Serbia: Market for Lifts, Elevators, Moving Stairways and Draglines 2024

Market Size for Lifts, Elevators, Moving Stairways and Draglines in Serbia

The Serbian market for lifts, elevators, moving stairways and draglines skyrocketed to $X in 2022, increasing by 71% against the previous year. In general, consumption saw a strong increase. Lift, elevator, stairway and dragline consumption peaked in 2022 and is likely to continue growth in the immediate term.

Production of Lifts, Elevators, Moving Stairways and Draglines in Serbia

In value terms, lift, elevator, stairway and dragline production shrank remarkably to $X in 2022 estimated in export price. In general, production, however, enjoyed a significant increase. The most prominent rate of growth was recorded in 2015 when the production volume increased by 405% against the previous year. Over the period under review, production hit record highs at $X in 2021, and then shrank notably in the following year.

Exports of Lifts, Elevators, Moving Stairways and Draglines

Exports from Serbia

In 2022, exports of lifts, elevators, moving stairways and draglines from Serbia shrank to X units, which is down by -9% on 2021. Over the period under review, exports, however, posted strong growth. The pace of growth appeared the most rapid in 2014 with an increase of 104%. Over the period under review, the exports reached the peak figure at X units in 2021, and then fell in the following year.

In value terms, lift, elevator, stairway and dragline exports amounted to $X in 2022. Overall, total exports indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +7.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -0.1% against 2018 indices. The most prominent rate of growth was recorded in 2014 with an increase of 86%. Over the period under review, the exports attained the maximum at $X in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

Exports by Country

Russia (X units), Montenegro (X units) and Belarus (X units) were the main destinations of lift, elevator, stairway and dragline exports from Serbia, together comprising 68% of total exports.

From 2012 to 2022, the biggest increases were recorded for Belarus (with a CAGR of +65.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for lift, elevator, stairway and dragline exported from Serbia were Russia ($X), Montenegro ($X) and Belarus ($X), together comprising 69% of total exports.

Belarus, with a CAGR of +72.4%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination 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 export price for lifts, elevators, moving stairways and draglines amounted to $X per unit, surging by 20% against the previous year. Over the period under review, the export price, however, continues to indicate a mild descent. The export price peaked at $X per unit in 2016; however, from 2017 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major foreign markets. In 2022, amid the top suppliers, the highest price was recorded for prices to North Macedonia ($X per unit) and Ukraine ($X per unit), while the average price for exports to Croatia ($X per unit) and Slovenia ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Croatia (+9.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Lifts, Elevators, Moving Stairways and Draglines

Imports into Serbia

In 2022, approx. X units of lifts, elevators, moving stairways and draglines were imported into Serbia; growing by 68% on 2021 figures. Overall, imports continue to indicate a strong increase. The most prominent rate of growth was recorded in 2014 when imports increased by 115% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, lift, elevator, stairway and dragline imports soared to $X in 2022. Over the period under review, imports saw a buoyant expansion. The most prominent rate of growth was recorded in 2020 with an increase of 148%. As a result, imports attained the peak of $X. From 2021 to 2022, the growth of imports remained at a lower figure.

Imports by Country

Germany (X units), Spain (X units) and Slovakia (X units) were the main suppliers of lift, elevator, stairway and dragline imports to Serbia, together accounting for 58% of total imports. Italy, Turkey, China and Greece lagged somewhat behind, together accounting for a further 36%.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +60.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of lifts, elevators, moving stairways and draglines to Serbia, comprising 33% of total imports. The second position in the ranking was taken by Spain ($X), with a 15% share of total imports. It was followed by Italy, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Germany stood at +18.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+13.2% per year) and Italy (+2.1% per year).

Import Prices by Country

In 2022, the average import price for lifts, elevators, moving stairways and draglines amounted to $X per unit, dropping by -7.5% against the previous year. In general, the import price saw a slight setback. The most prominent rate of growth was recorded in 2020 when the average import price increased by 66%. Over the period under review, average import prices reached the maximum at $X per unit in 2016; however, from 2017 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+8.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform