Europe: Market for Equipment For Internal Combustion Engines 2024

Market Size for Equipment For Internal Combustion Engines in Europe

The Europe internal combustion engine equipment market fell modestly to $X in 2022, therefore, remained relatively stable against the previous year. Overall, consumption, however, continues to indicate a relatively flat trend pattern. 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 Europe

In value terms, internal combustion engine equipment production dropped slightly to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the production volume increased by 19% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2022, production growth failed to regain momentum.

Exports of Equipment For Internal Combustion Engines

Exports in Europe

In 2022, approx. X units of equipment for internal combustion engines were exported in Europe; falling by -16.6% compared with the previous year's figure. In general, exports saw a pronounced shrinkage. The growth pace was the most rapid in 2016 when exports increased by 23%. The volume of export peaked at X units in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, internal combustion engine equipment exports shrank to $X in 2022. Overall, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 17%. The level of export peaked at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

In 2022, Italy (X units) and Germany (X units) were the major exporters of equipment for internal combustion engines in Europe, together recording near 54% of total exports. Slovenia (X units) ranks next in terms of the total exports with an 8.4% share, followed by the Netherlands (7.9%), France (7.3%) and Spain (4.9%). Hungary (X units) held a minor share of total exports.

From 2012 to 2022, the biggest increases were recorded for Hungary (with a CAGR of +22.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) remains the largest internal combustion engine equipment supplier in Europe, comprising 40% of total exports. The second position in the ranking was held by Slovenia ($X), with a 13% share of total exports. It was followed by France, with a 12% share.

In Germany, internal combustion engine equipment exports plunged by an average annual rate of -3.3% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Slovenia (+8.5% per year) and France (-0.3% per year).

Export Prices by Country

In 2022, the export price in Europe amounted to $X per unit, growing by 7.1% against the previous year. Over the last decade, it increased at an average annual rate of +1.8%. The growth pace was the most rapid in 2019 an increase of 11%. The level of export peaked in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Hungary ($X per unit), while Spain ($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 Europe

Internal combustion engine equipment imports declined dramatically to X units in 2022, with a decrease of -25.3% compared with the year before. Overall, imports recorded a deep reduction. The most prominent rate of growth was recorded in 2021 with an increase of 48%. The volume of import peaked at X units in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, internal combustion engine equipment imports fell to $X in 2022. In general, imports showed a pronounced contraction. The most prominent rate of growth was recorded in 2021 when imports increased by 24% against the previous year. Over the period under review, imports reached the maximum at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Germany (X units) represented the key importer of equipment for internal combustion engines, constituting 29% of total imports. It was distantly followed by Poland (X units), France (X units), Italy (X units), Spain (X units), Russia (X units), the Netherlands (X units) and the UK (X units), together mixing up a 49% share of total imports. Belgium (X units), Romania (X units), Belarus (X units) and Austria (X units) held a little share of total imports.

From 2012 to 2022, average annual rates of growth with regard to internal combustion engine equipment imports into Germany stood at -4.2%. At the same time, Romania (+10.1%), Belarus (+9.6%) and the Netherlands (+3.4%) displayed positive paces of growth. Moreover, Romania emerged as the fastest-growing importer imported in Europe, with a CAGR of +10.1% from 2012-2022. Belgium and Spain experienced a relatively flat trend pattern. By contrast, Poland (-1.5%), Russia (-2.9%), Italy (-3.7%), France (-10.9%), Austria (-11.2%) and the UK (-17.9%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Germany, Poland, the Netherlands, Romania, Belarus, Spain and Belgium increased by +3.4, +3.2, +3, +2.9, +2.5, +2.2 and +1.9 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Germany ($X) constitutes the largest market for imported equipment for internal combustion engines in Europe, comprising 29% of total imports. The second position in the ranking was held by Poland ($X), with a 9.2% share of total imports. It was followed by France, with a 7.9% share.

From 2012 to 2022, the average annual growth rate of value in Germany amounted to -3.2%. In the other countries, the average annual rates were as follows: Poland (-0.9% per year) and France (-11.5% per year).

Import Prices by Country

In 2022, the import price in Europe amounted to $X per unit, rising by 21% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.8%. The level of import peaked at $X per unit in 2019; however, from 2020 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+13.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform