Ireland: Market for Internal Combustion Engines, Excluding Diesel (Other Than For Motor Vehicles And Aircraft) 2024

Market Size for Internal Combustion Engines, Excluding Diesel (Other Than For Motor Vehicles And Aircraft) in Ireland

In 2021, the Irish market for internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) was finally on the rise to reach $X for the first time since 2014, thus ending a six-year declining trend. Over the period under review, consumption, however, continues to indicate a abrupt shrinkage. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2021, consumption remained at a lower figure.

Production of Internal Combustion Engines, Excluding Diesel (Other Than For Motor Vehicles And Aircraft) in Ireland

In value terms, production of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) shrank to $X in 2021 estimated in export price. Overall, production, however, saw a deep setback. The pace of growth appeared the most rapid in 2013 with an increase of 20%. As a result, production attained the peak level of $X. From 2014 to 2021, production of growth remained at a lower figure.

Exports of Internal Combustion Engines, Excluding Diesel (Other Than For Motor Vehicles And Aircraft)

Exports from Ireland

In 2021, after four years of growth, there was significant decline in shipments abroad of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft), when their volume decreased by -62.3% to X tons. Overall, exports, however, saw strong growth. The growth pace was the most rapid in 2020 with an increase of 348% against the previous year. As a result, the exports attained the peak of X tons, and then dropped significantly in the following year.

In value terms, exports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) declined sharply to $X in 2021. Over the period under review, exports, however, saw a buoyant increase. The growth pace was the most rapid in 2020 when exports increased by 668% against the previous year. As a result, the exports reached the peak of $X, and then dropped markedly in the following year.

Exports by Country

The UK (X tons) was the main destination for exports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) from Ireland, with a 61% share of total exports. Moreover, exports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) to the UK exceeded the volume sent to the second major destination, the Netherlands (X tons), threefold. The third position in this ranking was held by Brazil (X tons), with a 15% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the UK amounted to +50.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+196.5% per year) and Brazil (+363.1% per year).

In value terms, the UK ($X) emerged as the key foreign market for internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) exports from Ireland, comprising 63% of total exports. The second position in the ranking was held by the Netherlands ($X), with a 17% share of total exports. It was followed by Spain, with an 8.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the UK amounted to +34.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+42.2% per year) and Spain (+321.3% per year).

Export Prices by Country

The average export price for internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) stood at $X per ton in 2021, declining by -43.4% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when the average export price increased by 382%. As a result, the export price attained the peak level of $X per ton. From 2017 to 2021, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Spain ($X per ton), while the average price for exports to Brazil ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Ghana (-2.4%), while the prices for the other major destinations experienced a decline.

Imports of Internal Combustion Engines, Excluding Diesel (Other Than For Motor Vehicles And Aircraft)

Imports into Ireland

In 2021, purchases abroad of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Over the period under review, imports posted a significant expansion. The growth pace was the most rapid in 2014 with an increase of 176%. Imports peaked in 2021 and are expected to retain growth in years to come.

In value terms, imports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) rose markedly to $X in 2021. In general, imports saw a significant increase. The growth pace was the most rapid in 2014 when imports increased by 109% against the previous year. Over the period under review, imports of reached the peak figure in 2021 and are likely to continue growth in the near future.

Imports by Country

In 2021, Japan (X tons) constituted the largest supplier of internal combustion engine (excl. diesel, moto vehicle and aircraft) to Ireland, with a 59% share of total imports. Moreover, imports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) from Japan exceeded the figures recorded by the second-largest supplier, Belgium (X tons), fivefold. China (X tons) ranked third in terms of total imports with an 8.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Japan totaled +33.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+42.0% per year) and China (+12.1% per year).

In value terms, Japan ($X) constituted the largest supplier of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) to Ireland, comprising 58% of total imports. The second position in the ranking was taken by Belgium ($X), with a 10% share of total imports. It was followed by the Netherlands, with a 9.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Japan stood at +31.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+43.3% per year) and the Netherlands (+107.1% per year).

Import Prices by Country

The average import price for internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) stood at $X per ton in 2021, waning by -2.5% 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 2015 when the average import price increased by 48% against the previous year. As a result, import price attained the peak level of $X per ton. From 2016 to 2021, the average import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Thailand ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+7.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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