Spain: Internal Combustion Engines Market 2024

Internal Combustion Engines Market Size in Spain

The Spanish internal combustion engines market expanded to $X in 2021, growing by 2.7% against the previous year. Over the period under review, consumption continues to indicate a slight contraction. Internal combustion engines consumption peaked at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Internal Combustion Engines Production in Spain

In value terms, internal combustion engines production declined to $X in 2021 estimated in export price. In general, production showed a deep slump. The pace of growth appeared the most rapid in 2013 when the production volume increased by 38%. As a result, production attained the peak level of $X. From 2014 to 2021, production growth remained at a lower figure.

Internal Combustion Engines Exports

Exports from Spain

For the fourth year in a row, Spain recorded decline in overseas shipments of motor vehicles compression-ignition internal combustion piston engines, which decreased by -8.6% to X units in 2021. In general, exports showed a abrupt shrinkage. The growth pace was the most rapid in 2013 with an increase of 52% against the previous year. As a result, the exports reached the peak of X units. From 2014 to 2021, the growth of the exports remained at a lower figure.

In value terms, internal combustion engines exports fell to $X in 2021. Overall, exports saw a abrupt decrease. The pace of growth appeared the most rapid in 2013 with an increase of 28% against the previous year. The exports peaked at $X in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

Exports by Country

Morocco (X units) was the main destination for internal combustion engines exports from Spain, with a 58% share of total exports. Moreover, internal combustion engines exports to Morocco exceeded the volume sent to the second major destination, France (X units), threefold. The third position in this ranking was held by Turkey (X units), with an 11% share.

From 2012 to 2021, the average annual growth rate of volume to Morocco totaled +10.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (-14.0% per year) and Turkey (+0.9% per year).

In value terms, Morocco ($X) emerged as the key foreign market for motor vehicles compression-ignition internal combustion piston engines exports from Spain, comprising 58% of total exports. The second position in the ranking was taken by France ($X), with a 23% share of total exports. It was followed by Turkey, with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Morocco amounted to +13.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (-11.6% per year) and Turkey (+5.6% per year).

Export Prices by Country

The average internal combustion engines export price stood at $X per unit in 2021, approximately mirroring the previous year. Over the last nine years, it increased at an average annual rate of +2.0%. The pace of growth was the most pronounced in 2014 an increase of 25% against the previous year. Over the period under review, the average export prices hit record highs in 2021 and is expected to retain growth in the immediate term.

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 Germany ($X per unit), while the average price for exports to Malta ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Turkey (+4.6%), while the prices for the other major destinations experienced more modest paces of growth.

Internal Combustion Engines Imports

Imports into Spain

In 2021, purchases abroad of motor vehicles compression-ignition internal combustion piston engines decreased by -25.9% to X units, falling for the third year in a row after five years of growth. Overall, imports saw a deep contraction. The most prominent rate of growth was recorded in 2016 with an increase of 48%. Imports peaked at X units in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, internal combustion engines imports reduced slightly to $X in 2021. In general, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of 31% 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

Germany (X units), France (X units) and the UK (X units) were the main suppliers of internal combustion engines imports to Spain, together accounting for 85% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by France (with a CAGR of +4.0%), while imports for the other leaders experienced mixed trend patterns.

In value terms, Germany ($X), France ($X) and Italy ($X) were the largest internal combustion engines suppliers to Spain, with a combined 87% share of total imports.

Among the main suppliers, France, with a CAGR of +8.2%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average internal combustion engines import price stood at $X per unit in 2021, picking up by 32% against the previous year. Over the period under review, import price indicated a prominent increase from 2012 to 2021: its price increased at an average annual rate of +5.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, internal combustion engines import price increased by +74.7% against 2018 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was France ($X per unit), while the price for the UK ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+5.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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