Lithuania: Non-Electric Industrial Furnace Market 2024

Non-Electric Industrial Furnace Market Size in Lithuania

The Lithuanian non-electric industrial furnace market contracted remarkably to $X in 2022, falling by -52.1% against the previous year. Over the period under review, consumption continues to indicate a strong increase. As a result, consumption reached the peak level of $X, and then declined sharply in the following year.

Non-Electric Industrial Furnace Production in Lithuania

In value terms, non-electric industrial furnace production dropped remarkably to $X in 2022 estimated in export price. In general, production posted a significant increase. The pace of growth appeared the most rapid in 2021 with an increase of 201% against the previous year. As a result, production attained the peak level of $X, and then dropped notably in the following year.

Non-Electric Industrial Furnace Exports

Exports from Lithuania

In 2022, the amount of non-electric industrial or laboratory furnaces and ovens exported from Lithuania soared to X units, surging by 2,415% compared with the previous year's figure. In general, exports, however, showed a relatively flat trend pattern. The exports peaked at X units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, non-electric industrial furnace exports surged to $X in 2022. Over the period under review, exports saw a noticeable expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Ukraine (X units) was the main destination for non-electric industrial furnace exports from Lithuania, accounting for a 82% share of total exports. Moreover, non-electric industrial furnace exports to Ukraine exceeded the volume sent to the second major destination, Uzbekistan (X units), fivefold.

From 2012 to 2022, the average annual growth rate of volume to Ukraine was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Uzbekistan (+34.8% per year) and Russia (-39.6% per year).

In value terms, Ukraine ($X) emerged as the key foreign market for non-electric industrial or laboratory furnaces and ovens exports from Lithuania, comprising 73% of total exports. The second position in the ranking was taken by Uzbekistan ($X), with a 25% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Ukraine was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Uzbekistan (+38.6% per year) and Russia (-33.3% per year).

Export Prices by Country

The average non-electric industrial furnace export price stood at $X per unit in 2022, therefore, remained relatively stable against the previous year. In general, the export price, however, showed a tangible expansion. The most prominent rate of growth was recorded in 2016 when the average export price increased by 636% against the previous year. The export price peaked at $X per unit in 2017; however, from 2018 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, the country with the highest price was Russia ($X per unit), while the average price for exports to Ukraine ($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 Russia (+10.5%), while the prices for the other major destinations experienced more modest paces of growth.

Non-Electric Industrial Furnace Imports

Imports into Lithuania

In 2022, imports of non-electric industrial or laboratory furnaces and ovens into Lithuania skyrocketed to X units, growing by 26% on 2021 figures. In general, imports, however, showed a deep reduction. The growth pace was the most rapid in 2020 with an increase of 65%. Over the period under review, imports reached the peak figure at X units in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, non-electric industrial furnace imports skyrocketed to $X in 2022. Overall, imports, however, showed a abrupt decline. The most prominent rate of growth was recorded in 2017 when imports increased by 577% against the previous year. As a result, imports attained the peak of $X. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, the Czech Republic (X units) constituted the largest non-electric industrial furnace supplier to Lithuania, with a 74% share of total imports. Moreover, non-electric industrial furnace imports from the Czech Republic exceeded the figures recorded by the second-largest supplier, Italy (X units), more than tenfold. The third position in this ranking was taken by Spain (X units), with a 6.3% share.

From 2012 to 2022, the average annual growth rate of volume from the Czech Republic amounted to +120.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-35.3% per year) and Spain (+42.2% per year).

In value terms, the Czech Republic ($X) constituted the largest supplier of non-electric industrial or laboratory furnaces and ovens to Lithuania, comprising 88% of total imports. The second position in the ranking was held by Spain ($X), with a 5.7% share of total imports. It was followed by Germany, with a 2.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the Czech Republic stood at +112.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+42.7% per year) and Germany (+9.7% per year).

Import Prices by Country

In 2022, the average non-electric industrial furnace import price amounted to $X per unit, picking up by 180% against the previous year. In general, the import price saw a strong expansion. The pace of growth appeared the most rapid in 2017 an increase of 417% against the previous year. As a result, import price attained the peak level of $X per unit. From 2018 to 2022, the average import prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was the Czech Republic ($X per unit), while the price for the UK ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+18.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform