Austria: Steel Spring Market 2024

Steel Spring Market Size in Austria

The Austrian steel spring market reduced dramatically to $X in 2021, which is down by -83.6% against the previous year. In general, consumption saw a deep contraction. As a result, consumption attained the peak level of $X. From 2018 to 2021, the growth of the market remained at a lower figure.

Steel Spring Production in Austria

In value terms, steel spring production reduced modestly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.6% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 when the production volume increased by 25%. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Steel Spring Exports

Exports from Austria

In 2021, overseas shipments of steel springs and leaves for springs increased by 19% to X tons, rising for the second year in a row after two years of decline. In general, exports showed a relatively flat trend pattern. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, steel spring exports soared to $X in 2021. Over the period under review, exports continue to indicate a relatively flat trend pattern. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Hungary (X tons), Germany (X tons) and France (X tons) were the main destinations of steel spring exports from Austria, with a combined 67% share of total exports. Sweden, Belgium, the Netherlands, Poland and the Czech Republic lagged somewhat behind, together accounting for a further 24%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the Netherlands (with a CAGR of +31.5%), while the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Hungary ($X) and France ($X) constituted the largest markets for steel spring exported from Austria worldwide, together accounting for 45% of total exports. Sweden, Poland, Belgium, the Czech Republic and the Netherlands lagged somewhat behind, together comprising a further 18%.

Poland, with a CAGR of +12.3%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average steel spring export price stood at $X per ton in 2021, remaining constant against the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 an increase of 19%. The export price peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Czech Republic ($X per ton), while the average price for exports to Belgium ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the Czech Republic (+0.9%), while the prices for the other major destinations experienced a decline.

Steel Spring Imports

Imports into Austria

In 2021, overseas purchases of steel springs and leaves for springs were finally on the rise to reach X tons after two years of decline. Over the period under review, imports recorded a relatively flat trend pattern. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, steel spring imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +2.0% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Germany (X tons) constituted the largest supplier of steel spring to Austria, accounting for a 56% share of total imports. Moreover, steel spring imports from Germany exceeded the figures recorded by the second-largest supplier, Romania (X tons), fourfold. The third position in this ranking was held by Italy (X tons), with a 4.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Germany totaled +5.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Romania (-5.7% per year) and Italy (-1.6% per year).

In value terms, Germany ($X) constituted the largest supplier of steel springs and leaves for springs to Austria, comprising 63% of total imports. The second position in the ranking was held by Italy ($X), with a 6.5% share of total imports. It was followed by Switzerland, with a 6.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Germany stood at +4.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+0.7% per year) and Switzerland (-3.8% per year).

Import Prices by Country

In 2021, the average steel spring import price amounted to $X per ton, with an increase of 5.8% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.9%. The most prominent rate of growth was recorded in 2013 when the average import price increased by 11%. Over the period under review, average import prices reached the maximum in 2021 and is likely to see gradual growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Switzerland ($X per ton), while the price for Romania ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Portugal (+21.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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