Europe: Motor Vehicle Engine Market 2024

Motor Vehicle Engine Market Size in Europe

After four years of growth, the Europe motor vehicle engine market decreased by -7.6% to $X in 2021. The total consumption indicated a noticeable expansion from 2012 to 2021: its value increased at an average annual rate of +3.7% 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 +40.3% against 2016 indices. Over the period under review, the market hit record highs at $X in 2020, and then fell in the following year.

Motor Vehicle Engine Production in Europe

In value terms, motor vehicle engine production shrank modestly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +4.2% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2018 with an increase of 22% against the previous year. Over the period under review, production reached the maximum level at $X in 2020, and then shrank in the following year.

Motor Vehicle Engine Exports

Exports in Europe

In 2021, approx. X tons of motor vehicle engines (spark-ignition) were exported in Europe; with an increase of 3.4% against 2020 figures. Over the period under review, exports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when exports increased by 12% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

In value terms, motor vehicle engine exports expanded markedly to $X in 2021. The total export value increased at an average annual rate of +1.5% over the period from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The pace of growth was the most pronounced in 2018 with an increase of 14%. The level of export peaked at $X in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

Exports by Country

The biggest shipments were from Germany (X tons), Hungary (X tons), France (X tons), Austria (X tons) and Poland (X tons), together accounting for 72% of total export. The UK (X tons) took a 6.7% share (based on physical terms) of total exports, which put it in second place, followed by Spain (4.6%).

From 2012 to 2021, the biggest increases were recorded for France (with a CAGR of +8.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest motor vehicle engine supplying countries in Europe were Germany ($X), Hungary ($X) and Austria ($X), together accounting for 58% of total exports. These countries were followed by France, Poland, the UK and Spain, which together accounted for a further 26%.

Poland, with a CAGR of +13.7%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Europe stood at $X per ton in 2021, surging by 6.2% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of origin: the country with the highest price was Germany ($X per ton), while France ($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 (+5.7%), while the other leaders experienced more modest paces of growth.

Motor Vehicle Engine Imports

Imports in Europe

In 2021, supplies from abroad of motor vehicle engines (spark-ignition) decreased by -1.6% to X tons, falling for the second consecutive year after four years of growth. Overall, imports saw a slight decline. The pace of growth was the most pronounced in 2017 with an increase of 11% against the previous year. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, motor vehicle engine imports expanded modestly to $X in 2021. In general, imports saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 when imports increased by 17% against the previous year. The level of import peaked at $X in 2019; however, from 2020 to 2021, imports failed to regain momentum.

Imports by Country

Germany (X tons), Russia (X tons) and Spain (X tons) represented roughly 50% of total imports in 2021. Italy (X tons) held the next position in the ranking, followed by the Czech Republic (X tons), Slovakia (X tons) and Hungary (X tons). All these countries together took approx. 26% share of total imports. France (X tons), Portugal (X tons), Belgium (X tons), the Netherlands (X tons), Poland (X tons) and the UK (X tons) took a little share of total imports.

From 2012 to 2021, the biggest increases were recorded for Italy (with a CAGR of +27.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Spain ($X) and Russia ($X) constituted the countries with the highest levels of imports in 2021, together comprising 47% of total imports. Slovakia, the Czech Republic, Italy, Hungary, France, Belgium, the UK, Portugal, the Netherlands and Poland lagged somewhat behind, together accounting for a further 47%.

Italy, with a CAGR of +22.6%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in Europe amounted to $X per ton, rising by 5.3% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.2%. The pace of growth was the most pronounced in 2018 an increase of 10% against the previous year. The level of import peaked in 2021 and is expected to retain growth in the near future.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belgium (+4.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform