Eastern Europe: Machinery Electrical Parts Market 2024

Machinery Electrical Parts Market Size in Eastern Europe

The East European machinery electrical parts market declined slightly to $X in 2022, dropping by -4.9% against the previous year. Overall, consumption continues to indicate a abrupt curtailment. As a result, consumption attained the peak level of $X. From 2014 to 2022, the growth of the market failed to regain momentum.

Machinery Electrical Parts Production in Eastern Europe

In value terms, machinery electrical parts production fell to $X in 2022 estimated in export price. Over the period under review, production saw a mild contraction. The pace of growth was the most pronounced in 2013 with an increase of 33%. As a result, production attained the peak level of $X. From 2014 to 2022, production growth failed to regain momentum.

Machinery Electrical Parts Exports

Exports in Eastern Europe

After three years of growth, overseas shipments of electrical parts of machinery or apparatus decreased by -6.4% to X tons in 2022. Overall, exports, however, posted a strong expansion. The most prominent rate of growth was recorded in 2020 with an increase of 77%. The volume of export peaked at X tons in 2021, and then fell in the following year.

In value terms, machinery electrical parts exports expanded to $X in 2022. Over the period under review, exports, however, saw a significant expansion. The pace of growth appeared the most rapid in 2020 when exports increased by 97%. As a result, the exports reached the peak of $X. From 2021 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

In 2022, Poland (X tons) was the largest exporter of electrical parts of machinery or apparatus, constituting 47% of total exports. It was distantly followed by Slovakia (X tons), the Czech Republic (X tons), Bulgaria (X tons), Romania (X tons) and Hungary (X tons), together constituting a 47% share of total exports. Lithuania (X tons) held a relatively small share of total exports.

From 2012 to 2022, average annual rates of growth with regard to machinery electrical parts exports from Poland stood at +39.5%. At the same time, Lithuania (+49.3%), Romania (+15.0%), Slovakia (+11.8%), the Czech Republic (+6.5%), Bulgaria (+5.9%) and Hungary (+3.3%) displayed positive paces of growth. Moreover, Lithuania emerged as the fastest-growing exporter exported in Eastern Europe, with a CAGR of +49.3% from 2012-2022. While the share of Poland (+41 p.p.) and Lithuania (+3 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Slovakia (-3.8 p.p.), Hungary (-7.4 p.p.), the Czech Republic (-7.5 p.p.) and Bulgaria (-7.7 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Poland ($X) remains the largest machinery electrical parts supplier in Eastern Europe, comprising 48% of total exports. The second position in the ranking was taken by the Czech Republic ($X), with a 22% share of total exports. It was followed by Slovakia, with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Poland stood at +41.0%. In the other countries, the average annual rates were as follows: the Czech Republic (+17.3% per year) and Slovakia (+16.6% per year).

Export Prices by Country

In 2022, the export price in Eastern Europe amounted to $X per ton, picking up by 9.4% against the previous year. Overall, the export price posted prominent growth. The most prominent rate of growth was recorded in 2019 an increase of 65% against the previous year. The level of export peaked in 2022 and is likely to continue growth in the near future.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the Czech Republic ($X per ton), while Bulgaria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Czech Republic (+10.1%), while the other leaders experienced more modest paces of growth.

Machinery Electrical Parts Imports

Imports in Eastern Europe

In 2022, approx. X tons of electrical parts of machinery or apparatus were imported in Eastern Europe; with a decrease of -17.1% against the year before. Over the period under review, imports, however, continue to indicate a strong expansion. The pace of growth was the most pronounced in 2014 with an increase of 65% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, machinery electrical parts imports shrank to $X in 2022. In general, imports, however, recorded a resilient expansion. The pace of growth appeared the most rapid in 2015 when imports increased by 79% against the previous year. Over the period under review, imports attained the maximum at $X in 2021, and then declined in the following year.

Imports by Country

In 2022, Poland (X tons) represented the main importer of electrical parts of machinery or apparatus, comprising 49% of total imports. It was distantly followed by Hungary (X tons), Slovakia (X tons) and Romania (X tons), together achieving a 43% share of total imports. The Czech Republic (X tons) held a relatively small share of total imports.

Imports into Poland increased at an average annual rate of +7.8% from 2012 to 2022. At the same time, Slovakia (+26.4%), Hungary (+18.6%) and Romania (+10.8%) displayed positive paces of growth. Moreover, Slovakia emerged as the fastest-growing importer imported in Eastern Europe, with a CAGR of +26.4% from 2012-2022. By contrast, the Czech Republic (-5.1%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Slovakia and Hungary increased by +14 and +9.9 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Hungary ($X), Poland ($X) and Slovakia ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined 77% share of total imports.

Slovakia, with a CAGR of +27.2%, 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

In 2022, the import price in Eastern Europe amounted to $X per ton, surging by 13% against the previous year. Import price indicated measured growth from 2012 to 2022: its price increased at an average annual rate of +3.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 an increase of 83% against the previous year. Over the period under review, import prices hit record highs in 2022 and is expected to retain growth in years to come.

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 the Czech Republic ($X per ton), while Poland ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+12.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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