Lithuania: Market for Equipment For Internal Combustion Engines 2025

Market Size for Equipment For Internal Combustion Engines in Lithuania

In 2022, after two years of growth, there was significant decline in the Lithuanian internal combustion engine equipment market, when its value decreased by -55.8% to $X. In general, consumption saw a deep downturn. As a result, consumption attained the peak level of $X, and then dropped rapidly in the following year.

Production of Equipment For Internal Combustion Engines in Lithuania

In value terms, internal combustion engine equipment production amounted to $X in 2022 estimated in export price. Over the period under review, production showed a deep setback. The pace of growth was the most pronounced in 2017 with an increase of 25%. Internal combustion engine equipment production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Exports of Equipment For Internal Combustion Engines

Exports from Lithuania

In 2022, the amount of equipment for internal combustion engines exported from Lithuania declined remarkably to X units, falling by -42.9% on 2021 figures. In general, exports, however, posted a buoyant increase. The pace of growth appeared the most rapid in 2016 with an increase of 84% against the previous year. Over the period under review, the exports hit record highs at X units in 2021, and then contracted rapidly in the following year.

In value terms, internal combustion engine equipment exports fell sharply to $X in 2022. Overall, exports, however, recorded moderate growth. The most prominent rate of growth was recorded in 2018 with an increase of 61%. Over the period under review, the exports attained the peak figure at $X in 2021, and then contracted rapidly in the following year.

Exports by Country

Latvia (X units), Belarus (X units) and the United Arab Emirates (X units) were the main destinations of internal combustion engine equipment exports from Lithuania, with a combined 53% share of total exports. Estonia, Poland, Kyrgyzstan, Kazakhstan and Russia lagged somewhat behind, together comprising a further 36%.

From 2012 to 2022, the biggest increases were recorded for Kyrgyzstan (with a CAGR of +155.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for internal combustion engine equipment exported from Lithuania were Latvia ($X), Belarus ($X) and the United Arab Emirates ($X), with a combined 52% share of total exports. Estonia, Poland, Kyrgyzstan, Kazakhstan and Russia lagged somewhat behind, together comprising a further 36%.

Kyrgyzstan, with a CAGR of +164.4%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average internal combustion engine equipment export price stood at $X per unit in 2022, which is down by -13.4% against the previous year. Over the period under review, the export price continues to indicate a slight decline. The most prominent rate of growth was recorded in 2015 when the average export price increased by 15%. Over the period under review, the average export prices attained the maximum at $X per unit in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Kyrgyzstan ($X per unit) and Belarus ($X per unit), while the average price for exports to Kazakhstan ($X per unit) and Russia ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Kyrgyzstan (+3.3%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Equipment For Internal Combustion Engines

Imports into Lithuania

After two years of growth, overseas purchases of equipment for internal combustion engines decreased by -57.9% to X units in 2022. Overall, imports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when imports increased by 210% against the previous year. As a result, imports reached the peak of X units, and then fell notably in the following year.

In value terms, internal combustion engine equipment imports fell sharply to $X in 2022. Over the period under review, imports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when imports increased by 175%. As a result, imports reached the peak of $X, and then declined remarkably in the following year.

Imports by Country

In 2022, Poland (X units) constituted the largest supplier of internal combustion engine equipment to Lithuania, accounting for a 42% share of total imports. Moreover, internal combustion engine equipment imports from Poland exceeded the figures recorded by the second-largest supplier, Germany (X units), twofold. Slovenia (X units) ranked third in terms of total imports with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Poland stood at +5.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-6.0% per year) and Slovenia (+168.9% per year).

In value terms, Poland ($X) constituted the largest supplier of equipment for internal combustion engines to Lithuania, comprising 42% of total imports. The second position in the ranking was taken by Germany ($X), with an 18% share of total imports. It was followed by Slovenia, with a 10% share.

From 2012 to 2022, the average annual growth rate of value from Poland stood at +5.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-5.6% per year) and Slovenia (+184.0% per year).

Import Prices by Country

The average internal combustion engine equipment import price stood at $X per unit in 2022, increasing by 13% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 an increase of 23% against the previous year. As a result, import price attained the peak level of $X per unit. From 2020 to 2022, the average import prices remained at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Slovenia ($X per unit) and Finland ($X per unit), while the price for Italy ($X per unit) and the Netherlands ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Slovenia (+5.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform