Spain: 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 Spain

The Spanish market for diesel engines (other than for motor vehicles and aircraft) contracted markedly to $X in 2022, dropping by -15.4% against the previous year. Overall, consumption saw a perceptible curtailment. As a result, consumption attained the peak level of $X. From 2016 to 2022, the growth of the market failed to regain momentum.

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

In value terms, production of diesel engines (other than for motor vehicles and aircraft) reduced dramatically to $X in 2022 estimated in export price. Over the period under review, production faced a deep contraction. Over the period under review, production of reached the peak level at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

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

Exports from Spain

For the third year in a row, Spain recorded growth in shipments abroad of diesel engines (other than for motor vehicles and aircraft), which increased by 57% to X units in 2022. Over the period under review, exports saw a remarkable increase. The growth pace was the most rapid in 2015 when exports increased by 87% against the previous year. Over the period under review, the exports of hit record highs in 2022 and are likely to see steady growth in years to come.

In value terms, exports of diesel engines (other than for motor vehicles and aircraft) surged to $X in 2022. Overall, exports recorded perceptible growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Paraguay (X units) was the main destination for exports of diesel engines (other than for motor vehicles and aircraft) from Spain, accounting for a 35% share of total exports. Moreover, exports of diesel engines (other than for motor vehicles and aircraft) to Paraguay exceeded the volume sent to the second major destination, the United States (X units), threefold. The third position in this ranking was held by Morocco (X units), with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Paraguay totaled +154.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+74.2% per year) and Morocco (+14.3% per year).

In value terms, the United States ($X) emerged as the key foreign market for diesel engines (other than for motor vehicles and aircraft) exports from Spain, comprising 27% of total exports. The second position in the ranking was held by Saudi Arabia ($X), with a 9.9% share of total exports. It was followed by Paraguay, with a 9.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States amounted to +59.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (+70.5% per year) and Paraguay (+113.5% per year).

Export Prices by Country

In 2022, the average export price for diesel engines (other than for motor vehicles and aircraft) amounted to $X per unit, surging by 2.1% against the previous year. In general, the export price, however, showed a abrupt setback. The growth pace was the most rapid in 2014 when the average export price increased by 60% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2015 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Saudi Arabia ($X per unit), while the average price for exports to Nigeria ($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 China (+73.4%), while the prices for the other major destinations experienced mixed trend patterns.

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

Imports into Spain

In 2022, purchases abroad of diesel engines (other than for motor vehicles and aircraft) increased by 8.5% to X units for the first time since 2019, thus ending a two-year declining trend. Over the period under review, imports posted a prominent expansion. The pace of growth appeared the most rapid in 2013 when imports increased by 63% against the previous year. Over the period under review, imports of attained the maximum at X units in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

In value terms, imports of diesel engines (other than for motor vehicles and aircraft) skyrocketed to $X in 2022. In general, total imports indicated a measured expansion from 2012 to 2022: its value increased at an average annual rate of +2.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +30.7% against 2020 indices. The most prominent rate of growth was recorded in 2015 with an increase of 57% against the previous year. As a result, imports attained the peak of $X. From 2016 to 2022, the growth of imports of failed to regain momentum.

Imports by Country

Italy (X units), the UK (X units) and Japan (X units) were the main suppliers of imports of diesel engines (other than for motor vehicles and aircraft) to Spain, with a combined 52% share of total imports. France, Germany, China, the Netherlands, the United States and Austria lagged somewhat behind, together comprising a further 41%.

From 2012 to 2022, the biggest increases were recorded for Austria (with a CAGR of +51.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X), Japan ($X) and Germany ($X) were the largest diesel engines (other than for motor vehicles and aircraft) suppliers to Spain, together comprising 41% of total imports. The Netherlands, the United States, France, Austria, the UK and China lagged somewhat behind, together accounting for a further 39%.

In terms of the main suppliers, Austria, with a CAGR of +58.1%, recorded the highest growth rate of 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 2022, the average import price for diesel engines (other than for motor vehicles and aircraft) amounted to $X per unit, increasing by 10% against the previous year. In general, the import price, however, showed a perceptible contraction. The growth pace was the most rapid in 2015 an increase of 18%. The import price peaked at $X per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

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 Austria ($X per unit), while the price for the UK ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Austria (+4.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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