Eastern Europe: Steel Spring Market 2024

Steel Spring Market Size in Eastern Europe

The East European steel spring market expanded remarkably to $X in 2023, increasing by X% against the previous year. The market value increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. As a result, consumption attained the peak level of $X. From 2022 to 2023, the growth of the market failed to regain momentum.

Steel Spring Production in Eastern Europe

In value terms, steel spring production expanded sharply to $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of X%. As a result, production attained the peak level of $X. From 2022 to 2023, production growth failed to regain momentum.

Steel Spring Exports

Exports in Eastern Europe

In 2023, approx. X tons of steel springs and leaves for springs were exported in Eastern Europe; growing by X% on 2022 figures. Total exports indicated a moderate increase from 2012 to 2023: its volume 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, exports decreased by X% against 2021 indices. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. As a result, the exports reached the peak of X tons. From 2022 to 2023, the growth of the exports failed to regain momentum.

In value terms, steel spring exports totaled $X in 2023. Total exports indicated a buoyant increase 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, exports increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2021 when exports increased by X% against the previous year. The level of export peaked in 2023 and is expected to retain growth in the near future.

Exports by Country

Poland (X tons) and the Czech Republic (X tons) represented the largest exporters of steel springs and leaves for springs in 2023, resulting at near X% and X% of total exports, respectively. Romania (X tons) took the next position in the ranking, followed by Hungary (X tons) and Russia (X tons). All these countries together took approx. X% share of total exports. The following exporters - Slovakia (X tons) and Bulgaria (X tons) - each finished at a X% share of total exports.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Poland (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest steel spring supplying countries in Eastern Europe were the Czech Republic ($X), Poland ($X) and Romania ($X), with a combined X% share of total exports.

Poland, with a CAGR of X%, saw the highest growth rate of 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

In 2023, the export price in Eastern Europe amounted to $X per ton, picking up by X% against the previous year. Over the last eleven years, it increased at an average annual rate of X%. The growth pace was the most rapid in 2018 an increase of X%. The level of export peaked in 2023 and is expected to retain growth in years to come.

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 2023, 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 2023, imports of steel springs and leaves for springs in Eastern Europe rose remarkably to X tons, growing by X% compared with 2022. The total import volume increased at an average annual rate of X% over the period from 2012 to 2023; 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% against the previous year. The volume of import peaked at X tons in 2018; however, from 2019 to 2023, imports stood at a somewhat lower figure.

In value terms, steel spring imports surged to $X in 2023. The total import value increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 with an increase of X%. Over the period under review, imports attained the maximum in 2023 and are expected to retain growth in the near future.

Imports by Country

Poland represented the key importer of steel springs and leaves for springs in Eastern Europe, with the volume of imports finishing at X tons, which was approx. X% of total imports in 2023. It was distantly followed by the Czech Republic (X tons), Russia (X tons), Hungary (X tons), Slovakia (X tons) and Romania (X tons), together achieving a X% share of total imports. 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 2023. At the same time, Slovakia (X%) and Romania (X%) displayed positive paces of growth. Hungary and the Czech Republic experienced a relatively flat trend pattern. By contrast, Belarus (X%) and Russia (X%) illustrated a downward trend over the same period. Poland (X p.p.), Slovakia (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 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest steel spring importing markets in Eastern Europe were Poland ($X), the Czech Republic ($X) and Hungary ($X), with a combined X% share of total imports. Romania, Slovakia, Russia and Belarus lagged somewhat behind, together comprising a further X%.

Slovakia, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, among 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

The import price in Eastern Europe stood at $X per ton in 2023, growing by X% against the previous year. Over the last eleven-year period, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2021 when the import price increased by X% against the previous year. The level of import peaked in 2023 and is likely to see gradual growth in the immediate term.

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

From 2012 to 2023, 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