Serbia: Fire Extinguisher Market 2024

Fire Extinguisher Market Size in Serbia

The Serbian fire extinguisher market soared to $X in 2022, with an increase of 96% against the previous year. In general, consumption enjoyed moderate growth. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Fire Extinguisher Production in Serbia

In value terms, fire extinguisher production rose markedly to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a perceptible shrinkage. The most prominent rate of growth was recorded in 2020 with an increase of 27% against the previous year. Over the period under review, production attained the maximum level at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

Fire Extinguisher Exports

Exports from Serbia

In 2022, exports of fire extinguishers from Serbia dropped modestly to X units, standing approx. at the previous year. Over the period under review, exports, however, showed a significant increase. The pace of growth was the most pronounced in 2015 with an increase of 52% against the previous year. The exports peaked at X units in 2021, and then fell slightly in the following year.

In value terms, fire extinguisher exports stood at $X in 2022. Overall, exports, however, continue to indicate a strong expansion. The growth pace was the most rapid in 2014 when exports increased by 69% against the previous year. The exports peaked in 2022 and are likely to see steady growth in the near future.

Exports by Country

Bosnia and Herzegovina (X units) was the main destination for fire extinguisher exports from Serbia, accounting for a 72% share of total exports. Moreover, fire extinguisher exports to Bosnia and Herzegovina exceeded the volume sent to the second major destination, Montenegro (X units), fivefold. North Macedonia (X units) ranked third in terms of total exports with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Bosnia and Herzegovina amounted to +40.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Montenegro (+12.5% per year) and North Macedonia (+25.5% per year).

In value terms, Bosnia and Herzegovina ($X) remains the key foreign market for fire extinguishers exports from Serbia, comprising 62% of total exports. The second position in the ranking was taken by Montenegro ($X), with a 20% share of total exports. It was followed by North Macedonia, with a 12% share.

From 2012 to 2022, the average annual growth rate of value to Bosnia and Herzegovina totaled +31.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Montenegro (+6.5% per year) and North Macedonia (+15.7% per year).

Export Prices by Country

In 2022, the average fire extinguisher export price amounted to $X per unit, surging by 1.6% against the previous year. Over the period under review, the export price, however, recorded a abrupt slump. The most prominent rate of growth was recorded in 2014 an increase of 28% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2015 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Croatia ($X per unit), while the average price for exports to Bosnia and Herzegovina ($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 Croatia (-3.1%), while the prices for the other major destinations experienced a decline.

Fire Extinguisher Imports

Imports into Serbia

In 2022, imports of fire extinguishers into Serbia surged to X units, growing by 395% compared with the previous year. Over the period under review, imports enjoyed buoyant growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, fire extinguisher imports skyrocketed to $X in 2022. Overall, imports saw a buoyant expansion. The pace of growth appeared the most rapid in 2020 with an increase of 121%. Imports peaked in 2022 and are likely to see gradual growth in the immediate term.

Imports by Country

China (X units), Turkey (X units) and Greece (X units) were the main suppliers of fire extinguisher imports to Serbia, together accounting for 25% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Turkey (with a CAGR of +1,051.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest fire extinguisher suppliers to Serbia were China ($X), Turkey ($X) and the UK ($X), together comprising 18% of total imports.

Turkey, with a CAGR of +609.9%, saw the highest rates of growth with regard to 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 fire extinguisher import price amounted to $X per unit, shrinking by -56.7% against the previous year. In general, the import price showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of 57% against the previous year. As a result, import price reached the peak level of $X per unit, and then plummeted in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Croatia (+21.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform