Russian Federation: Metal Vehicle Lock Market 2024

Metal Vehicle Lock Market Size in the Russian Federation

In 2021, after two years of decline, there was significant growth in the Russian metal vehicle lock market, when its value increased by 28% to $X. Overall, consumption, however, recorded a relatively flat trend pattern. Metal vehicle lock consumption peaked at $X in 2013; however, from 2014 to 2021, consumption failed to regain momentum.

Metal Vehicle Lock Exports

Exports from the Russian Federation

In 2021, overseas shipments of base metal motor vehicle locks increased by 10% to X tons, rising for the fifth year in a row after four years of decline. Overall, exports recorded a slight expansion. The most prominent rate of growth was recorded in 2017 with an increase of 182%. The exports peaked in 2021 and are likely to see steady growth in years to come.

In value terms, metal vehicle lock exports surged to $X in 2021. Over the period under review, exports showed a tangible expansion. The growth pace was the most rapid in 2017 with an increase of 161% against the previous year. The exports peaked in 2021 and are expected to retain growth in the immediate term.

Exports by Country

Ukraine (X tons) was the main destination for metal vehicle lock exports from Russia, with a 38% share of total exports. Moreover, metal vehicle lock exports to Ukraine exceeded the volume sent to the second major destination, Kazakhstan (X tons), threefold. Azerbaijan (X tons) ranked third in terms of total exports with a 12% share.

From 2012 to 2021, the average annual growth rate of volume to Ukraine totaled -4.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kazakhstan (+14.4% per year) and Azerbaijan (+4.0% per year).

In value terms, the largest markets for metal vehicle lock exported from Russia were Ukraine ($X), Kazakhstan ($X) and Belarus ($X), together comprising 55% of total exports. France, Azerbaijan, Egypt, Uzbekistan and Turkey lagged somewhat behind, together accounting for a further 28%.

Among the main countries of destination, Uzbekistan, with a CAGR of +82.6%, saw 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

The average metal vehicle lock export price stood at $X per ton in 2021, jumping by 45% against the previous year. In general, export price indicated a modest expansion from 2012 to 2021: its price increased at an average annual rate of +1.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The export price peaked at $X per ton in 2015; however, from 2016 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Belarus ($X per ton), while the average price for exports to Uzbekistan ($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 Egypt (+2.1%), while the prices for the other major destinations experienced more modest paces of growth.

Metal Vehicle Lock Imports

Imports into the Russian Federation

In 2021, purchases abroad of base metal motor vehicle locks was finally on the rise to reach X tons after two years of decline. In general, imports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 when imports increased by 26% against the previous year. Imports peaked at X tons in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, metal vehicle lock imports surged to $X in 2021. Over the period under review, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when imports increased by 36%. Over the period under review, imports attained the maximum at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

The Czech Republic (X tons), South Korea (X tons) and Japan (X tons) were the main suppliers of metal vehicle lock imports to Russia, together accounting for 58% of total imports. These countries were followed by China, Romania, Germany, Serbia, Belarus, France, Turkey, Italy and Vietnam, which together accounted for a further 37%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Vietnam (with a CAGR of +830.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the Czech Republic ($X), South Korea ($X) and Germany ($X) were the largest metal vehicle lock suppliers to Russia, with a combined 53% share of total imports. Japan, China, Romania, Serbia, Italy, France, Vietnam, Turkey and Belarus lagged somewhat behind, together accounting for a further 41%.

Among the main suppliers, Vietnam, with a CAGR of +688.2%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average metal vehicle lock import price amounted to $X per ton, with an increase of 9.3% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. Over the period under review, average import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+5.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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