Russian Federation: Steel Spring Market 2024

Steel Spring Market Size in the Russian Federation

The Russian steel spring market declined to $X in 2022, shrinking by X% against the previous year. Over the period under review, consumption showed a mild downturn. As a result, consumption attained the peak level of $X. From 2018 to 2022, the growth of the market failed to regain momentum.

Steel Spring Production in the Russian Federation

In value terms, steel spring production dropped to $X in 2022 estimated in export price. Overall, production showed a slight reduction. The pace of growth appeared the most rapid in 2017 with an increase of X%. As a result, production attained the peak level of $X. From 2018 to 2022, production growth remained at a lower figure.

Steel Spring Exports

Exports from the Russian Federation

In 2022, shipments abroad of steel springs and leaves for springs decreased by X% to X tons, falling for the second year in a row after five years of growth. Over the period under review, exports showed a deep reduction. The pace of growth was the most pronounced in 2016 when exports increased by X% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, steel spring exports declined notably to $X in 2022. Overall, exports saw a abrupt slump. The growth pace was the most rapid in 2017 with an increase of X%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Kazakhstan (X tons), Germany (X tons) and Uzbekistan (X tons) were the main destinations of steel spring exports from Russia, with a combined X% share of total exports. The Czech Republic, Turkey, Slovakia and Ukraine lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the biggest increases were recorded for Slovakia (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for steel spring exported from Russia were Kazakhstan ($X), Germany ($X) and Uzbekistan ($X), with a combined X% share of total exports. Turkey, the Czech Republic, Slovakia and Ukraine lagged somewhat behind, together comprising a further X%.

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

Export Prices by Country

The average steel spring export price stood at $X per ton in 2022, surging by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The growth pace was the most rapid in 2017 an increase of X% against the previous year. Over the period under review, the average export prices attained the maximum in 2022 and is likely to see steady growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Turkey ($X per ton), while the average price for exports to Ukraine ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Uzbekistan (X%), while the prices for the other major destinations experienced more modest paces of growth.

Steel Spring Imports

Imports into the Russian Federation

In 2022, steel spring imports into Russia shrank rapidly to X tons, reducing by X% against 2021. Over the period under review, imports continue to indicate a noticeable curtailment. The pace of growth was the most pronounced in 2016 with an increase of X% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, steel spring imports dropped sharply to $X in 2022. Overall, imports recorded a pronounced descent. The pace of growth appeared the most rapid in 2016 when imports increased by X% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest steel spring supplier to Russia, with a X% share of total imports. Moreover, steel spring imports from China exceeded the figures recorded by the second-largest supplier, Turkey (X tons), threefold. Germany (X tons) ranked third in terms of total imports with an X% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (X% per year) and Germany (X% per year).

In value terms, the largest steel spring suppliers to Russia were China ($X), Germany ($X) and Turkey ($X), with a combined X% share of total imports. Japan, Belgium, the Czech Republic, Poland, Lithuania, India, France, Malaysia and Ukraine lagged somewhat behind, together comprising a further X%.

Among the main suppliers, India, with a CAGR of X%, saw 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 steel spring import price stood at $X per ton in 2022, with a decrease of X% against the previous year. Overall, the import price showed a slight decrease. The pace of growth was the most pronounced in 2016 when the average import price increased by X% against the previous year. As a result, import price reached the peak level of $X per ton. From 2017 to 2022, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Ukraine ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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