Eastern Europe: Cranks And Crankshafts Market 2024

Cranks And Crankshafts Market Size in Eastern Europe

The East European cranks and crankshafts market expanded sharply to $X in 2022, surging by 9.5% against the previous year. In general, consumption, however, recorded a slight downturn. The level of consumption peaked at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Cranks And Crankshafts Production in Eastern Europe

In value terms, cranks and crankshafts production surged to $X in 2022 estimated in export price. Over the period under review, production showed a noticeable downturn. The level of production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Cranks And Crankshafts Exports

Exports in Eastern Europe

Cranks and crankshafts exports reduced slightly to X tons in 2022, dropping by -4.7% against 2021. Overall, exports saw a perceptible slump. The growth pace was the most rapid in 2021 when exports increased by 8.2%. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, cranks and crankshafts exports reduced slightly to $X in 2022. In general, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when exports increased by 21%. As a result, the exports reached the peak of $X, and then declined modestly in the following year.

Exports by Country

Poland represented the key exporter of cranks and crankshafts in Eastern Europe, with the volume of exports resulting at X tons, which was near 45% of total exports in 2022. Slovakia (X tons) took the second position in the ranking, followed by Hungary (X tons), the Czech Republic (X tons) and Romania (X tons). All these countries together took near 47% share of total exports. Russia (X tons) and Belarus (X tons) followed a long way behind the leaders.

Poland was also the fastest-growing in terms of the cranks and crankshafts exports, with a CAGR of +5.0% from 2012 to 2022. At the same time, Belarus (+2.5%) and Slovakia (+1.2%) displayed positive paces of growth. Hungary experienced a relatively flat trend pattern. By contrast, Russia (-2.8%), the Czech Republic (-12.1%) and Romania (-18.6%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Poland, Slovakia and Hungary increased by +27, +7.4 and +4.2 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Poland ($X), Hungary ($X) and Slovakia ($X) appeared to be the countries with the highest levels of exports in 2022, with a combined 76% share of total exports.

Among the main exporting countries, Poland, with a CAGR of +8.9%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in Eastern Europe amounted to $X per ton, increasing by 2.6% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +5.2%. The pace of growth was the most pronounced in 2013 when the export price increased by 24%. The level of export peaked in 2022 and is likely to see gradual growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Hungary ($X per ton), while the Czech Republic ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Romania (+13.9%), while the other leaders experienced more modest paces of growth.

Cranks And Crankshafts Imports

Imports in Eastern Europe

In 2022, overseas purchases of cranks and crankshafts increased by 9.1% to X tons, rising for the second year in a row after three years of decline. Over the period under review, imports, however, showed a slight contraction. The pace of growth appeared the most rapid in 2016 when imports increased by 12% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, cranks and crankshafts imports stood at $X in 2022. The total import value increased at an average annual rate of +1.8% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The pace of growth was the most pronounced in 2017 when imports increased by 13% against the previous year. The level of import peaked in 2022 and is likely to continue growth in the near future.

Imports by Country

In 2022, Poland (X tons) and Hungary (X tons) represented the major importers of cranks and crankshafts in Eastern Europe, together amounting to approx. 55% of total imports. It was distantly followed by Slovakia (X tons), Russia (X tons), Romania (X tons) and the Czech Republic (X tons), together creating a 41% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Hungary (with a CAGR of +7.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Poland ($X), Hungary ($X) and Russia ($X) constituted the countries with the highest levels of imports in 2022, together comprising 68% of total imports.

Poland, with a CAGR of +3.7%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Eastern Europe stood at $X per ton in 2022, with a decrease of -7.5% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.0%. The growth pace was the most rapid in 2013 when the import price increased by 26%. The level of import peaked at $X per ton in 2021, and then reduced in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Russia ($X per ton), while Romania ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Slovakia (+14.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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