Luxembourg: Market for Iron or Steel Leaf-Springs and Leaves 2024

Market Size for Iron or Steel Leaf-Springs and Leaves in Luxembourg

The Luxembourg iron or steel leaf-spring market soared to $X in 2022, picking up by 70% 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, consumption, however, recorded a slight descent. Iron or steel leaf-spring consumption peaked at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Exports of Iron or Steel Leaf-Springs and Leaves

Exports from Luxembourg

After two years of growth, overseas shipments of iron or steel leaf-springs and leaves decreased by -72.9% to X tons in 2022. In general, exports, however, posted a significant increase. The most prominent rate of growth was recorded in 2013 when exports increased by 261%. The exports peaked at X tons in 2021, and then fell sharply in the following year.

In value terms, iron or steel leaf-spring exports reduced dramatically to $X in 2022. Overall, exports, however, continue to indicate significant growth. The pace of growth was the most pronounced in 2013 with an increase of 263%. The exports peaked at $X in 2021, and then declined remarkably in the following year.

Exports by Country

Belgium (X tons), Germany (X tons) and France (X kg) were the main destinations of iron or steel leaf-spring exports from Luxembourg, with a combined 69% share of total exports. Austria, Portugal, the United States and Italy lagged somewhat behind, together comprising a further 18%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Austria (with a CAGR of +174.4%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for iron or steel leaf-spring exported from Luxembourg were Belgium ($X), Austria ($X) and Portugal ($X), with a combined 33% share of total exports. The United States, Germany, France and Italy lagged somewhat behind, together comprising a further 23%.

Italy, with a CAGR of +121.8%, 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 iron or steel leaf-spring export price stood at $X per ton in 2022, increasing by 212% against the previous year. Over the period under review, the export price posted a strong expansion. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Germany ($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 Italy (+75.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Iron or Steel Leaf-Springs and Leaves

Imports into Luxembourg

In 2022, the amount of iron or steel leaf-springs and leaves imported into Luxembourg shrank to X tons, dropping by -12.3% compared with 2021. Overall, imports saw a slight decline. The pace of growth appeared the most rapid in 2021 with an increase of 74% against the previous year. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, iron or steel leaf-spring imports dropped significantly to $X in 2022. Over the period under review, imports, however, recorded a mild expansion. The most prominent rate of growth was recorded in 2021 with an increase of 99% against the previous year. As a result, imports reached the peak of $X, and then contracted rapidly in the following year.

Imports by Country

In 2022, Germany (X tons) constituted the largest iron or steel leaf-spring supplier to Luxembourg, with a 48% share of total imports. Moreover, iron or steel leaf-spring imports from Germany exceeded the figures recorded by the second-largest supplier, Belgium (X tons), threefold. The third position in this ranking was taken by France (X tons), with an 11% share.

From 2012 to 2022, the average annual growth rate of volume from Germany amounted to +4.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (-12.3% per year) and France (+0.8% per year).

In value terms, Germany ($X) constituted the largest supplier of iron or steel leaf-springs and leaves to Luxembourg, comprising 39% of total imports. The second position in the ranking was taken by Sweden ($X), with a 19% share of total imports. It was followed by France, with a 16% share.

From 2012 to 2022, the average annual growth rate of value from Germany stood at +5.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Sweden (+73.1% per year) and France (-2.1% per year).

Import Prices by Country

In 2022, the average iron or steel leaf-spring import price amounted to $X per ton, shrinking by -15.3% against the previous year. In general, import price indicated notable growth from 2012 to 2022: its price increased at an average annual rate of +3.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2016 when the average import price increased by 28% against the previous year. The import price peaked at $X per ton in 2021, and then fell remarkably in the following year.

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 Sweden ($X per ton), while the price for Romania ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+5.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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