Spain: 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 Spain

The Spanish market for internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) declined markedly to $X in 2021, dropping by -23.1% against the previous year. Overall, consumption showed a perceptible curtailment. Consumption of peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

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

In value terms, production of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) fell to $X in 2021 estimated in export price. Over the period under review, production, however, saw a mild curtailment. The growth pace was the most rapid in 2020 when the production volume increased by 19%. Production of peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

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

Exports from Spain

In 2021, overseas shipments of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) increased by 116% to X tons, rising for the fourth consecutive year after two years of decline. Over the period under review, exports posted a buoyant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, exports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) skyrocketed to $X in 2021. In general, exports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 when exports increased by 56%. Over the period under review, the exports of attained the peak figure in 2021 and are expected to retain growth in years to come.

Exports by Country

Morocco (X tons), the United States (X tons) and Portugal (X tons) were the main destinations of exports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) from Spain, with a combined 56% share of total exports. These countries were followed by Egypt, Equatorial Guinea, Ghana, Israel, Jordan, Senegal, Belarus, China, France and Cuba, which together accounted for a further 29%.

From 2012 to 2021, the biggest increases were recorded for Senegal (with a CAGR of +125.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Portugal ($X) remains the key foreign market for internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) exports from Spain, comprising 36% of total exports. The second position in the ranking was held by the United States ($X), with a 13% share of total exports. It was followed by Morocco, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Portugal amounted to +14.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-4.7% per year) and Morocco (+7.5% per year).

Export Prices by Country

The average export price for internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) stood at $X per ton in 2021, with a decrease of -46% against the previous year. Overall, the export price showed a abrupt setback. The pace of growth appeared the most rapid in 2017 when the average export price increased by 74%. As a result, the export price attained the peak level of $X per ton. From 2018 to 2021, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was France ($X per ton), while the average price for exports to Egypt ($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 Cuba (+24.2%), while the prices for the other major destinations experienced mixed trend patterns.

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

Imports into Spain

For the fifth consecutive year, Spain recorded growth in supplies from abroad of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft), which increased by 32% to X tons in 2021. Over the period under review, total imports indicated a buoyant expansion from 2012 to 2021: its volume increased at an average annual rate of +7.8% 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 +45.5% against 2015 indices. The most prominent rate of growth was recorded in 2015 with an increase of 34%. Imports peaked in 2021 and are likely to see gradual growth in the immediate term.

In value terms, imports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) surged to $X in 2021. Overall, imports showed a remarkable increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

China (X tons), Belgium (X tons) and Japan (X tons) were the main suppliers of imports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) to Spain, with a combined 67% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Belgium (with a CAGR of +51.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), Belgium ($X) and France ($X) appeared to be the largest internal combustion engine (excl. diesel, moto vehicle and aircraft) suppliers to Spain, with a combined 66% share of total imports.

France, with a CAGR of +42.0%, recorded the highest rates of growth with regard to 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 2021, the average import price for internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) amounted to $X per ton, leveling off at the previous year. In general, the import price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 when the average import price increased by 30% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a 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 France ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (+5.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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