Czech Republic: Timer Market 2024

Timer Market Size in the Czech Republic

The Czech timer market fell to $X in 2022, waning by -5.7% against the previous year. Overall, consumption recorded a perceptible contraction. Over the period under review, the market reached the maximum level at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Timer Production in the Czech Republic

In value terms, timer production dropped to $X in 2022 estimated in export price. In general, production showed a noticeable slump. The pace of growth was the most pronounced in 2018 with an increase of 33%. Timer production peaked at $X in 2013; however, from 2014 to 2022, production remained at a lower figure.

Timer Exports

Exports from the Czech Republic

For the fourth year in a row, the Czech Republic recorded growth in shipments abroad of timers, which increased by 18% to X units in 2022. Overall, exports posted a prominent expansion. The most prominent rate of growth was recorded in 2019 when exports increased by 235%. The exports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, timer exports reduced modestly to $X in 2022. In general, exports, however, saw a deep setback. The growth pace was the most rapid in 2018 when exports increased by 335%. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Germany (X units) was the main destination for timer exports from the Czech Republic, with a 89% share of total exports. Moreover, timer exports to Germany exceeded the volume sent to the second major destination, Slovakia (X units), more than tenfold. Austria (X units) ranked third in terms of total exports with a 2.1% share.

From 2012 to 2022, the average annual growth rate of volume to Germany amounted to +31.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Slovakia (+3.2% per year) and Austria (+11.4% per year).

In value terms, Germany ($X) remains the key foreign market for timers exports from the Czech Republic, comprising 91% of total exports. The second position in the ranking was held by Slovakia ($X), with a 3% share of total exports. It was followed by Austria, with a 2.1% share.

From 2012 to 2022, the average annual growth rate of value to Germany stood at +23.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Slovakia (-15.6% per year) and Austria (+15.0% per year).

Export Prices by Country

In 2022, the average timer export price amounted to $X per unit, which is down by -18.2% against the previous year. Over the period under review, the export price recorded a abrupt decrease. The growth pace was the most rapid in 2018 when the average export price increased by 393% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2019 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Poland ($X per unit), while the average price for exports to Slovakia ($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 Austria (+3.2%), while the prices for the other major destinations experienced a decline.

Timer Imports

Imports into the Czech Republic

In 2022, overseas purchases of timers increased by 32% to X units, rising for the fifth year in a row after five years of decline. Overall, imports, however, recorded a mild descent. The pace of growth appeared the most rapid in 2021 when imports increased by 126%. Imports peaked at X units in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, timer imports rose notably to $X in 2022. In general, imports, however, faced a abrupt setback. The pace of growth was the most pronounced in 2019 when imports increased by 48%. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Germany (X units) constituted the largest supplier of timer to the Czech Republic, with a 67% share of total imports. Moreover, timer imports from Germany exceeded the figures recorded by the second-largest supplier, China (X units), threefold. The UK (X units) ranked third in terms of total imports with a 3.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Germany amounted to +15.0%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-4.3% per year) and the UK (+6.9% per year).

In value terms, the largest timer suppliers to the Czech Republic were Germany ($X), China ($X) and the United States ($X), together comprising 80% of total imports. Austria, Italy and the UK lagged somewhat behind, together accounting for a further 11%.

Among the main suppliers, Italy, with a CAGR of +62.2%, saw the highest growth rate of 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

In 2022, the average timer import price amounted to $X per unit, dropping by -19% against the previous year. Over the period under review, the import price showed a abrupt decline. The most prominent rate of growth was recorded in 2017 when the average import price increased by 53%. As a result, import price attained the peak level of $X per unit. From 2018 to 2022, the average 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 the United States ($X per unit), while the price for the UK ($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 United States (+29.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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