Denmark: 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 Denmark

In 2021, the Danish market for internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) increased by 20% to $X, rising for the second year in a row after three years of decline. Over the period under review, the total consumption indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +8.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +75.7% against 2019 indices. Consumption of peaked in 2021 and is likely to see gradual growth in years to come.

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

In value terms, production of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) fell dramatically to $X in 2021 estimated in export price. Overall, production, however, saw a abrupt decrease. The growth pace was the most rapid in 2014 when the production volume increased by 137%. As a result, production reached the peak level of $X. From 2015 to 2021, production of growth failed to regain momentum.

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

Exports from Denmark

In 2021, shipments abroad of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) decreased by -26.9% to X tons, falling for the fourth consecutive year after three years of growth. Over the period under review, exports saw a relatively flat trend pattern. The growth pace was the most rapid in 2016 with an increase of 61% against the previous year. The exports peaked at X tons in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

In value terms, exports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) contracted markedly to $X in 2021. In general, total exports indicated notable growth from 2012 to 2021: its value increased at an average annual rate of +3.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -37.0% against 2017 indices. The growth pace was the most rapid in 2013 when exports increased by 53%. Over the period under review, the exports of attained the peak figure at $X in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Greenland (X tons) was the main destination for exports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) from Denmark, with a 54% share of total exports. Moreover, exports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) to Greenland exceeded the volume sent to the second major destination, Norway (X tons), threefold. The third position in this ranking was taken by the UK (X tons), with a 10% share.

From 2012 to 2021, the average annual growth rate of volume to Greenland stood at +6.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Norway (-3.7% per year) and the UK (+65.6% per year).

In value terms, Greenland ($X) remains the key foreign market for internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) exports from Denmark, comprising 70% of total exports. The second position in the ranking was taken by the United States ($X), with a 9.2% share of total exports. It was followed by Norway, with an 8.5% share.

From 2012 to 2021, the average annual growth rate of value to Greenland totaled +5.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+47.4% per year) and Norway (-2.5% per year).

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, growing by 10% against the previous year. Over the last nine-year period, it increased at an average annual rate of +3.0%. The growth pace was the most rapid in 2013 when the average export price increased by 22%. Over the period under review, the average export prices reached the maximum in 2021 and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Tunisia ($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 Vietnam (+30.2%), 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 Denmark

In 2021, after five years of growth, there was decline in overseas purchases of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft), when their volume decreased by -0.9% to X tons. Over the period under review, imports, however, recorded a resilient increase. The pace of growth appeared the most rapid in 2016 with an increase of 98% against the previous year. Imports peaked at X tons in 2020, and then dropped modestly in the following year.

In value terms, imports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) surged to $X in 2021. Overall, imports, however, continue to indicate a strong expansion. The pace of growth was the most pronounced in 2016 when imports increased by 78% against the previous year. Over the period under review, imports of reached the maximum in 2021 and are likely to continue growth in years to come.

Imports by Country

Sweden (X tons), Japan (X tons) and Germany (X tons) were the main suppliers of imports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) to Denmark, together accounting for 59% of total imports. Belgium, China, the Netherlands, France, the United States, Italy, Poland, Lithuania and Thailand lagged somewhat behind, together accounting for a further 35%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Poland (with a CAGR of +138.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Japan ($X) and Belgium ($X) constituted the largest internal combustion engine (excl. diesel, moto vehicle and aircraft) suppliers to Denmark, with a combined 57% share of total imports. Sweden, France, Italy, the Netherlands, Poland, China, Lithuania, Thailand and the United States lagged somewhat behind, together comprising a further 35%.

Poland, with a CAGR of +193.3%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average import price for internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) amounted to $X per ton, jumping by 20% against the previous year. Over the period under review, the import price, however, recorded a slight downturn. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was France ($X per ton), while the price for Sweden ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Poland (+23.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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