Europe: Relay Market 2024

Relay Market Size in Europe

The Europe relay market expanded significantly to $X in 2022, picking up by 8.8% against the previous year. The total consumption indicated noticeable growth from 2012 to 2022: its value increased at an average annual rate of +4.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +71.1% against 2020 indices. The level of consumption peaked in 2022 and is expected to retain growth in the near future.

Relay Production in Europe

In value terms, relay production surged to $X in 2022 estimated in export price. The total production indicated a strong increase from 2012 to 2022: its value 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, production increased by +86.5% against 2020 indices. The pace of growth appeared the most rapid in 2021 when the production volume increased by 60% against the previous year. Over the period under review, production hit record highs in 2022 and is likely to see gradual growth in the immediate term.

Relay Exports

Exports in Europe

In 2022, shipments abroad of relays increased by 0.9% to X units, rising for the second consecutive year after two years of decline. In general, exports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of 17% against the previous year. The volume of export peaked at X units in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, relay exports amounted to $X in 2022. Over the period under review, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when exports increased by 17% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are likely to continue growth in years to come.

Exports by Country

In 2022, Germany (X units), distantly followed by France (X units), Portugal (X units), Spain (X units), the Czech Republic (X units), the Netherlands (X units) and Romania (X units) were the main exporters of relays, together achieving 75% of total exports. Italy (X units), Hungary (X units), Poland (X units), Serbia (X units), Austria (X units) and Sweden (X units) followed a long way behind the leaders.

Exports from Germany increased at an average annual rate of +2.3% from 2012 to 2022. At the same time, Serbia (+13.2%), Spain (+7.5%), Poland (+5.9%) and the Czech Republic (+4.4%) displayed positive paces of growth. Moreover, Serbia emerged as the fastest-growing exporter exported in Europe, with a CAGR of +13.2% from 2012-2022. Hungary, France, the Netherlands and Romania experienced a relatively flat trend pattern. By contrast, Italy (-1.0%), Sweden (-3.7%), Portugal (-3.9%) and Austria (-4.9%) illustrated a downward trend over the same period. While the share of Spain (+4.2 p.p.), Germany (+3.3 p.p.), the Czech Republic (+2.4 p.p.) and Serbia (+1.5 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Austria (-1.7 p.p.) and Portugal (-6.2 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Germany ($X) remains the largest relay supplier in Europe, comprising 31% of total exports. The second position in the ranking was held by France ($X), with a 12% share of total exports. It was followed by the Czech Republic, with a 9.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Germany totaled +1.9%. The remaining exporting countries recorded the following average annual rates of exports growth: France (-0.5% per year) and the Czech Republic (+8.0% per year).

Export Prices by Country

The export price in Europe stood at $X per unit in 2022, remaining stable against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 an increase of 8.1%. The level of export peaked at $X per unit in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Sweden ($X per unit), while Serbia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Portugal (+5.1%), while the other leaders experienced more modest paces of growth.

Relay Imports

Imports in Europe

In 2022, purchases abroad of relays increased by 5.8% to X units, rising for the second year in a row after three years of decline. The total import volume increased at an average annual rate of +1.4% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of 16% against the previous year. Over the period under review, imports hit record highs at X units in 2015; afterwards, it flattened through to 2022.

In value terms, relay imports reached $X in 2022. The total import value increased at an average annual rate of +1.7% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The pace of growth was the most pronounced in 2021 when imports increased by 22% against the previous year. The level of import peaked in 2022 and is likely to see steady growth in the near future.

Imports by Country

In 2022, Germany (X units), distantly followed by Hungary (X units), Italy (X units), the Netherlands (X units), the Czech Republic (X units), Russia (X units), France (X units) and Spain (X units) were the largest importers of relays, together constituting 71% of total imports. Romania (X units), Poland (X units), the UK (X units), Austria (X units) and Slovakia (X units) followed a long way behind the leaders.

Germany experienced a relatively flat trend pattern with regard to volume of imports of relays. At the same time, Poland (+7.6%), Hungary (+7.5%), the Czech Republic (+6.8%), Italy (+6.3%), Romania (+5.1%), Slovakia (+2.8%), the Netherlands (+2.8%) and Russia (+1.1%) displayed positive paces of growth. Moreover, Poland emerged as the fastest-growing importer imported in Europe, with a CAGR of +7.6% from 2012-2022. Austria experienced a relatively flat trend pattern. By contrast, the UK (-2.2%), France (-2.3%) and Spain (-9.2%) illustrated a downward trend over the same period. While the share of Hungary (+4.8 p.p.), Italy (+3 p.p.) and the Czech Republic (+2.3 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of France (-2.3 p.p.) and Spain (-9.6 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Germany ($X) constitutes the largest market for imported relays in Europe, comprising 24% of total imports. The second position in the ranking was held by Italy ($X), with a 9.1% share of total imports. It was followed by the Netherlands, with an 8.2% share.

In Germany, relay imports increased at an average annual rate of +1.4% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Italy (+3.5% per year) and the Netherlands (+0.4% per year).

Import Prices by Country

In 2022, the import price in Europe amounted to $X per unit, shrinking by -2.4% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 17% against the previous year. Over the period under review, import prices reached the maximum at $X per unit in 2021, and then declined in the following year.

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 the UK ($X per unit), while Hungary ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+13.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform