Lithuania: Starter Battery Market 2024

Starter Battery Market Size in Lithuania

In 2022, the Lithuanian starter battery market decreased by -32.1% to $X for the first time since 2019, thus ending a two-year rising trend. Over the period under review, the total consumption indicated modest growth from 2012 to 2022: its value increased at an average annual rate of +1.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +14.0% against 2019 indices. As a result, consumption attained the peak level of $X, and then declined notably in the following year.

Starter Battery Exports

Exports from Lithuania

In 2022, exports of lead-acid accumulators for starting piston engines from Lithuania reduced rapidly to X units, declining by -22% on 2021 figures. In general, total exports indicated mild growth from 2012 to 2022: its volume increased at an average annual rate of +1.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -33.5% against 2019 indices. The most prominent rate of growth was recorded in 2018 when exports increased by 29% against the previous year. Over the period under review, the exports attained the peak figure at X units in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, starter battery exports contracted notably to $X in 2022. Overall, total exports indicated a noticeable expansion from 2012 to 2022: its value increased at an average annual rate of +2.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2018 when exports increased by 30% against the previous year. The exports peaked at $X in 2021, and then shrank dramatically in the following year.

Exports by Country

Latvia (X units) was the main destination for starter battery exports from Lithuania, with a 68% share of total exports. Moreover, starter battery exports to Latvia exceeded the volume sent to the second major destination, Estonia (X units), fourfold. Poland (X units) ranked third in terms of total exports with a 3% share.

From 2012 to 2022, the average annual growth rate of volume to Latvia totaled +2.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Estonia (+3.4% per year) and Poland (+5.7% per year).

In value terms, Latvia ($X) remains the key foreign market for lead-acid accumulators for starting piston engines exports from Lithuania, comprising 62% of total exports. The second position in the ranking was taken by Estonia ($X), with a 15% share of total exports. It was followed by Belgium, with a 6.2% share.

From 2012 to 2022, the average annual growth rate of value to Latvia totaled +3.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Estonia (+3.2% per year) and Belgium (+141.9% per year).

Export Prices by Country

The average starter battery export price stood at $X per unit in 2022, increasing by 7% against the previous year. Over the last decade, it increased at an average annual rate of +1.4%. The pace of growth appeared the most rapid in 2020 an increase of 21% against the previous year. The export price peaked in 2022 and is likely to continue growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Belgium ($X per unit), while the average price for exports to Russia ($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 Poland (+4.8%), while the prices for the other major destinations experienced mixed trend patterns.

Starter Battery Imports

Imports into Lithuania

After two years of growth, supplies from abroad of lead-acid accumulators for starting piston engines decreased by -33.6% to X units in 2022. Over the period under review, imports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 31% against the previous year. As a result, imports attained the peak of X units, and then reduced rapidly in the following year.

In value terms, starter battery imports dropped markedly to $X in 2022. In general, total imports indicated a notable expansion from 2012 to 2022: its value increased at an average annual rate of +2.1% 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 +7.1% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of 49% against the previous year. As a result, imports reached the peak of $X, and then declined notably in the following year.

Imports by Country

Poland (X units), Ukraine (X units) and Finland (X units) were the main suppliers of starter battery imports to Lithuania, together comprising 47% of total imports. Germany, Bulgaria, the Czech Republic, Sweden, Austria, Italy, Latvia, Belgium, Turkey and China lagged somewhat behind, together comprising a further 46%.

From 2012 to 2022, the biggest increases were recorded for Sweden (with a CAGR of +49.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Poland ($X), Finland ($X) and Germany ($X) appeared to be the largest starter battery suppliers to Lithuania, with a combined 51% share of total imports. Ukraine, Austria, the Czech Republic, Bulgaria, Sweden, Latvia, Italy, Turkey, Belgium and China lagged somewhat behind, together accounting for a further 43%.

Sweden, with a CAGR of +37.4%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers 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 starter battery import price amounted to $X per unit, surging by 6.4% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.7%. The most prominent rate of growth was recorded in 2021 an increase of 14% against the previous year. The import price peaked in 2022 and is likely to see gradual growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Austria (+4.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform