Croatia: Shaft Coupling Market 2024

Shaft Coupling Market Size in Croatia

For the fourth year in a row, the Croatian shaft coupling market recorded decline in sales value, which decreased by -3% to $X in 2022. In general, consumption saw a deep setback. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Shaft Coupling Production in Croatia

In value terms, shaft coupling production surged to $X in 2022 estimated in export price. Overall, production, however, saw a pronounced setback. Shaft coupling production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Shaft Coupling Exports

Exports from Croatia

In 2022, shipments abroad of clutches and shaft couplings increased by 40% to X tons, rising for the second consecutive year after two years of decline. Over the period under review, exports continue to indicate a significant increase. The most prominent rate of growth was recorded in 2021 when exports increased by 647% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in the near future.

In value terms, shaft coupling exports expanded remarkably to $X in 2022. Overall, exports recorded a significant expansion. The most prominent rate of growth was recorded in 2021 when exports increased by 233% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Germany (X tons) was the main destination for shaft coupling exports from Croatia, with a 94% share of total exports. It was followed by Bosnia and Herzegovina (X tons), with a 2.1% share of total exports. Serbia (X tons) ranked third in terms of total exports with a 1.4% share.

From 2012 to 2022, the average annual growth rate of volume to Germany amounted to +67.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bosnia and Herzegovina (+17.4% per year) and Serbia (+40.9% per year).

In value terms, Germany ($X) remains the key foreign market for clutches and shaft couplings exports from Croatia, comprising 83% of total exports. The second position in the ranking was taken by Bosnia and Herzegovina ($X), with a 6.5% share of total exports. It was followed by Serbia, with a 2.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Germany amounted to +53.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bosnia and Herzegovina (+14.2% per year) and Serbia (+38.3% per year).

Export Prices by Country

In 2022, the average shaft coupling export price amounted to $X per ton, reducing by -18.9% against the previous year. Over the period under review, the export price continues to indicate a deep setback. The pace of growth appeared the most rapid in 2020 an increase of 34%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2022, 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 Bosnia and Herzegovina ($X per ton), while the average price for exports to Germany ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Italy (+2.3%), while the prices for the other major destinations experienced a decline.

Shaft Coupling Imports

Imports into Croatia

In 2022, after three years of decline, there was growth in purchases abroad of clutches and shaft couplings, when their volume increased by 2.1% to X tons. The total import volume increased at an average annual rate of +1.9% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2016 with an increase of 46%. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, shaft coupling imports expanded significantly to $X in 2022. In general, total imports indicated a slight expansion from 2012 to 2022: its value increased at an average annual rate of +1.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +15.0% against 2020 indices. The most prominent rate of growth was recorded in 2016 with an increase of 69% against the previous year. Imports peaked at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Italy (X tons) constituted the largest supplier of shaft coupling to Croatia, with a 33% share of total imports. Moreover, shaft coupling imports from Italy exceeded the figures recorded by the second-largest supplier, Germany (X tons), twofold. Denmark (X tons) ranked third in terms of total imports with a 9.7% share.

From 2012 to 2022, the average annual growth rate of volume from Italy stood at +2.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+1.6% per year) and Denmark (+54.2% per year).

In value terms, Germany ($X), Italy ($X) and Austria ($X) constituted the largest shaft coupling suppliers to Croatia, with a combined 62% share of total imports. Slovenia, Sweden, Poland, France, Denmark, Belgium, the UK, China, Switzerland and Portugal lagged somewhat behind, together comprising a further 32%.

In terms of the main suppliers, Portugal, with a CAGR of +85.2%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average shaft coupling import price stood at $X per ton in 2022, rising by 3.3% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 20%. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Denmark ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Slovenia (+6.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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