Estonia: Clutch Market 2024

Clutch Market Size in Estonia

For the third year in a row, the Estonian clutch market recorded growth in sales value, which increased by 6.3% to $X in 2022. The market value increased at an average annual rate of +2.8% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Clutch consumption peaked in 2022 and is expected to retain growth in the near future.

Clutch Exports

Exports from Estonia

In 2022, after three years of growth, there was significant decline in overseas shipments of clutches, when their volume decreased by -12.2% to X tons. Overall, exports, however, posted resilient growth. The most prominent rate of growth was recorded in 2013 with an increase of 70%. Over the period under review, the exports hit record highs at X tons in 2021, and then contracted in the following year.

In value terms, clutch exports soared to $X in 2022. In general, exports, however, recorded a strong increase. The pace of growth appeared the most rapid in 2013 with an increase of 72% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.

Exports by Country

Latvia (X tons), Finland (X tons) and Sweden (X tons) were the main destinations of clutch exports from Estonia, with a combined 68% share of total exports. Kyrgyzstan, Lithuania, Poland and Russia lagged somewhat behind, together accounting for a further 20%.

From 2012 to 2022, the biggest increases were recorded for Poland (with a CAGR of +75.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for clutch exported from Estonia were Finland ($X), Latvia ($X) and Sweden ($X), with a combined 63% share of total exports. Lithuania, Kyrgyzstan, Poland and Russia lagged somewhat behind, together accounting for a further 19%.

Poland, with a CAGR of +69.3%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average clutch export price amounted to $X per ton, surging by 42% against the previous year. Over the period under review, export price indicated a strong expansion from 2012 to 2022: its price increased at an average annual rate of +5.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, clutch export price decreased by -9.9% against 2020 indices. The pace of growth appeared the most rapid in 2014 when the average export price increased by 59% against the previous year. The export price peaked at $X per ton in 2020; however, from 2021 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Finland ($X per ton), while the average price for exports to Sweden ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Russia (+10.8%), while the prices for the other major destinations experienced more modest paces of growth.

Clutch Imports

Imports into Estonia

In 2022, purchases abroad of clutches increased by 4.9% to X tons, rising for the second consecutive year after two years of decline. The total import volume increased at an average annual rate of +1.9% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2013 with an increase of 42%. As a result, imports reached the peak of X tons. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, clutch imports reduced slightly to $X in 2022. In general, total imports indicated a pronounced increase from 2012 to 2022: its value increased at an average annual rate of +4.0% 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 +62.3% against 2016 indices. The most prominent rate of growth was recorded in 2013 with an increase of 26%. Imports peaked at $X in 2021, and then reduced modestly in the following year.

Imports by Country

In 2022, Germany (X tons) constituted the largest clutch supplier to Estonia, accounting for a 34% share of total imports. Moreover, clutch imports from Germany exceeded the figures recorded by the second-largest supplier, Poland (X tons), threefold. The third position in this ranking was taken by Hungary (X tons), with an 11% share.

From 2012 to 2022, the average annual growth rate of volume from Germany totaled +1.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+10.6% per year) and Hungary (+42.5% per year).

In value terms, Germany ($X) constituted the largest supplier of clutches to Estonia, comprising 35% of total imports. The second position in the ranking was taken by Poland ($X), with a 14% share of total imports. It was followed by Hungary, with a 10% share.

From 2012 to 2022, the average annual growth rate of value from Germany totaled +2.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+13.0% per year) and Hungary (+28.4% per year).

Import Prices by Country

In 2022, the average clutch import price amounted to $X per ton, waning by -5.2% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.1%. The pace of growth appeared the most rapid in 2017 when the average import price increased by 19%. Over the period under review, average import prices reached the maximum at $X per ton in 2021, and then reduced in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Lithuania (+17.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform