Spain: Motor Vehicle Engine Market 2024

Motor Vehicle Engine Market Size in Spain

In 2021, after five years of growth, there was decline in the Spanish motor vehicle engine market, when its value decreased by -1.4% to $X. In general, consumption, however, recorded a resilient expansion. Over the period under review, the market hit record highs at $X in 2020, and then reduced slightly in the following year.

Motor Vehicle Engine Production in Spain

In value terms, motor vehicle engine production totaled $X in 2021 estimated in export price. Overall, production saw prominent growth. The most prominent rate of growth was recorded in 2016 when the production volume increased by 130%. Motor vehicle engine production peaked at $X in 2019; afterwards, it flattened through to 2021.

Motor Vehicle Engine Exports

Exports from Spain

In 2021, overseas shipments of motor vehicle engines (spark-ignition) decreased by -9.1% to X tons, falling for the second year in a row after two years of growth. Overall, exports showed a deep setback. The pace of growth was the most pronounced in 2019 with an increase of 43% against the previous year. The exports peaked at X tons in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

In value terms, motor vehicle engine exports reduced slightly to $X in 2021. In general, exports showed a noticeable slump. The most prominent rate of growth was recorded in 2018 when exports increased by 42%. Over the period under review, the exports attained the peak figure at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

Canada (X tons), the United States (X tons) and Morocco (X tons) were the main destinations of motor vehicle engine exports from Spain, with a combined 67% share of total exports. These countries were followed by Turkey, Russia, Mexico, France, Germany, Romania, the UK and Belgium, which together accounted for a further 28%.

From 2012 to 2021, the biggest increases were recorded for Turkey (with a CAGR of +40.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Morocco ($X), Canada ($X) and the United States ($X) were the largest markets for motor vehicle engine exported from Spain worldwide, together accounting for 67% of total exports. These countries were followed by Turkey, Russia, France, Mexico, Germany, Romania, the UK and Belgium, which together accounted for a further 30%.

Turkey, with a CAGR of +58.9%, 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 motor vehicle engine export price amounted to $X per ton, growing by 8.6% against the previous year. Over the last nine years, it increased at an average annual rate of +3.1%. The most prominent rate of growth was recorded in 2018 when the average export price increased by 15%. The export price peaked in 2021 and is expected to retain growth in the near future.

Prices varied noticeably country of destination: the country with the highest price was Morocco ($X per ton), while the average price for exports to Germany ($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 Morocco (+16.4%), while the prices for the other major destinations experienced more modest paces of growth.

Motor Vehicle Engine Imports

Imports into Spain

In 2021, after three years of growth, there was significant decline in purchases abroad of motor vehicle engines (spark-ignition), when their volume decreased by -10.2% to X tons. The total import volume increased at an average annual rate of +2.6% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 with an increase of 46% against the previous year. Over the period under review, imports attained the maximum at X tons in 2014; however, from 2015 to 2021, imports remained at a lower figure.

In value terms, motor vehicle engine imports shrank to $X in 2021. The total import value increased at an average annual rate of +4.7% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when imports increased by 63%. Over the period under review, imports reached the peak figure at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Germany (X tons) constituted the largest supplier of motor vehicle engine to Spain, accounting for a 46% share of total imports. Moreover, motor vehicle engine imports from Germany exceeded the figures recorded by the second-largest supplier, Hungary (X tons), threefold. Mexico (X tons) ranked third in terms of total imports with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Germany stood at +22.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Hungary (-4.5% per year) and Mexico (+16.3% per year).

In value terms, Germany ($X) constituted the largest supplier of motor vehicle engines (spark-ignition) to Spain, comprising 52% of total imports. The second position in the ranking was taken by Hungary ($X), with a 16% share of total imports. It was followed by Turkey, with a 6.1% share.

From 2012 to 2021, the average annual growth rate of value from Germany amounted to +25.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Hungary (-4.4% per year) and Turkey (+211.3% per year).

Import Prices by Country

The average motor vehicle engine import price stood at $X per ton in 2021, increasing by 2% against the previous year. Over the last nine-year period, it increased at an average annual rate of +2.0%. The most prominent rate of growth was recorded in 2019 when the average import price increased by 13%. As a result, import price attained the peak level of $X per ton. From 2020 to 2021, the average import prices remained at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Austria (+24.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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