Belgium: Market for Equipment For Internal Combustion Engines 2024

Market Size for Equipment For Internal Combustion Engines in Belgium

The Belgian internal combustion engine equipment market reduced to $X in 2022, with a decrease of -10% against the previous year. Overall, consumption showed a relatively flat trend pattern. As a result, consumption attained the peak level of $X, and then dropped in the following year.

Production of Equipment For Internal Combustion Engines in Belgium

In value terms, internal combustion engine equipment production dropped to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a mild setback. The pace of growth was the most pronounced in 2018 with an increase of 24%. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Exports of Equipment For Internal Combustion Engines

Exports from Belgium

In 2022, shipments abroad of equipment for internal combustion engines decreased by -35.5% to X units, falling for the fourth consecutive year after four years of growth. Overall, exports showed a drastic downturn. The most prominent rate of growth was recorded in 2015 when exports increased by 40%. Over the period under review, the exports attained the peak figure at X units in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, internal combustion engine equipment exports declined significantly to $X in 2022. Over the period under review, exports recorded a perceptible slump. The most prominent rate of growth was recorded in 2015 when exports increased by 51%. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

France (X units), Spain (X units) and Brazil (X units) were the main destinations of internal combustion engine equipment exports from Belgium, with a combined 39% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Brazil (with a CAGR of +39.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, France ($X), Spain ($X) and Brazil ($X) constituted the largest markets for internal combustion engine equipment exported from Belgium worldwide, with a combined 39% share of total exports.

Brazil, with a CAGR of +44.0%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average internal combustion engine equipment export price amounted to $X per unit, therefore, remained relatively stable against the previous year. Overall, export price indicated a temperate increase from 2012 to 2022: its price increased at an average annual rate of +3.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, internal combustion engine equipment export price increased by +70.2% against 2016 indices. The pace of growth appeared the most rapid in 2021 when the average export price increased by 16% against the previous year. Over the period under review, the average export prices reached the peak figure in 2022 and is expected to retain growth in years to come.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the countries with the highest prices were Brazil ($X per unit) and the Netherlands ($X per unit), while the average price for exports to Luxembourg ($X per unit) and the UK ($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 Brazil (+3.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Equipment For Internal Combustion Engines

Imports into Belgium

In 2022, internal combustion engine equipment imports into Belgium fell significantly to X units, waning by -32.9% against 2021. In general, imports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 when imports increased by 84% against the previous year. Over the period under review, imports reached the maximum at X units in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, internal combustion engine equipment imports declined significantly to $X in 2022. Overall, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 62% against the previous year. Over the period under review, imports attained the peak figure at $X in 2017; however, from 2018 to 2022, imports remained at a lower figure.

Imports by Country

Sweden (X units), Germany (X units) and France (X units) were the main suppliers of internal combustion engine equipment imports to Belgium, with a combined 69% share of total imports. The Netherlands, Italy, China, the Czech Republic, the United States, Japan and the UK lagged somewhat behind, together accounting for a further 25%.

From 2012 to 2022, the biggest increases were recorded for the Czech Republic (with a CAGR of +66.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest internal combustion engine equipment suppliers to Belgium were Sweden ($X), Germany ($X) and France ($X), together comprising 69% of total imports. The Netherlands, Italy, China, the Czech Republic, the United States, Japan and the UK lagged somewhat behind, together comprising a further 25%.

Among the main suppliers, the Czech Republic, with a CAGR of +66.7%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average internal combustion engine equipment import price stood at $X per unit in 2022, with an increase of 12% against the previous year. Overall, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 an increase of 23%. As a result, import price attained the peak level of $X per unit. From 2020 to 2022, the average import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Sweden ($X per unit) and Japan ($X per unit), while the price for the UK ($X per unit) and Italy ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Czech Republic (+0.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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