Croatia: Market for Industrial, Laboratory or Bakery Ovens 2024

Market Size for Industrial, Laboratory or Bakery Ovens in Croatia

The Croatian market for industrial, laboratory or bakery ovens dropped to $X in 2022, shrinking by -10.6% against the previous year. In general, consumption showed a noticeable descent. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market failed to regain momentum.

Production of Industrial, Laboratory or Bakery Ovens in Croatia

In value terms, industrial, laboratory or bakery oven production reduced dramatically to $X in 2022 estimated in export price. Overall, production saw strong growth. The pace of growth was the most pronounced in 2021 with an increase of 381%. Over the period under review, production hit record highs at $X in 2016; however, from 2017 to 2022, production failed to regain momentum.

Exports of Industrial, Laboratory or Bakery Ovens

Exports from Croatia

In 2022, overseas shipments of industrial, laboratory or bakery ovens increased by 11% to X units for the first time since 2019, thus ending a two-year declining trend. In general, exports enjoyed resilient growth. The pace of growth appeared the most rapid in 2014 when exports increased by 196% against the previous year. Over the period under review, the exports hit record highs at X units in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, industrial, laboratory or bakery oven exports dropped to $X in 2022. Over the period under review, exports posted a buoyant expansion. The growth pace was the most rapid in 2014 with an increase of 111% against the previous year. The exports peaked at $X in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Serbia (X units), Bosnia and Herzegovina (X units) and Slovenia (X units) were the main destinations of industrial, laboratory or bakery oven exports from Croatia, with a combined 87% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Serbia (with a CAGR of +33.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Serbia ($X) remains the key foreign market for industrial, laboratory or bakery ovens exports from Croatia, comprising 50% of total exports. The second position in the ranking was taken by Bosnia and Herzegovina ($X), with a 21% share of total exports. It was followed by Montenegro, with a 15% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Serbia stood at +30.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bosnia and Herzegovina (+12.4% per year) and Montenegro (+29.7% per year).

Export Prices by Country

The average export price for industrial, laboratory or bakery ovens stood at $X per unit in 2022, waning by -11.2% against the previous year. In general, export price indicated a pronounced expansion from 2012 to 2022: its price increased at an average annual rate of +3.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, industrial, laboratory or bakery oven export price increased by +9.1% against 2019 indices. The growth pace was the most rapid in 2013 when the average export price increased by 90% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2014 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Montenegro ($X per unit), while the average price for exports to Italy ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Slovakia (+7.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Industrial, Laboratory or Bakery Ovens

Imports into Croatia

Industrial, laboratory or bakery oven imports into Croatia fell to X units in 2022, dropping by -7.7% against the previous year's figure. Over the period under review, imports, however, enjoyed a moderate expansion. The pace of growth was the most pronounced in 2014 with an increase of 91%. Over the period under review, imports hit record highs at X units in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, industrial, laboratory or bakery oven imports declined to $X in 2022. Overall, imports saw a abrupt decrease. The growth pace was the most rapid in 2014 when imports increased by 23% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Italy (X units) constituted the largest industrial, laboratory or bakery oven supplier to Croatia, accounting for a 72% share of total imports. Moreover, industrial, laboratory or bakery oven imports from Italy exceeded the figures recorded by the second-largest supplier, Germany (X units), eightfold. The third position in this ranking was taken by Slovenia (X units), with a 5.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Italy totaled +13.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-1.8% per year) and Slovenia (+1.7% per year).

In value terms, Italy ($X) constituted the largest supplier of industrial, laboratory or bakery ovens to Croatia, comprising 47% of total imports. The second position in the ranking was taken by Germany ($X), with a 19% share of total imports. It was followed by Austria, with a 9.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Italy amounted to +3.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-3.8% per year) and Austria (+1.7% per year).

Import Prices by Country

The average import price for industrial, laboratory or bakery ovens stood at $X per unit in 2022, dropping by -1.7% against the previous year. Overall, the import price saw a deep contraction. The most prominent rate of growth was recorded in 2020 when the average import price increased by 103% against the previous year. The import price peaked at $X per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+9.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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