Eastern Europe: Ship Propeller Market 2025

Ship Propeller Market Size in Eastern Europe

The East European ship propeller market skyrocketed to $X in 2022, jumping by 16% against the previous year. Overall, consumption, however, continues to indicate a relatively flat trend pattern. Over the period under review, the market attained the maximum level at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Ship Propeller Production in Eastern Europe

In value terms, ship propeller production expanded rapidly to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a pronounced decrease. The growth pace was the most rapid in 2020 when the production volume increased by 44%. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

Ship Propeller Exports

Exports in Eastern Europe

In 2022, shipments abroad of ships’ or boats’ propellers and blades therefor decreased by -21.3% to X tons for the first time since 2019, thus ending a two-year rising trend. Overall, exports, however, enjoyed a resilient expansion. The pace of growth appeared the most rapid in 2021 when exports increased by 140%. As a result, the exports reached the peak of X tons, and then fell rapidly in the following year.

In value terms, ship propeller exports declined to $X in 2022. Over the period under review, exports, however, continue to indicate a mild expansion. The most prominent rate of growth was recorded in 2021 with an increase of 164% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

In 2022, Russia (X tons), Poland (X tons), Hungary (X tons) and Bulgaria (X tons) represented the major exporter of ships’ or boats’ propellers and blades therefor in Eastern Europe, constituting 93% of total export. The following exporters - Latvia (X tons) and Belarus (X tons) - each resulted at a 5.5% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Belarus (with a CAGR of +75.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Russia ($X), Poland ($X) and Bulgaria ($X) were the countries with the highest levels of exports in 2022, with a combined 82% share of total exports. Hungary, Latvia and Belarus lagged somewhat behind, together comprising a further 16%.

Belarus, with a CAGR of +47.0%, 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 2022, the export price in Eastern Europe amounted to $X per ton, increasing by 11% against the previous year. In general, the export price, however, continues to indicate a pronounced contraction. The level of export peaked at $X per ton in 2017; however, from 2018 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 Latvia ($X per ton), while Belarus ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Latvia (+2.8%), while the other leaders experienced mixed trends in the export price figures.

Ship Propeller Imports

Imports in Eastern Europe

In 2022, supplies from abroad of ships’ or boats’ propellers and blades therefor increased by 1.7% to X tons, rising for the third consecutive year after three years of decline. Over the period under review, imports continue to indicate a moderate expansion. The most prominent rate of growth was recorded in 2021 when imports increased by 91%. The volume of import peaked in 2022 and is likely to see gradual growth in the immediate term.

In value terms, ship propeller imports declined dramatically to $X in 2022. Total imports indicated a tangible expansion from 2012 to 2022: its value 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 +72.0% against 2019 indices. The growth pace was the most rapid in 2016 when imports increased by 53%. The level of import peaked at $X in 2021, and then declined rapidly in the following year.

Imports by Country

Russia (X tons) and Poland (X tons) were the key importers of ships’ or boats’ propellers and blades therefor in 2022, accounting for approx. 42% and 30% of total imports, respectively. Hungary (X tons) ranks next in terms of the total imports with an 11% share, followed by Romania (6.8%) and Latvia (6.2%). Estonia (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Hungary (with a CAGR of +66.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest ship propeller importing markets in Eastern Europe were Russia ($X), Poland ($X) and Latvia ($X), with a combined 85% share of total imports. Hungary, Romania and Estonia lagged somewhat behind, together comprising a further 8.7%.

Among the main importing countries, Hungary, with a CAGR of +34.7%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Eastern Europe amounted to $X per ton, shrinking by -17.4% against the previous year. In general, the import price recorded a noticeable curtailment. The most prominent rate of growth was recorded in 2014 an increase of 24%. Over the period under review, import prices reached the maximum at $X per ton in 2020; however, from 2021 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 Estonia ($X per ton), while Hungary ($X per ton) 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 import price figures.

Source: IndexBox Platform

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