Serbia: Cranks And Crankshafts Market 2024

Cranks And Crankshafts Market Size in Serbia

The Serbian cranks and crankshafts market surged to $X in 2022, picking up by 40% against the previous year. In general, consumption enjoyed a buoyant expansion. Cranks and crankshafts consumption peaked in 2022 and is likely to continue growth in years to come.

Cranks And Crankshafts Production in Serbia

In value terms, cranks and crankshafts production surged to $X in 2022 estimated in export price. Overall, production recorded a significant increase. As a result, production reached the peak level and is likely to continue growth in the immediate term.

Cranks And Crankshafts Exports

Exports from Serbia

For the third year in a row, Serbia recorded growth in shipments abroad of cranks and crankshafts, which increased by 53% to X tons in 2022. Over the period under review, exports posted a prominent increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, cranks and crankshafts exports soared to $X in 2022. Overall, exports recorded a strong expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Bulgaria (X tons), Lithuania (X tons) and Russia (X tons) were the main destinations of cranks and crankshafts exports from Serbia, together accounting for 54% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Lithuania (with a CAGR of +678.2%), while the other leaders experienced more modest paces of growth.

In value terms, Switzerland ($X), Russia ($X) and Bulgaria ($X) constituted the largest markets for cranks and crankshafts exported from Serbia worldwide, with a combined 63% share of total exports. Lithuania, Germany, Bosnia and Herzegovina, Austria, North Macedonia, Slovenia, Kazakhstan, Croatia and the UK lagged somewhat behind, together comprising a further 28%.

Among the main countries of destination, Lithuania, with a CAGR of +820.7%, saw the highest rates of growth with regard to 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 2022, the average cranks and crankshafts export price amounted to $X per ton, picking up by 70% against the previous year. Over the period under review, export price indicated a temperate expansion from 2012 to 2022: its price increased at an average annual rate of +3.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, cranks and crankshafts export price increased by +55.9% against 2019 indices. The export price peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Switzerland ($X per ton), while the average price for exports to Bulgaria ($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 Lithuania (+18.3%), while the prices for the other major destinations experienced more modest paces of growth.

Cranks And Crankshafts Imports

Imports into Serbia

In 2022, the amount of cranks and crankshafts imported into Serbia soared to X tons, surging by 31% compared with 2021 figures. Overall, imports enjoyed a resilient increase. The growth pace was the most rapid in 2021 with an increase of 53% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, cranks and crankshafts imports surged to $X in 2022. Over the period under review, imports showed a resilient expansion. The growth pace was the most rapid in 2021 when imports increased by 57%. Imports peaked in 2022 and are likely to continue growth in years to come.

Imports by Country

In 2022, China (X tons) constituted the largest cranks and crankshafts supplier to Serbia, with a 51% share of total imports. Moreover, cranks and crankshafts imports from China exceeded the figures recorded by the second-largest supplier, Germany (X tons), threefold. Romania (X tons) ranked third in terms of total imports with a 7.1% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at +45.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+24.2% per year) and Romania (+47.4% per year).

In value terms, China ($X), Germany ($X) and Switzerland ($X) were the largest cranks and crankshafts suppliers to Serbia, with a combined 70% share of total imports.

Among the main suppliers, Switzerland, with a CAGR of +61.6%, recorded the highest rates of growth with regard to 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

The average cranks and crankshafts import price stood at $X per ton in 2022, picking up by 13% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when the average import price increased by 16% against the previous year. As a result, import price attained the peak level of $X per ton. From 2014 to 2022, the average import prices failed to regain momentum.

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 Switzerland ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Czech Republic (+25.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform