Cyprus: Motor Vehicle Engine Market 2020

Motor Vehicle Engine Market Size in Cyprus

The revenue of the motor vehicle engine market in Cyprus amounted to $X in 2018, falling by -X% against the previous year. Over the period under review, motor vehicle engine consumption continues to indicate a mild descent. The pace of growth appeared the most rapid in 2011 with an increase of X% y-o-y. In that year, the motor vehicle engine market reached its peak level of $X. From 2012 to 2018, the growth of the motor vehicle engine market failed to regain its momentum.

Motor Vehicle Engine Production in Cyprus

In value terms, motor vehicle engine production amounted to $X in 2018 estimated in export prices. Overall, motor vehicle engine production, however, continues to indicate a notable increase. The most prominent rate of growth was recorded in 2009 when production volume increased by X% year-to-year. Cyprus motor vehicle engine production peaked at $X in 2010; however, from 2011 to 2018, production stood at a somewhat lower figure.

Motor Vehicle Engine Exports

Exports from Cyprus

In 2018, the amount of motor vehicle engines (spark-ignition) exported from Cyprus stood at X units, declining by -X% against the previous year. Overall, motor vehicle engine exports continue to indicate an abrupt downturn. The pace of growth appeared the most rapid in 2009 when exports increased by X% year-to-year. Cyprus exports peaked at X units in 2010; however, from 2011 to 2018, exports remained at a lower figure.

In value terms, motor vehicle engine exports amounted to $X in 2018. In general, motor vehicle engine exports continue to indicate a pronounced decline. The pace of growth was the most pronounced in 2009 when exports increased by X% y-o-y. Over the period under review, motor vehicle engine exports reached their peak figure at $X in 2010; however, from 2011 to 2018, exports failed to regain their momentum.

Exports by Country

In 2018, Germany (X units), distantly followed by the U.S. (X units), Japan (X units), China (X units), Mexico (X units), Hungary (X units) and Austria (X units) represented the major exporters of motor vehicle engines (spark-ignition), together generating X% of total exports. The UK (X units), Canada (X units), France (X units), Romania (X units) and South Korea (X units) held a minor share of total exports.

Exports from Germany increased at an average annual rate of +X% from 2007 to 2018. At the same time, South Korea (+X%), France (+X%), Romania (+X%), Austria (+X%) and the U.S. (+X%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing exporter in the world, with a CAGR of +X% from 2007-2018. Japan experienced a relatively flat trend pattern. By contrast, Mexico (-X%), Canada (-X%), Hungary (-X%), China (-X%) and the UK (-X%) illustrated a downward trend over the same period. Germany (+X p.p.), France (+X p.p.), the U.S. (+X p.p.) and Romania (+X p.p.) significantly strengthened its position in terms of the global exports, while Hungary, Mexico, the UK and China saw its share reduced by -X%, -X%, -X% and -X% from 2007 to 2018, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest motor vehicle engine markets from Cyprus were the U.S. ($X), Germany ($X) and Japan ($X), together comprising X% of total exports. These countries were followed by Hungary, Mexico, Canada, France, Austria, the UK, China, South Korea, Romania and Cyprus, which together accounted for a further X terms of the main exporting countries, France recorded the highest growth rate of exports, over the last eleven years, while the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2018, the motor vehicle engine export price in Cyprus amounted to $X per unit, increasing by X% against the previous year. In general, the motor vehicle engine export price continues to indicate remarkable growth. The most prominent rate of growth was recorded in 2011 when the export price increased by X% year-to-year. Cyprus export price peaked in 2018 and is expected to retain its growth in the near future.

There were significant differences in the average prices amongst the major exporting countries. In 2018, the country with the highest price was Canada ($X per unit), while China ($X per unit) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by Mexico, while the other leaders experienced more modest paces of growth.

Motor Vehicle Engine Imports

Imports into Cyprus

In 2018, the amount of motor vehicle engines (spark-ignition) imported into Cyprus amounted to X units, declining by -X% against the previous year. In general, motor vehicle engine imports continue to indicate an abrupt reduction. The pace of growth was the most pronounced in 2014 when imports increased by X% y-o-y. Over the period under review, motor vehicle engine imports reached their maximum at X units in 2007; however, from 2008 to 2018, imports remained at a lower figure.

In value terms, motor vehicle engine imports stood at $X in 2018. In general, motor vehicle engine imports continue to indicate an abrupt decline. The most prominent rate of growth was recorded in 2014 with an increase of X% year-to-year. Over the period under review, motor vehicle engine imports attained their maximum at $X in 2008; however, from 2009 to 2018, imports stood at a somewhat lower figure.

Imports by Country

In 2018, the U.S. (X units), distantly followed by Mexico (X units), Canada (X units) and Germany (X units) were the key importers of motor vehicle engines (spark-ignition), together constituting X% of total imports. The following importers - Russia (X units), China (X units), Turkey (X units), Spain (X units), the Czech Republic (X units), Poland (X units), Hungary (X units) and Brazil (X units) - together made up X% of total imports.

From 2007 to 2018, average annual rates of growth with regard to motor vehicle engine imports into the U.S. stood at +X%. At the same time, Mexico (+X%), Turkey (+X%), Hungary (+X%), Brazil (+X%), Russia (+X%), China (+X%), Poland (+X%) and the Czech Republic (+X%) displayed positive paces of growth. Moreover, Mexico emerged as the fastest-growing importer in the world, with a CAGR of +X% from 2007-2018. By contrast, Canada (-X%), Spain (-X%) and Germany (-X%) illustrated a downward trend over the same period. Mexico (+X p.p.), the U.S. (+X p.p.), Turkey (+X p.p.), Russia (+X p.p.) and China (+X p.p.) significantly strengthened its position in terms of the global imports, while Canada, Spain and Germany saw its share reduced by -X%, -X% and -X% from 2007 to 2018, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the U.S. ($X) constitutes the largest market for imported motor vehicle engines (spark-ignition) into Cyprus, comprising X% of global imports. The second position in the ranking was occupied by Canada ($X), with a X% share of global imports. It was followed by Germany, with a X% share.

From 2007 to 2018, the average annual growth rate of value in the U.S. stood at +X%. In the other countries, the average annual rates were as follows: Canada (-X% per year) and Germany (-X% per year).

Import Prices by Country

The motor vehicle engine import price in Cyprus stood at $X per unit in 2018, picking up by X% against the previous year. In general, the motor vehicle engine import price continues to indicate a buoyant increase. The pace of growth appeared the most rapid in 2016 when the import price increased by X% year-to-year. Cyprus import price peaked in 2018 and is likely to continue its growth in the near future.

There were significant differences in the average prices amongst the major importing countries. In 2018, the country with the highest price was Spain ($X per unit), while Brazil ($X per unit) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by Spain, while the other leaders experienced more modest paces of growth.

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Source: IndexBox Platform