Lithuania: Metal Cutting Shear Market 2024

Metal Cutting Shear Market Size in Lithuania

The Lithuanian metal cutting shear market rose rapidly to $X in 2022, increasing by 9.1% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, the total consumption indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +6.5% 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 +71.1% against 2016 indices. Over the period under review, the market hit record highs in 2022 and is likely to continue growth in the immediate term.

Metal Cutting Shear Exports

Exports from Lithuania

In 2022, exports of metal cutting shears and similar hand tools from Lithuania contracted to X tons, falling by -8.9% on the year before. In general, exports, however, continue to indicate prominent growth. The pace of growth appeared the most rapid in 2017 with an increase of 58%. The exports peaked at X tons in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, metal cutting shear exports expanded slightly to $X in 2022. Over the period under review, exports, however, continue to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2014 when exports increased by 95% against the previous year. Over the period under review, the exports attained the maximum at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

Latvia (X tons), Estonia (X tons) and Russia (X tons) were the main destinations of metal cutting shear exports from Lithuania, with a combined 76% 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 Estonia (with a CAGR of +53.1%), while the other leaders experienced more modest paces of growth.

In value terms, Russia ($X), Latvia ($X) and Georgia ($X) appeared to be the largest markets for metal cutting shear exported from Lithuania worldwide, together comprising 71% of total exports. Estonia, Belarus, Norway and Germany lagged somewhat behind, together comprising a further 20%.

Estonia, with a CAGR of +53.2%, saw the highest rates of growth with regard to the value of exports, in terms of 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 metal cutting shear export price stood at $X per ton in 2022, growing by 13% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 an increase of 43%. Over the period under review, the average export prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Georgia ($X per ton), while the average price for exports to Belarus ($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 Russia (+5.3%), while the prices for the other major destinations experienced more modest paces of growth.

Metal Cutting Shear Imports

Imports into Lithuania

In 2022, the amount of metal cutting shears and similar hand tools imported into Lithuania reduced modestly to X tons, remaining relatively unchanged against the previous year. Over the period under review, imports, however, recorded a buoyant increase. The pace of growth appeared the most rapid in 2014 when imports increased by 31% against the previous year. Over the period under review, imports hit record highs at X tons in 2021, and then declined slightly in the following year.

In value terms, metal cutting shear imports rose significantly to $X in 2022. Overall, imports, however, showed a remarkable increase. The growth pace was the most rapid in 2014 when imports increased by 36%. Imports peaked in 2022 and are likely to see gradual growth in the near future.

Imports by Country

China (X tons), Poland (X tons) and Germany (X tons) were the main suppliers of metal cutting shear imports to Lithuania, together accounting for 81% of total imports. Belgium, Latvia, Taiwan (Chinese) and Estonia lagged somewhat behind, together accounting for a further 14%.

From 2012 to 2022, the biggest increases were recorded for Latvia (with a CAGR of +39.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest metal cutting shear suppliers to Lithuania were Poland ($X), Germany ($X) and China ($X), with a combined 73% share of total imports. Belgium, Estonia, Latvia and Taiwan (Chinese) lagged somewhat behind, together comprising a further 19%.

Taiwan (Chinese), with a CAGR of +37.6%, saw the highest growth rate of 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

The average metal cutting shear import price stood at $X per ton in 2022, growing by 10% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.4%. The pace of growth was the most pronounced in 2013 when the average import price increased by 24% against the previous year. The import price peaked at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

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 Estonia ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+4.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform