Lithuania: Market for Industrial, Laboratory or Bakery Ovens 2024

Market Size for Industrial, Laboratory or Bakery Ovens in Lithuania

The Lithuanian market for industrial, laboratory or bakery ovens contracted slightly to $X in 2022, which is down by -3.4% against the previous year. Overall, consumption, however, saw a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market failed to regain momentum.

Production of Industrial, Laboratory or Bakery Ovens in Lithuania

In value terms, industrial, laboratory or bakery oven production surged to $X in 2022 estimated in export price. In general, production recorded a dramatic curtailment. Over the period under review, production reached the maximum level at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

Exports of Industrial, Laboratory or Bakery Ovens

Exports from Lithuania

In 2022, approx. X units of industrial, laboratory or bakery ovens were exported from Lithuania; with a decrease of -4.2% compared with the previous year. In general, exports recorded a slight shrinkage. The most prominent rate of growth was recorded in 2017 when exports increased by 46%. The exports peaked at X units in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, industrial, laboratory or bakery oven exports reduced slightly to $X in 2022. Overall, total exports indicated mild growth from 2012 to 2022: its value increased at an average annual rate of +1.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +23.6% against 2019 indices. The most prominent rate of growth was recorded in 2017 with an increase of 29%. Over the period under review, the exports reached the maximum at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

Russia (X units) was the main destination for industrial, laboratory or bakery oven exports from Lithuania, with a 73% share of total exports. Moreover, industrial, laboratory or bakery oven exports to Russia exceeded the volume sent to the second major destination, Belarus (X units), more than tenfold. The third position in this ranking was held by Germany (X units), with a 4.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Russia stood at -1.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belarus (-5.2% per year) and Germany (+35.2% per year).

In value terms, Russia ($X) remains the key foreign market for industrial, laboratory or bakery ovens exports from Lithuania, comprising 67% of total exports. The second position in the ranking was taken by Germany ($X), with a 5.6% share of total exports. It was followed by Belarus, with a 5.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Russia was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+44.9% per year) and Belarus (-4.9% per year).

Export Prices by Country

The average export price for industrial, laboratory or bakery ovens stood at $X per unit in 2022, growing by 2.2% against the previous year. Over the period under review, export price indicated a measured expansion from 2012 to 2022: its price increased at an average annual rate of +3.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, industrial, laboratory or bakery oven export price decreased by -2.2% against 2020 indices. The pace of growth was the most pronounced in 2014 an increase of 60%. As a result, the export price reached the peak level of $X per unit. From 2015 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 Ukraine ($X per unit), while the average price for exports to Spain ($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 Ukraine (+22.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Industrial, Laboratory or Bakery Ovens

Imports into Lithuania

In 2022, the amount of industrial, laboratory or bakery ovens imported into Lithuania stood at X units, leveling off at 2021. Over the period under review, imports continue to indicate resilient growth. The growth pace was the most rapid in 2016 when imports increased by 263%. Imports peaked at X units in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, industrial, laboratory or bakery oven imports fell to $X in 2022. In general, total imports indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +10.0% 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 +41.1% against 2019 indices. The most prominent rate of growth was recorded in 2013 with an increase of 94%. Over the period under review, imports attained the maximum at $X in 2021, and then declined modestly in the following year.

Imports by Country

In 2022, Italy (X units) constituted the largest industrial, laboratory or bakery oven supplier to Lithuania, accounting for a 73% share of total imports. Moreover, industrial, laboratory or bakery oven imports from Italy exceeded the figures recorded by the second-largest supplier, Germany (X units), sixfold. The third position in this ranking was held by Hungary (X units), with a 4.2% share.

From 2012 to 2022, the average annual growth rate of volume from Italy totaled +32.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+5.1% per year) and Hungary (+8.9% per year).

In value terms, the largest industrial, laboratory or bakery oven suppliers to Lithuania were Germany ($X), Italy ($X) and Sweden ($X), together accounting for 91% of total imports.

In terms of the main suppliers, Italy, with a CAGR of +26.4%, 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

The average import price for industrial, laboratory or bakery ovens stood at $X per unit in 2022, standing approx. at the previous year. In general, the import price recorded a abrupt setback. The growth pace was the most rapid in 2020 an increase of 31% against the previous year. The import price peaked at $X per unit in 2015; however, from 2016 to 2022, import prices stood at a somewhat 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 Germany ($X per unit), while the price for Hungary ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+1.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform