Ireland: Ignition Magneto Market 2024

Ignition Magneto Market Size in Ireland

The Irish ignition magneto market skyrocketed to $X in 2021, jumping by 29% 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). Over the period under review, consumption enjoyed a buoyant expansion. Over the period under review, the market reached the maximum level in 2021 and is expected to retain growth in the immediate term.

Ignition Magneto Exports

Exports from Ireland

In 2021, overseas shipments of ignition magnetos, magneto-dynamos and magnetic flywheels increased by 79% to X units, rising for the fourth consecutive year after two years of decline. Over the period under review, exports posted a significant expansion. The pace of growth was the most pronounced in 2019 when exports increased by 1,375%. The exports peaked in 2021 and are likely to continue growth in the near future.

In value terms, ignition magneto exports surged to $X in 2021. Overall, exports posted a significant expansion. The pace of growth appeared the most rapid in 2015 when exports increased by 627%. The exports peaked in 2021 and are expected to retain growth in the near future.

Exports by Country

Oman (X units) was the main destination for ignition magneto exports from Ireland, accounting for a 90% share of total exports. Moreover, ignition magneto exports to Oman exceeded the volume sent to the second major destination, the UK (X units), more than tenfold. The third position in this ranking was taken by the United States (X units), with a 0.8% share.

From 2012 to 2021, the average annual growth rate of volume to Oman stood at +67.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (-30.7% per year) and the United States (-11.9% per year).

In value terms, Oman ($X) emerged as the key foreign market for ignition magnetos, magneto-dynamos and magnetic flywheels exports from Ireland, comprising 85% of total exports. The second position in the ranking was held by the UK ($X), with an 8.9% share of total exports. It was followed by the United States, with a 4.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Oman totaled +65.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (-36.5% per year) and the United States (+4.5% per year).

Export Prices by Country

The average ignition magneto export price stood at $X per unit in 2021, surging by 2.7% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the average export price increased by 40%. The export price peaked at $X per unit in 2018; however, from 2019 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was the United States ($X per unit), while the average price for exports to Oman ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+18.7%), while the prices for the other major destinations experienced mixed trend patterns.

Ignition Magneto Imports

Imports into Ireland

Ignition magneto imports into Ireland was estimated at X units in 2021, increasing by 12% against the year before. Overall, imports posted buoyant growth. The most prominent rate of growth was recorded in 2019 when imports increased by 98%. Over the period under review, imports attained the peak figure in 2021 and are likely to continue growth in the near future.

In value terms, ignition magneto imports soared to $X in 2021. Over the period under review, imports saw buoyant growth. The pace of growth appeared the most rapid in 2019 when imports increased by 49%. Over the period under review, imports reached the maximum in 2021 and are likely to see gradual growth in the near future.

Imports by Country

In 2021, the Netherlands (X units) constituted the largest ignition magneto supplier to Ireland, accounting for a 72% share of total imports. Moreover, ignition magneto imports from the Netherlands exceeded the figures recorded by the second-largest supplier, China (X units), sevenfold. The third position in this ranking was taken by Italy (X units), with a 4.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the Netherlands totaled +26.9%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+133.8% per year) and Italy (+28.3% per year).

In value terms, the Netherlands ($X) constituted the largest supplier of ignition magnetos, magneto-dynamos and magnetic flywheels to Ireland, comprising 68% of total imports. The second position in the ranking was held by China ($X), with a 7.8% share of total imports. It was followed by Italy, with a 6.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the Netherlands totaled +28.1%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+115.8% per year) and Italy (+25.0% per year).

Import Prices by Country

In 2021, the average ignition magneto import price amounted to $X per unit, growing by 26% against the previous year. In general, the import price, however, continues to indicate a slight contraction. Over the period under review, average import prices hit record highs at $X per unit in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Italy ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+11.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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