Slovakia: Working Wire Machine Market 2024

Working Wire Machine Market Size in Slovakia

For the third consecutive year, the Slovak working wire machine market recorded decline in sales value, which decreased by -0.4% to $X in 2021. In general, consumption recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 2.3% against the previous year. As a result, consumption attained the peak level of $X. From 2019 to 2021, the growth of the market remained at a somewhat lower figure.

Working Wire Machine Production in Slovakia

In value terms, working wire machine production fell to $X in 2021 estimated in export price. Overall, production, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the production volume increased by 1.2%. As a result, production attained the peak level of $X. From 2019 to 2021, production growth failed to regain momentum.

Working Wire Machine Exports

Exports from Slovakia

Working wire machine exports from Slovakia soared to X units in 2021, increasing by 200% on 2020. Over the period under review, exports showed strong growth. The growth pace was the most rapid in 2013 with an increase of 4,650%. The exports peaked at X units in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

In value terms, working wire machine exports shrank dramatically to $X in 2021. Overall, exports enjoyed buoyant growth. The most prominent rate of growth was recorded in 2013 with an increase of 6,363%. Over the period under review, the exports attained the maximum at $X in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

Exports by Country

Germany (X units) and Hungary (X units) were the main destinations of working wire machine exports from Slovakia. Moreover, working wire machine exports in Germany exceeded the figures recorded by the second-largest exporter, Hungary, twofold.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Germany (with a CAGR of +21.9%).

From 2012 to 2021, the average annual rate of growth in terms of value to Germany totaled +22.2%.

Export Prices by Country

In 2021, the average working wire machine export price amounted to $X per unit, which is down by -75.4% against the previous year. Over the period under review, the export price saw a abrupt shrinkage. The most prominent rate of growth was recorded in 2015 an increase of 82%. The export price peaked at $X per unit in 2020, and then declined sharply in the following year.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Germany ($X per unit), while the average price for exports to Hungary totaled $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the Czech Republic (+4.6%).

Working Wire Machine Imports

Imports into Slovakia

In 2021, imports of machines for working wire into Slovakia surged to X units, growing by 37% compared with the year before. Over the period under review, imports saw notable growth. The growth pace was the most rapid in 2019 when imports increased by 186% against the previous year. As a result, imports reached the peak of X units. From 2020 to 2021, the growth of imports failed to regain momentum.

In value terms, working wire machine imports soared to $X in 2021. In general, imports, however, continue to indicate a noticeable descent. The most prominent rate of growth was recorded in 2016 with an increase of 158%. Over the period under review, imports reached the peak figure at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X units) constituted the largest supplier of working wire machine to Slovakia, with a 44% share of total imports. Moreover, working wire machine imports from China exceeded the figures recorded by the second-largest supplier, Hungary (X units), threefold. Germany (X units) ranked third in terms of total imports with a 17% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to +20.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Hungary (+32.3% per year) and Germany (-15.5% per year).

In value terms, Germany ($X) constituted the largest supplier of machines for working wire to Slovakia, comprising 62% of total imports. The second position in the ranking was taken by China ($X), with a 20% share of total imports. It was followed by the United States, with a 7.4% share.

From 2012 to 2021, the average annual growth rate of value from Germany stood at -10.4%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+15.4% per year) and the United States (-12.5% per year).

Import Prices by Country

In 2021, the average working wire machine import price amounted to $X per unit, jumping by 20% against the previous year. Over the period under review, the import price, however, saw a deep setback. The most prominent rate of growth was recorded in 2018 when the average import price increased by 53% against the previous year. The import price peaked at $X per unit in 2012; however, from 2013 to 2021, 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 Germany ($X per unit), while the price for Austria ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hungary (+91.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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