Cyprus: Spark Plug Market Overview 2020

Spark Plug Market Size in Cyprus

The revenue of the spark plug market in Cyprus amounted to $X in 2018, growing by X% 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). Over the period under review, spark plug consumption continues to indicate a drastic drop. The growth pace was the most rapid in 2012 when the market value increased by X% year-to-year. Over the period under review, the spark plug market reached its maximum level at $X in 2008; however, from 2009 to 2018, consumption failed to regain its momentum.

Spark Plug Exports

Exports from Cyprus

In 2018, the amount of sparking plugs exported from Cyprus stood at X units, picking up by X% against the previous year. In general, spark plug exports continue to indicate a strong increase. The pace of growth appeared the most rapid in 2014 with an increase of X% y-o-y. Over the period under review, spark plug exports reached their maximum in 2018 and are likely to continue its growth in the immediate term.

In value terms, spark plug exports amounted to $X in 2018. In general, spark plug exports continue to indicate an outstanding increase. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. Over the period under review, spark plug exports attained their maximum at $X in 2017, leveling off in the following year.

Exports by Country

In 2018, Japan (X units), distantly followed by Germany (X units), China (X units) and Mexico (X units) represented the largest exporters of sparking plugs, together mixing up X% of total exports. France (X units), the Netherlands (X units), Indonesia (X units), Russia (X units), Belgium (X units) and the UK (X units) held a relatively small share of total exports.

From 2007 to 2018, the most notable rate of growth in terms of exports, amongst the main exporting countries, was attained by Russia, while the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), Germany ($X) and Mexico ($X) appeared to be the countries with the highest levels of exports in 2018, with a combined X% share of total exports. France, China, the Netherlands, Belgium, the UK, Indonesia, Russia and Cyprus lagged somewhat behind, together accounting for a further X recorded the highest growth rate of exports, in terms of the main exporting countries over the last eleven-year period, while the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2018, the spark plug export price in Cyprus amounted to $X per unit, reducing by -X% against the previous year. Overall, the spark plug export price, however, continues to indicate a resilient expansion. The growth pace was the most rapid in 2013 when the export price increased by X% y-o-y. In that year, the export prices for sparking plugs reached their peak level of $X per unit. From 2014 to 2018, the growth in terms of the export prices for sparking plugs remained at a somewhat lower figure.

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

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

Spark Plug Imports

Imports into Cyprus

Spark plug imports into Cyprus stood at X units in 2018, falling by -X% against the previous year. Overall, spark plug imports continue to indicate a drastic contraction. The most prominent rate of growth was recorded in 2012 with an increase of X% year-to-year. In that year, spark plug imports reached their peak of X units. From 2013 to 2018, the growth of spark plug imports remained at a lower figure.

In value terms, spark plug imports stood at $X in 2018. Over the period under review, spark plug imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when imports increased by X% y-o-y. Over the period under review, spark plug imports reached their peak figure at $X in 2008; however, from 2009 to 2018, imports failed to regain their momentum.

Imports by Country

The U.S. represented the major importer of sparking plugs in the world, with the volume of imports recording X units, which was near X% of total imports in 2018. Germany (X units) ranks second in terms of the total imports with a X% share, followed by the United Arab Emirates (X%), China (X%) and Mexico (X%). The following importers - Russia (X units), India (X units), Australia (X units), Thailand (X units), the UK (X units) and the Netherlands (X units) - together made up X% of total imports.

The U.S. experienced a relatively flat trend pattern of sparking plugs imports. At the same time, the United Arab Emirates (+X%), India (+X%), China (+X%), Thailand (+X%), Australia (+X%) and Germany (+X%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing importer in the world, with a CAGR of +X% from 2007-2018. Mexico and Russia experienced a relatively flat trend pattern. By contrast, the Netherlands (-X%) and the UK (-X%) illustrated a downward trend over the same period. From 2007 to 2018, the share of the United Arab Emirates, China, India and the U.S. increased by +X%, +X%, +X% and +X% percentage points, while the UK (-X p.p.) saw their share reduced. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest spark plug importing markets into Cyprus were the U.S. ($X), Germany ($X) and China ($X), together accounting for X% of total imports. These countries were followed by Mexico, the United Arab Emirates, the UK, Russia, the Netherlands, Australia, Thailand, India and Cyprus, which together accounted for a further X terms of the main importing countries, the United Arab Emirates experienced the highest growth rate of imports, over the last eleven-year period, while the other leaders experienced more modest paces of growth.

Import Prices by Country

The spark plug import price in Cyprus stood at $X per unit in 2018, going up by X% against the previous year. Overall, the spark plug import price continues to indicate a remarkable increase. The most prominent rate of growth was recorded in 2013 when the import price increased by X% against the previous year. Over the period under review, the import prices for sparking plugs reached their maximum in 2018 and is expected to retain its growth in the immediate term.

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

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

Source: IndexBox AI Platform