Eastern Europe: Market for Grinding And Sharpening Metal Finishing Machines 2024

Market Size for Grinding And Sharpening Metal Finishing Machines in Eastern Europe

In 2022, the East European grinding and sharpening machine market increased by 5.3% to $X, rising for the sixth year in a row after three years of decline. The total consumption indicated a temperate increase from 2012 to 2022: its value increased at an average annual rate of +3.0% 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 +88.7% against 2016 indices. Over the period under review, the market reached the peak level in 2022 and is expected to retain growth in years to come.

Production of Grinding And Sharpening Metal Finishing Machines in Eastern Europe

In value terms, grinding and sharpening machine production amounted to $X in 2022 estimated in export price. In general, production, however, showed a buoyant increase. The pace of growth appeared the most rapid in 2018 when the production volume increased by 223%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Exports of Grinding And Sharpening Metal Finishing Machines

Exports in Eastern Europe

In 2022, after four years of growth, there was significant decline in overseas shipments of grinding and sharpening metal finishing machines, when their volume decreased by -23.2% to X units. Overall, exports, however, recorded a resilient expansion. The growth pace was the most rapid in 2021 when exports increased by 62%. As a result, the exports reached the peak of X units, and then reduced sharply in the following year.

In value terms, grinding and sharpening machine exports reduced remarkably to $X in 2022. Over the period under review, exports faced a abrupt downturn. The pace of growth appeared the most rapid in 2021 with an increase of 28% against the previous year. Over the period under review, the exports reached the maximum at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

In 2022, Poland (X units), the Czech Republic (X units), Belarus (X units), Russia (X units) and Slovakia (X units) was the largest exporter of grinding and sharpening metal finishing machines in Eastern Europe, constituting 91% of total export. The following exporters - Estonia (X units) and Bulgaria (X units) - each finished at a 3.8% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Belarus (with a CAGR of +42.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest grinding and sharpening machine supplying countries in Eastern Europe were the Czech Republic ($X), Poland ($X) and Belarus ($X), together accounting for 72% of total exports. Russia, Slovakia, Bulgaria and Estonia lagged somewhat behind, together comprising a further 19%.

Estonia, with a CAGR of +27.6%, saw the highest growth rate of the value of exports, in terms of 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, surging by 9.9% against the previous year. Overall, the export price, however, continues to indicate a dramatic curtailment. The pace of growth appeared the most rapid in 2015 an increase of 23% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2016 to 2022, the export prices remained at a lower figure.

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 Bulgaria ($X per unit), while Slovakia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Estonia (-2.5%), while the other leaders experienced a decline in the export price figures.

Imports of Grinding And Sharpening Metal Finishing Machines

Imports in Eastern Europe

After two years of growth, purchases abroad of grinding and sharpening metal finishing machines decreased by -9.2% to X units in 2022. Total imports indicated a temperate increase from 2012 to 2022: its volume increased at an average annual rate of +2.4% 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 +91.5% against 2016 indices. The growth pace was the most rapid in 2017 when imports increased by 34% against the previous year. Over the period under review, imports reached the peak figure at X units in 2021, and then reduced in the following year.

In value terms, grinding and sharpening machine imports declined to $X in 2022. In general, imports recorded a abrupt curtailment. The pace of growth appeared the most rapid in 2018 when imports increased by 22%. Over the period under review, imports attained the peak figure at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Russia was the largest importing country with an import of around X units, which amounted to 44% of total imports. Poland (X units) ranks second in terms of the total imports with a 15% share, followed by the Czech Republic (12%), Ukraine (6.3%), Romania (5.9%) and Belarus (4.8%). Hungary (X units) followed a long way behind the leaders.

Russia experienced a relatively flat trend pattern with regard to volume of imports of grinding and sharpening metal finishing machines. At the same time, Belarus (+20.1%), Romania (+11.8%), Hungary (+11.8%), the Czech Republic (+6.2%), Ukraine (+2.9%) and Poland (+2.1%) displayed positive paces of growth. Moreover, Belarus emerged as the fastest-growing importer imported in Eastern Europe, with a CAGR of +20.1% from 2012-2022. While the share of Belarus (+3.8 p.p.), the Czech Republic (+3.8 p.p.), Romania (+3.4 p.p.) and Hungary (+2.3 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Russia (-15.9 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Russia ($X) constitutes the largest market for imported grinding and sharpening metal finishing machines in Eastern Europe, comprising 39% of total imports. The second position in the ranking was held by Poland ($X), with an 18% share of total imports. It was followed by the Czech Republic, with a 13% share.

From 2012 to 2022, the average annual growth rate of value in Russia amounted to -7.3%. In the other countries, the average annual rates were as follows: Poland (-3.8% per year) and the Czech Republic (-9.6% per year).

Import Prices by Country

The import price in Eastern Europe stood at $X per unit in 2022, picking up by 5.6% against the previous year. Overall, the import price, however, showed a deep reduction. The most prominent rate of growth was recorded in 2014 when the import price increased by 34%. Over the period under review, import prices attained the peak figure at $X per unit in 2015; however, from 2016 to 2022, import prices remained at a lower figure.

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 Hungary ($X per unit), while Ukraine ($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 (-5.8%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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