Lithuania: Market for Lifts, Elevators, Moving Stairways and Draglines 2024

Market Size for Lifts, Elevators, Moving Stairways and Draglines in Lithuania

The Lithuanian market for lifts, elevators, moving stairways and draglines surged to $X in 2022, picking up by 1,227% against the previous year. In general, consumption recorded a significant increase. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Production of Lifts, Elevators, Moving Stairways and Draglines in Lithuania

In value terms, lift, elevator, stairway and dragline production skyrocketed to $X in 2022 estimated in export price. Overall, production showed a strong increase. The growth pace was the most rapid in 2014 when the production volume increased by 69% against the previous year. Over the period under review, production reached the peak level at $X in 2020; afterwards, it flattened through to 2022.

Exports of Lifts, Elevators, Moving Stairways and Draglines

Exports from Lithuania

In 2022, approx. X units of lifts, elevators, moving stairways and draglines were exported from Lithuania; increasing by 12% on the previous year's figure. Over the period under review, exports continue to indicate a resilient expansion. The most prominent rate of growth was recorded in 2020 when exports increased by 102% against the previous year. As a result, the exports attained the peak of X units. From 2021 to 2022, the growth of the exports failed to regain momentum.

In value terms, lift, elevator, stairway and dragline exports expanded slightly to $X in 2022. In general, exports continue to indicate modest growth. The pace of growth was the most pronounced in 2020 with an increase of 107%. As a result, the exports attained the peak of $X. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Germany (X units), Sweden (X units) and France (X units) were the main destinations of lift, elevator, stairway and dragline exports from Lithuania, with a combined 45% share 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 Sweden (with a CAGR of +132.8%), while the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Sweden ($X) and France ($X) constituted the largest markets for lift, elevator, stairway and dragline exported from Lithuania worldwide, with a combined 45% share of total exports.

Sweden, with a CAGR of +130.0%, 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

The average export price for lifts, elevators, moving stairways and draglines stood at $X per unit in 2022, shrinking by -8.5% against the previous year. Overall, the export price showed a abrupt decline. The most prominent rate of growth was recorded in 2015 an increase of 33% against the previous year. The export price peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the countries with the highest prices were Russia ($X per unit) and Australia ($X per unit), while the average price for exports to Kazakhstan ($X per unit) and the UK ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Spain (+33.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Lifts, Elevators, Moving Stairways and Draglines

Imports into Lithuania

In 2022, purchases abroad of lifts, elevators, moving stairways and draglines decreased by -14.8% to X units, falling for the second year in a row after two years of growth. Over the period under review, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 29% against the previous year. Imports peaked at X units in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, lift, elevator, stairway and dragline imports shrank significantly to $X in 2022. Overall, imports showed a pronounced descent. The most prominent rate of growth was recorded in 2017 when imports increased by 44% against the previous year. Imports peaked at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

Slovakia (X units), Spain (X units) and Poland (X units) were the main suppliers of lift, elevator, stairway and dragline imports to Lithuania, together accounting for 65% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Slovakia (with a CAGR of +23.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Slovakia ($X), Spain ($X) and Poland ($X) appeared to be the largest lift, elevator, stairway and dragline suppliers to Lithuania, together comprising 64% of total imports. Germany, Austria, Greece, Sweden, Italy, Finland and France lagged somewhat behind, together comprising a further 31%.

Greece, with a CAGR of +21.1%, recorded the highest growth rate of the value of imports, in terms of the main suppliers 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 lifts, elevators, moving stairways and draglines stood at $X per unit in 2022, falling by -7.6% against the previous year. In general, the import price saw a pronounced contraction. The most prominent rate of growth was recorded in 2015 when the average import price increased by 16% against the previous year. Over the period under review, average import prices hit record highs at $X per unit in 2013; however, from 2014 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 ($X per unit), while the price for France ($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 (+1.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform