Estonia: Market for Turbo, Rotary and Reciporating Displacement Compressors 2024

Market Size for Turbo, Rotary and Reciporating Displacement Compressors in Estonia

The Estonian market for turbo, rotary and reciporating displacement compressors surged to $X in 2022, jumping by 39% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption continues to indicate a remarkable increase. Over the period under review, the market attained the maximum level in 2022 and is likely to see gradual growth in the immediate term.

Exports of Turbo, Rotary and Reciporating Displacement Compressors

Exports from Estonia

In 2022, the amount of turbo, rotary and reciporating displacement compressors exported from Estonia surged to X units, jumping by 24% on the year before. Over the period under review, exports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when exports increased by 61% against the previous year. Over the period under review, the exports of reached the maximum in 2022 and are expected to retain growth in the near future.

In value terms, exports of turbo, rotary and reciporating displacement compressors skyrocketed to $X in 2022. Overall, exports, however, saw a pronounced downturn. The most prominent rate of growth was recorded in 2020 with an increase of 38% against the previous year. Over the period under review, the exports of hit record highs at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Sweden (X units), Russia (X units) and Lithuania (X units) were the main destinations of exports of turbo, rotary and reciporating displacement compressors from Estonia, together comprising 56% of total exports. Norway, Latvia, Finland, Kazakhstan and Ukraine lagged somewhat behind, together comprising a further 32%.

From 2012 to 2022, the biggest increases were recorded for Kazakhstan (with a CAGR of +103.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for turbo, rotary and reciporating displacement compressor exported from Estonia were Russia ($X), Latvia ($X) and Lithuania ($X), together accounting for 46% of total exports. Finland, Norway, Sweden, Kazakhstan and Ukraine lagged somewhat behind, together accounting for a further 25%.

In terms of the main countries of destination, Kazakhstan, with a CAGR of +113.9%, 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

In 2022, the average export price for turbo, rotary and reciporating displacement compressors amounted to $X per unit, growing by 8.2% against the previous year. In general, the export price, however, continues to indicate a noticeable downturn. The most prominent rate of growth was recorded in 2013 an increase of 39%. The export price peaked at $X per unit in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Finland ($X per unit), while the average price for exports to Sweden ($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 Kazakhstan (+5.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Turbo, Rotary and Reciporating Displacement Compressors

Imports into Estonia

In 2022, approx. X units of turbo, rotary and reciporating displacement compressors were imported into Estonia; rising by 34% against the year before. Overall, imports saw a resilient increase. The most prominent rate of growth was recorded in 2021 with an increase of 37% against the previous year. Imports peaked in 2022 and are expected to retain growth in the near future.

In value terms, imports of turbo, rotary and reciporating displacement compressors skyrocketed to $X in 2022. In general, total imports indicated a temperate expansion 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 +22.1% against 2019 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 turbo, rotary and reciporating displacement compressor supplier to Estonia, with a 73% share of total imports. Moreover, imports of turbo, rotary and reciporating displacement compressors from China exceeded the figures recorded by the second-largest supplier, Germany (X units), eightfold. Japan (X units) ranked third in terms of total imports with a 3.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +17.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+0.4% per year) and Japan (+35.9% per year).

In value terms, Germany ($X), China ($X) and Lithuania ($X) appeared to be the largest turbo, rotary and reciporating displacement compressor suppliers to Estonia, together comprising 52% of total imports.

In terms of the main suppliers, Lithuania, with a CAGR of +31.6%, 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 average import price for turbo, rotary and reciporating displacement compressors amounted to $X per unit, approximately reflecting the previous year. In general, the import price, however, showed a pronounced decline. The most prominent rate of growth was recorded in 2013 when the average import price increased by 13% 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.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Italy ($X per unit), while the price for Japan ($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 (+9.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform