Croatia: Radar Apparatus Market 2023

Radar Apparatus Market Size in Croatia

The Croatian radar apparatus market skyrocketed to $X in 2022, jumping by 33% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +3.3% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Radar Apparatus Exports

Exports from Croatia

After three years of decline, overseas shipments of radar apparatus, radio navigational aid apparatus and radio remote control apparatus increased by 9.6% to X units in 2022. Overall, total exports indicated a moderate expansion from 2012 to 2022: its volume increased at an average annual rate of +3.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2018 with an increase of 45%. As a result, the exports attained the peak of X units. From 2019 to 2022, the growth of the exports remained at a lower figure.

In value terms, radar apparatus exports dropped to $X in 2022. Over the period under review, exports posted a buoyant increase. The pace of growth appeared the most rapid in 2021 when exports increased by 63%. As a result, the exports reached the peak of $X, and then declined in the following year.

Exports by Country

Portugal (X units), Serbia (X units) and Bosnia and Herzegovina (X units) were the main destinations of radar apparatus exports from Croatia, with a combined 54% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Portugal (with a CAGR of +38,544.4%), while the other leaders experienced more modest paces of growth.

In value terms, Serbia ($X), Bosnia and Herzegovina ($X) and Germany ($X) appeared to be the largest markets for radar apparatus exported from Croatia worldwide, together comprising 52% of total exports. The Netherlands, the United States, Montenegro, North Macedonia, Slovenia, Hungary, the UK and Portugal lagged somewhat behind, together accounting for a further 24%.

In terms of the main countries of destination, the United States, with a CAGR of +100.0%, recorded 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 radar apparatus export price stood at $X per unit in 2022, dropping by -18.5% against the previous year. Overall, the export price, however, showed measured growth. The growth pace was the most rapid in 2021 an increase of 66% against the previous year. As a result, the export price reached the peak level of $X per unit, and then shrank markedly in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+20.0%), while the prices for the other major destinations experienced more modest paces of growth.

Radar Apparatus Imports

Imports into Croatia

In 2022, imports of radar apparatus, radio navigational aid apparatus and radio remote control apparatus into Croatia was estimated at X units, increasing by 12% against 2021 figures. The total import volume increased at an average annual rate of +1.3% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2019 with an increase of 27% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in years to come.

In value terms, radar apparatus imports soared to $X in 2022. In general, total imports indicated measured growth from 2012 to 2022: its value increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +59.8% against 2020 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

The Netherlands (X units), Finland (X units) and Italy (X units) were the main suppliers of radar apparatus imports to Croatia, together accounting for 52% of total imports.

From 2012 to 2022, the biggest increases were recorded for the Netherlands (with a CAGR of +65.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X), Finland ($X) and Germany ($X) were the largest radar apparatus suppliers to Croatia, together comprising 67% of total imports.

In terms of the main suppliers, the Netherlands, with a CAGR of +78.9%, recorded 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 radar apparatus import price stood at $X per unit in 2022, with an increase of 25% against the previous year. In general, import price indicated a measured increase from 2012 to 2022: its price increased at an average annual rate of +3.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, radar apparatus import price increased by +29.9% against 2020 indices. Over the period under review, average import prices reached the peak figure at $X per unit in 2018; however, from 2019 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the Netherlands ($X per unit), while the price for South Korea ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+8.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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