Slovakia: 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 Slovakia

In 2021, the Slovak market for internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) increased by 26% to $X, rising for the second year in a row after two years of decline. Over the period under review, the total consumption indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +7.8% 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 increased by +54.0% against 2019 indices. Over the period under review, the market reached the maximum level at $X in 2017; however, from 2018 to 2021, consumption failed to regain momentum.

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

Exports from Slovakia

In 2021, overseas shipments of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) increased by 298% to X tons for the first time since 2017, thus ending a three-year declining trend. Over the period under review, exports, however, faced a deep downturn. Over the period under review, the exports of attained the maximum at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, exports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) soared to $X in 2021. In general, exports, however, faced a abrupt descent. Over the period under review, the exports of attained the peak figure at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Belarus (X tons) was the main destination for exports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) from Slovakia, with a 69% share of total exports. Moreover, exports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) to Belarus exceeded the volume sent to the second major destination, the Czech Republic (X tons), sixfold. Bosnia and Herzegovina (X tons) ranked third in terms of total exports with a 6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Belarus totaled +2,016.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Czech Republic (+22.9% per year) and Bosnia and Herzegovina (+2.5% per year).

In value terms, Belarus ($X), the Czech Republic ($X) and Germany ($X) were the largest markets for internal combustion engine (excl. diesel, moto vehicle and aircraft) exported from Slovakia worldwide, with a combined 83% share of total exports.

Belarus, with a CAGR of +1,952.9%, recorded 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

In 2021, the average export price for internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) amounted to $X per ton, with an increase of 3.8% against the previous year. Over the period under review, the export price continues to indicate a buoyant increase. The most prominent rate of growth was recorded in 2018 an increase of 194% against the previous year. The export price peaked in 2021 and is likely to continue growth in years to come.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was the Czech Republic ($X per ton), while the average price for exports to Bosnia and Herzegovina ($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 (+25.3%), while the prices for the other major destinations experienced more modest paces of growth.

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

Imports into Slovakia

In 2021, purchases abroad of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) increased by 27% to X tons, rising for the second year in a row after four years of decline. Overall, total imports indicated a buoyant increase from 2012 to 2021: its volume increased at an average annual rate of +5.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +53.1% against 2019 indices. The pace of growth appeared the most rapid in 2014 with an increase of 48% against the previous year. Imports peaked at X tons in 2015; however, from 2016 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) soared to $X in 2021. In general, total imports indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +7.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +54.4% against 2019 indices. The most prominent rate of growth was recorded in 2014 with an increase of 41% against the previous year. Imports peaked at $X in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest internal combustion engine (excl. diesel, moto vehicle and aircraft) supplier to Slovakia, with a 69% share of total imports. Moreover, imports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) from China exceeded the figures recorded by the second-largest supplier, Belgium (X tons), threefold. The United States (X tons) ranked third in terms of total imports with a 6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at +17.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+14.4% per year) and the United States (-15.1% per year).

In value terms, China ($X) constituted the largest supplier of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) to Slovakia, comprising 59% of total imports. The second position in the ranking was taken by Belgium ($X), with a 21% share of total imports. It was followed by the United States, with an 8.3% share.

From 2012 to 2021, the average annual growth rate of value from China totaled +21.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+16.7% per year) and the United States (-10.8% per year).

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, flattening at the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.8%. The pace of growth appeared the most rapid in 2013 an increase of 13%. The import price peaked at $X per ton in 2017; however, from 2018 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+5.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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