Russian Federation: Lift And Hoist Market 2024

Lift And Hoist Market Size in the Russian Federation

The Russian lift and hoist market fell to $X in 2022, waning by -1.7% 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). Over the period under review, consumption recorded a mild contraction. As a result, consumption attained the peak level of $X. From 2017 to 2022, the growth of the market remained at a somewhat lower figure.

Lift And Hoist Exports

Exports from the Russian Federation

In 2022, the amount of lifts and hoists exported from Russia contracted to X units, declining by -7.5% on 2021. In general, exports recorded a perceptible contraction. The pace of growth appeared the most rapid in 2016 with an increase of 545% against the previous year. Over the period under review, the exports reached the maximum at X units in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, lift and hoist exports reduced to $X in 2022. Over the period under review, exports showed a slight shrinkage. The most prominent rate of growth was recorded in 2016 with an increase of 532%. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Kazakhstan (X units) was the main destination for lift and hoist exports from Russia, accounting for a 54% share of total exports. Moreover, lift and hoist exports to Kazakhstan exceeded the volume sent to the second major destination, Armenia (X units), twofold. The third position in this ranking was taken by Estonia (X units), with a 5% share.

From 2012 to 2022, the average annual growth rate of volume to Kazakhstan stood at +11.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Armenia (+22.2% per year) and Estonia (+48.6% per year).

In value terms, Kazakhstan ($X) emerged as the key foreign market for lifts and hoists exports from Russia, comprising 65% of total exports. The second position in the ranking was held by Armenia ($X), with an 8.1% share of total exports. It was followed by Estonia, with a 6.2% share.

From 2012 to 2022, the average annual growth rate of value to Kazakhstan stood at +12.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Armenia (+7.0% per year) and Estonia (+87.3% per year).

Export Prices by Country

The average lift and hoist export price stood at $X per unit in 2022, increasing by 3.8% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.4%. The pace of growth was the most pronounced in 2013 an increase of 26%. The export price peaked at $X per unit in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Estonia ($X per unit), while the average price for exports to Armenia ($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 Estonia (+26.0%), while the prices for the other major destinations experienced more modest paces of growth.

Lift And Hoist Imports

Imports into the Russian Federation

In 2022, the amount of lifts and hoists imported into Russia shrank slightly to X units, reducing by -4.1% compared with the year before. Overall, total imports indicated a slight expansion from 2012 to 2022: its volume increased at an average annual rate of +1.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +4.4% against 2020 indices. The most prominent rate of growth was recorded in 2016 with an increase of 106% against the previous year. As a result, imports attained the peak of X units. From 2017 to 2022, the growth of imports failed to regain momentum.

In value terms, lift and hoist imports reduced modestly to $X in 2022. In general, imports continue to indicate a noticeable shrinkage. The growth pace was the most rapid in 2016 when imports increased by 105%. As a result, imports attained the peak of $X. From 2017 to 2022, the growth of imports failed to regain momentum.

Imports by Country

China (X units), Turkey (X units) and Germany (X units) were the main suppliers of lift and hoist imports to Russia, with a combined 65% share of total imports. Greece, Slovakia, Finland and South Korea lagged somewhat behind, together comprising a further 8.9%.

From 2012 to 2022, the biggest increases were recorded for Slovakia (with a CAGR of +39.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of lifts and hoists to Russia, comprising 40% of total imports. The second position in the ranking was taken by Turkey ($X), with a 19% share of total imports. It was followed by Germany, with an 8.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to +8.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+28.0% per year) and Germany (-5.3% per year).

Import Prices by Country

In 2022, the average lift and hoist import price amounted to $X per unit, growing by 3.1% against the previous year. Overall, the import price, however, saw a pronounced setback. The pace of growth was the most pronounced in 2020 when the average import price increased by 11%. Over the period under review, average import prices hit record highs at $X per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from China ($X per unit) and Finland ($X per unit), while the price for South Korea ($X per unit) and Turkey ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Slovakia (-4.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :