Serbia: Pneumatic Elevator Market 2024

Pneumatic Elevator Market Size in Serbia

The Serbian pneumatic elevator market surged to $X in 2022, rising by 140% against the previous year. Overall, consumption enjoyed resilient growth. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Pneumatic Elevator Production in Serbia

In value terms, pneumatic elevator production declined sharply to $X in 2022 estimated in export price. Overall, production, however, recorded a resilient expansion. The most prominent rate of growth was recorded in 2021 when the production volume increased by 216% against the previous year. As a result, production reached the peak level of $X, and then dropped sharply in the following year.

Pneumatic Elevator Exports

Exports from Serbia

In 2022, after four years of decline, there was significant decline in shipments abroad of pneumatic elevators and conveyors, when their volume decreased by -42.9% to X units. In general, exports continue to indicate a drastic downturn. The most prominent rate of growth was recorded in 2014 with an increase of 31%. Over the period under review, the exports hit record highs at X units in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

In value terms, pneumatic elevator exports expanded notably to $X in 2022. Over the period under review, exports recorded a abrupt decline. The pace of growth appeared the most rapid in 2014 with an increase of 74%. Over the period under review, the exports hit record highs at $X in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Bulgaria (X units), Croatia (X units) and Slovenia (X units) were the main destinations of pneumatic elevator exports from Serbia, with a combined 58% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Bulgaria (with a CAGR of +11.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for pneumatic elevator exported from Serbia were Croatia ($X), Bulgaria ($X) and North Macedonia ($X), with a combined 85% share of total exports. Hungary, Poland, Bosnia and Herzegovina, Montenegro and Slovenia lagged somewhat behind, together accounting for a further 15%.

In terms of the main countries of destination, Hungary, with a CAGR of +32.0%, recorded the highest growth rate of the value of exports, 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 pneumatic elevator export price amounted to $X per unit, increasing by 85% against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. Over the period under review, the average export prices hit record highs at $X per unit in 2015; however, from 2016 to 2022, the export prices remained at a 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 ($X per unit), while the average price for exports to Slovenia ($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 Hungary (+32.0%), while the prices for the other major destinations experienced more modest paces of growth.

Pneumatic Elevator Imports

Imports into Serbia

In 2022, purchases abroad of pneumatic elevators and conveyors increased by 106% to X units, rising for the fourth year in a row after two years of decline. Overall, imports continue to indicate a significant increase. The pace of growth was the most pronounced in 2021 when imports increased by 116%. Imports peaked in 2022 and are likely to see gradual growth in the immediate term.

In value terms, pneumatic elevator imports soared to $X in 2022. In general, imports enjoyed significant growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Germany (X units) constituted the largest pneumatic elevator supplier to Serbia, with a 47% share of total imports. Moreover, pneumatic elevator imports from Germany exceeded the figures recorded by the second-largest supplier, Spain (X units), ninefold. The third position in this ranking was taken by China (X units), with a 1.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Germany stood at +52.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+5.8% per year) and China (+25.9% per year).

In value terms, Germany ($X) constituted the largest supplier of pneumatic elevators and conveyors to Serbia, comprising 86% of total imports. The second position in the ranking was taken by Italy ($X), with a 2.1% share of total imports. It was followed by China, with a 2.1% share.

From 2012 to 2022, the average annual growth rate of value from Germany totaled +49.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+4.3% per year) and China (+69.9% per year).

Import Prices by Country

In 2022, the average pneumatic elevator import price amounted to $X per unit, rising by 118% against the previous year. Overall, import price indicated pronounced growth from 2012 to 2022: its price increased at an average annual rate of +3.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, average import prices hit record highs at $X per unit in 2014; however, from 2015 to 2022, 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 ($X per unit), while the price for Spain ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Romania (+43.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform