Sweden: 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 Sweden

The Swedish market for internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) rose markedly to $X in 2021, picking up by 7.4% against the previous year. The market value increased at an average annual rate of +2.0% from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The most prominent rate of growth was recorded in 2020 with an increase of 8.7%. Over the period under review, the market reached the maximum level in 2021 and is expected to retain growth in the immediate term.

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

In value terms, production of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) stood at $X in 2021 estimated in export price. Over the period under review, production continues to indicate a sharp curtailment. The growth pace was the most rapid in 2015 when the production volume increased by 77% against the previous year. Production of peaked at $X in 2013; however, from 2014 to 2021, production stood at a somewhat lower figure.

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

Exports from Sweden

In 2021, shipments abroad of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) was finally on the rise to reach X tons after two years of decline. Over the period under review, exports, however, showed a deep slump. Over the period under review, the exports of attained the maximum at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, exports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) surged to $X in 2021. Overall, exports, however, recorded a slight downturn. Over the period under review, the exports of hit record highs at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

Italy (X tons), Norway (X tons) and Poland (X tons) were the main destinations of exports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) from Sweden, with a combined 61% share of total exports. These countries were followed by Germany, the UK, Finland, Estonia, the United Arab Emirates, Denmark, Switzerland, the United States, Spain and South Africa, which together accounted for a further 29%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by South Africa (with a CAGR of +24.1%), while the other leaders experienced more modest paces of growth.

In value terms, Poland ($X), Norway ($X) and Italy ($X) constituted the largest markets for internal combustion engine (excl. diesel, moto vehicle and aircraft) exported from Sweden worldwide, together comprising 60% of total exports. Germany, the UK, the United States, Denmark, Estonia, Finland, South Africa, the United Arab Emirates, Spain and Switzerland lagged somewhat behind, together accounting for a further 31%.

In terms of the main countries of destination, South Africa, with a CAGR of +37.0%, recorded the highest rates of growth with regard to 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

The average export price for internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) stood at $X per ton in 2021, declining by -11.5% against the previous year. Overall, export price indicated a prominent increase from 2012 to 2021: its price increased at an average annual rate of +7.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, export price for internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) increased by +19.7% against 2018 indices. The pace of growth was the most pronounced in 2014 an increase of 37%. The export price peaked at $X per ton in 2020, and then declined in the following year.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Switzerland ($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 the United Arab Emirates (+36.7%), while the prices for the other major destinations experienced more modest paces of growth.

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

Imports into Sweden

In 2021, overseas purchases of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) increased by 15% to X tons, rising for the second consecutive year after two years of decline. The total import volume increased at an average annual rate of +1.7% over the period from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue 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. The total import value increased at an average annual rate of +3.8% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Belgium (X tons), Germany (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 Sweden, with a combined 72% share of total imports. These countries were followed by the United States, China, the Netherlands, France and Norway, which together accounted for a further 24%.

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 +17.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest internal combustion engine (excl. diesel, moto vehicle and aircraft) suppliers to Sweden were Belgium ($X), Germany ($X) and Japan ($X), with a combined 78% share of total imports. The United States, China, France, the Netherlands and Norway lagged somewhat behind, together accounting for a further 16%.

In terms of the main suppliers, France, with a CAGR of +19.6%, 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

The average import price for internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) stood at $X per ton in 2021, with an increase of 6.5% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.1%. The growth pace was the most rapid in 2013 when the average import price increased by 10% against the previous year. Over the period under review, average import prices attained the maximum in 2021 and is expected to retain growth in the near future.

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

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :