Eastern Europe: Market for Lifts, Elevators, Moving Stairways and Draglines 2024

Market Size for Lifts, Elevators, Moving Stairways and Draglines in Eastern Europe

The East European market for lifts, elevators, moving stairways and draglines skyrocketed to $X in 2022, rising by 48% against the previous year. Over the period under review, consumption continues to indicate a prominent expansion. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Production of Lifts, Elevators, Moving Stairways and Draglines in Eastern Europe

In value terms, lift, elevator, stairway and dragline production expanded to $X in 2022 estimated in export price. In general, production saw a remarkable increase. The most prominent rate of growth was recorded in 2016 with an increase of 38% against the previous year. Over the period under review, production attained the maximum level in 2022 and is likely to see gradual growth in years to come.

Exports of Lifts, Elevators, Moving Stairways and Draglines

Exports in Eastern Europe

For the fourth consecutive year, Eastern Europe recorded growth in shipments abroad of lifts, elevators, moving stairways and draglines, which increased by 13% to X units in 2022. In general, exports recorded prominent growth. The most prominent rate of growth was recorded in 2013 when exports increased by 69%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.

In value terms, lift, elevator, stairway and dragline exports soared to $X in 2022. Total exports indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +9.7% 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 +80.6% against 2015 indices. The pace of growth was the most pronounced in 2013 with an increase of 65%. Over the period under review, the exports reached the peak figure in 2022 and are likely to continue growth in the immediate term.

Exports by Country

In 2022, Slovakia (X units) represented the largest exporter of lifts, elevators, moving stairways and draglines, committing 54% of total exports. Belarus (X units) took a 19% share (based on physical terms) of total exports, which put it in second place, followed by Poland (9.9%) and the Czech Republic (6.4%). The following exporters - Latvia (X units), Lithuania (X units) and Estonia (X units) - together made up 7% of total exports.

Slovakia was also the fastest-growing in terms of the lifts, elevators, moving stairways and draglines exports, with a CAGR of +28.1% from 2012 to 2022. At the same time, Latvia (+20.1%), Poland (+18.1%), Lithuania (+9.3%), the Czech Republic (+3.3%), Belarus (+3.2%) and Estonia (+2.0%) displayed positive paces of growth. From 2012 to 2022, the share of Slovakia, Poland and Latvia increased by +40, +4.1 and +1.5 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Slovakia ($X) remains the largest lift, elevator, stairway and dragline supplier in Eastern Europe, comprising 59% of total exports. The second position in the ranking was taken by Belarus ($X), with a 14% share of total exports. It was followed by Poland, with a 9.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Slovakia amounted to +22.9%. In the other countries, the average annual rates were as follows: Belarus (-0.9% per year) and Poland (+13.9% per year).

Export Prices by Country

In 2022, the export price in Eastern Europe amounted to $X per unit, with an increase of 3.2% against the previous year. Overall, the export price, however, recorded a pronounced downturn. The most prominent rate of growth was recorded in 2014 an increase of 5.1%. As a result, the export price attained the peak level of $X per unit. From 2015 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 the Czech Republic ($X per unit), while Belarus ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Estonia (-0.2%), while the other leaders experienced a decline in the export price figures.

Imports of Lifts, Elevators, Moving Stairways and Draglines

Imports in Eastern Europe

After two years of growth, overseas purchases of lifts, elevators, moving stairways and draglines decreased by -16.5% to X units in 2022. Overall, imports recorded a pronounced shrinkage. The growth pace was the most rapid in 2016 with an increase of 23%. The volume of import peaked at X units in 2013; however, from 2014 to 2022, imports remained at a lower figure.

In value terms, lift, elevator, stairway and dragline imports dropped to $X in 2022. In general, imports recorded a noticeable setback. The growth pace was the most rapid in 2016 with an increase of 36% against the previous year. Over the period under review, imports attained the peak figure at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

Russia was the key importing country with an import of about X units, which reached 51% of total imports. Poland (X units) ranks second in terms of the total imports with a 17% share, followed by the Czech Republic (6.3%) and Romania (6.1%). The following importers - Ukraine (X units), Slovakia (X units) and Bulgaria (X units) - together made up 11% of total imports.

From 2012 to 2022, average annual rates of growth with regard to lift, elevator, stairway and dragline imports into Russia stood at -5.8%. At the same time, Romania (+11.2%), Bulgaria (+7.1%), Poland (+5.4%), the Czech Republic (+2.0%) and Slovakia (+1.5%) displayed positive paces of growth. Moreover, Romania emerged as the fastest-growing importer imported in Eastern Europe, with a CAGR of +11.2% from 2012-2022. Ukraine experienced a relatively flat trend pattern. While the share of Poland (+9.3 p.p.), Romania (+4.4 p.p.), the Czech Republic (+2.3 p.p.) and Bulgaria (+1.9 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Russia (-21.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Russia ($X) constitutes the largest market for imported lifts, elevators, moving stairways and draglines in Eastern Europe, comprising 46% of total imports. The second position in the ranking was taken by Poland ($X), with a 19% share of total imports. It was followed by the Czech Republic, with a 7.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Russia totaled -4.3%. In the other countries, the average annual rates were as follows: Poland (+2.6% per year) and the Czech Republic (-1.3% per year).

Import Prices by Country

The import price in Eastern Europe stood at $X per unit in 2022, growing by 8.2% against the previous year. Overall, the import price showed a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the import price increased by 14%. As a result, import price reached the peak level of $X per unit. From 2018 to 2022, the import prices remained at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Russia (+1.6%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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