Other Than For Motor Vehicles And Aircraft) in Belgium

In value terms, production of diesel engines (other than for motor vehicles and aircraft) shrank rapidly to $X in 2022 estimated in export price. Over the period under review, production, however, saw a buoyant increase. The most prominent rate of growth was recorded in 2014 when the production volume increased by 301%. Over the period under review, production of hit record highs at $X in 2015; however, from 2016 to 2022, production failed to regain momentum.

Exports of Diesel Engines (Other Than For Motor Vehicles And Aircraft)

Exports from Belgium

Exports of diesel engines (other than for motor vehicles and aircraft) from Belgium expanded sharply to X units in 2022, with an increase of 7.8% on 2021 figures. In general, exports saw noticeable growth. The pace of growth appeared the most rapid in 2018 with an increase of 48%. The exports peaked at X units in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, exports of diesel engines (other than for motor vehicles and aircraft) dropped to $X in 2022. Over the period under review, exports, however, saw a mild shrinkage. The growth pace was the most rapid in 2020 with an increase of 40%. Over the period under review, the exports of reached the peak figure at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

Benin (X units) was the main destination for exports of diesel engines (other than for motor vehicles and aircraft) from Belgium, with a 39% share of total exports. Moreover, exports of diesel engines (other than for motor vehicles and aircraft) to Benin exceeded the volume sent to the second major destination, China (X units), fourfold. Brazil (X units) ranked third in terms of total exports with a 6.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Benin amounted to +123.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+2.4% per year) and Brazil (-7.3% per year).

In value terms, Benin ($X) emerged as the key foreign market for diesel engines (other than for motor vehicles and aircraft) exports from Belgium, comprising 26% of total exports. The second position in the ranking was taken by the Netherlands ($X), with a 9.7% share of total exports. It was followed by France, with an 8.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Benin amounted to +121.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (-9.1% per year) and France (+7.6% per year).

Export Prices by Country

The average export price for diesel engines (other than for motor vehicles and aircraft) stood at $X per unit in 2022, with a decrease of -19.4% against the previous year. In general, the export price recorded a deep setback. The pace of growth was the most pronounced in 2015 when the average export price increased by 43%. As a result, the export price reached the peak level of $X per unit. From 2016 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Poland ($X per unit), while the average price for exports to Guinea ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Poland (+3.9%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Diesel Engines (Other Than For Motor Vehicles And Aircraft)

Imports into Belgium

In 2022, imports of diesel engines (other than for motor vehicles and aircraft) into Belgium reduced to X units, with a decrease of -8.8% compared with the previous year. Overall, imports, however, posted resilient growth. The growth pace was the most rapid in 2016 when imports increased by 109% against the previous year. Over the period under review, imports of reached the peak figure at X units in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, imports of diesel engines (other than for motor vehicles and aircraft) dropped notably to $X in 2022. Over the period under review, imports recorded a abrupt decline. The pace of growth was the most pronounced in 2017 when imports increased by 69%. Over the period under review, imports of reached the maximum at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Germany (X units) constituted the largest supplier of diesel engines (other than for motor vehicles and aircraft) to Belgium, accounting for a 48% share of total imports. Moreover, imports of diesel engines (other than for motor vehicles and aircraft) from Germany exceeded the figures recorded by the second-largest supplier, China (X units), threefold. The Netherlands (X units) ranked third in terms of total imports with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Germany amounted to +10.0%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+38.4% per year) and the Netherlands (+23.5% per year).

In value terms, the largest diesel engines (other than for motor vehicles and aircraft) suppliers to Belgium were Italy ($X), Germany ($X) and China ($X), together comprising 43% of total imports.

China, with a CAGR of +53.1%, 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 import price for diesel engines (other than for motor vehicles and aircraft) amounted to $X per unit, falling by -17.7% against the previous year. Over the period under review, the import price showed a abrupt setback. The most prominent rate of growth was recorded in 2020 an increase of 15%. Over the period under review, average import prices attained the maximum at $X per unit in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+10.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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