Serbia: Electric Soldering Iron Market 2024

Electric Soldering Iron Market Size in Serbia

The Serbian electric soldering iron market surged to $X in 2022, rising by X% against the previous year. Overall, consumption saw a significant increase. Electric soldering iron consumption peaked in 2022 and is expected to retain growth in years to come.

Electric Soldering Iron Production in Serbia

In value terms, electric soldering iron production dropped dramatically to $X in 2022 estimated in export price. Overall, production, however, showed a significant expansion. Electric soldering iron production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Electric Soldering Iron Exports

Exports from Serbia

In 2022, approx. X units of electric soldering irons and guns were exported from Serbia; waning by X% on 2021 figures. In general, exports saw a drastic downturn. The pace of growth was the most pronounced in 2017 when exports increased by X%. As a result, the exports attained the peak of X units. From 2018 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, electric soldering iron exports dropped markedly to $X in 2022. Over the period under review, exports, however, posted a buoyant increase. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2021, and then contracted significantly in the following year.

Exports by Country

Germany (X units) was the main destination for electric soldering iron exports from Serbia, with a X% share of total exports. Moreover, electric soldering iron exports to Germany exceeded the volume sent to the second major destination, Bosnia and Herzegovina (X units), more than tenfold. North Macedonia (X units) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Germany amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bosnia and Herzegovina (X% per year) and North Macedonia (X% per year).

In value terms, Germany ($X) remains the key foreign market for electric soldering irons and guns exports from Serbia, comprising X% of total exports. The second position in the ranking was taken by North Macedonia ($X), with a X% share of total exports. It was followed by Montenegro, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Germany stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: North Macedonia (X% per year) and Montenegro (X% per year).

Export Prices by Country

The average electric soldering iron export price stood at $X per unit in 2022, declining by X% against the previous year. Overall, the export price, however, recorded a significant expansion. The most prominent rate of growth was recorded in 2018 an increase of X%. Over the period under review, the average export prices hit record highs at $X per unit in 2021, and then dropped modestly in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was North Macedonia ($X per unit), while the average price for exports to Bosnia and Herzegovina ($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 Vietnam (X%), while the prices for the other major destinations experienced more modest paces of growth.

Electric Soldering Iron Imports

Imports into Serbia

Electric soldering iron imports into Serbia surged to X units in 2022, picking up by X% on 2021 figures. Overall, imports continue to indicate a prominent increase. The pace of growth was the most pronounced in 2020 when imports increased by X%. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in years to come.

In value terms, electric soldering iron imports skyrocketed to $X in 2022. Over the period under review, imports enjoyed a strong expansion. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. Imports peaked in 2022 and are likely to see steady growth in years to come.

Imports by Country

In 2022, Taiwan (Chinese) (X units) constituted the largest electric soldering iron supplier to Serbia, accounting for a X% share of total imports. Moreover, electric soldering iron imports from Taiwan (Chinese) exceeded the figures recorded by the second-largest supplier, China (X units), twofold. The third position in this ranking was held by Japan (X units), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Taiwan (Chinese) amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and Japan (X% per year).

In value terms, China ($X), Taiwan (Chinese) ($X) and Spain ($X) constituted the largest electric soldering iron suppliers to Serbia, together comprising X% of total imports.

Taiwan (Chinese), with a CAGR of X%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average electric soldering iron import price amounted to $X per unit, shrinking by X% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the average import price increased by X%. As a result, import price reached the peak level of $X per unit. From 2020 to 2022, the average import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Spain ($X per unit), while the price for Slovenia ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform