Croatia: Non-Electric Industrial Furnace Market 2024

Non-Electric Industrial Furnace Market Size in Croatia

The Croatian non-electric industrial furnace market declined to $X in 2022, which is down by -7.3% against the previous year. Overall, consumption faced a drastic downturn. Non-electric industrial furnace consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Non-Electric Industrial Furnace Production in Croatia

In value terms, non-electric industrial furnace production rose markedly to $X in 2022 estimated in export price. Overall, production enjoyed a remarkable increase. The pace of growth appeared the most rapid in 2014 when the production volume increased by 138% against the previous year. As a result, production attained the peak level of $X. From 2015 to 2022, production growth remained at a somewhat lower figure.

Non-Electric Industrial Furnace Exports

Exports from Croatia

In 2022, exports of non-electric industrial or laboratory furnaces and ovens from Croatia soared to X units, rising by 115% against the year before. Overall, exports showed a mild expansion. Over the period under review, the exports attained the maximum at X units in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, non-electric industrial furnace exports surged to $X in 2022. In general, exports showed a temperate expansion. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

The UK (X units) was the main destination for non-electric industrial furnace exports from Croatia, accounting for a 89% share of total exports. Moreover, non-electric industrial furnace exports to the UK exceeded the volume sent to the second major destination, Hungary (X units), more than tenfold. Romania (X units) ranked third in terms of total exports with a 3.7% share.

From 2012 to 2022, the average annual growth rate of volume to the UK stood at +8.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hungary (+8.0% per year) and Romania (-9.4% per year).

In value terms, the UK ($X) remains the key foreign market for non-electric industrial or laboratory furnaces and ovens exports from Croatia, comprising 65% of total exports. The second position in the ranking was held by Hungary ($X), with a 19% share of total exports. It was followed by Romania, with a 10% share.

From 2012 to 2022, the average annual growth rate of value to the UK totaled +6.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hungary (+16.7% per year) and Romania (-9.9% per year).

Export Prices by Country

In 2022, the average non-electric industrial furnace export price amounted to $X per unit, rising by 30% against the previous year. Over the period under review, the export price recorded a slight increase. The growth pace was the most rapid in 2017 an increase of 35%. The export price peaked at $X per unit in 2019; however, from 2020 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 Hungary ($X per unit), while the average price for exports to the UK ($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 Serbia (+12.4%), while the prices for the other major destinations experienced more modest paces of growth.

Non-Electric Industrial Furnace Imports

Imports into Croatia

After three years of decline, overseas purchases of non-electric industrial or laboratory furnaces and ovens increased by 65% to X units in 2022. In general, imports, however, showed a precipitous setback. The growth pace was the most rapid in 2015 when imports increased by 306%. Over the period under review, imports reached the peak figure at X units in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, non-electric industrial furnace imports soared to $X in 2022. Over the period under review, imports, however, showed a abrupt contraction. The growth pace was the most rapid in 2015 when imports increased by 579% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Bosnia and Herzegovina (X units), Italy (X units) and China (X units) were the main suppliers of non-electric industrial furnace imports to Croatia, with a combined 78% share of total imports. These countries were followed by the United States, Turkey and the UK, which together accounted for a further 16%.

From 2012 to 2022, the biggest increases were recorded for Turkey (with a CAGR of +76.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Italy ($X) and Bosnia and Herzegovina ($X) constituted the largest non-electric industrial furnace suppliers to Croatia, with a combined 71% share of total imports. China, the UK and Turkey lagged somewhat behind, together accounting for a further 18%.

Among the main suppliers, Turkey, with a CAGR of +81.8%, recorded 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 non-electric industrial furnace import price stood at $X per unit in 2022, surging by 15% against the previous year. In general, import price indicated a temperate expansion from 2012 to 2022: its price increased at an average annual rate of +4.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, non-electric industrial furnace import price decreased by -15.4% against 2020 indices. The most prominent rate of growth was recorded in 2013 when the average import price increased by 71% against the previous year. The import price peaked at $X per unit in 2015; however, from 2016 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Czech Republic (+27.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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