Belgium: Market for Equipment For Internal Combustion Engines 2024

Market Size for Equipment For Internal Combustion Engines in Belgium

The Belgian internal combustion engine equipment market declined modestly to $X in 2022, with a decrease of X% against the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. Internal combustion engine equipment consumption peaked at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Production of Equipment For Internal Combustion Engines in Belgium

In value terms, internal combustion engine equipment production dropped slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2018 with an increase of X%. As a result, production reached the peak level of $X. From 2019 to 2022, production growth remained at a somewhat lower figure.

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Exports of Equipment For Internal Combustion Engines

Exports from Belgium

In 2022, overseas shipments of equipment for internal combustion engines decreased by X% to X units, falling for the fourth year in a row after four years of growth. In general, exports showed a abrupt shrinkage. The pace of growth was the most pronounced in 2015 with an increase of X%. Over the period under review, the exports attained the peak figure at X units in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, internal combustion engine equipment exports contracted to $X in 2022. Overall, exports showed a relatively flat trend pattern. The growth pace was the most rapid in 2015 with an increase of X%. Over the period under review, the exports attained the maximum at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

The Netherlands (X units), France (X units) and Germany (X units) were the main destinations of internal combustion engine equipment exports from Belgium, together comprising X% of total exports. Spain, the UK, Luxembourg, Italy, Poland, Sweden, Slovenia, the United States and Turkey lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Slovenia (with a CAGR of X%), while the other leaders experienced a decline.

In value terms, France ($X), the Netherlands ($X) and Spain ($X) were the largest markets for internal combustion engine equipment exported from Belgium worldwide, together comprising X% of total exports. Germany, Italy, the UK, Poland, Sweden, the United States, Luxembourg, Turkey and Slovenia lagged somewhat behind, together comprising a further X%.

Among the main countries of destination, the United States, with a CAGR of X%, saw 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

In 2022, the average internal combustion engine equipment export price amounted to $X per unit, with an increase of X% against the previous year. Overall, the export price continues to indicate resilient growth. The most prominent rate of growth was recorded in 2019 when the average export price increased by X% against the previous year. Over the period under review, the average export prices reached the maximum in 2022 and is likely to see gradual growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Italy ($X per unit), while the average price for exports to Slovenia ($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 Italy (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Equipment For Internal Combustion Engines

Imports into Belgium

In 2022, approx. X units of equipment for internal combustion engines were imported into Belgium; shrinking by X% on the previous year's figure. In general, imports saw a abrupt descent. The pace of growth was the most pronounced in 2015 with an increase of X%. Imports peaked at X units in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, internal combustion engine equipment imports dropped to $X in 2022. Over the period under review, imports, however, enjoyed a noticeable expansion. The growth pace was the most rapid in 2015 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum at $X in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Sweden (X units) constituted the largest supplier of internal combustion engine equipment to Belgium, accounting for a X% share of total imports. Moreover, internal combustion engine equipment imports from Sweden exceeded the figures recorded by the second-largest supplier, France (X units), threefold. The third position in this ranking was taken by China (X units), with a X% share.

From 2012 to 2022, the average annual growth rate of volume from Sweden stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: France (X% per year) and China (X% per year).

In value terms, the largest internal combustion engine equipment suppliers to Belgium were Sweden ($X), Germany ($X) and France ($X), together comprising X% of total imports. The Netherlands, China, Italy, the Czech Republic, Japan, the United States, Malta and Estonia lagged somewhat behind, together accounting for a further X%.

The Czech Republic, with a CAGR of X%, 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 more modest paces of growth.

Import Prices by Country

In 2022, the average internal combustion engine equipment import price amounted to $X per unit, reducing by X% against the previous year. In general, the import price, however, posted resilient growth. The most prominent rate of growth was recorded in 2020 when the average import price increased by X%. Over the period under review, average import prices reached the peak figure at $X per unit in 2021, and then declined modestly in the following year.

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

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

Source: IndexBox Platform