Lithuania: Market for Electric Ovens, Cookers, Cooking Plates, Boiling Rings, Grillers And Roasters 2024

Market Size for Electric Ovens, Cookers, Cooking Plates, Boiling Rings, Grillers And Roasters in Lithuania

In 2022, the Lithuanian electric oven and cooker market decreased by -20.3% to $X for the first time since 2016, thus ending a five-year rising trend. Over the period under review, consumption, however, showed a resilient increase. As a result, consumption reached the peak level of $X, and then fell dramatically in the following year.

Production of Electric Ovens, Cookers, Cooking Plates, Boiling Rings, Grillers And Roasters in Lithuania

In value terms, electric oven and cooker production fell remarkably to $X in 2022 estimated in export price. Overall, production, however, saw prominent growth. The most prominent rate of growth was recorded in 2021 with an increase of 237%. As a result, production reached the peak level of $X, and then dropped markedly in the following year.

Exports of Electric Ovens, Cookers, Cooking Plates, Boiling Rings, Grillers And Roasters

Exports from Lithuania

In 2022, approx. X units of electric ovens, cookers, cooking plates, boiling rings, grillers and roasters were exported from Lithuania; with an increase of 34% against the previous year. In general, exports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when exports increased by 41% against the previous year. Over the period under review, the exports attained the maximum at X units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, electric oven and cooker exports surged to $X in 2022. Overall, exports showed a relatively flat trend pattern. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Latvia (X units) was the main destination for electric oven and cooker exports from Lithuania, with a 29% share of total exports. Moreover, electric oven and cooker exports to Latvia exceeded the volume sent to the second major destination, Russia (X units), twofold. Estonia (X units) ranked third in terms of total exports with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Latvia stood at +12.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Russia (-16.1% per year) and Estonia (+14.0% per year).

In value terms, the largest markets for electric oven and cooker exported from Lithuania were Latvia ($X), Kazakhstan ($X) and Russia ($X), with a combined 45% share of total exports. Estonia, Poland, Germany, Kyrgyzstan, Armenia, Israel, Uzbekistan and Belarus lagged somewhat behind, together accounting for a further 43%.

Among the main countries of destination, Armenia, with a CAGR of +171.3%, saw 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

The average electric oven and cooker export price stood at $X per unit in 2022, surging by 14% against the previous year. In general, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of 20% against the previous year. The export price peaked in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Israel ($X per unit), while the average price for exports to Latvia ($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 Armenia (+22.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Electric Ovens, Cookers, Cooking Plates, Boiling Rings, Grillers And Roasters

Imports into Lithuania

In 2022, after two years of growth, there was significant decline in overseas purchases of electric ovens, cookers, cooking plates, boiling rings, grillers and roasters, when their volume decreased by -8.2% to X units. In general, imports, however, posted a buoyant increase. The pace of growth was the most pronounced in 2021 with an increase of 44% against the previous year. As a result, imports attained the peak of X units, and then shrank in the following year.

In value terms, electric oven and cooker imports contracted to $X in 2022. Over the period under review, imports, however, recorded a resilient increase. The pace of growth appeared the most rapid in 2021 when imports increased by 47% against the previous year. As a result, imports attained the peak of $X, and then dropped in the following year.

Imports by Country

In 2022, Poland (X units) constituted the largest electric oven and cooker supplier to Lithuania, accounting for a 34% share of total imports. Moreover, electric oven and cooker imports from Poland exceeded the figures recorded by the second-largest supplier, China (X units), twofold. Germany (X units) ranked third in terms of total imports with a 12% share.

From 2012 to 2022, the average annual growth rate of volume from Poland stood at +5.1%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+5.3% per year) and Germany (+0.6% per year).

In value terms, Poland ($X) constituted the largest supplier of electric ovens, cookers, cooking plates, boiling rings, grillers and roasters to Lithuania, comprising 43% of total imports. The second position in the ranking was taken by Sweden ($X), with a 13% share of total imports. It was followed by Italy, with a 9.5% share.

From 2012 to 2022, the average annual growth rate of value from Poland amounted to +3.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Sweden (+10.9% per year) and Italy (+16.8% per year).

Import Prices by Country

In 2022, the average electric oven and cooker import price amounted to $X per unit, increasing by 4.1% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when the average import price increased by 5.2% against the previous year. Over the period under review, average import prices attained the maximum at $X per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Sweden ($X per unit), while the price for the Netherlands ($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 (+10.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform