Lithuania: Unit Construction Machine Market 2024

Unit Construction Machine Market Size in Lithuania

For the fourth consecutive year, the Lithuanian unit construction machine market recorded decline in sales value, which decreased by X% to $X in 2022. Over the period under review, consumption recorded a drastic downturn. Unit construction machine consumption peaked at $X in 2016; however, from 2017 to 2022, consumption failed to regain momentum.

Unit Construction Machine Production in Lithuania

In value terms, unit construction machine production fell to $X in 2022 estimated in export price. Overall, production showed a deep reduction. The pace of growth was the most pronounced in 2015 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2016 to 2022, production growth failed to regain momentum.

Unit Construction Machine Exports

Exports from Lithuania

In 2022, overseas shipments of unit construction machines for working metal increased by X% to X units for the first time since 2018, thus ending a three-year declining trend. Overall, exports continue to indicate a significant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, unit construction machine exports skyrocketed to $X in 2022. Over the period under review, exports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. As a result, the exports reached the peak of $X. From 2019 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Estonia (X units) was the main destination for unit construction machine exports from Lithuania, with a X% share of total exports. Moreover, unit construction machine exports to Estonia exceeded the volume sent to the second major destination, Kazakhstan (X units), fourfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Estonia was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Kazakhstan (X% per year) and Russia (X% per year).

From 2012 to 2022, the average annual rate of growth in terms of value to Estonia was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Russia (X% per year) and Kazakhstan (X% per year).

Export Prices by Country

The average unit construction machine export price stood at $X per unit in 2022, dropping by X% against the previous year. Over the period under review, the export price continues to indicate a abrupt setback. The growth pace was the most rapid in 2014 an increase of X%. Over the period under review, the average export prices hit record highs at $X per unit in 2020; however, from 2021 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 Russia ($X per unit), while the average price for exports to Kazakhstan ($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 (X%).

Unit Construction Machine Imports

Imports into Lithuania

In 2022, approx. X units of unit construction machines for working metal were imported into Lithuania; which is down by X% compared with the previous year's figure. In general, imports, however, showed a significant increase. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. Over the period under review, imports hit record highs at X units in 2021, and then contracted in the following year.

In value terms, unit construction machine imports contracted dramatically to $X in 2022. Over the period under review, imports, however, posted a tangible increase. The pace of growth was the most pronounced in 2015 when imports increased by X%. Imports peaked at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Italy (X units) constituted the largest unit construction machine supplier to Lithuania, accounting for a X% share of total imports. Moreover, unit construction machine imports from Italy exceeded the figures recorded by the second-largest supplier, the UK (X units), threefold. Norway (X units) ranked third in terms of total imports with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Italy amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (X% per year) and Norway (X% per year).

In value terms, Italy ($X) constituted the largest supplier of unit construction machines for working metal to Lithuania, comprising X% of total imports. The second position in the ranking was taken by Latvia ($X), with a X% share of total imports. It was followed by the UK, with a X% share.

From 2012 to 2022, the average annual growth rate of value from Italy was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Latvia (X% per year) and the UK (X% per year).

Import Prices by Country

The average unit construction machine import price stood at $X per unit in 2022, dropping by X% against the previous year. Over the period under review, the import price saw a abrupt shrinkage. The pace of growth appeared the most rapid in 2018 an increase of X%. As a result, import price attained the peak level of $X per unit. From 2019 to 2022, the average import prices remained 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 Latvia ($X per unit), while the price for the Czech Republic ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform