Central Asia: Steel Spring Market 2024

Steel Spring Market Size in Central Asia

The Central Asian steel spring market soared to $X in 2023, rising by X% against the previous year. The total consumption indicated a resilient expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption increased by X% against 2020 indices. Over the period under review, the market reached the maximum level in 2023 and is likely to see steady growth in years to come.

Steel Spring Production in Central Asia

In value terms, steel spring production expanded notably to $X in 2023 estimated in export price. The total production indicated a moderate increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production decreased by X% against 2021 indices. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2022 to 2023, production growth failed to regain momentum.

Steel Spring Exports

Exports in Central Asia

Steel spring exports soared to X tons in 2023, picking up by X% on the year before. Over the period under review, exports recorded a resilient increase. The most prominent rate of growth was recorded in 2017 when exports increased by X% against the previous year. The volume of export peaked in 2023 and is expected to retain growth in years to come.

In value terms, steel spring exports soared to $X in 2023. Overall, exports enjoyed a significant expansion. The growth pace was the most rapid in 2022 when exports increased by X%. The level of export peaked in 2023 and is likely to continue growth in years to come.

Exports by Country

In 2023, Kazakhstan (X tons) was the main exporter of steel springs and leaves for springs, making up X% of total exports. Uzbekistan (X tons) held a X% share (based on physical terms) of total exports, which put it in second place, followed by Kyrgyzstan (X%).

Exports from Kazakhstan increased at an average annual rate of X% from 2012 to 2023. At the same time, Uzbekistan (X%) displayed positive paces of growth. Moreover, Uzbekistan emerged as the fastest-growing exporter exported in Central Asia, with a CAGR of X% from 2012-2023. By contrast, Kyrgyzstan (X%) illustrated a downward trend over the same period. Uzbekistan (X p.p.) and Kazakhstan (X p.p.) significantly strengthened its position in terms of the total exports, while Kyrgyzstan saw its share reduced by X% from 2012 to 2023, respectively.

In value terms, Kazakhstan ($X) remains the largest steel spring supplier in Central Asia, comprising X% of total exports. The second position in the ranking was held by Uzbekistan ($X), with an X% share of total exports.

In Kazakhstan, steel spring exports increased at an average annual rate of X% over the period from 2012-2023. The remaining exporting countries recorded the following average annual rates of exports growth: Uzbekistan (X% per year) and Kyrgyzstan (X% per year).

Export Prices by Country

The export price in Central Asia stood at $X per ton in 2023, increasing by X% against the previous year. In general, the export price posted a significant increase. The most prominent rate of growth was recorded in 2015 an increase of X% against the previous year. The level of export peaked in 2023 and is likely to continue growth in the near future.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Kazakhstan ($X per ton), while Kyrgyzstan ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Kazakhstan (X%), while the other leaders experienced mixed trends in the export price figures.

Steel Spring Imports

Imports in Central Asia

In 2023, purchases abroad of steel springs and leaves for springs increased by X% to X tons, rising for the second year in a row after two years of decline. Over the period under review, imports posted a prominent expansion. The most prominent rate of growth was recorded in 2017 when imports increased by X%. The volume of import peaked in 2023 and is expected to retain growth in years to come.

In value terms, steel spring imports skyrocketed to $X in 2023. In general, imports recorded prominent growth. The pace of growth appeared the most rapid in 2017 with an increase of X% against the previous year. The level of import peaked in 2023 and is likely to continue growth in years to come.

Imports by Country

Uzbekistan (X tons) and Kazakhstan (X tons) dominates imports structure, together constituting X% of total imports. It was distantly followed by Kyrgyzstan (X tons), creating a X% share of total imports. The following importers - Mongolia (X tons) and Tajikistan (X tons) - each reached a X% share of total imports.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Uzbekistan (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest steel spring importing markets in Central Asia were Uzbekistan ($X), Kazakhstan ($X) and Tajikistan ($X), together comprising X% of total imports.

Uzbekistan, with a CAGR of X%, recorded the highest growth rate of 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 2023, the import price in Central Asia amounted to $X per ton, picking up by X% against the previous year. Import price indicated a modest expansion from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, steel spring import price decreased by X% against 2021 indices. The pace of growth appeared the most rapid in 2021 an increase of X%. As a result, import price reached the peak level of $X per ton. From 2022 to 2023, the import prices failed to regain momentum.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Uzbekistan (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform