Luxembourg: 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 Luxembourg

The Luxembourg market for internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) soared to $X in 2021, surging by 23% against the previous year. The market value increased at an average annual rate of +1.1% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

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

In value terms, production of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) soared to $X in 2021 estimated in export price. In general, production, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the production volume increased by 50% against the previous year. Over the period under review, production of reached the maximum level at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

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

Exports from Luxembourg

In 2021, approx. X tons of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) were exported from Luxembourg; which is down by -34% on the previous year's figure. In general, exports recorded a drastic downturn. The growth pace was the most rapid in 2018 when exports increased by 1,340%. As a result, the exports reached the peak of X tons. From 2019 to 2021, the growth of the exports of failed to regain momentum.

In value terms, exports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) shrank notably to $X in 2021. Over the period under review, exports continue to indicate a abrupt decrease. The growth pace was the most rapid in 2018 with an increase of 1,614% against the previous year. As a result, the exports reached the peak of $X. From 2019 to 2021, the growth of the exports of remained at a lower figure.

Exports by Country

Switzerland (X tons) was the main destination for exports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) from Luxembourg, accounting for a 87% share of total exports. Moreover, exports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) to Switzerland exceeded the volume sent to the second major destination, France (X kg), eightfold.

From 2012 to 2021, the average annual growth rate of volume to Switzerland totaled +1.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (-4.5% per year) and Belgium (-36.7% per year).

In value terms, Switzerland ($X) remains the key foreign market for internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) exports from Luxembourg, comprising 89% of total exports. The second position in the ranking was taken by France ($X), with a 7.5% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Switzerland amounted to -1.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (-19.4% per year) and Belgium (-34.7% per year).

Export Prices by Country

In 2021, the average export price for internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) amounted to $X per ton, increasing by 8.3% against the previous year. Overall, the export price, however, showed a perceptible shrinkage. The pace of growth was the most pronounced in 2019 when the average export price increased by 22%. As a result, the export price attained the peak level of $X per ton. From 2020 to 2021, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Belgium ($X per ton), while the average price for exports to France ($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 Germany (+6.7%), while the prices for the other major destinations experienced mixed trend patterns.

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

Imports into Luxembourg

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. Overall, imports saw perceptible growth. The pace of growth was the most pronounced in 2014 with an increase of 108%. Imports peaked at X tons in 2016; however, from 2017 to 2021, imports remained at a lower figure.

In value terms, imports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) skyrocketed to $X in 2021. In general, imports enjoyed a perceptible increase. The most prominent rate of growth was recorded in 2014 with an increase of 136% against the previous year. Over the period under review, imports of reached the peak figure at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

The Netherlands (X tons), Switzerland (X tons) and Germany (X tons) were the main suppliers of imports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) to Luxembourg, together comprising 83% of total imports. Belgium and Spain lagged somewhat behind, together accounting for a further 14%.

From 2012 to 2021, the biggest increases were recorded for Spain (with a CAGR of +151.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest internal combustion engine (excl. diesel, moto vehicle and aircraft) suppliers to Luxembourg were Switzerland ($X), the Netherlands ($X) and Germany ($X), with a combined 90% share of total imports.

The Netherlands, with a CAGR of +58.2%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

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, with an increase of 41% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Switzerland (+6.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :