Italy: Vacuum Vessel Market 2024

Vacuum Vessel Market Size in Italy

The Italian vacuum vessel market was finally on the rise to reach $X in 2022, after two years of decline. In general, consumption showed a resilient expansion. 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.

Vacuum Vessel Production in Italy

In value terms, vacuum vessel production reduced dramatically to $X in 2022 estimated in export price. Overall, production saw a abrupt descent. The pace of growth was the most pronounced in 2021 when the production volume increased by 645%. Vacuum vessel production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Vacuum Vessel Exports

Exports from Italy

In 2022, shipments abroad of vacuum vessels decreased by -20.4% to X units for the first time since 2017, thus ending a four-year rising trend. Over the period under review, exports, however, recorded strong growth. The most prominent rate of growth was recorded in 2014 when exports increased by 88% against the previous year. The exports peaked at X units in 2021, and then contracted notably in the following year.

In value terms, vacuum vessel exports reduced dramatically to $X in 2022. In general, exports, however, posted significant growth. The most prominent rate of growth was recorded in 2018 with an increase of 81% against the previous year. The exports peaked at $X in 2021, and then dropped significantly in the following year.

Exports by Country

France (X units), Spain (X units) and Germany (X units) were the main destinations of vacuum vessel exports from Italy, together accounting for 29% of total exports. Switzerland, Saudi Arabia, South Korea, Poland, the Netherlands, Romania, the Czech Republic, Slovenia, Croatia and Japan lagged somewhat behind, together comprising a further 37%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by South Korea (with a CAGR of +68.4%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for vacuum vessel exported from Italy were France ($X), South Korea ($X) and Switzerland ($X), with a combined 30% share of total exports.

South Korea, with a CAGR of +79.1%, recorded the highest growth rate of 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 vacuum vessel export price amounted to $X per unit, picking up by 4.1% against the previous year. Over the period under review, the export price posted a strong expansion. The pace of growth was the most pronounced in 2021 when the average export price increased by 32%. Over the period under review, the average export prices reached the maximum in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was South Korea ($X per unit), while the average price for exports to Romania ($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 Saudi Arabia (+10.6%), while the prices for the other major destinations experienced more modest paces of growth.

Vacuum Vessel Imports

Imports into Italy

Vacuum vessel imports into Italy skyrocketed to X units in 2022, jumping by 17% against the previous year's figure. Overall, imports recorded a resilient expansion. The most prominent rate of growth was recorded in 2020 when imports increased by 84% against the previous year. As a result, imports attained the peak of X units. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, vacuum vessel imports surged to $X in 2022. Over the period under review, imports saw strong growth. The growth pace was the most rapid in 2019 with an increase of 114% against the previous year. Imports peaked at $X in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X units) constituted the largest vacuum vessel supplier to Italy, accounting for a 73% share of total imports. Moreover, vacuum vessel imports from China exceeded the figures recorded by the second-largest supplier, Germany (X units), more than tenfold. France (X units) ranked third in terms of total imports with a 4.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +12.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+12.9% per year) and France (+13.3% per year).

In value terms, China ($X) constituted the largest supplier of vacuum vessels to Italy, comprising 67% of total imports. The second position in the ranking was held by Germany ($X), with a 9.1% share of total imports. It was followed by France, with a 6.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to +17.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+18.2% per year) and France (+12.8% per year).

Import Prices by Country

In 2022, the average vacuum vessel import price amounted to $X per unit, standing approx. at the previous year. Over the period under review, import price indicated pronounced growth from 2012 to 2022: its price increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, vacuum vessel import price increased by +73.1% against 2015 indices. The growth pace was the most rapid in 2019 when the average import price increased by 21% against the previous year. The import price peaked in 2022 and is expected to retain growth in the immediate term.

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 ($X per unit), while the price for India ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+4.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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