Eastern Europe: Steel Spring Market 2024

Steel Spring Market Size in Eastern Europe

After three years of decline, the East European steel spring market increased by X% to $X in 2022. In general, consumption showed a relatively flat trend pattern. Over the period under review, the market attained the maximum level at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Steel Spring Production in Eastern Europe

In value terms, steel spring production rose to $X in 2022 estimated in export price. Overall, production, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of X%. As a result, production reached the peak level of $X. From 2018 to 2022, production growth remained at a lower figure.

Steel Spring Exports

Exports in Eastern Europe

In 2022, the amount of steel springs and leaves for springs exported in Eastern Europe fell to X tons, with a decrease of X% compared with the year before. Total exports indicated a moderate increase from 2012 to 2022: its volume increased at an average annual rate of X% 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 X% against 2020 indices. The growth pace was the most rapid in 2021 when exports increased by X%. As a result, the exports attained the peak of X tons, and then fell in the following year.

In value terms, steel spring exports dropped to $X in 2022. Total exports indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2020 indices. The growth pace was the most rapid in 2021 when exports increased by X% against the previous year. As a result, the exports reached the peak of $X, and then shrank in the following year.

Exports by Country

Poland (X tons) and the Czech Republic (X tons) represented the key exporters of steel springs and leaves for springs in 2022, resulting at near X% and X% of total exports, respectively. It was distantly followed by Hungary (X tons), Romania (X tons) and Russia (X tons), together mixing up a X% share of total exports. Slovakia (X tons), Bulgaria (X tons) and Belarus (X tons) held a minor share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Hungary (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Poland ($X), the Czech Republic ($X) and Hungary ($X) appeared to be the countries with the highest levels of exports in 2022, with a combined X% share of total exports.

Poland, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Eastern Europe stood at $X per ton in 2022, growing by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2018 an increase of X% against the previous year. Over the period under review, the export prices reached the maximum in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Slovakia ($X per ton), while Russia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Romania (X%), while the other leaders experienced more modest paces of growth.

Steel Spring Imports

Imports in Eastern Europe

In 2022, the amount of steel springs and leaves for springs imported in Eastern Europe shrank notably to X tons, dropping by X% against the previous year's figure. The total import volume increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2017 when imports increased by X%. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, steel spring imports shrank to $X in 2022. The total import value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of X%. As a result, imports reached the peak of $X, and then declined in the following year.

Imports by Country

In 2022, Poland (X tons) was the key importer of steel springs and leaves for springs, making up X% of total imports. The Czech Republic (X tons) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Hungary (X%), Russia (X%), Romania (X%) and Slovakia (X%). Belarus (X tons) followed a long way behind the leaders.

Poland was also the fastest-growing in terms of the steel springs and leaves for springs imports, with a CAGR of X% from 2012 to 2022. At the same time, Romania (X%), Belarus (X%) and Hungary (X%) displayed positive paces of growth. Slovakia experienced a relatively flat trend pattern. By contrast, the Czech Republic (X%) and Russia (X%) illustrated a downward trend over the same period. Poland (X p.p.) and Romania (X p.p.) significantly strengthened its position in terms of the total imports, while the Czech Republic and Russia saw its share reduced by X% and X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Poland ($X), the Czech Republic ($X) and Hungary ($X) constituted the countries with the highest levels of imports in 2022, together comprising X% of total imports. Romania, Slovakia, Russia and Belarus lagged somewhat behind, together accounting for a further X%.

Romania, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Eastern Europe amounted to $X per ton, with an increase of X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2021 when the import price increased by X% against the previous year. The level of import peaked in 2022 and is likely to see steady growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the Czech Republic ($X per ton), while Belarus ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Slovakia (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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