Ethiopia: Market for Equipment For Internal Combustion Engines 2024

Market Size for Equipment For Internal Combustion Engines in Ethiopia

The Ethiopian internal combustion engine equipment market declined remarkably to $X in 2022, which is down 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, consumption recorded a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Exports of Equipment For Internal Combustion Engines

Exports from Ethiopia

In 2022, approx. X units of equipment for internal combustion engines were exported from Ethiopia; growing by X% on the previous year. Over the period under review, exports, however, continue to indicate a abrupt contraction. The pace of growth was the most pronounced in 2018 when exports increased by X%. The exports peaked at X units in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, internal combustion engine equipment exports dropped to $X in 2022. Overall, exports, however, recorded a abrupt setback. The pace of growth appeared the most rapid in 2018 when exports increased by X%. The exports peaked at $X in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

Exports by Country

The United Arab Emirates (X units), the United States (X units) and France (X units) were the main destinations of internal combustion engine equipment exports from Ethiopia, together accounting for X% of total exports.

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

In value terms, the largest markets for internal combustion engine equipment exported from Ethiopia were the United Arab Emirates ($X), the United States ($X) and France ($X), together accounting for X% of total exports.

France, with a CAGR of X%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average internal combustion engine equipment export price stood at $X per unit in 2022, waning by X% against the previous year. In general, the export price showed a abrupt decline. The most prominent rate of growth was recorded in 2014 when the average export price increased by X%. Over the period under review, the average export prices reached the peak figure at $X per unit in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the highest price was recorded for prices to the United States ($X per unit) and the United Arab Emirates ($X per unit), while the average price for exports to France ($X per unit) and Djibouti ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to France (X%), while the prices for the other major destinations experienced a decline.

Imports of Equipment For Internal Combustion Engines

Imports into Ethiopia

After two years of growth, overseas purchases of equipment for internal combustion engines decreased by X% to X units in 2022. In general, imports, however, posted a tangible increase. The pace of growth appeared the most rapid in 2020 with an increase of X%. Over the period under review, imports reached the maximum at X units in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, internal combustion engine equipment imports fell markedly to $X in 2022. Over the period under review, imports showed a abrupt decline. The most prominent rate of growth was recorded in 2020 when imports increased by X%. Over the period under review, imports attained the peak figure at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X units) constituted the largest internal combustion engine equipment supplier to Ethiopia, accounting for a X% share of total imports. Moreover, internal combustion engine equipment imports from China exceeded the figures recorded by the second-largest supplier, Japan (X units), threefold. India (X units) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (X% per year) and India (X% per year).

In value terms, the largest internal combustion engine equipment suppliers to Ethiopia were China ($X), Japan ($X) and India ($X), together accounting for X% of total imports. The United States, Italy, Turkey, the UK and France lagged somewhat behind, together comprising a further X%.

Among the main suppliers, Turkey, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2022, the average internal combustion engine equipment import price amounted to $X per unit, rising by X% against the previous year. In general, the import price, however, continues to indicate a abrupt slump. The most prominent rate of growth was recorded in 2013 when the average import price increased by X% against the previous year. The import price peaked at $X per unit in 2016; however, from 2017 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Japan ($X per unit), while the price for China ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform