Lithuania: Motor Vehicle Engine Market 2024

Motor Vehicle Engine Market Size in Lithuania

The Lithuanian motor vehicle engine market reduced markedly to $X in 2022, with a decrease of X% against the previous year. Overall, consumption saw a abrupt shrinkage. Motor vehicle engine consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Motor Vehicle Engine Production in Lithuania

In value terms, motor vehicle engine production fell to $X in 2022 estimated in export price. Over the period under review, production showed a abrupt decrease. The pace of growth appeared the most rapid in 2016 when the production volume increased by X% against the previous year. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Motor Vehicle Engine Exports

Exports from Lithuania

After two years of decline, shipments abroad of motor vehicle engines (spark-ignition) increased by X% to X units in 2022. The total export volume increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. As a result, the exports attained the peak of X units. From 2018 to 2022, the growth of the exports remained at a lower figure.

In value terms, motor vehicle engine exports stood at $X in 2022. Over the period under review, total exports indicated a measured increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of X%. As a result, the exports reached the peak of $X. From 2018 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Kazakhstan (X units), Kyrgyzstan (X units) and Tajikistan (X units) were the main destinations of motor vehicle engine exports from Lithuania, together accounting for X% of total exports. Armenia, Georgia, Belarus and Russia lagged somewhat behind, together comprising 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 Georgia (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for motor vehicle engine exported from Lithuania were Kazakhstan ($X), Kyrgyzstan ($X) and Tajikistan ($X), with a combined X% share of total exports. Belarus, Georgia, Armenia and Russia lagged somewhat behind, together accounting for a further X%.

Among the main countries of destination, Georgia, 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 motor vehicle engine export price amounted to $X per unit, waning by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2016 when the average export price increased by X%. The export price peaked at $X per unit in 2021, and then contracted in the following year.

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

Motor Vehicle Engine Imports

Imports into Lithuania

After two years of growth, supplies from abroad of motor vehicle engines (spark-ignition) decreased by X% to X units in 2022. In general, imports, however, saw significant growth. The most prominent rate of growth was recorded in 2013 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure at X units in 2021, and then fell in the following year.

In value terms, motor vehicle engine imports soared to $X in 2022. Over the period under review, imports, however, recorded a significant expansion. The growth pace was the most rapid in 2013 when imports increased by X% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, the UK (X units) constituted the largest motor vehicle engine supplier to Lithuania, accounting for a X% share of total imports. Moreover, motor vehicle engine imports from the UK exceeded the figures recorded by the second-largest supplier, Germany (X units), twofold. China (X units) ranked third in terms of total imports with an X% share.

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

In value terms, Germany ($X) constituted the largest supplier of motor vehicle engines (spark-ignition) to Lithuania, comprising X% of total imports. The second position in the ranking was held by the UK ($X), with a X% share of total imports. It was followed by China, with a X% share.

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

Import Prices by Country

The average motor vehicle engine import price stood at $X per unit in 2022, picking up by X% against the previous year. Overall, the import price, however, continues to indicate a mild reduction. Over the period under review, average import prices reached the peak figure at $X per unit in 2012; however, from 2013 to 2022, import prices remained at a 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 Switzerland ($X per unit), while the price for the United States ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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