Portugal: 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 Portugal

The Portuguese market for diesel engines (other than for motor vehicles and aircraft) soared to $X in 2022, increasing by 4,455% against the previous year. In general, consumption continues to indicate significant growth. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

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

In value terms, production of diesel engines (other than for motor vehicles and aircraft) totaled $X in 2022 estimated in export price. Over the period under review, production saw a relatively flat trend pattern. Production of peaked in 2022 and is likely to see steady growth in years to come.

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

Exports from Portugal

Exports of diesel engines (other than for motor vehicles and aircraft) from Portugal fell dramatically to X units in 2022, waning by -22.8% compared with the previous year's figure. In general, exports continue to indicate a mild contraction. The pace of growth appeared the most rapid in 2021 when exports increased by 50%. Over the period under review, the exports of hit record highs at X units in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, exports of diesel engines (other than for motor vehicles and aircraft) declined slightly to $X in 2022. Overall, exports showed a pronounced reduction. The pace of growth appeared the most rapid in 2016 when exports increased by 60% against the previous year. Over the period under review, the exports of attained the maximum at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

Angola (X units), Cabo Verde (X units) and Bolivia (X units) were the main destinations of exports of diesel engines (other than for motor vehicles and aircraft) from Portugal, together comprising 65% of total exports. Sao Tome and Principe, Syrian Arab Republic, Guinea-Bissau, Turkey, Morocco, Algeria, Mozambique, Spain and Nigeria lagged somewhat behind, together accounting for a further 26%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Syrian Arab Republic (with a CAGR of +70.6%), while the other leaders experienced more modest paces of growth.

In value terms, Angola ($X) remains the key foreign market for diesel engines (other than for motor vehicles and aircraft) exports from Portugal, comprising 49% of total exports. The second position in the ranking was taken by Cabo Verde ($X), with an 8.3% share of total exports. It was followed by Bolivia, with a 4.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Angola totaled -4.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cabo Verde (+2.9% per year) and Bolivia (+19.8% per year).

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, surging by 25% against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 when the average export price increased by 42%. The export price peaked at $X per unit in 2018; however, from 2019 to 2022, the 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 Mozambique ($X per unit), while the average price for exports to Morocco ($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 Equatorial Guinea (+18.0%), 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 Portugal

For the third year in a row, Portugal recorded growth in purchases abroad of diesel engines (other than for motor vehicles and aircraft), which increased by 14% to X units in 2022. Over the period under review, imports saw strong growth. The most prominent rate of growth was recorded in 2017 with an increase of 193% against the previous year. Imports peaked at X units in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, imports of diesel engines (other than for motor vehicles and aircraft) surged to $X in 2022. In general, imports continue to indicate a prominent increase. The pace of growth was the most pronounced in 2017 when imports increased by 122%. Imports peaked in 2022 and are likely to see gradual growth in years to come.

Imports by Country

In 2022, China (X units) constituted the largest diesel engines (other than for motor vehicles and aircraft) supplier to Portugal, with a 44% share of total imports. Moreover, imports of diesel engines (other than for motor vehicles and aircraft) from China exceeded the figures recorded by the second-largest supplier, the UK (X units), threefold. The third position in this ranking was taken by Spain (X units), with a 15% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled +76.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (+14.0% per year) and Spain (+0.1% per year).

In value terms, the largest diesel engines (other than for motor vehicles and aircraft) suppliers to Portugal were China ($X), France ($X) and Spain ($X), with a combined 73% share of total imports.

China, with a CAGR of +98.1%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average import price for diesel engines (other than for motor vehicles and aircraft) amounted to $X per unit, increasing by 15% against the previous year. Overall, import price indicated tangible growth from 2012 to 2022: its price increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, import price for diesel engines (other than for motor vehicles and aircraft) decreased by -17.7% against 2020 indices. The pace of growth appeared the most rapid in 2015 an increase of 54%. Over the period under review, average import prices hit record highs at $X per unit in 2020; however, from 2021 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+17.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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