Slovakia: Gear Box Market 2025

Gear Box Market Size in Slovakia

In 2022, the Slovak gear box market increased by 8.7% to $X, rising for the second consecutive year after two years of decline. In general, consumption continues to indicate a resilient increase. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market failed to regain momentum.

Gear Box Production in Slovakia

In value terms, gear box production fell to $X in 2022 estimated in export price. Overall, production, however, posted a strong increase. The pace of growth was the most pronounced in 2013 with an increase of 106%. Gear box production peaked at $X in 2016; however, from 2017 to 2022, production remained at a lower figure.

Gear Box Exports

Exports from Slovakia

After four years of growth, shipments abroad of gear boxes decreased by -12.5% to X units in 2022. Over the period under review, exports, however, continue to indicate buoyant growth. The pace of growth was the most pronounced in 2019 with an increase of 67%. Over the period under review, the exports reached the maximum at X units in 2021, and then declined in the following year.

In value terms, gear box exports fell significantly to $X in 2022. In general, exports, however, continue to indicate resilient growth. The pace of growth was the most pronounced in 2020 when exports increased by 77%. As a result, the exports attained the peak of $X. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Germany (X units) was the main destination for gear box exports from Slovakia, with a 67% share of total exports. Moreover, gear box exports to Germany exceeded the volume sent to the second major destination, Italy (X units), sixfold. The third position in this ranking was held by France (X units), with a 7.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Germany stood at +6.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+26.8% per year) and France (+3.7% per year).

In value terms, Germany ($X) remains the key foreign market for gear boxes exports from Slovakia, comprising 59% of total exports. The second position in the ranking was taken by Italy ($X), with a 15% share of total exports. It was followed by France, with a 9.3% share.

From 2012 to 2022, the average annual growth rate of value to Germany totaled +3.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+29.6% per year) and France (+8.9% per year).

Export Prices by Country

In 2022, the average gear box export price amounted to $X per unit, dropping by -16.9% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of 58%. The export price peaked at $X per unit in 2017; however, from 2018 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Czech Republic ($X per unit), while the average price for exports to Spain ($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 China (+15.8%), while the prices for the other major destinations experienced more modest paces of growth.

Gear Box Imports

Imports into Slovakia

In 2022, overseas purchases of gear boxes increased by 14% to X units, rising for the second consecutive year after two years of decline. The total import volume increased at an average annual rate of +3.2% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 when imports increased by 38%. Over the period under review, imports hit record highs at X units in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, gear box imports expanded sharply to $X in 2022. Overall, total imports indicated tangible growth from 2012 to 2022: its value increased at an average annual rate of +4.3% 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 +15.2% against 2020 indices. The most prominent rate of growth was recorded in 2018 with an increase of 46% against the previous year. As a result, imports attained the peak of $X. From 2019 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Germany (X units), South Korea (X units) and Hungary (X units) were the main suppliers of gear box imports to Slovakia, together comprising 77% of total imports.

From 2012 to 2022, the biggest increases were recorded for Hungary (with a CAGR of +64.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), South Korea ($X) and Hungary ($X) constituted the largest gear box suppliers to Slovakia, together accounting for 83% of total imports.

In terms of the main suppliers, Hungary, with a CAGR of +78.0%, recorded 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

The average gear box import price stood at $X per unit in 2022, which is down by -5.3% against the previous year. Overall, import price indicated modest growth from 2012 to 2022: its price increased at an average annual rate of +1.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2015 an increase of 30% against the previous year. The import price peaked at $X per unit in 2021, and then contracted in the following year.

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 Japan ($X per unit), while the price for Spain ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hungary (+8.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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