Eastern Europe: Lock And Key Market 2024

Lock And Key Market Size in Eastern Europe

The East European lock and key market skyrocketed to $X in 2021, picking up by 21% against the previous year. The market value increased at an average annual rate of +4.5% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market reached the peak level in 2021 and is likely to see steady growth in years to come.

Lock And Key Production in Eastern Europe

In value terms, lock and key production fell rapidly to $X in 2021 estimated in export price. Overall, production saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of 51% against the previous year. As a result, production attained the peak level of $X. From 2018 to 2021, production growth remained at a somewhat lower figure.

Lock And Key Exports

Exports in Eastern Europe

In 2021, overseas shipments of padlocks, locks and keys of base metal were finally on the rise to reach X tons after two years of decline. The total export volume increased at an average annual rate of +5.4% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2017 when exports increased by 13%. Over the period under review, the exports hit record highs in 2021 and are likely to continue growth in the immediate term.

In value terms, lock and key exports surged to $X in 2021. The total export value increased at an average annual rate of +4.5% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, Poland (X tons), distantly followed by Slovakia (X tons), the Czech Republic (X tons), Romania (X tons), Hungary (X tons) and Russia (X tons) were the major exporters of padlocks, locks and keys of base metal, together making up 84% of total exports. Latvia (X tons) took a relatively small share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Latvia (with a CAGR of +23.5%), while the other leaders experienced more modest paces of growth.

In value terms, Poland ($X), the Czech Republic ($X) and Slovakia ($X) appeared to be the countries with the highest levels of exports in 2021, together comprising 68% of total exports. Romania, Hungary, Russia and Latvia lagged somewhat behind, together comprising a further 23%.

Latvia, with a CAGR of +26.0%, saw the highest rates of growth with regard to the value of exports, among 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

In 2021, the export price in Eastern Europe amounted to $X per ton, growing by 11% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. Over the period under review, the export prices reached the maximum at $X per ton in 2013; however, from 2014 to 2021, 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 Romania ($X per ton), while Slovakia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hungary (+2.7%), while the other leaders experienced more modest paces of growth.

Lock And Key Imports

Imports in Eastern Europe

For the sixth year in a row, Eastern Europe recorded growth in overseas purchases of padlocks, locks and keys of base metal, which increased by 14% to X tons in 2021. The total import volume increased at an average annual rate of +4.9% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, lock and key imports surged to $X in 2021. Total imports indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +5.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Poland (X tons) and Russia (X tons) represented the major importers of padlocks, locks and keys of base metal in Eastern Europe, together resulting at approx. 53% of total imports. The Czech Republic (X tons) ranks next in terms of the total imports with an 8.8% share, followed by Slovakia (8.4%), Romania (8.1%), Lithuania (5.2%) and Hungary (4.7%).

From 2012 to 2021, the biggest increases were recorded for Poland (with a CAGR of +6.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest lock and key importing markets in Eastern Europe were Poland ($X), Russia ($X) and the Czech Republic ($X), together accounting for 61% of total imports. These countries were followed by Slovakia, Romania, Hungary and Lithuania, which together accounted for a further 27%.

Lithuania, with a CAGR of +8.2%, saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Eastern Europe stood at $X per ton in 2021, surging by 10% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Hungary ($X per ton), while Lithuania ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hungary (+3.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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