Trade Trends
The global market for vehicle propulsion engine exports declined from $29.80B in 2019 to $27.50B in 2023, marking a 7.7 percent drop over the five-year period. The sector experienced notable volatility, with exports falling to $23.91B in 2020 before showing partial recovery in 2021 and again in 2023.
This trend reflects broader challenges affecting the automotive industry, including pandemic-driven production shutdowns, supply chain disruptions, and the accelerating shift toward electric mobility. These structural changes have influenced global demand for traditional propulsion engines. The slight recovery seen in 2023 may signal early stabilization as manufacturers adapt to evolving market conditions and focus on transitioning technologies.
Top Trading Countries
- United States led exports in 2024 at $5.70B, up from $4.96B in 2023 though below $5.86B in 2019. This reflects a 15.28 percent decline from 2019 to 2023 but a strong 14.96 percent rebound from 2023 to 2024.
- Germany posted $3.65B in exports in 2024, down from $4.45B in 2023 and $4.61B in 2019. This marks a 3.42 percent decline from 2019 to 2023 and an 18.0 percent drop from 2023 to 2024.
- Poland reached $2.05B in 2024, declining from $2.60B in 2023 but rising from $1.70B in 2019. This represents a 52.74 percent increase from 2019 to 2023, followed by a 21.16 percent drop in 2024.
- Sweden exported $2.00B in 2024, down from $2.22B in 2023 but above $1.52B in 2019. This reflects a 45.73 percent rise from 2019 to 2023 and a 9.9 percent decline from 2023 to 2024.
- United Kingdom posted $1.98B in exports in 2024, up from $1.86B in 2023 but slightly below $1.99B in 2019. This indicates a 6.46 percent decline from 2019 to 2023 and a 6.71 percent increase from 2023 to 2024.
Disclaimer
These insights are based on available trade data and may not represent the full market reality.
