Slovakia: Market for Vacuum Pumps and Air or Gas Compressors 2024

Market Size for Vacuum Pumps and Air or Gas Compressors in Slovakia

The Slovak market for vacuum pumps and air or gas compressors skyrocketed to $X in 2022, with an increase of 151% against the previous year. Overall, consumption showed prominent growth. Over the period under review, the market reached the maximum level in 2022 and is likely to continue growth in years to come.

Production of Vacuum Pumps and Air or Gas Compressors in Slovakia

In value terms, production of vacuum pumps and air or gas compressors stood at $X in 2022 estimated in export price. Overall, production continues to indicate a relatively flat trend pattern. As a result, production attained the peak level and is likely to continue growth in the immediate term.

Exports of Vacuum Pumps and Air or Gas Compressors

Exports from Slovakia

In 2022, exports of vacuum pumps and air or gas compressors from Slovakia shrank notably to X units, waning by -17% compared with the previous year's figure. In general, exports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 with an increase of 38% against the previous year. As a result, the exports reached the peak of X units. From 2015 to 2022, the growth of the exports of remained at a lower figure.

In value terms, exports of vacuum pumps and air or gas compressors reduced to $X in 2022. Overall, exports, however, posted strong growth. The most prominent rate of growth was recorded in 2021 with an increase of 26% against the previous year. As a result, the exports reached the peak of $X, and then shrank slightly in the following year.

Exports by Country

Italy (X units) was the main destination for exports of vacuum pumps and air or gas compressors from Slovakia, accounting for a 26% share of total exports. Moreover, exports of vacuum pumps and air or gas compressors to Italy exceeded the volume sent to the second major destination, Romania (X units), threefold. The UK (X units) ranked third in terms of total exports with a 7% share.

From 2012 to 2022, the average annual growth rate of volume to Italy stood at +3.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (+60.9% per year) and the UK (+42.5% per year).

In value terms, Italy ($X), Germany ($X) and the UK ($X) were the largest markets for vacuum pump and air or gas compressor exported from Slovakia worldwide, together accounting for 44% of total exports. Romania, Poland, Spain, Austria, the United States, Russia, Hungary, Turkey, China and Egypt lagged somewhat behind, together accounting for a further 46%.

Among the main countries of destination, Romania, with a CAGR of +74.2%, saw 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 export price for vacuum pumps and air or gas compressors amounted to $X per unit, increasing by 17% against the previous year. In general, the export price saw a strong increase. The growth pace was the most rapid in 2015 when the average export price increased by 41% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per unit), while the average price for exports to Egypt ($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 Poland (+24.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Vacuum Pumps and Air or Gas Compressors

Imports into Slovakia

In 2022, the amount of vacuum pumps and air or gas compressors imported into Slovakia skyrocketed to X units, surging by 21% on 2021 figures. Overall, total imports indicated resilient growth from 2012 to 2022: its volume increased at an average annual rate of +6.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +111.5% against 2013 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 39% against the previous year. Over the period under review, imports of hit record highs in 2022 and are expected to retain growth in the near future.

In value terms, imports of vacuum pumps and air or gas compressors rose slightly to $X in 2022. In general, imports enjoyed a buoyant increase. The most prominent rate of growth was recorded in 2021 when imports increased by 38% against the previous year. Over the period under review, imports of hit record highs in 2022 and are likely to see gradual growth in the near future.

Imports by Country

Germany (X units), South Korea (X units) and China (X units) were the main suppliers of imports of vacuum pumps and air or gas compressors to Slovakia, with a combined 77% share of total imports. Romania, Italy, Poland, France and Denmark lagged somewhat behind, together comprising a further 18%.

From 2012 to 2022, the biggest increases were recorded for Romania (with a CAGR of +111.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, South Korea ($X) constituted the largest supplier of vacuum pumps and air or gas compressors to Slovakia, comprising 53% of total imports. The second position in the ranking was taken by Germany ($X), with a 16% share of total imports. It was followed by Romania, with a 13% share.

From 2012 to 2022, the average annual growth rate of value from South Korea totaled +9.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+5.0% per year) and Romania (+94.7% per year).

Import Prices by Country

The average import price for vacuum pumps and air or gas compressors stood at $X per unit in 2022, waning by -14.3% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2017 an increase of 7.4% against the previous year. The import price peaked at $X per unit in 2020; however, from 2021 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 Denmark ($X per unit), while the price for Italy ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Denmark (+17.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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