Czech Republic: Steel Spring Market 2022

Steel Spring Market Size in the Czech Republic

For the third consecutive year, the Czech steel spring market recorded decline in sales value, which decreased by -8.8% to $X in 2021. Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. Over the period under review, the market attained the maximum level at $X in 2016; however, from 2017 to 2021, consumption stood at a somewhat lower figure.

Steel Spring Production in the Czech Republic

In value terms, steel spring production dropped to $X in 2021 estimated in export price. Over the period under review, production recorded a prominent increase. The pace of growth appeared the most rapid in 2013 with an increase of 191%. Over the period under review, production hit record highs at $X in 2017; however, from 2018 to 2021, production stood at a somewhat lower figure.

Steel Spring Exports

Exports from the Czech Republic

After three years of decline, overseas shipments of steel springs and leaves for springs increased by 16% to X tons in 2021. The total export volume increased at an average annual rate of +3.0% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The exports peaked at X tons in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

In value terms, steel spring exports skyrocketed to $X in 2021. The total export value increased at an average annual rate of +4.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

Germany (X tons), Slovakia (X tons) and Poland (X tons) were the main destinations of steel spring exports from the Czech Republic, with a combined 54% share of total exports. These countries were followed by the Netherlands, the UK, Russia, France and Romania, which together accounted for a further 32%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the UK (with a CAGR of +17.6%), while the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) remains the key foreign market for steel spring exports from the Czech Republic, comprising 32% of total exports. The second position in the ranking was held by Slovakia ($X), with a 14% share of total exports. It was followed by Poland, with a 9.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Germany was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Slovakia (+9.1% per year) and Poland (+7.6% per year).

Export Prices by Country

The average steel spring export price stood at $X per ton in 2021, with an increase of 6.6% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.1%. The most prominent rate of growth was recorded in 2018 an increase of 12%. The export price peaked in 2021 and is likely to continue growth in the near future.

Prices varied noticeably country of destination: the country with the highest price was Germany ($X per ton), while the average price for exports to the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Romania (+3.5%), while the prices for the other major destinations experienced more modest paces of growth.

Steel Spring Imports

Imports into the Czech Republic

In 2021, supplies from abroad of steel springs and leaves for springs was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. In general, imports, however, saw a slight decrease. The growth pace was the most rapid in 2017 with an increase of 13% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, steel spring imports soared to $X in 2021. The total import value increased at an average annual rate of +2.1% over the period from 2012 to 2021; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Germany (X tons) constituted the largest supplier of steel spring to the Czech Republic, accounting for a 48% share of total imports. Moreover, steel spring imports from Germany exceeded the figures recorded by the second-largest supplier, Poland (X tons), threefold. Hungary (X tons) ranked third in terms of total imports with a 5.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Germany totaled -4.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+1.4% per year) and Hungary (+18.3% per year).

In value terms, Germany ($X) constituted the largest supplier of steel spring to the Czech Republic, comprising 54% of total imports. The second position in the ranking was held by Poland ($X), with a 12% share of total imports. It was followed by Slovakia, with a 3.3% share.

From 2012 to 2021, the average annual growth rate of value from Germany was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+9.4% per year) and Slovakia (+6.1% per year).

Import Prices by Country

In 2021, the average steel spring import price amounted to $X per ton, with an increase of 16% against the previous year. Over the last nine-year period, it increased at an average annual rate of +3.4%. The growth pace was the most rapid in 2013 an increase of 19%. Over the period under review, average import prices attained the maximum in 2021 and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Italy ($X per ton), while the price for Bulgaria ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Poland (+7.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

Frequently Asked Questions (FAQ) :