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

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

In 2021, the Belgian market for internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) increased by 6% to $X, rising for the second consecutive year after two years of decline. Overall, consumption, however, continues to indicate a abrupt shrinkage. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2021, consumption stood at a somewhat lower figure.

Production of Internal Combustion Engines, Excluding Diesel (Other Than For Motor Vehicles And Aircraft) in Belgium

In value terms, production of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) reduced to $X in 2021 estimated in export price. In general, production, however, enjoyed a prominent increase. The growth pace was the most rapid in 2017 when the production volume increased by 149% against the previous year. As a result, production reached the peak level of $X. From 2018 to 2021, production of growth remained at a lower figure.

Exports of Internal Combustion Engines, Excluding Diesel (Other Than For Motor Vehicles And Aircraft)

Exports from Belgium

In 2021, approx. X tons of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) were exported from Belgium; growing by 12% against the previous year's figure. In general, total exports indicated a prominent increase from 2012 to 2021: its volume increased at an average annual rate of +7.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +24.7% against 2019 indices. The growth pace was the most rapid in 2017 when exports increased by 42%. The exports peaked in 2021 and are expected to retain growth in years to come.

In value terms, exports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) surged to $X in 2021. Over the period under review, total exports indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +5.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +77.3% against 2015 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Italy (X tons), Germany (X tons) and France (X tons) were the main destinations of exports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) from Belgium, with a combined 56% share of total exports. Poland, Sweden, Spain, the Netherlands, Bulgaria, Finland, Denmark and the UK lagged somewhat behind, together accounting for a further 34%.

From 2012 to 2021, the biggest increases were recorded for Bulgaria (with a CAGR of +22.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X), Germany ($X) and France ($X) appeared to be the largest markets for internal combustion engine (excl. diesel, moto vehicle and aircraft) exported from Belgium worldwide, together comprising 50% of total exports. Poland, Sweden, the Netherlands, Spain, Finland, Bulgaria, Denmark and the UK lagged somewhat behind, together comprising a further 43%.

Among the main countries of destination, Bulgaria, with a CAGR of +22.2%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average export price for internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) stood at $X per ton in 2021, rising by 8.4% against the previous year. Over the period under review, the export price, however, saw a slight downturn. The most prominent rate of growth was recorded in 2019 when the average export price increased by 17% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Finland (+1.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Internal Combustion Engines, Excluding Diesel (Other Than For Motor Vehicles And Aircraft)

Imports into Belgium

In 2021, the amount of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) imported into Belgium skyrocketed to X tons, increasing by 15% compared with the previous year. In general, imports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when imports increased by 18%. Over the period under review, imports of reached the maximum at X tons in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

In value terms, imports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) skyrocketed to $X in 2021. Overall, imports saw a relatively flat trend pattern. Imports peaked at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

China (X tons), Thailand (X tons) and the United States (X tons) were the main suppliers of imports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) to Belgium, together comprising 83% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +23.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) constituted the largest supplier of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) to Belgium, comprising 45% of total imports. The second position in the ranking was held by Japan ($X), with a 19% share of total imports. It was followed by China, with an 18% share.

From 2012 to 2021, the average annual growth rate of value from the United States totaled +8.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-7.6% per year) and China (+17.6% per year).

Import Prices by Country

The average import price for internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) stood at $X per ton in 2021, surging by 2.4% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the average import price increased by 11%. The import price peaked in 2021 and is likely to see steady growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+3.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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