EU: Accumulator Market 2023

Accumulator Market Size in the EU

For the sixth year in a row, the EU accumulator market recorded growth in sales value, which increased by 32% to $X in 2021. In general, consumption enjoyed a resilient increase. Over the period under review, the market attained the maximum level in 2021 and is likely to continue growth in years to come.

Accumulator Production in the EU

In value terms, accumulator production contracted to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.7% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 when the production volume increased by 23%. As a result, production attained the peak level of $X, and then declined in the following year.

Accumulator Exports

Exports in the EU

In 2021, approx. X units of electric accumulators were exported in the European Union; surging by 98% on 2020. In general, exports enjoyed significant growth. The pace of growth was the most pronounced in 2020 when exports increased by 147%. The volume of export peaked in 2021 and is likely to see gradual growth in the near future.

In value terms, accumulator exports surged to $X in 2021. Over the period under review, exports continue to indicate a strong increase. The pace of growth was the most pronounced in 2020 with an increase of 48%. The level of export peaked in 2021 and is expected to retain growth in years to come.

Exports by Country

Poland represented the key exporter of electric accumulators in the European Union, with the volume of exports reaching X units, which was approx. 44% of total exports in 2021. Germany (X units) took a 25% share (based on physical terms) of total exports, which put it in second place, followed by Hungary (5.6%), the Netherlands (5.5%) and the Czech Republic (4.6%). France (X units) and Spain (X units) took a relatively small share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Poland (with a CAGR of +67.9%), while the other leaders experienced more modest paces of growth.

In value terms, the largest accumulator supplying countries in the European Union were Poland ($X), Germany ($X) and Hungary ($X), together accounting for 67% of total exports.

Among the main exporting countries, Hungary, with a CAGR of +54.3%, recorded the highest growth rate of 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

In 2021, the export price in the European Union amounted to $X per unit, reducing by -25.9% against the previous year. Overall, the export price saw a abrupt contraction. The most prominent rate of growth was recorded in 2017 an increase of 13%. The level of export peaked at $X per unit in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was Hungary ($X per unit), while Poland ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hungary (+20.0%), while the other leaders experienced a decline in the export price figures.

Accumulator Imports

Imports in the EU

In 2021, imports of electric accumulators in the European Union surged to X units, jumping by 52% compared with 2020. Overall, imports enjoyed a significant expansion. The most prominent rate of growth was recorded in 2020 when imports increased by 141%. The volume of import peaked in 2021 and is expected to retain growth in the near future.

In value terms, accumulator imports soared to $X in 2021. In general, imports saw a buoyant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Germany represented the largest importing country with an import of about X units, which finished at 37% of total imports. The Czech Republic (X units) held a 10% share (based on physical terms) of total imports, which put it in second place, followed by Spain (7.1%), France (6.8%), Poland (5.8%), Italy (5.4%), Slovakia (5.2%) and the Netherlands (4.7%). Belgium (X units) took a little share of total imports.

Imports into Germany increased at an average annual rate of +26.3% from 2012 to 2021. At the same time, Slovakia (+55.9%), the Czech Republic (+42.2%), France (+27.0%), Poland (+25.1%), Spain (+24.3%), Italy (+23.5%), the Netherlands (+20.0%) and Belgium (+18.6%) displayed positive paces of growth. Moreover, Slovakia emerged as the fastest-growing importer imported in the European Union, with a CAGR of +55.9% from 2012-2021. The Czech Republic (+6.8 p.p.) and Slovakia (+4.4 p.p.) significantly strengthened its position in terms of the total imports, while the Netherlands and Belgium saw its share reduced by -2.6% and -3.1% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Germany ($X) constitutes the largest market for imported electric accumulators in the European Union, comprising 35% of total imports. The second position in the ranking was held by France ($X), with an 8.3% share of total imports. It was followed by the Czech Republic, with a 7% share.

From 2012 to 2021, the average annual growth rate of value in Germany amounted to +22.0%. The remaining importing countries recorded the following average annual rates of imports growth: France (+11.5% per year) and the Czech Republic (+25.1% per year).

Import Prices by Country

In 2021, the import price in the European Union amounted to $X per unit, which is down by -5% against the previous year. Over the period under review, the import price recorded a abrupt setback. The most prominent rate of growth was recorded in 2017 an increase of 14% against the previous year. The level of import peaked at $X per unit in 2018; however, from 2019 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was the Netherlands ($X per unit), while the Czech Republic ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Poland (-2.1%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Market Intelligence Platform

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