Italy: Market for Diesel Engines (Other Than For Motor Vehicles And Aircraft) 2024

Market Size for Diesel Engines (Other Than For Motor Vehicles And Aircraft) in Italy

The Italian market for diesel engines (other than for motor vehicles and aircraft) fell sharply to $X in 2022, waning by -53% against the previous year. Over the period under review, consumption, however, posted a buoyant expansion. Over the period under review, the market attained the maximum level at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Production of Diesel Engines (Other Than For Motor Vehicles And Aircraft) in Italy

In value terms, production of diesel engines (other than for motor vehicles and aircraft) fell remarkably to $X in 2022 estimated in export price. Over the period under review, production saw a deep setback. The most prominent rate of growth was recorded in 2020 with an increase of 59% against the previous year. As a result, production attained the peak level of $X. From 2021 to 2022, production of growth remained at a somewhat lower figure.

Exports of Diesel Engines (Other Than For Motor Vehicles And Aircraft)

Exports from Italy

After two years of growth, shipments abroad of diesel engines (other than for motor vehicles and aircraft) decreased by -4.4% to X units in 2022. Overall, exports saw a perceptible contraction. The most prominent rate of growth was recorded in 2016 when exports increased by 21% against the previous year. As a result, the exports reached the peak of X units. From 2017 to 2022, the growth of the exports of failed to regain momentum.

In value terms, exports of diesel engines (other than for motor vehicles and aircraft) stood at $X in 2022. Over the period under review, exports showed a perceptible downturn. The most prominent rate of growth was recorded in 2021 when exports increased by 36% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

The United States (X units) was the main destination for exports of diesel engines (other than for motor vehicles and aircraft) from Italy, accounting for a 31% share of total exports. Moreover, exports of diesel engines (other than for motor vehicles and aircraft) to the United States exceeded the volume sent to the second major destination, Japan (X units), threefold. France (X units) ranked third in terms of total exports with a 9.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+7.9% per year) and France (+3.2% per year).

In value terms, the United States ($X) remains the key foreign market for diesel engines (other than for motor vehicles and aircraft) exports from Italy, comprising 31% of total exports. The second position in the ranking was taken by France ($X), with a 6.9% share of total exports. It was followed by the UK, with a 5.5% share.

From 2012 to 2022, the average annual growth rate of value to the United States stood at +3.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+2.5% per year) and the UK (+1.8% per year).

Export Prices by Country

In 2022, the average export price for diesel engines (other than for motor vehicles and aircraft) amounted to $X per unit, surging by 5.4% against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the average export price increased by 44% against the previous year. The export price peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Switzerland ($X per unit), while the average price for exports to Jordan ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Singapore (+2.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Diesel Engines (Other Than For Motor Vehicles And Aircraft)

Imports into Italy

In 2022, imports of diesel engines (other than for motor vehicles and aircraft) into Italy shrank to X units, declining by -4.2% against the year before. Overall, total imports indicated a strong expansion from 2012 to 2022: its volume increased at an average annual rate of +5.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +38.5% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 45% against the previous year. As a result, imports attained the peak of X units, and then reduced modestly in the following year.

In value terms, imports of diesel engines (other than for motor vehicles and aircraft) rose notably to $X in 2022. In general, total imports indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +5.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +42.1% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 27%. Over the period under review, imports of hit record highs in 2022 and are likely to see gradual growth in the near future.

Imports by Country

The UK (X units), France (X units) and Japan (X units) were the main suppliers of imports of diesel engines (other than for motor vehicles and aircraft) to Italy, together comprising 63% of total imports. China, Germany, Sweden, South Korea, Finland, Slovakia and the Netherlands lagged somewhat behind, together comprising a further 32%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Sweden (with a CAGR of +25.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), France ($X) and the UK ($X) constituted the largest diesel engines (other than for motor vehicles and aircraft) suppliers to Italy, with a combined 60% share of total imports. Sweden, Japan, Finland, China, South Korea, the Netherlands and Slovakia lagged somewhat behind, together accounting for a further 30%.

China, with a CAGR of +23.6%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for diesel engines (other than for motor vehicles and aircraft) stood at $X per unit in 2022, increasing by 17% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 an increase of 47%. As a result, import price attained the peak level of $X per unit. From 2018 to 2022, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per unit), while the price for Slovakia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+13.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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