Croatia: Market for Lifts, Elevators, Moving Stairways and Draglines 2024

Market Size for Lifts, Elevators, Moving Stairways and Draglines in Croatia

In 2022, the Croatian market for lifts, elevators, moving stairways and draglines was finally on the rise to reach $X after two years of decline. Overall, consumption posted a significant expansion. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Production of Lifts, Elevators, Moving Stairways and Draglines in Croatia

In value terms, lift, elevator, stairway and dragline production totaled $X in 2022 estimated in export price. Over the period under review, production enjoyed resilient growth. The most prominent rate of growth was recorded in 2020 with an increase of 49%. Over the period under review, production hit record highs in 2022 and is expected to retain growth in the immediate term.

Exports of Lifts, Elevators, Moving Stairways and Draglines

Exports from Croatia

In 2022, shipments abroad of lifts, elevators, moving stairways and draglines increased by 9.5% to X units, rising for the second consecutive year after two years of decline. Over the period under review, exports posted strong growth. The pace of growth appeared the most rapid in 2015 when exports increased by 102% against the previous year. Over the period under review, the exports attained the peak figure at X units in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, lift, elevator, stairway and dragline exports declined dramatically to $X in 2022. In general, exports posted a resilient increase. The growth pace was the most rapid in 2015 when exports increased by 121%. Over the period under review, the exports reached the peak figure at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Bosnia and Herzegovina (X units) was the main destination for lift, elevator, stairway and dragline exports from Croatia, with a 36% share of total exports. Moreover, lift, elevator, stairway and dragline exports to Bosnia and Herzegovina exceeded the volume sent to the second major destination, Slovenia (X units), twofold. The third position in this ranking was taken by the UK (X units), with a 14% share.

From 2012 to 2022, the average annual growth rate of volume to Bosnia and Herzegovina totaled +45.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Slovenia (+43.9% per year) and the UK (+3.1% per year).

In value terms, Bosnia and Herzegovina ($X) remains the key foreign market for lifts, elevators, moving stairways and draglines exports from Croatia, comprising 41% of total exports. The second position in the ranking was held by Slovenia ($X), with a 16% share of total exports. It was followed by the UK, with a 15% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Bosnia and Herzegovina stood at +38.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Slovenia (+34.6% per year) and the UK (-0.5% per year).

Export Prices by Country

In 2022, the average export price for lifts, elevators, moving stairways and draglines amounted to $X per unit, waning by -27% against the previous year. Overall, the export price continues to indicate a noticeable decrease. The pace of growth appeared the most rapid in 2016 an increase of 22% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2017 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Montenegro ($X per unit), while the average price for exports to the Czech Republic ($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 Latvia (+71.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Lifts, Elevators, Moving Stairways and Draglines

Imports into Croatia

In 2022, supplies from abroad of lifts, elevators, moving stairways and draglines was finally on the rise to reach X units for the first time since 2019, thus ending a two-year declining trend. In general, imports recorded a strong increase. Imports peaked at X units in 2019; afterwards, it flattened through to 2022.

In value terms, lift, elevator, stairway and dragline imports soared to $X in 2022. Over the period under review, imports enjoyed a prominent increase. The most prominent rate of growth was recorded in 2019 when imports increased by 54%. As a result, imports attained the peak of $X. From 2020 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Spain (X units), Italy (X units) and Slovakia (X units) were the main suppliers of lift, elevator, stairway and dragline imports to Croatia, with a combined 84% share of total imports. Sweden, Turkey, Serbia, Austria, Germany, China and France lagged somewhat behind, together comprising a further 12%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Turkey (with a CAGR of +38.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X), Spain ($X) and Slovakia ($X) constituted the largest lift, elevator, stairway and dragline suppliers to Croatia, together accounting for 82% of total imports. Germany, Serbia, Sweden, Turkey, Austria, China and France lagged somewhat behind, together accounting for a further 12%.

Turkey, with a CAGR of +56.5%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for lifts, elevators, moving stairways and draglines stood at $X per unit in 2022, with a decrease of -28.3% against the previous year. In general, the import price showed a slight curtailment. The most prominent rate of growth was recorded in 2020 an increase of 19%. The import price peaked at $X per unit in 2021, and then contracted notably in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+13.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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