Estonia: Market for Vacuum Pumps and Air or Gas Compressors 2024

Market Size for Vacuum Pumps and Air or Gas Compressors in Estonia

The Estonian market for vacuum pumps and air or gas compressors declined notably to $X in 2022, shrinking by -26% against the previous year. Over the period under review, the total consumption indicated a tangible increase 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, consumption decreased by -30.5% against 2019 indices. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market remained at a somewhat lower figure.

Production of Vacuum Pumps and Air or Gas Compressors in Estonia

In value terms, production of vacuum pumps and air or gas compressors reached $X in 2022 estimated in export price. Overall, production, however, enjoyed prominent growth. The pace of growth was the most pronounced in 2013 with an increase of 47% against the previous year. Over the period under review, production of hit record highs in 2022 and is likely to continue growth in the immediate term.

Exports of Vacuum Pumps and Air or Gas Compressors

Exports from Estonia

In 2022, overseas shipments of vacuum pumps and air or gas compressors increased by 109% to X units, rising for the third consecutive year after two years of decline. Overall, exports continue to indicate prominent growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, exports of vacuum pumps and air or gas compressors skyrocketed to $X in 2022. In general, exports saw a resilient expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Russia (X units) was the main destination for exports of vacuum pumps and air or gas compressors from Estonia, accounting for a 53% share of total exports. Moreover, exports of vacuum pumps and air or gas compressors to Russia exceeded the volume sent to the second major destination, the United States (X units), threefold. Latvia (X units) ranked third in terms of total exports with a 5.9% share.

From 2012 to 2022, the average annual growth rate of volume to Russia totaled +2.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+50.3% per year) and Latvia (+7.3% per year).

In value terms, Russia ($X) emerged as the key foreign market for vacuum pumps and air or gas compressors exports from Estonia, comprising 48% of total exports. The second position in the ranking was taken by the United States ($X), with a 13% share of total exports. It was followed by Latvia, with a 6% share.

From 2012 to 2022, the average annual growth rate of value to Russia amounted to +3.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+42.4% per year) and Latvia (-0.1% per year).

Export Prices by Country

In 2022, the average export price for vacuum pumps and air or gas compressors amounted to $X per unit, falling by -7.4% against the previous year. Overall, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 an increase of 17% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2015 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Ukraine ($X per unit), while the average price for exports to Sweden ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Finland (+20.2%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Vacuum Pumps and Air or Gas Compressors

Imports into Estonia

In 2022, imports of vacuum pumps and air or gas compressors into Estonia soared to X units, jumping by 35% compared with the previous year. Overall, total imports indicated measured growth from 2012 to 2022: its volume increased at an average annual rate of +4.5% 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 +65.4% against 2020 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, imports of vacuum pumps and air or gas compressors surged to $X in 2022. In general, total imports indicated perceptible growth 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 +56.3% against 2020 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, China (X units) constituted the largest vacuum pump and air or gas compressor supplier to Estonia, with a 63% share of total imports. Moreover, imports of vacuum pumps and air or gas compressors from China exceeded the figures recorded by the second-largest supplier, Germany (X units), more than tenfold. The third position in this ranking was taken by Spain (X units), with a 3.8% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled +6.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-2.9% per year) and Spain (+19.7% per year).

In value terms, China ($X), Germany ($X) and Italy ($X) appeared to be the largest vacuum pump and air or gas compressor suppliers to Estonia, with a combined 53% share of total imports. Lithuania, Poland, Finland, the UK, Spain, Brazil, Japan, Latvia, Taiwan (Chinese) and Thailand lagged somewhat behind, together comprising a further 18%.

In terms of the main suppliers, Brazil, with a CAGR of +82.6%, 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

The average import price for vacuum pumps and air or gas compressors stood at $X per unit in 2022, rising by 5.2% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the average import price increased by 29% against the previous year. As a result, import price reached the peak level of $X per unit. From 2014 to 2022, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per unit), while the price for Thailand ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+8.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform