Eastern Europe: Gear Box Market 2024

Gear Box Market Size in Eastern Europe

In 2022, the East European gear box market increased by 2.5% to $X, rising for the second year in a row after two years of decline. The total consumption indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +5.1% 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 +3.8% against 2020 indices. The level of consumption peaked at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Gear Box Production in Eastern Europe

In value terms, gear box production declined to $X in 2022 estimated in export price. The total production indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +5.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +2.3% against 2020 indices. The most prominent rate of growth was recorded in 2017 when the production volume increased by 27% against the previous year. As a result, production attained the peak level of $X. From 2018 to 2022, production growth remained at a lower figure.

Gear Box Exports

Exports in Eastern Europe

In 2022, exports of gear boxes in Eastern Europe expanded significantly to X units, with an increase of 10% on the previous year's figure. Total exports indicated a buoyant increase from 2012 to 2022: its volume increased at an average annual rate of +6.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +16.2% against 2020 indices. The most prominent rate of growth was recorded in 2017 with an increase of 27%. The volume of export peaked in 2022 and is expected to retain growth in the immediate term.

In value terms, gear box exports expanded to $X in 2022. In general, exports showed strong growth. The most prominent rate of growth was recorded in 2017 when exports increased by 30% against the previous year. The level of export peaked in 2022 and is likely to see steady growth in years to come.

Exports by Country

In 2022, Romania (X units), distantly followed by Hungary (X units), Poland (X units), the Czech Republic (X units) and Slovakia (X units) were the largest exporters of gear boxes, together committing 96% of total exports. Russia (X units) held a relatively small 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 Romania (with a CAGR of +19.5%), while the other leaders experienced more modest paces of growth.

In value terms, Romania ($X) remains the largest gear box supplier in Eastern Europe, comprising 38% of total exports. The second position in the ranking was held by Hungary ($X), with an 18% share of total exports. It was followed by Poland, with a 15% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Romania stood at +25.1%. In the other countries, the average annual rates were as follows: Hungary (+9.8% per year) and Poland (+3.7% per year).

Export Prices by Country

In 2022, the export price in Eastern Europe amounted to $X per unit, which is down by -5.3% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.0%. The pace of growth was the most pronounced in 2013 an increase of 19%. The level of export peaked at $X per unit in 2021, and then fell in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+5.7%), while the other leaders experienced more modest paces of growth.

Gear Box Imports

Imports in Eastern Europe

In 2022, approx. X units of gear boxes were imported in Eastern Europe; picking up by 5.5% on 2021 figures. Total imports indicated resilient growth from 2012 to 2022: its volume increased at an average annual rate of +5.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +12.9% against 2020 indices. The pace of growth was the most pronounced in 2013 when imports increased by 18% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are likely to see steady growth in years to come.

In value terms, gear box imports totaled $X in 2022. Total imports indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of +5.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +14.5% against 2020 indices. The growth pace was the most rapid in 2018 when imports increased by 25%. Over the period under review, imports attained the maximum in 2022 and are likely to see gradual growth in years to come.

Imports by Country

Slovakia (X units), Romania (X units), the Czech Republic (X units), Russia (X units) and Hungary (X units) represented roughly 90% of total imports in 2022. It was distantly followed by Poland (X units), comprising an 8.8% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Romania (with a CAGR of +20.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Slovakia ($X), Romania ($X) and Russia ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined 57% share of total imports.

In terms of the main importing countries, Romania, with a CAGR of +22.9%, 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

In 2022, the import price in Eastern Europe amounted to $X per unit, which is down by -2.5% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 an increase of 12% against the previous year. The level of import peaked at $X per unit in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Average prices varied noticeably amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Russia ($X per unit) and Romania ($X per unit), while the Czech Republic ($X per unit) and Slovakia ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Romania (+1.9%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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