Serbia: Market for Motor Vehicle Chassis Fitted With Engines 2024

Market Size for Motor Vehicle Chassis Fitted With Engines in Serbia

In 2022, the Serbian market for motor vehicle chassis fitted with engines increased by 39% to $X, rising for the second consecutive year after three years of decline. Over the period under review, consumption continues to indicate a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2016 to 2022, the growth of the market remained at a lower figure.

Exports of Motor Vehicle Chassis Fitted With Engines

Exports from Serbia

In 2022, shipments abroad of motor vehicle chassis fitted with engines increased by 25% to X units for the first time since 2019, thus ending a two-year declining trend. Overall, exports enjoyed a prominent increase. The most prominent rate of growth was recorded in 2019 with an increase of 208%. As a result, the exports reached the peak of X units. From 2020 to 2022, the growth of the exports of failed to regain momentum.

In value terms, exports of motor vehicle chassis fitted with engines surged to $X in 2022. Over the period under review, exports posted a significant expansion. The growth pace was the most rapid in 2015 when exports increased by 2,014% against the previous year. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

Austria (X units) was the main destination for exports of motor vehicle chassis fitted with engines from Serbia, with a 47% share of total exports. Moreover, exports of motor vehicle chassis fitted with engines to Austria exceeded the volume sent to the second major destination, Italy (X units), twofold. The third position in this ranking was taken by Bosnia and Herzegovina (X units), with a 6.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Austria totaled +21.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+4.1% per year) and Bosnia and Herzegovina (0.0% per year).

In value terms, Austria ($X) emerged as the key foreign market for motor vehicle chassis fitted with engines exports from Serbia, comprising 45% of total exports. The second position in the ranking was held by Italy ($X), with a 9.8% share of total exports. It was followed by Bosnia and Herzegovina, with less than 0.1% share.

From 2012 to 2022, the average annual growth rate of value to Austria stood at +73.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+0.9% per year) and Bosnia and Herzegovina (+6.6% per year).

Export Prices by Country

The average export price for motor vehicle chassis fitted with engines stood at $X per unit in 2022, jumping by 42% against the previous year. Over the period under review, the export price enjoyed resilient growth. The pace of growth was the most pronounced in 2015 when the average export price increased by 1,108% against the previous year. The export price peaked at $X per unit in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Austria ($X per unit), while the average price for exports to Montenegro ($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 Austria (+42.7%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Motor Vehicle Chassis Fitted With Engines

Imports into Serbia

In 2022, approx. X units of motor vehicle chassis fitted with engines were imported into Serbia; with an increase of 32% against 2021 figures. Over the period under review, imports posted a modest increase. The growth pace was the most rapid in 2015 when imports increased by 374% against the previous year. As a result, imports attained the peak of X units. From 2016 to 2022, the growth of imports of remained at a somewhat lower figure.

In value terms, imports of motor vehicle chassis fitted with engines skyrocketed to $X in 2022. In general, imports posted slight growth. The pace of growth appeared the most rapid in 2015 when imports increased by 972%. As a result, imports attained the peak of $X. From 2016 to 2022, the growth of imports of remained at a lower figure.

Imports by Country

In 2022, Italy (X units) constituted the largest supplier of motor vehicle chassis fitted with engines to Serbia, accounting for a 85% share of total imports. Moreover, imports of motor vehicle chassis fitted with engines from Italy exceeded the figures recorded by the second-largest supplier, Romania (X units), more than tenfold. Slovenia (X units) ranked third in terms of total imports with a 1.6% share.

From 2012 to 2022, the average annual growth rate of volume from Italy totaled +25.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Romania (0.0% per year) and Slovenia (+7.2% per year).

In value terms, Italy ($X) constituted the largest supplier of motor vehicle chassis fitted with engines to Serbia, comprising 81% of total imports. The second position in the ranking was taken by Romania ($X), with an 11% share of total imports. It was followed by Germany, with a 2.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Italy stood at +18.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Romania (0.0% per year) and Germany (+5.1% per year).

Import Prices by Country

In 2022, the average import price for motor vehicle chassis fitted with engines amounted to $X per unit, rising by 10% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 an increase of 126% against the previous year. As a result, import price attained the peak level of $X per unit. From 2016 to 2022, the average import prices remained at a 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 ($X per unit), while the price for Bulgaria ($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 (+70.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform