Luxembourg: 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 Luxembourg

The Luxembourg market for diesel engines (other than for motor vehicles and aircraft) shrank notably to $X in 2022, with a decrease of -34.6% against the previous year. Overall, consumption, however, showed modest growth. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market remained at a somewhat lower figure.

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

In value terms, production of diesel engines (other than for motor vehicles and aircraft) contracted to $X in 2022 estimated in export price. Overall, production, however, enjoyed a prominent expansion. The pace of growth appeared the most rapid in 2015 when the production volume increased by 157%. Production of peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

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

Exports from Luxembourg

In 2022, the amount of diesel engines (other than for motor vehicles and aircraft) exported from Luxembourg skyrocketed to X units, rising by 194% against the year before. In general, exports showed a buoyant increase. The most prominent rate of growth was recorded in 2020 with an increase of 593% against the previous year. As a result, the exports attained the peak of X units. From 2021 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) shrank remarkably to $X in 2022. Overall, exports showed a measured expansion. The most prominent rate of growth was recorded in 2018 with an increase of 401% against the previous year. Over the period under review, the exports of hit record highs at $X in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

Exports by Country

Belgium (X units) was the main destination for exports of diesel engines (other than for motor vehicles and aircraft) from Luxembourg, accounting for a 89% share of total exports. Moreover, exports of diesel engines (other than for motor vehicles and aircraft) to Belgium exceeded the volume sent to the second major destination, Germany (X units), more than tenfold. The third position in this ranking was held by the United States (X units), with a 2.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Belgium amounted to +23.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (-10.4% per year) and the United States (0.0% per year).

In value terms, the largest markets for diesel engines (other than for motor vehicles and aircraft) exported from Luxembourg were Belgium ($X), Germany ($X) and the UK ($X), together accounting for 98% of total exports.

In terms of the main countries of destination, Belgium, with a CAGR of +31.2%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average export price for diesel engines (other than for motor vehicles and aircraft) stood at $X per unit in 2022, which is down by -78.5% against the previous year. Overall, the export price saw a abrupt curtailment. The pace of growth appeared the most rapid in 2015 an increase of 412%. As a result, the export price attained the peak level of $X per unit. From 2016 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per unit), while the average price for exports to the United Arab Emirates ($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 Oman (+31.1%), 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 Luxembourg

In 2022, overseas purchases of diesel engines (other than for motor vehicles and aircraft) decreased by -56.9% to X units for the first time since 2016, thus ending a five-year rising trend. Overall, imports recorded a deep contraction. The most prominent rate of growth was recorded in 2018 with an increase of 83%. Over the period under review, imports of reached the maximum at X units in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, imports of diesel engines (other than for motor vehicles and aircraft) dropped sharply to $X in 2022. Over the period under review, imports saw a drastic downturn. The most prominent rate of growth was recorded in 2020 when imports increased by 186%. Over the period under review, imports of reached the peak figure at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Germany (X units) constituted the largest supplier of diesel engines (other than for motor vehicles and aircraft) to Luxembourg, accounting for a 58% share of total imports. Moreover, imports of diesel engines (other than for motor vehicles and aircraft) from Germany exceeded the figures recorded by the second-largest supplier, Belgium (X units), threefold. France (X units) ranked third in terms of total imports with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Germany totaled +3.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+8.3% per year) and France (+23.1% per year).

In value terms, Germany ($X) constituted the largest supplier of diesel engines (other than for motor vehicles and aircraft) to Luxembourg, comprising 43% of total imports. The second position in the ranking was held by France ($X), with a 14% share of total imports. It was followed by Belgium, with a 6.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Germany totaled -16.2%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+22.2% per year) and Belgium (+1.2% per year).

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, with an increase of 22% against the previous year. Over the period under review, the import price, however, continues to indicate a mild descent. The pace of growth appeared the most rapid in 2017 when the average import price increased by 119% against the previous year. As a result, import price reached 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 France ($X per unit), while the price for Italy ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+33.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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