Central Asia: Steel Spring Market 2025

Steel Spring Market Size in Central Asia

In 2021, the Central Asian steel spring market decreased by -7% to $X, falling for the third year in a row after two years of growth. Overall, consumption showed a relatively flat trend pattern. Over the period under review, the market reached the peak level at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Steel Spring Production in Central Asia

In value terms, steel spring production skyrocketed to $X in 2021 estimated in export price. In general, production, however, saw a noticeable downturn. The pace of growth appeared the most rapid in 2014 with an increase of 17% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2021, production growth failed to regain momentum.

Steel Spring Exports

Exports in Central Asia

In 2021, shipments abroad of steel springs and leaves for springs was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Overall, exports continue to indicate a prominent expansion. The pace of growth was the most pronounced in 2017 with an increase of 310%. The volume of export peaked at X tons in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, steel spring exports rose sharply to $X in 2021. In general, exports continue to indicate a prominent expansion. The growth pace was the most rapid in 2015 when exports increased by 218% against the previous year. The level of export peaked at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

In 2021, Kazakhstan (X tons) and Uzbekistan (X tons) represented the main exporters of steel springs and leaves for springs in Central Asia, together constituting 83% of total exports. It was distantly followed by Kyrgyzstan (X tons), committing a 17% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Uzbekistan (with a CAGR of +253.2%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, Kazakhstan ($X) remains the largest steel spring supplier in Central Asia, comprising 72% of total exports. The second position in the ranking was held by Uzbekistan ($X), with a 21% share of total exports.

In Kazakhstan, steel spring exports expanded at an average annual rate of +8.6% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Uzbekistan (+63.0% per year) and Kyrgyzstan (-7.8% per year).

Export Prices by Country

In 2021, the export price in Central Asia amounted to $X per ton, which is down by -32.3% against the previous year. Overall, the export price, however, enjoyed measured growth. The pace of growth was the most pronounced in 2014 an increase of 117% against the previous year. The level of export peaked at $X per ton in 2016; however, from 2017 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Kazakhstan ($X per ton), while Kyrgyzstan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Kyrgyzstan (+4.6%), while the other leaders experienced a decline in the export price figures.

Steel Spring Imports

Imports in Central Asia

In 2021, overseas purchases of steel springs and leaves for springs decreased by -36.5% to X tons for the first time since 2016, thus ending a four-year rising trend. Overall, imports, however, continue to indicate a tangible expansion. The pace of growth appeared the most rapid in 2017 when imports increased by 127% against the previous year. The volume of import peaked at X tons in 2020, and then reduced sharply in the following year.

In value terms, steel spring imports declined modestly to $X in 2021. In general, imports, however, enjoyed prominent growth. The pace of growth appeared the most rapid in 2017 with an increase of 78% against the previous year. The level of import peaked at $X in 2020, and then shrank slightly in the following year.

Imports by Country

In 2021, Kazakhstan (X tons) represented the largest importer of steel springs and leaves for springs, making up 62% of total imports. Uzbekistan (X tons) held the second position in the ranking, distantly followed by Kyrgyzstan (X tons). All these countries together took near 31% share of total imports. Tajikistan (X tons), Mongolia (X tons) and Turkmenistan (X tons) followed a long way behind the leaders.

Kazakhstan was also the fastest-growing in terms of the steel springs and leaves for springs imports, with a CAGR of +2.3% from 2012 to 2021. Kyrgyzstan experienced a relatively flat trend pattern. Mongolia (-2.5%), Tajikistan (-8.2%), Turkmenistan (-8.6%) and Uzbekistan (-10.0%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Uzbekistan increased by +23 percentage points.

In value terms, the largest steel spring importing markets in Central Asia were Kazakhstan ($X), Uzbekistan ($X) and Mongolia ($X), with a combined 93% share of total imports.

Uzbekistan, with a CAGR of +39.1%, recorded the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Central Asia stood at $X per ton in 2021, growing by 50% against the previous year. Import price indicated pronounced growth from 2012 to 2021: its price increased at an average annual rate of +2.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, steel spring import price increased by +91.3% against 2018 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Mongolia ($X per ton), while Kyrgyzstan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Uzbekistan (+54.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :