United Kingdom: Internal Combustion Engines Market 2024

Internal Combustion Engines Market Size in the UK

The UK internal combustion engines market declined sharply to $X in 2021, with a decrease of -29.5% against the previous year. Over the period under review, consumption showed a abrupt shrinkage. Over the period under review, the market reached the peak level at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Internal Combustion Engines Production in the UK

In value terms, internal combustion engines production fell sharply to $X in 2021 estimated in export price. In general, production, however, continues to indicate a perceptible increase. The pace of growth appeared the most rapid in 2020 with an increase of 44% against the previous year. As a result, production attained the peak level of $X, and then contracted remarkably in the following year.

Internal Combustion Engines Exports

Exports from the UK

In 2021, after two years of decline, there was significant growth in overseas shipments of motor vehicles compression-ignition internal combustion piston engines, when their volume increased by 14% to X units. Overall, exports, however, saw a mild downturn. The growth pace was the most rapid in 2017 when exports increased by 18%. Over the period under review, the exports reached the peak figure at X units in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, internal combustion engines exports contracted modestly to $X in 2021. Over the period under review, exports, however, continue to indicate a noticeable setback. The most prominent rate of growth was recorded in 2017 when exports increased by 20%. Over the period under review, the exports reached the maximum at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

Turkey (X units) was the main destination for internal combustion engines exports from the UK, accounting for a 58% share of total exports. Moreover, internal combustion engines exports to Turkey exceeded the volume sent to the second major destination, Spain (X units), fourfold. Germany (X units) ranked third in terms of total exports with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Turkey stood at +43.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (-0.5% per year) and Germany (-16.7% per year).

In value terms, Turkey ($X) remains the key foreign market for motor vehicles compression-ignition internal combustion piston engines exports from the UK, comprising 63% of total exports. The second position in the ranking was taken by Spain ($X), with a 9.6% share of total exports. It was followed by Slovakia, with a 7% share.

From 2012 to 2021, the average annual growth rate of value to Turkey amounted to +33.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (-2.5% per year) and Slovakia (+117.5% per year).

Export Prices by Country

In 2021, the average internal combustion engines export price amounted to $X per unit, shrinking by -14.8% against the previous year. Over the period under review, the export price saw a mild downturn. The most prominent rate of growth was recorded in 2019 when the average export price increased by 14% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2020 to 2021, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was France ($X per unit), while the average price for exports to Belgium ($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 France (+2.8%), while the prices for the other major destinations experienced a decline.

Internal Combustion Engines Imports

Imports into the UK

In 2021, supplies from abroad of motor vehicles compression-ignition internal combustion piston engines increased by 46% to X units for the first time since 2014, thus ending a six-year declining trend. Overall, imports, however, saw a abrupt setback. Imports peaked at X units in 2014; however, from 2015 to 2021, imports failed to regain momentum.

In value terms, internal combustion engines imports soared to $X in 2021. Over the period under review, imports, however, continue to indicate a deep setback. Over the period under review, imports reached the peak figure at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

France (X units), Germany (X units) and the Netherlands (X units) were the main suppliers of internal combustion engines imports to the UK, with a combined 78% share of total imports. These countries were followed by Austria, Japan, the United States, Belgium, Italy, Spain and Poland, which together accounted for a further 20%.

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 +9.1%), while imports for the other leaders experienced a decline.

In value terms, France ($X), the Netherlands ($X) and Germany ($X) were the largest internal combustion engines suppliers to the UK, with a combined 67% share of total imports. These countries were followed by the United States, Austria, Japan, Italy, Belgium, Spain and Poland, which together accounted for a further 30%.

Belgium, with a CAGR of +5.3%, saw 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 mixed trend patterns.

Import Prices by Country

In 2021, the average internal combustion engines import price amounted to $X per unit, rising by 14% against the previous year. Overall, import price indicated a pronounced expansion from 2012 to 2021: its price increased at an average annual rate of +3.8% 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 +84.9% against 2017 indices. The most prominent rate of growth was recorded in 2020 an increase of 35% against the previous year. The import price peaked 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 the United States ($X per unit), while the price for Poland ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+17.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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