Lithuania: Stone Polishing Machine Market 2024

Stone Polishing Machine Market Size in Lithuania

In 2022, the Lithuanian stone polishing machine market was finally on the rise to reach $X after two years of decline. Over the period under review, consumption, however, showed a perceptible descent. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market remained at a lower figure.

Stone Polishing Machine Production in Lithuania

In value terms, stone polishing machine production dropped slightly to $X in 2022 estimated in export price. In general, production continues to indicate a abrupt setback. The pace of growth appeared the most rapid in 2014 with an increase of 100% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2022, production growth failed to regain momentum.

Stone Polishing Machine Exports

Exports from Lithuania

After two years of growth, shipments abroad of grinding or polishing machines for working stone, ceramics and concrete decreased by -13.3% to X units in 2022. Overall, exports, however, showed resilient growth. The most prominent rate of growth was recorded in 2017 with an increase of 173%. Over the period under review, the exports reached the maximum at X units in 2021, and then reduced in the following year.

In value terms, stone polishing machine exports reduced notably to $X in 2022. In general, exports recorded a abrupt slump. The growth pace was the most rapid in 2017 when exports increased by 110% against the previous year. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

Kazakhstan (X units) was the main destination for stone polishing machine exports from Lithuania, accounting for a 51% share of total exports. Moreover, stone polishing machine exports to Kazakhstan exceeded the volume sent to the second major destination, Greece (X units), fivefold. The third position in this ranking was held by Armenia (X units), with a 10% share.

From 2012 to 2022, the average annual growth rate of volume to Kazakhstan totaled +59.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Greece (+76.5% per year) and Armenia (0.0% per year).

In value terms, Kazakhstan ($X) emerged as the key foreign market for grinding or polishing machines for working stone, ceramics and concrete exports from Lithuania, comprising 63% of total exports. The second position in the ranking was taken by Uzbekistan ($X), with a 6.2% share of total exports. It was followed by Greece, with a 5.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Kazakhstan amounted to +30.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Uzbekistan (-8.8% per year) and Greece (-1.7% per year).

Export Prices by Country

In 2022, the average stone polishing machine export price amounted to $X per unit, with a decrease of -59.9% against the previous year. Overall, the export price saw a dramatic descent. The growth pace was the most rapid in 2019 when the average export price increased by 51%. The export price peaked at $X per unit in 2013; however, from 2014 to 2022, the 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 Russia ($X per unit), while the average price for exports to the United States ($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 (-0.1%), while the prices for the other major destinations experienced a decline.

Stone Polishing Machine Imports

Imports into Lithuania

Stone polishing machine imports into Lithuania skyrocketed to X units in 2022, increasing by 105% against the previous year. Overall, imports continue to indicate a prominent expansion. The most prominent rate of growth was recorded in 2017 when imports increased by 185%. Imports peaked in 2022 and are expected to retain growth in the near future.

In value terms, stone polishing machine imports surged to $X in 2022. Over the period under review, imports continue to indicate a buoyant increase. The most prominent rate of growth was recorded in 2017 with an increase of 285%. Imports peaked at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Italy (X units) constituted the largest supplier of stone polishing machine to Lithuania, accounting for a 68% share of total imports. Moreover, stone polishing machine imports from Italy exceeded the figures recorded by the second-largest supplier, Poland (X units), tenfold. France (X units) ranked third in terms of total imports with a 7.1% share.

From 2012 to 2022, the average annual growth rate of volume from Italy totaled +39.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+19.6% per year) and France (+19.6% per year).

In value terms, Italy ($X) constituted the largest supplier of grinding or polishing machines for working stone, ceramics and concrete to Lithuania, comprising 64% of total imports. The second position in the ranking was held by France ($X), with a 16% share of total imports. It was followed by Poland, with a 6.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Italy amounted to +21.2%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+36.8% per year) and Poland (+3.7% per year).

Import Prices by Country

The average stone polishing machine import price stood at $X per unit in 2022, declining by -2.8% against the previous year. Overall, the import price continues to indicate a abrupt slump. The pace of growth appeared the most rapid in 2017 when the average import price increased by 35% against the previous year. The import price peaked at $X per unit in 2013; however, from 2014 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 France ($X per unit), while the price for Serbia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+14.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform