In 2023, the import value of spark-ignition internal combustion engines to the UK was approximately 380 million US dollars. The forecasted data from 2024 to 2028 indicates a steady decline in imports, with the value expected to decrease from 357.89 million US dollars in 2024 to 265.87 million US dollars in 2028. This represents a continuous year-on-year decline, with significant drops particularly notable in 2026 and 2027. The compound annual growth rate (CAGR) over the five-year period underscores a decreasing trend in the import of these engines.
Future trends to watch for include:
- Transformation towards electric vehicles, which may further reduce the demand for spark-ignition internal combustion engines.
- Regulatory changes and environmental policies that could impact import levels and stimulate shifts to alternative technologies.
- Economic factors such as exchange rates and trade agreements that may influence import costs and preferences.