Slovakia: Machinery Electrical Parts Market 2024

Machinery Electrical Parts Market Size in Slovakia

The Slovak machinery electrical parts market dropped remarkably to $X in 2022, which is down by -26% against the previous year. Overall, the total consumption indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +5.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +36.7% against 2020 indices. Machinery electrical parts consumption peaked at $X in 2016; however, from 2017 to 2022, consumption failed to regain momentum.

Machinery Electrical Parts Production in Slovakia

In value terms, machinery electrical parts production dropped modestly to $X in 2022 estimated in export price. Overall, production recorded a abrupt decrease. The most prominent rate of growth was recorded in 2016 when the production volume increased by 144% against the previous year. As a result, production reached the peak level of $X. From 2017 to 2022, production growth failed to regain momentum.

Machinery Electrical Parts Exports

Exports from Slovakia

In 2022, exports of electrical parts of machinery or apparatus from Slovakia skyrocketed to X tons, with an increase of 88% compared with 2021. In general, exports posted a strong increase. The most prominent rate of growth was recorded in 2013 when exports increased by 134%. Over the period under review, the exports hit record highs at X tons in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, machinery electrical parts exports soared to $X in 2022. Overall, exports recorded a resilient expansion. The pace of growth was the most pronounced in 2019 when exports increased by 190% against the previous year. Over the period under review, the exports reached the maximum at $X in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Poland (X tons) was the main destination for machinery electrical parts exports from Slovakia, with a 53% share of total exports. Moreover, machinery electrical parts exports to Poland exceeded the volume sent to the second major destination, Germany (X tons), threefold. Finland (X tons) ranked third in terms of total exports with an 11% share.

From 2012 to 2022, the average annual growth rate of volume to Poland stood at +92.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+0.3% per year) and Finland (-3.7% per year).

In value terms, Austria ($X), Germany ($X) and Finland ($X) were the largest markets for machinery electrical parts exported from Slovakia worldwide, together comprising 75% of total exports.

In terms of the main countries of destination, Austria, with a CAGR of +64.7%, 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

The average machinery electrical parts export price stood at $X per ton in 2022, picking up by 14% against the previous year. Overall, the export price showed a tangible expansion. The most prominent rate of growth was recorded in 2019 when the average export price increased by 135%. Over the period under review, the average export prices attained the maximum at $X per ton in 2020; however, from 2021 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Austria ($X per ton), while the average price for exports to Poland ($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 Hong Kong SAR (+28.0%), while the prices for the other major destinations experienced more modest paces of growth.

Machinery Electrical Parts Imports

Imports into Slovakia

In 2022, machinery electrical parts imports into Slovakia declined rapidly to X tons, shrinking by -16.5% against 2021 figures. Overall, imports, however, saw a significant expansion. The pace of growth was the most pronounced in 2014 when imports increased by 145% against the previous year. Imports peaked at X tons in 2021, and then fell markedly in the following year.

In value terms, machinery electrical parts imports shrank to $X in 2022. Over the period under review, imports, however, recorded a significant expansion. The most prominent rate of growth was recorded in 2014 with an increase of 371%. Over the period under review, imports reached the peak figure at $X in 2021, and then contracted in the following year.

Imports by Country

Germany (X tons), Taiwan (Chinese) (X tons) and the Czech Republic (X tons) were the main suppliers of machinery electrical parts imports to Slovakia, together accounting for 72% of total imports. China, Poland, France and Hungary lagged somewhat behind, together accounting for a further 24%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Poland (with a CAGR of +107.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Taiwan (Chinese) ($X), China ($X) and Germany ($X) constituted the largest machinery electrical parts suppliers to Slovakia, with a combined 89% share of total imports. France, Poland, the Czech Republic and Hungary lagged somewhat behind, together accounting for a further 4.8%.

In terms of the main suppliers, Poland, with a CAGR of +105.6%, 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 machinery electrical parts import price amounted to $X per ton, growing by 4.2% against the previous year. Overall, the import price showed a relatively flat trend pattern. The growth pace was the most rapid in 2019 an increase of 96% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton 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 China ($X per ton), while the price for the Czech Republic ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+11.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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