Ireland: Internal Combustion Engines Market 2024

Internal Combustion Engines Market Size in Ireland

The Irish internal combustion engines market soared to $X in 2021, picking up by 35% 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, consumption saw a strong expansion. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Internal Combustion Engines Exports

Exports from Ireland

Internal combustion engines exports from Ireland skyrocketed to X units in 2021, growing by 257% against 2020. Over the period under review, exports continue to indicate significant growth. The most prominent rate of growth was recorded in 2017 with an increase of 782% against the previous year. Over the period under review, the exports reached the peak figure in 2021 and are likely to see gradual growth in years to come.

In value terms, internal combustion engines exports skyrocketed to $X in 2021. Overall, exports saw perceptible growth. The pace of growth was the most pronounced in 2017 when exports increased by 909% against the previous year. The exports peaked in 2021 and are likely to see steady growth in the near future.

Exports by Country

The UK (X units) was the main destination for internal combustion engines exports from Ireland, with a 49% share of total exports. Moreover, internal combustion engines exports to the UK exceeded the volume sent to the second major destination, South Africa (X units), twofold. Belarus (X units) ranked third in terms of total exports with an 11% share.

From 2012 to 2021, the average annual growth rate of volume to the UK totaled +25.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Africa (-38.3% per year) and Belarus (0.0% per year).

In value terms, the UK ($X) remains the key foreign market for motor vehicles compression-ignition internal combustion piston engines exports from Ireland, comprising 66% of total exports. The second position in the ranking was taken by Poland ($X), with a 12% share of total exports. It was followed by South Africa, with a 6.2% share.

From 2012 to 2021, the average annual growth rate of value to the UK amounted to +11.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Poland (+3.6% per year) and South Africa (-27.6% per year).

Export Prices by Country

In 2021, the average internal combustion engines export price amounted to $X per unit, dropping by -55.5% against the previous year. Overall, the export price continues to indicate a abrupt downturn. The most prominent rate of growth was recorded in 2020 an increase of 425% against the previous year. The export price peaked at $X per unit in 2017; however, from 2018 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, amid the top suppliers, the country with the highest price was Germany ($X per unit), while the average price for exports to Belarus ($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 South Africa (+17.4%), while the prices for the other major destinations experienced a decline.

Internal Combustion Engines Imports

Imports into Ireland

In 2021, imports of motor vehicles compression-ignition internal combustion piston engines into Ireland surged to X units, growing by 43% on the previous year. In general, imports enjoyed a resilient increase. The most prominent rate of growth was recorded in 2017 with an increase of 144% against the previous year. Imports peaked at X units in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, internal combustion engines imports soared to $X in 2021. Over the period under review, imports posted a temperate expansion. The most prominent rate of growth was recorded in 2017 with an increase of 96% against the previous year. Imports peaked at $X in 2019; however, from 2020 to 2021, imports failed to regain momentum.

Imports by Country

Italy (X units), the UK (X units) and Pakistan (X units) were the main suppliers of internal combustion engines imports to Ireland, with a combined 89% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Italy (with a CAGR of +104.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X) constituted the largest supplier of motor vehicles compression-ignition internal combustion piston engines to Ireland, comprising 60% of total imports. The second position in the ranking was held by the UK ($X), with a 25% share of total imports. It was followed by Germany, with a 3.1% share.

From 2012 to 2021, the average annual growth rate of value from Italy amounted to +94.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (-8.2% per year) and Germany (-8.2% per year).

Import Prices by Country

The average internal combustion engines import price stood at $X per unit in 2021, with an increase of 3.9% against the previous year. In general, the import price, however, showed a abrupt slump. The most prominent rate of growth was recorded in 2020 an increase of 53%. Over the period under review, average import prices hit record highs at $X per unit in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+6.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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