Lithuania: Vacuum Pump Market 2024

Vacuum Pump Market Size in Lithuania

In 2022, the Lithuanian vacuum pump market increased by 24% to $X, rising for the second year in a row after four years of decline. Overall, consumption, however, continues to indicate a abrupt decline. Vacuum pump consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Vacuum Pump Production in Lithuania

In value terms, vacuum pump production reduced modestly to $X in 2022 estimated in export price. In general, production, however, recorded a resilient increase. The most prominent rate of growth was recorded in 2013 with an increase of 560%. Over the period under review, production hit record highs at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

Vacuum Pump Exports

Exports from Lithuania

Vacuum pump exports from Lithuania skyrocketed to X units in 2022, growing by 77% on the previous year. In general, exports, however, showed a relatively flat trend pattern. The exports peaked at X units in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, vacuum pump exports dropped sharply to $X in 2022. Over the period under review, exports, however, showed a abrupt downturn. The growth pace was the most rapid in 2015 with an increase of 34% against the previous year. As a result, the exports reached the peak of $X. From 2016 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Latvia (X units), Estonia (X units) and Germany (X units) were the main destinations of vacuum pump exports from Lithuania, together comprising 16% of total exports. Belarus, Russia, Serbia, the United Arab Emirates, Kyrgyzstan, Kazakhstan, Turkey, Georgia, Ukraine and the UK lagged somewhat behind, together accounting for a further 20%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Turkey (with a CAGR of +335.0%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for vacuum pump exported from Lithuania were Russia ($X), Latvia ($X) and Germany ($X), together comprising 36% of total exports. The United Arab Emirates, Kazakhstan, Estonia, Turkey, Belarus, the UK, Kyrgyzstan, Serbia, Ukraine and Georgia lagged somewhat behind, together accounting for a further 41%.

Turkey, with a CAGR of +356.9%, recorded the highest rates of growth with regard to 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

In 2022, the average vacuum pump export price amounted to $X per unit, waning by -71.1% against the previous year. Overall, the export price continues to indicate a deep reduction. The pace of growth appeared the most rapid in 2018 when the average export price increased by 352%. As a result, the export price attained the peak level of $X per unit. From 2019 to 2022, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Russia ($X per unit), while the average price for exports to Georgia ($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 Germany (+37.6%), while the prices for the other major destinations experienced more modest paces of growth.

Vacuum Pump Imports

Imports into Lithuania

In 2022, the amount of vacuum pumps imported into Lithuania surged to X units, picking up by 143% on the previous year. Overall, imports continue to indicate significant growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, vacuum pump imports dropped to $X in 2022. In general, imports saw strong growth. The most prominent rate of growth was recorded in 2016 with an increase of 79% against the previous year. Over the period under review, imports attained the maximum at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The Netherlands (X units), China (X units) and Latvia (X units) were the main suppliers of vacuum pump imports to Lithuania, together comprising 35% of total imports. Poland, Germany, Taiwan (Chinese), Estonia, Italy and Hungary lagged somewhat behind, together accounting for a further 12%.

From 2012 to 2022, the biggest increases were recorded for Taiwan (Chinese) (with a CAGR of +54.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest vacuum pump suppliers to Lithuania were the Netherlands ($X), Germany ($X) and Italy ($X), together comprising 56% of total imports.

The Netherlands, with a CAGR of +41.8%, saw 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 vacuum pump import price stood at $X per unit in 2022, falling by -63.8% against the previous year. Overall, the import price showed a abrupt descent. The pace of growth was the most pronounced in 2018 when the average import price increased by 164% against the previous year. 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.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per unit), while the price for Taiwan (Chinese) ($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 (+17.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform