Portugal: Internal Combustion Engines Market 2024

Internal Combustion Engines Market Size in Portugal

In 2021, the Portuguese internal combustion engines market decreased by -2.2% to $X, falling for the second year in a row after four years of growth. Overall, the total consumption indicated a mild expansion from 2012 to 2021: its value increased at an average annual rate of +1.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -31.5% against 2019 indices. Internal combustion engines consumption peaked at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Internal Combustion Engines Exports

Exports from Portugal

Internal combustion engines exports from Portugal dropped to X units in 2021, with a decrease of -7.9% against the previous year's figure. Over the period under review, exports faced a deep contraction. The pace of growth was the most pronounced in 2017 with an increase of 50%. Over the period under review, the exports reached the peak figure at X units in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, internal combustion engines exports shrank modestly to $X in 2021. Overall, exports saw a drastic downturn. The most prominent rate of growth was recorded in 2018 when exports increased by 36%. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Spain (X units) was the main destination for internal combustion engines exports from Portugal, with a 29% share of total exports. Moreover, internal combustion engines exports to Spain exceeded the volume sent to the second major destination, Nigeria (X units), twofold. The third position in this ranking was taken by Cabo Verde (X units), with a 9.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Spain amounted to +3.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Nigeria (-7.8% per year) and Cabo Verde (+11.8% per year).

In value terms, the largest markets for internal combustion engines exported from Portugal were Spain ($X), Angola ($X) and Cabo Verde ($X), together accounting for 63% of total exports. Bolivia, Ghana, Turkey, Nigeria, Morocco, Senegal and Syrian Arab Republic lagged somewhat behind, together comprising a further 19%.

Among the main countries of destination, Bolivia, with a CAGR of +37.8%, saw 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 internal combustion engines export price stood at $X per unit in 2021, rising by 7.3% against the previous year. In general, the export price showed a measured increase. The most prominent rate of growth was recorded in 2014 when the average export price increased by 102% against the previous year. The export price peaked at $X per unit in 2015; however, from 2016 to 2021, 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 Angola ($X per unit), while the average price for exports to Nigeria ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Morocco (+13.5%), while the prices for the other major destinations experienced more modest paces of growth.

Internal Combustion Engines Imports

Imports into Portugal

In 2021, supplies from abroad of motor vehicles compression-ignition internal combustion piston engines decreased by -3.9% to X units, falling for the second year in a row after four years of growth. Over the period under review, total imports indicated a pronounced expansion from 2012 to 2021: its volume increased at an average annual rate of +4.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -31.8% against 2019 indices. The pace of growth appeared the most rapid in 2013 when imports increased by 45%. Imports peaked at X units in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, internal combustion engines imports reduced slightly to $X in 2021. Overall, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of 28% against the previous year. Over the period under review, imports reached the maximum at $X in 2019; however, from 2020 to 2021, imports failed to regain momentum.

Imports by Country

France (X units), Poland (X units) and Italy (X units) were the main suppliers of internal combustion engines imports to Portugal, together comprising 97% of total imports.

From 2012 to 2021, the biggest increases were recorded for Poland (with a CAGR of +854.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest internal combustion engines suppliers to Portugal were Poland ($X), France ($X) and Italy ($X), together accounting for 94% of total imports.

Among the main suppliers, Poland, with a CAGR of +901.0%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average internal combustion engines import price amounted to $X per unit, picking up by 2.6% against the previous year. Overall, the import price, however, recorded a noticeable curtailment. The import price peaked at $X per unit in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Germany ($X per unit), while the price for France ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Poland (+6.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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