Lithuania: Market for Gearboxes and Speed Changers 2024

Market Size for Gearboxes and Speed Changers in Lithuania

The Lithuanian gearboxes and speed changers market declined to $X in 2022, with a decrease of X% against the previous year. Over the period under review, consumption showed a deep slump. Gearboxes and speed changers consumption peaked at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Production of Gearboxes and Speed Changers in Lithuania

In value terms, gearboxes and speed changers production surged to $X in 2022 estimated in export price. Overall, production, however, saw a sharp curtailment. Gearboxes and speed changers production peaked at $X in 2017; however, from 2018 to 2022, production remained at a lower figure.

Exports of Gearboxes and Speed Changers

Exports from Lithuania

For the third year in a row, Lithuania recorded decline in overseas shipments of gearboxes and speed changers, which decreased by X% to X tons in 2022. Overall, exports saw a noticeable shrinkage. The pace of growth was the most pronounced in 2016 when exports increased by X%. The exports peaked at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, gearboxes and speed changers exports shrank remarkably to $X in 2022. Over the period under review, exports recorded a mild curtailment. The most prominent rate of growth was recorded in 2017 when exports increased by X%. Over the period under review, the exports hit record highs at $X in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Kazakhstan (X tons), Russia (X tons) and Turkey (X tons) were the main destinations of gearboxes and speed changers exports from Lithuania, together accounting for X% of total exports.

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 X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for gearboxes and speed changers exported from Lithuania were Russia ($X), Kazakhstan ($X) and Uzbekistan ($X), with a combined X% share of total exports. Turkey, Latvia, Kyrgyzstan, Belarus and Ukraine lagged somewhat behind, together accounting for a further X%.

Turkey, with a CAGR of X%, saw 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 gearboxes and speed changers export price amounted to $X per ton, remaining constant against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2017 an increase of X%. The export price peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

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

Imports of Gearboxes and Speed Changers

Imports into Lithuania

In 2022, gearboxes and speed changers imports into Lithuania dropped notably to X tons, with a decrease of X% compared with 2021 figures. In general, imports, however, enjoyed temperate growth. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. As a result, imports reached the peak of X tons, and then shrank rapidly in the following year.

In value terms, gearboxes and speed changers imports declined significantly to $X in 2022. Overall, total imports indicated a noticeable increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by X% against 2019 indices. The pace of growth was the most pronounced in 2013 with an increase of X%. Imports peaked at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Italy (X tons), Germany (X tons) and China (X tons) were the main suppliers of gearboxes and speed changers imports to Lithuania, together comprising X% of total imports. Poland, the Netherlands, Estonia, Finland, Ukraine, Latvia and Russia lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the biggest increases were recorded for the Netherlands (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X), Germany ($X) and Poland ($X) were the largest gearboxes and speed changers suppliers to Lithuania, together comprising X% of total imports. Finland, China, the Netherlands, Estonia, Latvia, Ukraine and Russia lagged somewhat behind, together accounting for a further X%.

In terms of the main suppliers, the Netherlands, with a CAGR of X%, recorded 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

In 2022, the average gearboxes and speed changers import price amounted to $X per ton, growing by X% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The import price peaked at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Finland ($X per ton), while the price for China ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform