Eastern Europe: Spark Plug Market 2024

Spark Plug Market Size in Eastern Europe

The East European spark plug market dropped notably to $X in 2022, which is down by -31.2% against the previous year. Overall, consumption recorded a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market failed to regain momentum.

Spark Plug Production in Eastern Europe

In value terms, spark plug production rose rapidly to $X in 2022 estimated in export price. The total production indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +5.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -7.6% against 2020 indices. The most prominent rate of growth was recorded in 2020 with an increase of 43%. As a result, production reached the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

Spark Plug Exports

Exports in Eastern Europe

In 2022, shipments abroad of sparking plugs increased by 20% to X units, rising for the second year in a row after three years of decline. Total exports indicated a buoyant expansion from 2012 to 2022: its volume increased at an average annual rate of +7.2% 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 +83.3% against 2020 indices. The pace of growth was the most pronounced in 2021 when exports increased by 53% against the previous year. The volume of export peaked in 2022 and is expected to retain growth in the immediate term.

In value terms, spark plug exports declined modestly to $X in 2022. Overall, exports posted resilient growth. The growth pace was the most rapid in 2021 when exports increased by 50%. As a result, the exports reached the peak of $X, and then contracted slightly in the following year.

Exports by Country

Russia (X units) and the Czech Republic (X units) were the largest exporters of sparking plugs in 2022, resulting at near 37% and 25% of total exports, respectively. It was distantly followed by Poland (X units) and Hungary (X units), together comprising a 25% share of total exports. Lithuania (X units), Latvia (X units) and Bulgaria (X units) held a little share of total exports.

From 2012 to 2022, the biggest increases were recorded for Bulgaria (with a CAGR of +30.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest spark plug supplying countries in Eastern Europe were Russia ($X), the Czech Republic ($X) and Poland ($X), with a combined 79% share of total exports. Hungary, Lithuania, Latvia and Bulgaria lagged somewhat behind, together comprising a further 14%.

Among the main exporting countries, Bulgaria, with a CAGR of +30.8%, saw the highest growth rate of 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

The export price in Eastern Europe stood at $X per unit in 2022, with a decrease of -20.3% against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the export price increased by 30%. Over the period under review, the export prices attained the peak figure at $X per unit in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Russia ($X per unit) and the Czech Republic ($X per unit), while Lithuania ($X per unit) and Latvia ($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 (+1.4%), while the other leaders experienced more modest paces of growth.

Spark Plug Imports

Imports in Eastern Europe

Spark plug imports fell to X units in 2022, reducing by -14.3% on the previous year's figure. In general, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of 81%. Over the period under review, imports hit record highs at X units in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, spark plug imports fell to $X in 2022. Total imports indicated measured growth from 2012 to 2022: its value increased at an average annual rate of +3.6% 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 +14.7% against 2020 indices. The pace of growth appeared the most rapid in 2016 when imports increased by 56%. The level of import peaked at $X in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Russia (X units) was the largest importer of sparking plugs, achieving 52% of total imports. It was distantly followed by Poland (X units), Hungary (X units) and the Czech Republic (X units), together comprising a 31% share of total imports. The following importers - Romania (X units), Belarus (X units) and Ukraine (X units) - together made up 9% of total imports.

Russia experienced a relatively flat trend pattern with regard to volume of imports of sparking plugs. At the same time, Belarus (+6.0%) displayed positive paces of growth. Moreover, Belarus emerged as the fastest-growing importer imported in Eastern Europe, with a CAGR of +6.0% from 2012-2022. Poland experienced a relatively flat trend pattern. By contrast, Romania (-1.2%), the Czech Republic (-1.9%), Ukraine (-5.3%) and Hungary (-5.8%) illustrated a downward trend over the same period. While the share of Russia (+4.3 p.p.) and Belarus (+1.6 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Hungary (-5.4 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Russia ($X), Poland ($X) and Hungary ($X) constituted the countries with the highest levels of imports in 2022, together comprising 70% of total imports.

In terms of the main importing countries, Poland, with a CAGR of +6.7%, recorded 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 unit, with an increase of 6.3% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +4.4%. The most prominent rate of growth was recorded in 2018 when the import price increased by 29%. The level of import peaked in 2022 and is likely to see steady growth in the immediate term.

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 Romania ($X per unit), while Russia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Romania (+7.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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