Eastern Europe: Market for Industrial, Laboratory or Bakery Ovens 2024

Market Size for Industrial, Laboratory or Bakery Ovens in Eastern Europe

The East European market for industrial, laboratory or bakery ovens contracted to $X in 2022, falling by -9.1% against the previous year. The total consumption indicated a modest expansion from 2012 to 2022: its value increased at an average annual rate of +1.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +102.5% against 2016 indices. Over the period under review, the market reached the peak level at $X in 2021, and then reduced in the following year.

Production of Industrial, Laboratory or Bakery Ovens in Eastern Europe

In value terms, industrial, laboratory or bakery oven production skyrocketed to $X in 2022 estimated in export price. Over the period under review, production, however, saw a buoyant expansion. The most prominent rate of growth was recorded in 2017 when the production volume increased by 48% against the previous year. Over the period under review, production attained the maximum level in 2022 and is likely to continue growth in the near future.

Exports of Industrial, Laboratory or Bakery Ovens

Exports in Eastern Europe

In 2022, shipments abroad of industrial, laboratory or bakery ovens decreased by -14.4% to X units, falling for the second year in a row after three years of growth. In general, exports continue to indicate a perceptible curtailment. The pace of growth appeared the most rapid in 2018 with an increase of 25% against the previous year. Over the period under review, the exports attained the peak figure at X units in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, industrial, laboratory or bakery oven exports dropped to $X in 2022. Total exports indicated notable growth from 2012 to 2022: its value increased at an average annual rate of +4.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2018 when exports increased by 47% against the previous year. Over the period under review, the exports reached the maximum at $X in 2021, and then declined in the following year.

Exports by Country

The Czech Republic was the key exporting country with an export of around X units, which reached 54% of total exports. Lithuania (X units) took a 33% share (based on physical terms) of total exports, which put it in second place, followed by Poland (5.8%). The following exporters - Bulgaria (X units) and Estonia (X units) - each reached a 4.5% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Bulgaria (with a CAGR of +10.9%), while the other leaders experienced more modest paces of growth.

In value terms, the Czech Republic ($X), Poland ($X) and Lithuania ($X) appeared to be the countries with the highest levels of exports in 2022, with a combined 93% share of total exports.

Poland, with a CAGR of +13.9%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Eastern Europe stood at $X per unit in 2022, remaining relatively unchanged against the previous year. Over the period under review, the export price enjoyed resilient growth. The most prominent rate of growth was recorded in 2014 when the export price increased by 57% against the previous year. Over the period under review, the export prices hit record highs at $X per unit in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Poland ($X per unit), while Bulgaria ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+13.3%), while the other leaders experienced more modest paces of growth.

Imports of Industrial, Laboratory or Bakery Ovens

Imports in Eastern Europe

After five years of growth, purchases abroad of industrial, laboratory or bakery ovens decreased by -13.3% to X units in 2022. Over the period under review, imports, however, showed resilient growth. The pace of growth was the most pronounced in 2018 with an increase of 47%. Over the period under review, imports reached the peak figure at X units in 2021, and then dropped in the following year.

In value terms, industrial, laboratory or bakery oven imports fell to $X in 2022. In general, imports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2015 when imports increased by 21%. As a result, imports attained the peak of $X. From 2016 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

Russia dominates imports structure, reaching X units, which was near 73% of total imports in 2022. Poland (X units) took a 6.7% share (based on physical terms) of total imports, which put it in second place, followed by Romania (5.3%). Lithuania (X units), Ukraine (X units), the Czech Republic (X units) and Hungary (X units) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to industrial, laboratory or bakery oven imports into Russia stood at +12.6%. At the same time, Lithuania (+19.2%), Romania (+11.9%), Poland (+11.7%), Hungary (+10.9%) and the Czech Republic (+5.4%) displayed positive paces of growth. Moreover, Lithuania emerged as the fastest-growing importer imported in Eastern Europe, with a CAGR of +19.2% from 2012-2022. By contrast, Ukraine (-5.8%) illustrated a downward trend over the same period. While the share of Russia (+15 p.p.) and Lithuania (+1.9 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Ukraine (-9.5 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Russia ($X) constitutes the largest market for imported industrial, laboratory or bakery ovens in Eastern Europe, comprising 47% of total imports. The second position in the ranking was held by Poland ($X), with a 12% share of total imports. It was followed by the Czech Republic, with a 7.6% share.

In Russia, industrial, laboratory or bakery oven imports declined by an average annual rate of -2.8% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Poland (+5.2% per year) and the Czech Republic (+0.6% per year).

Import Prices by Country

The import price in Eastern Europe stood at $X per unit in 2022, rising by 4.3% against the previous year. In general, the import price, however, recorded a abrupt slump. The most prominent rate of growth was recorded in 2015 an increase of 45% against the previous year. As a result, import price reached the peak level of $X per unit. From 2016 to 2022, the import prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the Czech Republic ($X per unit), while Russia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ukraine (-0.0%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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