Price for Electric Motors; of an Output Not Exceeding 37.5W in Spain - 2023
Contents:
- Price for Electric Motors; of an Output Not Exceeding 37.5W in Spain (CIF) - 2023
- Price for Electric Motors; of an Output Not Exceeding 37.5W in Spain (FOB) - 2022
- Imports of Electric Motors; of an Output Not Exceeding 37.5W in Spain
- Exports of Electric Motors; of an Output Not Exceeding 37.5W in Spain
Price for Electric Motors; of an Output Not Exceeding 37.5W in Spain (CIF) - 2023
In December 2023, the average import price for electric motors amounted to $9.4 per unit, growing by 21% against the previous month. Over the last twelve-month period, it increased at an average monthly rate of +1.4%. The most prominent rate of growth was recorded in July 2023 when the average import price increased by 24% m-o-m. Over the period under review, average import prices attained the maximum in December 2023.
There were significant differences in the average prices amongst the major supplying countries. In December 2023, the country with the highest price was Italy ($14.3 per unit), while the price for Austria ($3.2 per unit) was amongst the lowest.
From December 2022 to December 2023, the most notable rate of growth in terms of prices was attained by France (+5.5%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Electric Motors; of an Output Not Exceeding 37.5W in Spain (FOB) - 2022
The average export price for electric motors stood at $15 per unit in 2022, remaining stable against the previous year. In general, the export price, however, continues to indicate a pronounced reduction. The most prominent rate of growth was recorded in 2014 an increase of 18%. The export price peaked at $24 per unit in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($49 per unit), while the average price for exports to Morocco ($6.8 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 Germany (+9.8%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Electric Motors; of an Output Not Exceeding 37.5W in Spain
Imports of electric motors into Spain dropped to 28M units in 2022, reducing by -6.1% against 2021 figures. Over the period under review, imports saw a abrupt downturn. The smallest decline of -0.7% was in 2021. Imports peaked at 37M units in 2019; however, from 2020 to 2022, imports failed to regain momentum.
In value terms, imports of electric motors rose rapidly to $216M in 2022. In general, imports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when imports increased by 9.6%. Imports peaked in 2022 and are expected to retain growth in the immediate term.
| Import of Electric Motors; of an Output Not Exceeding 37.5W in Spain (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 44.1 | 28.9 | 45.4 | 53.0 | 6.3% |
| Germany | 40.7 | 42.8 | 49.5 | 47.6 | 5.4% |
| Italy | 23.2 | 18.2 | 17.2 | 21.9 | -1.9% |
| France | 22.2 | 20.0 | 18.6 | 19.9 | -3.6% |
| Austria | 16.7 | 17.2 | 19.6 | 13.0 | -8.0% |
| Switzerland | 15.0 | 12.8 | 11.9 | 12.8 | -5.1% |
| North Macedonia | N/A | N/A | N/A | 4.3 | 0% |
| Japan | 5.0 | 1.9 | 1.9 | 1.1 | -39.6% |
| Others | 47.0 | 45.0 | 40.6 | 42.6 | -3.2% |
| Total | 214 | 187 | 205 | 216 | 0.3% |
Top Suppliers of Electric Motors; of an Output Not Exceeding 37.5W to Spain in 2022:
- China (8.0M units)
- Germany (5.6M units)
- Austria (4.3M units)
- France (3.2M units)
- Switzerland (1.6M units)
- North Macedonia (1.0M units)
- Italy (0.8M units)
- Japan (0.4M units)
Exports of Electric Motors; of an Output Not Exceeding 37.5W in Spain
In 2022, after three years of growth, there was significant decline in overseas shipments of electric motors, when their volume decreased by -22.1% to 4.1M units. Over the period under review, exports, however, continue to indicate a strong increase. The pace of growth appeared the most rapid in 2021 when exports increased by 52% against the previous year. As a result, the exports reached the peak of 5.2M units, and then dropped notably in the following year.
In value terms, exports of electric motors declined rapidly to $61M in 2022. Overall, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when exports increased by 42%. As a result, the exports attained the peak of $78M, and then fell significantly in the following year.
| Export of Electric Motors; of an Output Not Exceeding 37.5W in Spain (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Morocco | 6.6 | 9.5 | 18.6 | 19.8 | 44.2% |
| France | 11.2 | 13.4 | 20.1 | 7.7 | -11.7% |
| Germany | 4.9 | 3.4 | 5.9 | 5.2 | 2.0% |
| Portugal | 9.5 | 3.5 | 5.2 | 5.0 | -19.3% |
| Italy | 1.2 | 1.1 | 2.5 | 3.4 | 41.5% |
| Mexico | 1.3 | 2.1 | 2.3 | 1.8 | 11.5% |
| United Kingdom | 2.2 | 1.4 | 1.9 | 1.5 | -12.0% |
| United States | 5.5 | 2.8 | 2.6 | 1.0 | -43.3% |
| Belgium | 1.5 | 2.1 | 2.2 | 0.9 | -15.7% |
| Slovakia | 1.2 | 2.9 | 2.6 | 0.6 | -20.6% |
| Sweden | 1.8 | 1.5 | 1.7 | 0.3 | -45.0% |
| Romania | 1.0 | 1.4 | 1.4 | 0.1 | -53.6% |
| Others | 12.3 | 10.0 | 10.8 | 13.7 | 3.7% |
| Total | 60.4 | 54.8 | 78.0 | 61.2 | 0.4% |
Top Export Markets for Electric Motors; of an Output Not Exceeding 37.5W from Spain in 2022:
- Morocco (2921.7K units)
- France (196.9K units)
- Portugal (179.8K units)
- Germany (105.3K units)
- Mexico (97.6K units)
- Italy (94.5K units)
- Belgium (64.7K units)
- United Kingdom (62.6K units)
- United States (52.1K units)
- Sweden (24.8K units)
- Slovakia (14.3K units)
- Romania (7.7K units)
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