Eastern Europe: Lifting Equipment Market 2024

Lifting Equipment Market Size in Eastern Europe

The East European lifting equipment market stood at $X in 2021, surging by 6.9% against the previous year. Overall, consumption recorded a perceptible contraction. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Lifting Equipment Production in Eastern Europe

In value terms, lifting equipment production expanded significantly to $X in 2021 estimated in export price. Over the period under review, production continues to indicate a pronounced setback. The most prominent rate of growth was recorded in 2019 when the production volume increased by 25% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Lifting Equipment Exports

Exports in Eastern Europe

In 2021, shipments abroad of lifting equipment increased by 17% to X units for the first time since 2018, thus ending a two-year declining trend. Over the period under review, exports, however, showed a pronounced decline. The most prominent rate of growth was recorded in 2018 when exports increased by 154%. As a result, the exports attained the peak of X units. From 2019 to 2021, the growth of the exports failed to regain momentum.

In value terms, lifting equipment exports amounted to $X in 2021. Overall, exports, however, continue to indicate a pronounced reduction. The most prominent rate of growth was recorded in 2018 when exports increased by 65% against the previous year. As a result, the exports attained the peak of $X. From 2019 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

In 2021, the Czech Republic (X units) and Poland (X units) represented the largest exporters of lifting equipment in Eastern Europe, together generating 55% of total exports. It was distantly followed by Lithuania (X units), Russia (X units), Estonia (X units) and Romania (X units), together mixing up a 38% share of total exports. Belarus (X units) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Lithuania (with a CAGR of +19.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest lifting equipment supplying countries in Eastern Europe were Poland ($X), the Czech Republic ($X) and Estonia ($X), with a combined 78% share of total exports. These countries were followed by Russia, Lithuania, Romania and Belarus, which together accounted for a further 17%.

In terms of the main exporting countries, Lithuania, with a CAGR of +13.6%, 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 2021, the export price in Eastern Europe amounted to $X per unit, waning by -4.5% against the previous year. Over the period under review, the export price recorded a pronounced shrinkage. The growth pace was the most rapid in 2019 an increase of 37%. Over the period under review, the export prices reached the maximum at $X per unit in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Estonia ($X per unit), while Romania ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Russia (+6.5%), while the other leaders experienced mixed trends in the export price figures.

Lifting Equipment Imports

Imports in Eastern Europe

In 2021, after two years of decline, there was significant growth in supplies from abroad of lifting equipment, when their volume increased by 23% to X units. Over the period under review, imports continue to indicate a temperate expansion. The pace of growth was the most pronounced in 2013 with an increase of 76%. As a result, imports attained the peak of X units. From 2014 to 2021, the growth of imports failed to regain momentum.

In value terms, lifting equipment imports skyrocketed to $X in 2021. Total imports indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +8.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +134.4% against 2016 indices. The pace of growth was the most pronounced in 2013 with an increase of 97%. Over the period under review, imports reached the peak figure in 2021 and are expected to retain growth in the immediate term.

Imports by Country

Russia dominates imports structure, resulting at X units, which was near 74% of total imports in 2021. Poland (X units) took a 6% share (based on physical terms) of total imports, which put it in second place, followed by Belarus (5.3%). Lithuania (X units), Romania (X units), the Czech Republic (X units) and Estonia (X units) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to lifting equipment imports into Russia stood at +11.7%. At the same time, Poland (+13.8%), Lithuania (+6.1%) and the Czech Republic (+5.5%) displayed positive paces of growth. Moreover, Poland emerged as the fastest-growing importer imported in Eastern Europe, with a CAGR of +13.8% from 2012-2021. Belarus experienced a relatively flat trend pattern. By contrast, Estonia (-6.5%) and Romania (-13.2%) illustrated a downward trend over the same period. While the share of Russia (+38 p.p.) and Poland (+3.5 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Belarus (-1.7 p.p.), Estonia (-3 p.p.) and Romania (-12.5 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Russia ($X) constitutes the largest market for imported lifting equipment in Eastern Europe, comprising 61% of total imports. The second position in the ranking was taken by Poland ($X), with a 14% share of total imports. It was followed by Romania, with a 6.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Russia amounted to +24.0%. The remaining importing countries recorded the following average annual rates of imports growth: Poland (+12.2% per year) and Romania (-9.0% per year).

Import Prices by Country

In 2021, the import price in Eastern Europe amounted to $X per unit, picking up by 3.5% against the previous year. Over the period under review, the import price recorded resilient growth. The growth pace was the most rapid in 2015 an increase of 84%. As a result, import price attained the peak level of $X per unit. From 2016 to 2021, the import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belarus (+13.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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