Luxembourg: Lock And Key Market 2024

Lock And Key Market Size in Luxembourg

In 2021, the Luxembourg lock and key market decreased by -4.1% to $X, falling for the third consecutive year after three years of growth. The market value increased at an average annual rate of +3.0% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Lock and key consumption peaked at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Lock And Key Exports

Exports from Luxembourg

In 2021, overseas shipments of padlocks, locks and keys of base metal increased by 767% to X tons, rising for the second consecutive year after two years of decline. In general, exports saw a significant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, lock and key exports skyrocketed to $X in 2021. Overall, exports enjoyed a significant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The Netherlands (X tons) was the main destination for lock and key exports from Luxembourg, with a 24% share of total exports. Moreover, lock and key exports to the Netherlands exceeded the volume sent to the second major destination, Romania (X tons), twofold. Hungary (X tons) ranked third in terms of total exports with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the Netherlands stood at +87.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (+255.5% per year) and Hungary (+191.1% per year).

In value terms, the largest markets for lock and key exported from Luxembourg were the Netherlands ($X), Romania ($X) and Hungary ($X), with a combined 51% share of total exports.

In terms of the main countries of destination, Romania, with a CAGR of +294.4%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average lock and key export price amounted to $X per ton, jumping by 31% against the previous year. Over the period under review, the export price enjoyed a buoyant expansion. The pace of growth was the most pronounced in 2018 when the average export price increased by 33%. The export price peaked in 2021 and is likely to continue growth in years to come.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Romania ($X per ton), while the average price for exports to Ireland ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Romania (+10.9%), while the prices for the other major destinations experienced more modest paces of growth.

Lock And Key Imports

Imports into Luxembourg

Lock and key imports into Luxembourg was estimated at X tons in 2021, almost unchanged from 2020. Over the period under review, total imports indicated a prominent expansion from 2012 to 2021: its volume increased at an average annual rate of +5.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +19.3% against 2019 indices. The pace of growth appeared the most rapid in 2017 when imports increased by 36% against the previous year. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, lock and key imports soared to $X in 2021. Overall, total imports indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +6.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Germany (X tons) constituted the largest lock and key supplier to Luxembourg, accounting for a 54% share of total imports. Moreover, lock and key imports from Germany exceeded the figures recorded by the second-largest supplier, Belgium (X tons), threefold. The Netherlands (X tons) ranked third in terms of total imports with a 17% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Germany amounted to +3.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+4.2% per year) and the Netherlands (+30.5% per year).

In value terms, Germany ($X) constituted the largest supplier of padlocks, locks and keys of base metal to Luxembourg, comprising 55% of total imports. The second position in the ranking was taken by Belgium ($X), with a 17% share of total imports. It was followed by the Netherlands, with a 15% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Germany amounted to +3.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+5.0% per year) and the Netherlands (+35.3% per year).

Import Prices by Country

In 2021, the average lock and key import price amounted to $X per ton, with an increase of 42% against the previous year. Over the period under review, the import price saw a mild increase. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was France ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+11.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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