Luxembourg: Market for Equipment For Internal Combustion Engines 2024

Market Size for Equipment For Internal Combustion Engines in Luxembourg

The Luxembourg internal combustion engine equipment market was estimated at $X in 2022, picking up by X% against the previous year. Over the period under review, the total consumption indicated a noticeable 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. Based on 2022 figures, consumption decreased by X% against 2020 indices. Over the period under review, the market reached the peak level at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Production of Equipment For Internal Combustion Engines in Luxembourg

In value terms, internal combustion engine equipment production stood at $X in 2022 estimated in export price. Overall, production, however, posted a prominent expansion. The growth pace was the most rapid in 2019 when the production volume increased by X%. Internal combustion engine equipment production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Exports of Equipment For Internal Combustion Engines

Exports from Luxembourg

After two years of growth, shipments abroad of equipment for internal combustion engines decreased by X% to X units in 2022. In general, exports faced a abrupt curtailment. The pace of growth appeared the most rapid in 2020 with an increase of X%. The exports peaked at X units in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, internal combustion engine equipment exports declined markedly to $X in 2022. Overall, exports continue to indicate a drastic downturn. The pace of growth was the most pronounced in 2020 when exports increased by X%. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Belgium (X units) was the main destination for internal combustion engine equipment exports from Luxembourg, accounting for a X% share of total exports. Moreover, internal combustion engine equipment exports to Belgium exceeded the volume sent to the second major destination, France (X units), sixfold. The third position in this ranking was held by the UK (X units), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Belgium totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (X% per year) and the UK (X% per year).

In value terms, Belgium ($X) remains the key foreign market for equipment for internal combustion engines exports from Luxembourg, comprising X% of total exports. The second position in the ranking was taken by France ($X), with a X% share of total exports. It was followed by the UK, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Belgium amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (X% per year) and the UK (X% per year).

Export Prices by Country

The average internal combustion engine equipment export price stood at $X per unit in 2022, jumping by X% against the previous year. In general, the export price saw a strong increase. The most prominent rate of growth was recorded in 2019 an increase of X%. Over the period under review, the average export prices reached the maximum at $X per unit in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the Netherlands ($X per unit), while the average price for exports to Germany ($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 the Netherlands (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Equipment For Internal Combustion Engines

Imports into Luxembourg

In 2022, the amount of equipment for internal combustion engines imported into Luxembourg contracted to X units, falling by X% compared with 2021. Overall, imports recorded a abrupt curtailment. The pace of growth appeared the most rapid in 2016 when imports increased by X% against the previous year. Over the period under review, imports attained the maximum at X units in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, internal combustion engine equipment imports dropped sharply to $X in 2022. Over the period under review, imports, however, showed prominent growth. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. Over the period under review, imports attained the maximum at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

Germany (X units), France (X units) and Belgium (X units) were the main suppliers of internal combustion engine equipment imports to Luxembourg, together comprising X% of total imports. The United States, Denmark and Poland lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the biggest increases were recorded for Poland (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest internal combustion engine equipment suppliers to Luxembourg were Germany ($X), Belgium ($X) and the United States ($X), together accounting for X% of total imports. France, Denmark and Poland lagged somewhat behind, together comprising a further X%.

Poland, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average internal combustion engine equipment import price amounted to $X per unit, which is down by X% against the previous year. In general, the import price, however, enjoyed a buoyant increase. The growth pace was the most rapid in 2020 when the average import price increased by X% against the previous year. The import price peaked at $X per unit in 2021, and then reduced sharply in the following year.

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 the United States ($X per unit), while the price for France ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform