Iceland: Motor Vehicle Engine Market 2020

Motor Vehicle Engine Market Size in Iceland

The revenue of the motor vehicle engine market in Iceland amounted to $X in 2018, coming down by -X% against the previous year. In general, motor vehicle engine consumption continues to indicate a moderate reduction. The growth pace was the most rapid in 2012 with an increase of X% against the previous year. In that year, the motor vehicle engine market attained its peak level of $X. From 2013 to 2018, the growth of the motor vehicle engine market failed to regain its momentum.

Motor Vehicle Engine Production in Iceland

In value terms, motor vehicle engine production totaled $X in 2018 estimated in export prices. In general, motor vehicle engine production continues to indicate a mild curtailment. The most prominent rate of growth was recorded in 2009 with an increase of X% y-o-y. In that year, motor vehicle engine production attained its peak level of $X. From 2010 to 2018, motor vehicle engine production growth failed to regain its momentum.

Motor Vehicle Engine Exports

Exports from Iceland

In 2018, the exports of motor vehicle engines (spark-ignition) from Iceland totaled X units, picking up by X% against the previous year. In general, motor vehicle engine exports continue to indicate a skyrocketing expansion. The pace of growth was the most pronounced in 2012 with an increase of X% y-o-y. Iceland exports peaked at X units in 2013; however, from 2014 to 2018, exports failed to regain their momentum.

In value terms, motor vehicle engine exports amounted to $X in 2018. In general, motor vehicle engine exports continue to indicate a deep decline. The pace of growth appeared the most rapid in 2017 with an increase of X% year-to-year. Iceland exports peaked at $X in 2011; however, from 2012 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) followed a long way behind the leaders.

From 2007 to 2018, average annual rates of growth with regard to motor vehicle engine exports from Germany stood at +X%. 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 U.S. ($X), Germany ($X) and Japan ($X) appeared to be the countries with the highest levels of exports in 2018, together comprising X% of total exports. Hungary, Mexico, Canada, France, Austria, the UK, China, South Korea, Romania and Iceland lagged somewhat behind, together comprising a further X the main exporting countries, France recorded the highest rates of growth with regard to 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 Iceland amounted to $X per unit, coming down by -X% against the previous year. In general, the motor vehicle engine export price continues to indicate a sharp downturn. The most prominent rate of growth was recorded in 2017 when the export price increased by X% against the previous year. Iceland export price peaked at $X per unit in 2008; however, from 2009 to 2018, export prices remained at a lower figure.

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 Iceland

In 2018, the amount of motor vehicle engines (spark-ignition) imported into Iceland amounted to X units, growing by X% against the previous year. In general, motor vehicle engine imports continue to indicate strong growth. The most prominent rate of growth was recorded in 2012 when imports increased by X% year-to-year. In that year, motor vehicle engine imports attained their peak of X units. From 2013 to 2018, the growth of motor vehicle engine imports failed to regain its momentum.

In value terms, motor vehicle engine imports totaled $X in 2018. Overall, motor vehicle engine imports continue to indicate a buoyant expansion. The pace of growth appeared the most rapid in 2014 when imports increased by X% year-to-year. Over the period under review, motor vehicle engine imports reached their peak figure in 2018 and are likely to continue its growth in the near future.

Imports by Country

In 2018, the U.S. (X units), distantly followed by Mexico (X units), Canada (X units) and Germany (X units) represented the main importers of motor vehicle engines (spark-ignition), together committing X% of total imports. 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) took a minor share 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. While the share of Mexico (+X p.p.), the U.S. (+X p.p.), Turkey (+X p.p.), Russia (+X p.p.) and China (+X p.p.) increased significantly in terms of the global imports from 2007-2018, the share of Canada (-X p.p.), Spain (-X p.p.) and Germany (-X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the U.S. ($X) constitutes the largest market for imported motor vehicle engines (spark-ignition) into Iceland, comprising X% of global imports. The second position in the ranking was occupied by Canada ($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. totaled +X%. The remaining importing countries recorded the following average annual rates of imports growth: Canada (-X% per year) and Germany (-X% per year).

Import Prices by Country

In 2018, the motor vehicle engine import price in Iceland amounted to $X per unit, surging by X% against the previous year. Overall, the motor vehicle engine import price continues to indicate strong growth. The most prominent rate of growth was recorded in 2014 when the import price increased by X% against the previous year. Iceland import price peaked 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 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