Lithuania: Shaft Coupling Market 2024

Shaft Coupling Market Size in Lithuania

The Lithuanian shaft coupling market expanded significantly to $X in 2022, with an increase of 14% against the previous year. Overall, consumption showed a abrupt descent. Over the period under review, the market attained the peak level at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Shaft Coupling Production in Lithuania

In value terms, shaft coupling production reached $X in 2022 estimated in export price. In general, production continues to indicate a abrupt slump. The pace of growth appeared the most rapid in 2013 when the production volume increased by 11% against the previous year. As a result, production attained the peak level of $X. From 2014 to 2022, production growth remained at a lower figure.

Shaft Coupling Exports

Exports from Lithuania

In 2022, exports of clutches and shaft couplings from Lithuania contracted markedly to X tons, which is down by -33.9% on 2021 figures. Overall, exports, however, posted a resilient increase. The most prominent rate of growth was recorded in 2017 with an increase of 144%. Over the period under review, the exports reached the maximum at X tons in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, shaft coupling exports dropped notably to $X in 2022. Over the period under review, exports, however, saw a buoyant expansion. The most prominent rate of growth was recorded in 2016 with an increase of 79% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2021, and then shrank markedly in the following year.

Exports by Country

Kazakhstan (X tons), Germany (X tons) and Russia (X tons) were the main destinations of shaft coupling exports from Lithuania, with a combined 68% share of total exports. France, Turkey, the UK, Kyrgyzstan and Belarus lagged somewhat behind, together comprising a further 25%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Turkey (with a CAGR of +961.9%), while the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), France ($X) and Russia ($X) appeared to be the largest markets for shaft coupling exported from Lithuania worldwide, together comprising 65% of total exports. Turkey, Kazakhstan, Kyrgyzstan, the UK and Belarus lagged somewhat behind, together accounting for a further 25%.

Among the main countries of destination, Turkey, with a CAGR of +669.7%, recorded the highest rates of growth with regard to 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 shaft coupling export price amounted to $X per ton, increasing by 8.8% against the previous year. In general, export price indicated a mild increase from 2012 to 2022: its price increased at an average annual rate of +1.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, shaft coupling export price decreased by -13.5% against 2020 indices. The growth pace was the most rapid in 2016 when the average export price increased by 109% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2017 to 2022, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was France ($X per ton), while the average price for exports to Kazakhstan ($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 Belarus (+8.7%), while the prices for the other major destinations experienced more modest paces of growth.

Shaft Coupling Imports

Imports into Lithuania

In 2022, approx. X tons of clutches and shaft couplings were imported into Lithuania; reducing by -38.6% against the previous year's figure. Overall, imports, however, recorded a strong expansion. The growth pace was the most rapid in 2017 when imports increased by 93%. Over the period under review, imports attained the peak figure at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, shaft coupling imports dropped markedly to $X in 2022. Over the period under review, imports, however, saw a significant increase. The growth pace was the most rapid in 2014 with an increase of 78%. Over the period under review, imports reached the maximum at $X in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Germany (X tons), Italy (X tons) and Poland (X tons) were the main suppliers of shaft coupling imports to Lithuania, together comprising 83% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Germany (with a CAGR of +33.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of clutches and shaft couplings to Lithuania, comprising 65% of total imports. The second position in the ranking was taken by Italy ($X), with a 16% share of total imports. It was followed by Poland, with a 3.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Germany totaled +30.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+22.9% per year) and Poland (+11.7% per year).

Import Prices by Country

The average shaft coupling import price stood at $X per ton in 2022, jumping by 26% against the previous year. In general, the import price posted prominent growth. The pace of growth appeared the most rapid in 2016 an increase of 60%. Over the period under review, average import prices hit record highs at $X per ton in 2018; however, from 2019 to 2022, 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 the United States ($X per ton), while the price for Estonia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+11.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform