Slovakia: Cranks And Crankshafts Market 2024

Cranks And Crankshafts Market Size in Slovakia

The Slovak cranks and crankshafts market skyrocketed to $X in 2022, rising by 37% against the previous year. Over the period under review, consumption, however, showed a noticeable contraction. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Cranks And Crankshafts Production in Slovakia

In value terms, cranks and crankshafts production expanded to $X in 2022 estimated in export price. Overall, production enjoyed a buoyant increase. The most prominent rate of growth was recorded in 2018 when the production volume increased by 60%. As a result, production reached the peak level of $X. From 2019 to 2022, production growth failed to regain momentum.

Cranks And Crankshafts Exports

Exports from Slovakia

In 2022, overseas shipments of cranks and crankshafts decreased by -6.2% to X tons, falling for the fourth year in a row after seven years of growth. Overall, total exports indicated a modest increase from 2012 to 2022: its volume increased at an average annual rate of +1.2% 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 -34.5% against 2018 indices. The pace of growth was the most pronounced in 2014 when exports increased by 20% against the previous year. The exports peaked at X tons in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, cranks and crankshafts exports reduced to $X in 2022. Over the period under review, total exports indicated a pronounced increase from 2012 to 2022: its value increased at an average annual rate of +2.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +6.7% against 2020 indices. The growth pace was the most rapid in 2014 when exports increased by 23% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

Germany (X tons) was the main destination for cranks and crankshafts exports from Slovakia, accounting for a 76% share of total exports. Moreover, cranks and crankshafts exports to Germany exceeded the volume sent to the second major destination, Italy (X tons), tenfold. The third position in this ranking was taken by the Czech Republic (X tons), with a 4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Germany totaled +1.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+26.4% per year) and the Czech Republic (-10.8% per year).

In value terms, Germany ($X) remains the key foreign market for cranks and crankshafts exports from Slovakia, comprising 73% of total exports. The second position in the ranking was held by Italy ($X), with a 5.4% share of total exports. It was followed by the Czech Republic, with a 3.7% share.

From 2012 to 2022, the average annual growth rate of value to Germany stood at +2.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+26.5% per year) and the Czech Republic (-8.9% per year).

Export Prices by Country

The average cranks and crankshafts export price stood at $X per ton in 2022, rising by 5.3% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the average export price increased by 9%. Over the period under review, the average export prices hit record highs in 2022 and is likely to see steady growth in the near future.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Hungary ($X per ton), while the average price for exports to Austria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Hungary (+10.5%), while the prices for the other major destinations experienced more modest paces of growth.

Cranks And Crankshafts Imports

Imports into Slovakia

In 2022, overseas purchases of cranks and crankshafts increased by 23% to X tons, rising for the second year in a row after four years of decline. Over the period under review, imports, however, showed a deep downturn. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, cranks and crankshafts imports surged to $X in 2022. The total import value increased at an average annual rate of +1.4% over the period from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Germany (X tons), Spain (X tons) and South Korea (X tons) were the main suppliers of cranks and crankshafts imports to Slovakia, together comprising 76% of total imports. Austria, the Czech Republic, Hungary, Italy and India lagged somewhat behind, together comprising a further 19%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Czech Republic (with a CAGR of +12.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest cranks and crankshafts suppliers to Slovakia were Germany ($X), South Korea ($X) and Austria ($X), together accounting for 58% of total imports. Spain, Italy, the Czech Republic, Hungary and India lagged somewhat behind, together comprising a further 27%.

Spain, with a CAGR of +20.6%, recorded the highest growth rate of the value of imports, in terms of the main suppliers 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 cranks and crankshafts import price amounted to $X per ton, surging by 6.3% against the previous year. Over the period under review, the import price continues to indicate a buoyant increase. The pace of growth appeared the most rapid in 2013 an increase of 62% against the previous year. The import price peaked in 2022 and is likely to see gradual growth in years to come.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+16.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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