Belgium: Non-Propelled Vehicle Market 2024

Non-Propelled Vehicle Market Size in Belgium

The Belgian non-propelled vehicle market skyrocketed to $X in 2021, increasing by 54% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption continues to indicate a relatively flat trend pattern. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Non-Propelled Vehicle Exports

Exports from Belgium

In 2021, after five years of growth, there was decline in shipments abroad of vehicles not mechanically propelled, when their volume decreased by -2% to X units. In general, exports, however, recorded a significant expansion. The pace of growth was the most pronounced in 2014 with an increase of 268%. Over the period under review, the exports hit record highs at X units in 2020, and then contracted slightly in the following year.

In value terms, non-propelled vehicle exports rose significantly to $X in 2021. Over the period under review, exports, however, showed a mild increase. The most prominent rate of growth was recorded in 2020 with an increase of 35%. Over the period under review, the exports hit record highs in 2021 and are likely to continue growth in the immediate term.

Exports by Country

France (X units) was the main destination for non-propelled vehicle exports from Belgium, accounting for a 39% share of total exports. Moreover, non-propelled vehicle exports to France exceeded the volume sent to the second major destination, the Netherlands (X units), twofold. The third position in this ranking was taken by Germany (X units), with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to France amounted to +23.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+16.2% per year) and Germany (+24.9% per year).

In value terms, France ($X) remains the key foreign market for non-propelled vehicle exports from Belgium, comprising 41% of total exports. The second position in the ranking was held by the Netherlands ($X), with a 17% share of total exports. It was followed by Germany, with a 14% share.

From 2012 to 2021, the average annual growth rate of value to France stood at +2.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (-4.0% per year) and Germany (+2.8% per year).

Export Prices by Country

The average non-propelled vehicle export price stood at $X per unit in 2021, growing by 13% against the previous year. In general, the export price, however, saw a abrupt setback. The growth pace was the most rapid in 2015 when the average export price increased by 35%. The export price peaked at $X per unit in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Italy ($X per unit), while the average price for exports to the UK ($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 Italy (-16.0%), while the prices for the other major destinations experienced a decline.

Non-Propelled Vehicle Imports

Imports into Belgium

Non-propelled vehicle imports into Belgium rose markedly to X units in 2021, increasing by 14% compared with the year before. The total import volume increased at an average annual rate of +2.9% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2017 when imports increased by 28%. Over the period under review, imports reached the peak figure in 2021 and are likely to see steady growth in years to come.

In value terms, non-propelled vehicle imports surged to $X in 2021. Over the period under review, total imports indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +6.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +142.6% against 2015 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

China (X units), the Netherlands (X units) and Germany (X units) were the main suppliers of non-propelled vehicle imports to Belgium, with a combined 70% share of total imports. Italy, France, Poland, the UK and Moldova lagged somewhat behind, together comprising a further 23%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Italy (with a CAGR of +14.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), the Netherlands ($X) and Germany ($X) were the largest non-propelled vehicle suppliers to Belgium, with a combined 52% share of total imports. These countries were followed by Italy, France, Poland, the UK and Moldova, which together accounted for a further 20%.

Among the main suppliers, Poland, with a CAGR of +18.1%, 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 non-propelled vehicle import price stood at $X per unit in 2021, with an increase of 24% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.2%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the UK ($X per unit), while the price for Moldova ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the UK (+7.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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