Eastern Europe: Market for Equipment For Internal Combustion Engines 2024

Market Size for Equipment For Internal Combustion Engines in Eastern Europe

After two years of growth, the East European internal combustion engine equipment market decreased by -0.7% to $X in 2022. The market value increased at an average annual rate of +3.6% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market failed to regain momentum.

Production of Equipment For Internal Combustion Engines in Eastern Europe

In value terms, internal combustion engine equipment production dropped to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.2% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2018 with an increase of 22%. As a result, production attained the peak level of $X. From 2019 to 2022, production growth remained at a somewhat lower figure.

Exports of Equipment For Internal Combustion Engines

Exports in Eastern Europe

Internal combustion engine equipment exports fell dramatically to X units in 2022, waning by -18.5% on the year before. In general, exports, however, continue to indicate prominent growth. The pace of growth was the most pronounced in 2014 when exports increased by 134%. The volume of export peaked at X units in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, internal combustion engine equipment exports expanded markedly to $X in 2022. Over the period under review, exports, however, enjoyed a buoyant expansion. The most prominent rate of growth was recorded in 2018 with an increase of 118%. Over the period under review, the exports attained the peak figure at $X in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

In 2022, Hungary (X units), distantly followed by Poland (X units), Russia (X units), the Czech Republic (X units) and Belarus (X units) were the main exporters of equipment for internal combustion engines, together achieving 85% of total exports. Romania (X units), Slovakia (X units) and Lithuania (X units) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Slovakia (with a CAGR of +30.5%), while the other leaders experienced more modest paces of growth.

In value terms, Hungary ($X) remains the largest internal combustion engine equipment supplier in Eastern Europe, comprising 58% of total exports. The second position in the ranking was taken by Poland ($X), with a 19% share of total exports. It was followed by Russia, with an 8.1% share.

In Hungary, internal combustion engine equipment exports increased at an average annual rate of +32.3% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Poland (+5.4% per year) and Russia (+3.0% per year).

Export Prices by Country

In 2022, the export price in Eastern Europe amounted to $X per unit, with an increase of 34% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.3%. As a result, the export 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 exporting countries. In 2022, amid the top suppliers, the country with the highest price was Hungary ($X per unit), while Belarus ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hungary (+7.8%), while the other leaders experienced more modest paces of growth.

Imports of Equipment For Internal Combustion Engines

Imports in Eastern Europe

In 2022, overseas purchases of equipment for internal combustion engines decreased by -30.4% to X units for the first time since 2019, thus ending a two-year rising trend. Overall, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by 59% against the previous year. As a result, imports attained the peak of X units, and then contracted notably in the following year.

In value terms, internal combustion engine equipment imports reduced to $X in 2022. In general, imports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2017 when imports increased by 40% against the previous year. Over the period under review, imports reached the maximum at $X in 2021, and then shrank in the following year.

Imports by Country

Poland represented the key importing country with an import of around X units, which recorded 41% of total imports. Russia (X units) ranks second in terms of the total imports with a 22% share, followed by Romania (16%) and Belarus (14%). Ukraine (X units) and Lithuania (X units) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Romania (with a CAGR of +10.1%), while purchases for the other leaders experienced mixed trends in the imports figures.

In value terms, Poland ($X) constitutes the largest market for imported equipment for internal combustion engines in Eastern Europe, comprising 39% of total imports. The second position in the ranking was held by Russia ($X), with a 13% share of total imports. It was followed by Romania, with a 9.7% share.

In Poland, internal combustion engine equipment imports remained relatively stable over the period from 2012-2022. In the other countries, the average annual rates were as follows: Russia (-5.3% per year) and Romania (+5.9% per year).

Import Prices by Country

The import price in Eastern Europe stood at $X per unit in 2022, jumping by 33% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the import price increased by 41% against the previous year. As a result, import price attained the peak level of $X per unit. From 2020 to 2022, the import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Poland ($X per unit), while Belarus ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+0.6%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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