Switzerland: Spark Plug Market 2024

Spark Plug Market Size in Switzerland

The Swiss spark plug market expanded remarkably to $X in 2022, increasing by 11% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +2.4% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Spark plug consumption peaked in 2022 and is likely to see steady growth in the near future.

Spark Plug Exports

Exports from Switzerland

In 2022, spark plug exports from Switzerland skyrocketed to X units, growing by 73% against the previous year's figure. In general, exports posted modest growth. Over the period under review, the exports hit record highs at X units in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, spark plug exports skyrocketed to $X in 2022. Overall, total exports indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +5.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2019 when exports increased by 60% against the previous year. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Germany (X units), France (X units) and the Philippines (X units) were the main destinations of spark plug exports from Switzerland, together comprising 63% of total exports. China, the Netherlands, the UK, Cote d'Ivoire, Italy and the United States lagged somewhat behind, together accounting for a further 32%.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +184.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) remains the key foreign market for sparking plugs exports from Switzerland, comprising 45% of total exports. The second position in the ranking was taken by France ($X), with a 14% share of total exports. It was followed by China, with a 9.2% share.

From 2012 to 2022, the average annual growth rate of value to Germany totaled +6.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+69.9% per year) and China (+175.9% per year).

Export Prices by Country

In 2022, the average spark plug export price amounted to $X per unit, falling by -18.9% against the previous year. Overall, the export price, however, recorded measured growth. The most prominent rate of growth was recorded in 2018 an increase of 86%. The export price peaked at $X per unit in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Italy ($X per unit), while the average price for exports to the Philippines ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+15.1%), while the prices for the other major destinations experienced more modest paces of growth.

Spark Plug Imports

Imports into Switzerland

For the third consecutive year, Switzerland recorded growth in supplies from abroad of sparking plugs, which increased by 12% to X units in 2022. Overall, imports, however, recorded a mild curtailment. The pace of growth was the most pronounced in 2020 with an increase of 40%. Imports peaked at X units in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, spark plug imports rose significantly to $X in 2022. The total import value increased at an average annual rate of +4.2% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2018 when imports increased by 14% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are likely to see steady growth in the near future.

Imports by Country

Germany (X units), Japan (X units) and China (X units) were the main suppliers of spark plug imports to Switzerland, together accounting for 84% of total imports.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +16.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest spark plug suppliers to Switzerland were Germany ($X), Japan ($X) and the United States ($X), with a combined 83% share of total imports. Italy, China and France lagged somewhat behind, together comprising a further 11%.

China, with a CAGR of +25.6%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average spark plug import price stood at $X per unit in 2022, almost unchanged from the previous year. In general, the import price recorded a remarkable increase. The pace of growth appeared the most rapid in 2019 when the average import price increased by 50% against the previous year. As a result, import price reached the peak level of $X per unit. From 2020 to 2022, the average import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+14.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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