Serbia: Market for Spray Guns And Similar Appliances 2024

Market Size for Spray Guns And Similar Appliances in Serbia

In 2022, the Serbian market for spray guns and similar appliances increased by 36% to $X, rising for the second consecutive year after two years of decline. In general, consumption, however, enjoyed a prominent increase. Spray guns and similar appliances consumption peaked in 2022 and is likely to see steady growth in the near future.

Production of Spray Guns And Similar Appliances in Serbia

In value terms, spray guns and similar appliances production shrank slightly to $X in 2022 estimated in export price. Over the period under review, the total production indicated temperate growth from 2012 to 2022: its value 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. Based on 2022 figures, production increased by +3.6% against 2020 indices. The pace of growth was the most pronounced in 2016 with an increase of 75% against the previous year. As a result, production reached the peak level of $X. From 2017 to 2022, production growth remained at a somewhat lower figure.

Exports of Spray Guns And Similar Appliances

Exports from Serbia

In 2022, the amount of spray guns and similar appliances exported from Serbia expanded notably to X units, picking up by 10% compared with the year before. Overall, exports posted moderate growth. The pace of growth appeared the most rapid in 2016 with an increase of 351%. The exports peaked at X units in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, spray guns and similar appliances exports surged to $X in 2022. In general, exports saw resilient growth. The most prominent rate of growth was recorded in 2016 with an increase of 646%. The exports peaked in 2022 and are expected to retain growth in years to come.

Exports by Country

Russia (X units), Bosnia and Herzegovina (X units) and Turkey (X units) were the main destinations of spray guns and similar appliances exports from Serbia, with a combined 58% share of total exports. Montenegro, North Macedonia, Kyrgyzstan, Bulgaria and Croatia lagged somewhat behind, together accounting for a further 32%.

From 2012 to 2022, the biggest increases were recorded for Bulgaria (with a CAGR of +43.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Kyrgyzstan ($X), Russia ($X) and Turkey ($X) were the largest markets for spray guns and similar appliances exported from Serbia worldwide, with a combined 59% share of total exports.

In terms of the main countries of destination, Russia, with a CAGR of +65.6%, recorded the highest rates of growth with regard to 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

The average export price for spray guns and similar appliances stood at $X per unit in 2022, growing by 92% against the previous year. Over the period under review, the export price saw a buoyant expansion. The most prominent rate of growth was recorded in 2015 when the average export price increased by 105% against the previous year. The export price peaked in 2022 and is likely to see steady growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Kyrgyzstan ($X per unit), while the average price for exports to Bulgaria ($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 Russia (+19.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Spray Guns And Similar Appliances

Imports into Serbia

In 2022, supplies from abroad of spray guns and similar appliances decreased by -15.7% to X units for the first time since 2018, thus ending a three-year rising trend. Over the period under review, imports, however, enjoyed a strong increase. The pace of growth appeared the most rapid in 2021 when imports increased by 80% against the previous year. As a result, imports attained the peak of X units, and then contracted markedly in the following year.

In value terms, spray guns and similar appliances imports fell slightly to $X in 2022. Overall, imports, however, saw a remarkable increase. The growth pace was the most rapid in 2016 with an increase of 47%. Over the period under review, imports reached the peak figure at $X in 2021, and then reduced modestly in the following year.

Imports by Country

In 2022, China (X units) constituted the largest spray guns and similar appliances supplier to Serbia, with a 66% share of total imports. Moreover, spray guns and similar appliances imports from China exceeded the figures recorded by the second-largest supplier, Italy (X units), sevenfold. The United States (X units) ranked third in terms of total imports with a 6.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +15.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+9.1% per year) and the United States (+18.6% per year).

In value terms, China ($X), the United States ($X) and Germany ($X) were the largest spray guns and similar appliances suppliers to Serbia, together comprising 67% of total imports.

Among the main suppliers, the United States, with a CAGR of +16.6%, saw the highest rates of growth with regard to 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 import price for spray guns and similar appliances amounted to $X per unit, picking up by 13% against the previous year. Over the period under review, the import price, however, showed a slight setback. The growth pace was the most rapid in 2018 an increase of 35% against the previous year. Over the period under review, average import prices attained the peak figure at $X per unit in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Switzerland (+10.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform