Iceland: Motor Market 2020

Motor Market Size in Iceland

The revenue of the motor market in Iceland amounted to $X in 2018, rising by X% 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). Overall, motor consumption continues to indicate a buoyant expansion. The growth pace was the most rapid in 2008 with an increase of X% year-to-year. In that year, the motor market reached its peak level of $X. From 2009 to 2018, the growth of the motor market remained at a lower figure.

Motor Exports

Exports from Iceland

In 2018, approx. X units of motors of an output not exceeding X w; other dc motors and dc generators were exported from Iceland; growing by X% against the previous year. Over the period under review, motor exports, however, continue to indicate an abrupt decrease. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. Iceland exports peaked at X units in 2007; however, from 2008 to 2018, exports remained at a lower figure.

In value terms, motor exports stood at $X in 2018. Overall, motor exports, however, continue to indicate a mild shrinkage. The pace of growth appeared the most rapid in 2014 with an increase of X% year-to-year. Iceland exports peaked at $X in 2008; however, from 2009 to 2018, exports remained at a lower figure.

Exports by Country

In 2018, China (X units), distantly followed by Germany (X units), Thailand (X units), Switzerland (X units), Vietnam (X units) and Mexico (X units) represented the largest exporters of motors of an output not exceeding X w; other dc motors and dc generators, together constituting X% of total exports. Italy (X units), Japan (X units), South Korea (X units), Taiwan, Chinese (X units), Serbia (X units) and the U.S. (X units) followed a long way behind the leaders.

From 2007 to 2018, the most notable rate of growth in terms of exports, amongst the main exporting countries, was attained by Serbia, while the other leaders experienced more modest paces of growth.

In value terms, China ($X) remains the largest motor supplier from Iceland, comprising X% of global exports. The second position in the ranking was occupied by Germany ($X), with a X% share of global exports. It was followed by Mexico, with a X% share.

From 2007 to 2018, the average annual growth rate of value in China amounted to +X%. The remaining exporting countries recorded the following average annual rates of exports growth: Germany (+X% per year) and Mexico (+X% per year).

Export Prices by Country

In 2018, the motor export price in Iceland amounted to $X per unit, coming down by -X% against the previous year. Over the period under review, the motor export price, however, continues to indicate a buoyant increase. The most prominent rate of growth was recorded in 2015 an increase of X% year-to-year. Over the period under review, the export prices for motors of an output not exceeding X w; other dc motors and dc generators attained their peak figure at $X per unit in 2009; however, from 2010 to 2018, export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2018, the country with the highest price was the U.S. ($X per unit), while Serbia ($X per unit) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by China, while the other leaders experienced more modest paces of growth.

Motor Imports

Imports into Iceland

In 2018, the amount of motors of an output not exceeding X w; other dc motors and dc generators imported into Iceland totaled X units, growing by X% against the previous year. Overall, motor imports, however, continue to indicate a mild drop. The most prominent rate of growth was recorded in 2008 with an increase of X% against the previous year. In that year, motor imports attained their peak of X units. From 2009 to 2018, the growth of motor imports remained at a somewhat lower figure.

In value terms, motor imports amounted to $X in 2018. In general, motor imports, however, continue to indicate a resilient increase. The most prominent rate of growth was recorded in 2018 when imports increased by X% year-to-year. In that year, motor imports attained their peak and are likely to continue its growth in the immediate term.

Imports by Country

In 2018, China (X units), the U.S. (X units) and Germany (X units) represented the main importers of motors of an output not exceeding X w; other dc motors and dc generators in the world, creating X% of total import. Mexico (X units) occupied a X% share (based on tons) of total imports, which put it in second place, followed by the Czech Republic (X%). Japan (X units), China, Hong Kong SAR (X units), Thailand (X units), Malaysia (X units), Italy (X units), Poland (X units) and Brazil (X units) followed a long way behind the leaders.

From 2007 to 2018, the most notable rate of growth in terms of imports, amongst the main importing countries, was attained by Poland, while the other leaders experienced more modest paces of growth.

In value terms, the U.S. ($X), Germany ($X) and Mexico ($X) appeared to be the countries with the highest levels of imports in 2018, together accounting for X% of total imports.

In terms of the main importing countries, Mexico experienced the highest rates of growth with regard to imports, over the last eleven years, while the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2018, the motor import price in Iceland amounted to $X per unit, jumping by X% against the previous year. Overall, the motor import price continues to indicate a remarkable expansion. The most prominent rate of growth was recorded in 2009 an increase of X% y-o-y. Iceland import price peaked in 2018 and is likely to see steady growth in the near future.

Prices varied noticeably by the country of destination; the country with the highest price was the U.S. ($X per unit), while China ($X per unit) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by China, Hong Kong SAR, while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform