Spain: Ignition Magneto Market 2024

Ignition Magneto Market Size in Spain

In 2021, after three years of growth, there was decline in the Spanish ignition magneto market, when its value decreased by -1.4% to $X. In general, consumption, however, saw a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2015 to 2021, the growth of the market failed to regain momentum.

Ignition Magneto Production in Spain

In value terms, ignition magneto production contracted to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 with an increase of 79% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2021, production growth remained at a somewhat lower figure.

Ignition Magneto Exports

Exports from Spain

In 2021, overseas shipments of ignition magnetos, magneto-dynamos and magnetic flywheels decreased by -3.3% to X units for the first time since 2018, thus ending a two-year rising trend. Over the period under review, total exports indicated a moderate expansion from 2012 to 2021: its volume increased at an average annual rate of +3.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +72.6% against 2018 indices. The growth pace was the most rapid in 2020 when exports increased by 40%. The exports peaked at X units in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

In value terms, ignition magneto exports soared to $X in 2021. In general, exports, however, showed a resilient expansion. The most prominent rate of growth was recorded in 2019 with an increase of 43%. The exports peaked in 2021 and are expected to retain growth in the immediate term.

Exports by Country

France (X units), Germany (X units) and the Netherlands (X units) were the main destinations of ignition magneto exports from Spain, with a combined 84% share of total exports. Portugal and Italy lagged somewhat behind, together accounting for a further 12%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Portugal (with a CAGR of +22.2%), while the other leaders experienced more modest paces of growth.

In value terms, France ($X), Germany ($X) and the Netherlands ($X) were the largest markets for ignition magneto exported from Spain worldwide, with a combined 83% share of total exports. These countries were followed by Italy and Portugal, which together accounted for a further 11%.

In terms of the main countries of destination, Portugal, with a CAGR of +32.1%, recorded the highest growth rate of 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

In 2021, the average ignition magneto export price amounted to $X per unit, rising by 20% against the previous year. Overall, the export price showed a buoyant expansion. The growth pace was the most rapid in 2015 when the average export price increased by 78%. Over the period under review, the average export prices attained the peak figure in 2021 and is expected to retain growth in years to come.

Average prices varied somewhat for the major external markets. In 2021, the countries with the highest prices were Italy ($X per unit) and Germany ($X per unit), while the average price for exports to the Netherlands ($X per unit) and Portugal ($X per unit) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Italy (+10.4%), while the prices for the other major destinations experienced more modest paces of growth.

Ignition Magneto Imports

Imports into Spain

In 2021, after three years of growth, there was significant decline in overseas purchases of ignition magnetos, magneto-dynamos and magnetic flywheels, when their volume decreased by -31.6% to X units. In general, imports, however, continue to indicate a noticeable expansion. The pace of growth appeared the most rapid in 2018 with an increase of 104%. Over the period under review, imports hit record highs at X units in 2020, and then contracted remarkably in the following year.

In value terms, ignition magneto imports contracted sharply to $X in 2021. Over the period under review, imports, however, showed a buoyant expansion. The growth pace was the most rapid in 2018 when imports increased by 225%. Imports peaked at $X in 2020, and then reduced remarkably in the following year.

Imports by Country

In 2021, the Czech Republic (X units) constituted the largest supplier of ignition magneto to Spain, accounting for a 60% share of total imports. Moreover, ignition magneto imports from the Czech Republic exceeded the figures recorded by the second-largest supplier, Portugal (X units), sevenfold. The Netherlands (X units) ranked third in terms of total imports with a 7.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the Czech Republic amounted to +21.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Portugal (+15.2% per year) and the Netherlands (+4.0% per year).

In value terms, the Czech Republic ($X) constituted the largest supplier of ignition magnetos, magneto-dynamos and magnetic flywheels to Spain, comprising 60% of total imports. The second position in the ranking was taken by Portugal ($X), with an 8.7% share of total imports. It was followed by the Netherlands, with a 7.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the Czech Republic stood at +24.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Portugal (+13.4% per year) and the Netherlands (+10.0% per year).

Import Prices by Country

In 2021, the average ignition magneto import price amounted to $X per unit, surging by 6.2% against the previous year. Over the period under review, import price indicated a notable expansion from 2012 to 2021: its price increased at an average annual rate of +3.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, ignition magneto import price increased by +92.0% against 2017 indices. The pace of growth appeared the most rapid in 2014 an increase of 65%. Over the period under review, average import prices hit record highs in 2021 and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sweden (+17.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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