Key Market Indicators
Iceland's import of DC motors is projected to reach approximately $366,000 by 2028, up from around $319,000 in 2023. This reflects an average annual growth rate of 2.2%. Since 1993, the country's demand for DC motors has increased by an average of 7.7% per year. In contrast, Iceland's export of DC motors experienced a significant decline in 2023. Total exports fell to about $2,250 from $3,060 in 2022, marking a 26.3% decrease year-on-year. Despite this recent downturn, Iceland's supply of DC motors has grown by an average of 6.4% annually since 1998. In the global ranking of DC motor exports for 2023, Iceland was placed 79th. Barbados surpassed Iceland with exports totaling $2,250. Leading the rankings were Germany, the United States, and France, securing the second, third, and fourth positions, respectively.
