Belgium: Internal Combustion Engines Market 2024

Internal Combustion Engines Market Size in Belgium

The Belgian internal combustion engines market contracted to $X in 2021, dropping by -13.7% against the previous year. Over the period under review, consumption, however, saw a noticeable downturn. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2021, consumption stood at a somewhat lower figure.

Internal Combustion Engines Production in Belgium

In value terms, internal combustion engines production shrank dramatically to $X in 2021 estimated in export price. Overall, production, however, posted resilient growth. The pace of growth was the most pronounced in 2020 with an increase of 97% against the previous year. As a result, production attained the peak level of $X, and then contracted remarkably in the following year.

Internal Combustion Engines Exports

Exports from Belgium

In 2021, after six years of growth, there was significant decline in overseas shipments of motor vehicles compression-ignition internal combustion piston engines, when their volume decreased by -7.5% to X units. Overall, exports, however, enjoyed a slight increase. The most prominent rate of growth was recorded in 2020 with an increase of 51% against the previous year. As a result, the exports reached the peak of X units, and then shrank in the following year.

In value terms, internal combustion engines exports rose markedly to $X in 2021. Over the period under review, exports continue to indicate a abrupt shrinkage. The most prominent rate of growth was recorded in 2020 with an increase of 49% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

The United Arab Emirates (X units), Brazil (X units) and Morocco (X units) were the main destinations of internal combustion engines exports from Belgium, together comprising 25% of total exports.

From 2012 to 2021, the biggest increases were recorded for the United Arab Emirates (with a CAGR of +126.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for internal combustion engines exported from Belgium were Brazil ($X), the UK ($X) and Australia ($X), together comprising 36% of total exports. France, the Netherlands, the United Arab Emirates, Guinea, Morocco, Senegal, Tunisia, Ghana, Nigeria and Kosovo lagged somewhat behind, together accounting for a further 17%.

The United Arab Emirates, with a CAGR of +78.5%, saw the highest growth rate of the value of exports, in terms of 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

The average internal combustion engines export price stood at $X per unit in 2021, growing by 20% against the previous year. Over the period under review, the export price, however, saw a deep reduction. Over the period under review, the average export prices attained the peak figure at $X per unit in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Kosovo (+5.1%), while the prices for the other major destinations experienced a decline.

Internal Combustion Engines Imports

Imports into Belgium

In 2021, after two years of decline, there was significant growth in purchases abroad of motor vehicles compression-ignition internal combustion piston engines, when their volume increased by 60% to X units. Over the period under review, imports, however, continue to indicate a abrupt shrinkage. Imports peaked at X units in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, internal combustion engines imports rose remarkably to $X in 2021. Overall, imports, however, showed a abrupt decline. Over the period under review, imports reached the maximum at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Sweden (X units) constituted the largest supplier of internal combustion engines to Belgium, accounting for a 81% share of total imports. Moreover, internal combustion engines imports from Sweden exceeded the figures recorded by the second-largest supplier, France (X units), fivefold.

From 2012 to 2021, the average annual growth rate of volume from Sweden amounted to -4.0%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+1.0% per year) and the UK (-45.4% per year).

In value terms, Sweden ($X) constituted the largest supplier of motor vehicles compression-ignition internal combustion piston engines to Belgium, comprising 89% of total imports. The second position in the ranking was held by France ($X), with an 8.8% share of total imports. It was followed by the UK, with a 0.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Sweden amounted to -2.8%. The remaining supplying countries recorded the following average annual rates of imports growth: France (-7.7% per year) and the UK (-45.2% per year).

Import Prices by Country

The average internal combustion engines import price stood at $X per unit in 2021, which is down by -29.1% against the previous year. Over the period under review, import price indicated pronounced growth from 2012 to 2021: its price increased at an average annual rate of +2.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2020 when the average import price increased by 22% against the previous year. As a result, import price attained the peak level of $X per unit, and then fell remarkably in the following year.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hungary (+9.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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