Belgium: Spark Plug Market 2024

Spark Plug Market Size in Belgium

The Belgian spark plug market dropped markedly to $X in 2022, waning by -21.9% against the previous year. Over the period under review, consumption saw a noticeable downturn. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market remained at a lower figure.

Spark Plug Production in Belgium

In value terms, spark plug production rose remarkably to $X in 2022 estimated in export price. Over the period under review, production showed a relatively flat trend pattern. The growth pace was the most rapid in 2020 when the production volume increased by 26% against the previous year. As a result, production reached the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

Spark Plug Exports

Exports from Belgium

In 2022, the amount of sparking plugs exported from Belgium reduced to X units, which is down by -7.6% on 2021 figures. Overall, exports showed a mild slump. The pace of growth was the most pronounced in 2021 with an increase of 78% against the previous year. Over the period under review, the exports attained the maximum at X units in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, spark plug exports shrank markedly to $X in 2022. In general, exports recorded a slight curtailment. The most prominent rate of growth was recorded in 2021 when exports increased by 39%. As a result, the exports reached the peak of $X, and then dropped remarkably in the following year.

Exports by Country

France (X units), Germany (X units) and the Netherlands (X units) were the main destinations of spark plug exports from Belgium, together accounting for 47% of total exports. Italy, Spain, Poland, Hungary, Turkey, the United States, Denmark, Austria, Sweden and the UK lagged somewhat behind, together accounting for a further 37%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Hungary (with a CAGR of +20.2%), while the other leaders experienced more modest paces of growth.

In value terms, France ($X), Germany ($X) and the Netherlands ($X) constituted the largest markets for spark plug exported from Belgium worldwide, together accounting for 46% of total exports. Italy, Spain, Poland, Hungary, Turkey, the United States, Denmark, Austria, Sweden and the UK lagged somewhat behind, together comprising a further 36%.

Among the main countries of destination, Hungary, with a CAGR of +20.1%, 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

In 2022, the average spark plug export price amounted to $X per unit, falling by -27.8% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 an increase of 31%. Over the period under review, the average export prices reached the peak figure at $X per unit in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the highest price was recorded for prices to the Netherlands ($X per unit) and Poland ($X per unit), while the average price for exports to France ($X per unit) and Hungary ($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 the Netherlands (-0.1%), while the prices for the other major destinations experienced a decline.

Spark Plug Imports

Imports into Belgium

After two years of growth, supplies from abroad of sparking plugs decreased by -42% to X units in 2022. Over the period under review, imports showed a perceptible downturn. The growth pace was the most rapid in 2021 with an increase of 31%. As a result, imports reached the peak of X units, and then dropped rapidly in the following year.

In value terms, spark plug imports contracted sharply 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 38%. As a result, imports attained the peak of $X, and then contracted dramatically in the following year.

Imports by Country

In 2022, Germany (X units) constituted the largest spark plug supplier to Belgium, accounting for a 41% share of total imports. Moreover, spark plug imports from Germany exceeded the figures recorded by the second-largest supplier, France (X units), threefold. The third position in this ranking was held by the Netherlands (X units), with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Germany was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: France (+12.6% per year) and the Netherlands (-3.5% per year).

In value terms, Germany ($X) constituted the largest supplier of sparking plugs to Belgium, comprising 41% of total imports. The second position in the ranking was held by France ($X), with a 14% share of total imports. It was followed by the Netherlands, with a 14% share.

From 2012 to 2022, the average annual growth rate of value from Germany stood at +4.6%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+18.0% per year) and the Netherlands (+1.2% per year).

Import Prices by Country

The average spark plug import price stood at $X per unit in 2022, picking up by 9.5% against the previous year. Overall, import price indicated a notable expansion from 2012 to 2022: its price increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, spark plug import price increased by +12.2% against 2018 indices. The most prominent rate of growth was recorded in 2018 an increase of 15%. Over the period under review, average import prices attained the maximum in 2022 and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Mexico ($X per unit) and Japan ($X per unit), while the price for Hungary ($X per unit) and France ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+4.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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