Croatia: Market for Machines For Balancing Mechanical Parts 2024

Market Size for Machines For Balancing Mechanical Parts in Croatia

The Croatian balancing mechanical parts machine market surged to $X in 2021, picking up by 24% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +1.3% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market attained the peak level in 2021 and is likely to see steady growth in the near future.

Exports of Machines For Balancing Mechanical Parts

Exports from Croatia

In 2021, the amount of machines for balancing mechanical parts exported from Croatia soared to X units, with an increase of 33% compared with 2020 figures. Over the period under review, exports continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2014 with an increase of 1,000%. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in the near future.

In value terms, balancing mechanical parts machine exports skyrocketed to $X in 2021. Overall, exports saw a significant increase. The growth pace was the most rapid in 2016 when exports increased by 888% against the previous year. The exports peaked in 2021 and are likely to see steady growth in the near future.

Exports by Country

Slovenia (X units) was the main destination for balancing mechanical parts machine exports from Croatia, accounting for a 67% share of total exports. Moreover, balancing mechanical parts machine exports to Slovenia exceeded the volume sent to the second major destination, Bosnia and Herzegovina (X units), threefold. Serbia (X units) ranked third in terms of total exports with a 3.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Slovenia amounted to +34.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bosnia and Herzegovina (+17.7% per year) and Serbia (+17.4% per year).

In value terms, Slovenia ($X) remains the key foreign market for machines for balancing mechanical parts exports from Croatia, comprising 71% of total exports. The second position in the ranking was taken by Bosnia and Herzegovina ($X), with an 18% share of total exports. It was followed by Serbia, with a 9.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Slovenia stood at +45.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bosnia and Herzegovina (+3.9% per year) and Serbia (+25.3% per year).

Export Prices by Country

In 2021, the average balancing mechanical parts machine export price amounted to $X per unit, rising by 27% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 when the average export price increased by 41% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per unit in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Serbia ($X per unit), while the average price for exports to Montenegro ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+19.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Machines For Balancing Mechanical Parts

Imports into Croatia

In 2021, approx. X units of machines for balancing mechanical parts were imported into Croatia; with an increase of 19% compared with the previous year's figure. In general, total imports indicated notable growth from 2012 to 2021: its volume increased at an average annual rate of +2.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2014 with an increase of 122% against the previous year. As a result, imports reached the peak of X units. From 2015 to 2021, the growth of imports failed to regain momentum.

In value terms, balancing mechanical parts machine imports soared to $X in 2021. Over the period under review, total imports indicated tangible growth from 2012 to 2021: its value increased at an average annual rate of +4.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +57.8% against 2019 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

China (X units), Italy (X units) and Germany (X units) were the main suppliers of balancing mechanical parts machine imports to Croatia, together comprising 69% of total imports. These countries were followed by Poland, the United States, Hungary, Slovenia and Austria, which together accounted for a further 28%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the United States (with a CAGR of +25.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X), Germany ($X) and the United States ($X) constituted the largest balancing mechanical parts machine suppliers to Croatia, together comprising 68% of total imports.

The United States, with a CAGR of +32.9%, recorded 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 balancing mechanical parts machine import price stood at $X per unit in 2021, picking up by 12% against the previous year. In general, import price indicated pronounced growth from 2012 to 2021: its price increased at an average annual rate of +2.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, balancing mechanical parts machine import price increased by +44.2% against 2019 indices. The pace of growth was the most pronounced in 2016 when the average import price increased by 34% against the previous year. The import price peaked at $X per unit in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Austria ($X per unit), while the price for Poland ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Austria (+20.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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