Serbia: Jacks And Hoists Market 2024

Jacks And Hoists Market Size in Serbia

The Serbian jacks and hoists market contracted markedly to $X in 2022, waning by -16.5% against the previous year. The market value increased at an average annual rate of +2.6% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the maximum level at $X in 2015; however, from 2016 to 2022, consumption remained at a lower figure.

Jacks And Hoists Production in Serbia

In value terms, jacks and hoists production reduced to $X in 2022 estimated in export price. In general, the total production indicated a tangible increase from 2012 to 2022: its value increased at an average annual rate of +2.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -25.2% against 2019 indices. The pace of growth was the most pronounced in 2019 with an increase of 66%. As a result, production reached the peak level of $X. From 2020 to 2022, production growth failed to regain momentum.

Jacks And Hoists Exports

Exports from Serbia

In 2022, overseas shipments of jacks and hoists for raising vehicles were finally on the rise to reach X units after two years of decline. Overall, exports posted slight growth. The pace of growth appeared the most rapid in 2019 when exports increased by 677%. As a result, the exports attained the peak of X units. From 2020 to 2022, the growth of the exports failed to regain momentum.

In value terms, jacks and hoists exports surged to $X in 2022. Over the period under review, exports saw a resilient expansion. The most prominent rate of growth was recorded in 2020 with an increase of 328%. Over the period under review, the exports reached the maximum at $X in 2014; afterwards, it flattened through to 2022.

Exports by Country

Italy (X units) was the main destination for jacks and hoists exports from Serbia, accounting for a 91% share of total exports. Moreover, jacks and hoists exports to Italy exceeded the volume sent to the second major destination, Indonesia (X units), more than tenfold. The third position in this ranking was held by India (X units), with a 3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Italy amounted to +159.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (+143.5% per year) and India (+84.5% per year).

In value terms, Italy ($X) emerged as the key foreign market for jacks and hoists for raising vehicles exports from Serbia, comprising 69% of total exports. The second position in the ranking was taken by Indonesia ($X), with a 16% share of total exports. It was followed by India, with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Italy stood at +118.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (+197.5% per year) and India (+110.1% per year).

Export Prices by Country

In 2022, the average jacks and hoists export price amounted to $X per unit, declining by -65.6% against the previous year. Overall, the export price, however, continues to indicate a strong increase. The most prominent rate of growth was recorded in 2020 when the average export price increased by 2,669% against the previous year. The export price peaked at $X per unit in 2021, and then contracted notably in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was North Macedonia ($X per unit), while the average price for exports to Germany ($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 Indonesia (+22.2%), while the prices for the other major destinations experienced more modest paces of growth.

Jacks And Hoists Imports

Imports into Serbia

For the third consecutive year, Serbia recorded growth in purchases abroad of jacks and hoists for raising vehicles, which increased by 64% to X units in 2022. Over the period under review, imports posted a strong increase. The most prominent rate of growth was recorded in 2018 with an increase of 252% against the previous year. As a result, imports reached the peak of X units. From 2019 to 2022, the growth of imports failed to regain momentum.

In value terms, jacks and hoists imports soared to $X in 2022. Overall, imports continue to indicate a strong expansion. The most prominent rate of growth was recorded in 2018 when imports increased by 176% against the previous year. Imports peaked at $X in 2020; however, from 2021 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X units) constituted the largest jacks and hoists supplier to Serbia, accounting for a 79% share of total imports. Moreover, jacks and hoists imports from China exceeded the figures recorded by the second-largest supplier, Croatia (X units), more than tenfold. The third position in this ranking was taken by Turkey (X units), with a 3.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +24.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Croatia (+38.4% per year) and Turkey (+28.0% per year).

In value terms, China ($X), Germany ($X) and Italy ($X) were the largest jacks and hoists suppliers to Serbia, together comprising 69% of total imports. Croatia, France, Turkey, Hungary, Poland, Belgium and Canada lagged somewhat behind, together accounting for a further 25%.

In terms of the main suppliers, France, with a CAGR of +54.0%, 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 2022, the average jacks and hoists import price amounted to $X per unit, falling by -24.1% against the previous year. Overall, the import price continues to indicate a mild shrinkage. The most prominent rate of growth was recorded in 2020 when the average import price increased by 100% against the previous year. As a result, import price reached the peak level of $X per unit. From 2021 to 2022, the average import prices remained at a somewhat lower figure.

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 Germany ($X per unit), while the price for Belgium ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+33.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform