Eastern Europe: Suspension System Market 2024

Suspension System Market Size in Eastern Europe

The East European suspension system market declined to $X in 2022, shrinking by -2.9% against the previous year. The total consumption indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +5.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -8.4% against 2017 indices. As a result, consumption attained the peak level of $X. From 2018 to 2022, the growth of the market failed to regain momentum.

Suspension System Production in Eastern Europe

In value terms, suspension system production fell to $X in 2022 estimated in export price. Overall, production enjoyed buoyant growth. The most prominent rate of growth was recorded in 2013 with an increase of 39%. Over the period under review, production hit record highs at $X in 2017; however, from 2018 to 2022, production remained at a lower figure.

Suspension System Exports

Exports in Eastern Europe

Suspension system exports amounted to X tons in 2022, almost unchanged from 2021. Total exports indicated a remarkable increase from 2012 to 2022: its volume increased at an average annual rate of +7.6% 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 +17.1% against 2020 indices. The growth pace was the most rapid in 2013 with an increase of 17%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the near future.

In value terms, suspension system exports expanded notably to $X in 2022. Total exports indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +9.0% 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 +38.0% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 26%. The level of export peaked in 2022 and is expected to retain growth in years to come.

Exports by Country

In 2022, Poland (X tons) and the Czech Republic (X tons) were the key exporters of suspension systems in Eastern Europe, together generating 67% of total exports. It was distantly followed by Slovakia (X tons) and Romania (X tons), together achieving a 22% share of total exports. Hungary (X tons) and Russia (X tons) took a relatively small share of total exports.

From 2012 to 2022, the biggest increases were recorded for Russia (with a CAGR of +11.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest suspension system supplying countries in Eastern Europe were Poland ($X), Slovakia ($X) and the Czech Republic ($X), together accounting for 83% of total exports. Romania, Hungary and Russia lagged somewhat behind, together comprising a further 14%.

Romania, with a CAGR of +12.7%, 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, surging by 8.3% against the previous year. Over the last decade, it increased at an average annual rate of +1.2%. The pace of growth appeared the most rapid in 2021 an increase of 8.8% against the previous year. Over the period under review, the export prices reached the maximum in 2022 and is likely to continue growth in years to come.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Romania ($X per ton), while the Czech Republic ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Romania (+4.1%), while the other leaders experienced more modest paces of growth.

Suspension System Imports

Imports in Eastern Europe

In 2022, approx. X tons of suspension systems were imported in Eastern Europe; approximately equating the previous year's figure. Total imports indicated moderate growth from 2012 to 2022: its volume increased at an average annual rate of +4.2% 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 +19.0% against 2020 indices. The most prominent rate of growth was recorded in 2017 with an increase of 20%. The volume of import peaked at X tons in 2021, and then contracted in the following year.

In value terms, suspension system imports fell to $X in 2022. Total imports indicated a temperate increase from 2012 to 2022: its value increased at an average annual rate of +3.8% 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 +23.1% against 2020 indices. The pace of growth was the most pronounced in 2021 when imports increased by 29%. As a result, imports reached the peak of $X, and then shrank in the following year.

Imports by Country

Russia (X tons) and Poland (X tons) were the key importers of suspension systems in 2022, amounting to approx. 29% and 25% of total imports, respectively. Slovakia (X tons) took a 14% share (based on physical terms) of total imports, which put it in second place, followed by the Czech Republic (12%), Romania (7.7%) and Hungary (5.2%). Belarus (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Hungary (with a CAGR of +10.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest suspension system importing markets in Eastern Europe were Russia ($X), Poland ($X) and Slovakia ($X), together comprising 68% of total imports.

Among the main importing countries, Slovakia, with a CAGR of +9.6%, recorded the highest rates of growth with regard to 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

The import price in Eastern Europe stood at $X per ton in 2022, which is down by -3.6% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of 7.3%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Slovakia (+3.4%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :