Eastern Europe: Lift And Hoist Market 2024

Lift And Hoist Market Size in Eastern Europe

The East European lift and hoist market skyrocketed to $X in 2022, increasing by 55% against the previous year. The total consumption indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +5.6% 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 +70.9% against 2018 indices. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Lift And Hoist Production in Eastern Europe

In value terms, lift and hoist production rose rapidly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.9% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2017 when the production volume increased by 44% 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.

Lift And Hoist Exports

Exports in Eastern Europe

In 2022, the amount of lifts and hoists exported in Eastern Europe skyrocketed to X units, rising by 16% against the year before. Overall, exports saw buoyant growth. The growth pace was the most rapid in 2013 with an increase of 90% against the previous year. The volume of export peaked in 2022 and is likely to see gradual growth in the near future.

In value terms, lift and hoist exports surged to $X in 2022. In general, exports continue to indicate a resilient expansion. The pace of growth appeared the most rapid in 2013 when exports increased by 105%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.

Exports by Country

Slovakia was the major exporter of lifts and hoists in Eastern Europe, with the volume of exports amounting to X units, which was near 60% of total exports in 2022. Belarus (X units) held a 22% share (based on physical terms) of total exports, which put it in second place, followed by Poland (5.4%) and the Czech Republic (5.1%). Latvia (X units) and Lithuania (X units) followed a long way behind the leaders.

Slovakia was also the fastest-growing in terms of the lifts and hoists exports, with a CAGR of +73.2% from 2012 to 2022. At the same time, Latvia (+20.9%), Poland (+14.0%), Lithuania (+12.2%), the Czech Republic (+9.6%) and Belarus (+3.3%) displayed positive paces of growth. While the share of Slovakia (+59 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of the Czech Republic (-3.7 p.p.) and Belarus (-46 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Slovakia ($X) remains the largest lift and hoist supplier in Eastern Europe, comprising 64% of total exports. The second position in the ranking was taken by Belarus ($X), with a 16% share of total exports. It was followed by Poland, with a 5.7% share.

In Slovakia, lift and hoist exports increased at an average annual rate of +69.8% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Belarus (-0.8% per year) and Poland (+11.7% per year).

Export Prices by Country

In 2022, the export price in Eastern Europe amounted to $X per unit, surging by 4.4% against the previous year. In general, the export price, however, continues to indicate a slight descent. The pace of growth appeared the most rapid in 2013 when the export price increased by 7.6%. As a result, the export price attained the peak level of $X per unit. From 2014 to 2022, the export prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Slovakia (-2.0%), while the other leaders experienced a decline in the export price figures.

Lift And Hoist Imports

Imports in Eastern Europe

In 2022, the amount of lifts and hoists imported in Eastern Europe dropped to X units, declining by -7.3% compared with 2021. Total imports indicated a notable expansion from 2012 to 2022: its volume increased at an average annual rate of +2.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -12.2% against 2019 indices. The pace of growth was the most pronounced in 2016 with an increase of 74% against the previous year. The volume of import peaked at X units in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, lift and hoist imports dropped modestly to $X in 2022. Over the period under review, imports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2016 when imports increased by 58% against the previous year. Over the period under review, imports reached the peak figure at $X in 2013; however, from 2014 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 reached 48% of total imports. It was distantly followed by Poland (X units), Romania (X units) and the Czech Republic (X units), together comprising a 31% share of total imports. Ukraine (X units), Slovakia (X units), Hungary (X units), Bulgaria (X units), Belarus (X units) and Lithuania (X units) followed a long way behind the leaders.

Imports into Russia increased at an average annual rate of +1.5% from 2012 to 2022. At the same time, Hungary (+12.3%), Romania (+11.7%), Bulgaria (+8.2%), Slovakia (+6.5%) and Poland (+4.4%) displayed positive paces of growth. Moreover, Hungary emerged as the fastest-growing importer imported in Eastern Europe, with a CAGR of +12.3% from 2012-2022. The Czech Republic, Lithuania and Ukraine experienced a relatively flat trend pattern. By contrast, Belarus (-1.1%) illustrated a downward trend over the same period. While the share of Romania (+3.8 p.p.), Poland (+2.9 p.p.) and Hungary (+1.8 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Russia (-6 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Russia ($X) constitutes the largest market for imported lifts and hoists in Eastern Europe, comprising 47% of total imports. The second position in the ranking was held by Poland ($X), with a 19% share of total imports. It was followed by Romania, with a 6.8% share.

In Russia, lift and hoist imports plunged by an average annual rate of -2.4% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Poland (+2.6% per year) and Romania (+9.8% per year).

Import Prices by Country

The import price in Eastern Europe stood at $X per unit in 2022, with an increase of 2.8% against the previous year. Overall, the import price, however, saw a noticeable curtailment. The pace of growth appeared the most rapid in 2020 an increase of 6.4% against the previous year. The level of import peaked at $X per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Belarus ($X per unit) and Poland ($X per unit), while Russia ($X per unit) and Lithuania ($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 (-1.7%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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