Lithuania: Market for Iron or Steel Gas Domestic Cooking Appliances and Plate Warmers 2024

Market Size for Iron or Steel Gas Domestic Cooking Appliances and Plate Warmers in Lithuania

The Lithuanian market for iron or steel gas domestic cooking appliances and plate warmers rose significantly to $X in 2022, picking up by 12% 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). Over the period under review, the total consumption indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +6.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +56.7% against 2020 indices. Over the period under review, the market attained the peak level in 2022 and is expected to retain growth in the near future.

Exports of Iron or Steel Gas Domestic Cooking Appliances and Plate Warmers

Exports from Lithuania

In 2022, approx. X units of iron or steel gas domestic cooking appliances and plate warmers were exported from Lithuania; which is down by -19.4% on the year before. Overall, exports showed a abrupt decline. The growth pace was the most rapid in 2017 with an increase of 91%. The exports peaked at X units in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, exports of iron or steel gas domestic cooking appliances and plate warmers contracted rapidly to $X in 2022. In general, exports showed a deep slump. The pace of growth appeared the most rapid in 2021 with an increase of 81% against the previous year. Over the period under review, the exports of attained the peak figure at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Estonia (X units), Latvia (X units) and the Netherlands (X units) were the main destinations of exports of iron or steel gas domestic cooking appliances and plate warmers from Lithuania, with a combined 52% share of total exports. Germany, Poland, Russia, Finland and Belarus lagged somewhat behind, together accounting for a further 38%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Finland (with a CAGR of +89.0%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for iron or steel gas domestic cooking appliances and plate warmers exported from Lithuania were Estonia ($X), the Netherlands ($X) and Germany ($X), together accounting for 56% of total exports. Latvia, Russia, Poland, Finland and Belarus lagged somewhat behind, together accounting for a further 31%.

Among the main countries of destination, Finland, with a CAGR of +80.3%, 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

The average export price for iron or steel gas domestic cooking appliances and plate warmers stood at $X per unit in 2022, shrinking by -11.4% against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of 53% against the previous year. The export price peaked at $X per unit in 2021, and then contracted in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Belarus ($X per unit), while the average price for exports to Poland ($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 Netherlands (+9.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Iron or Steel Gas Domestic Cooking Appliances and Plate Warmers

Imports into Lithuania

In 2022, overseas purchases of iron or steel gas domestic cooking appliances and plate warmers increased by 16% to X units, rising for the second year in a row after three years of decline. In general, total imports indicated noticeable growth from 2012 to 2022: its volume increased at an average annual rate of +2.9% 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 +64.1% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 42%. Imports peaked in 2022 and are likely to see gradual growth in the immediate term.

In value terms, imports of iron or steel gas domestic cooking appliances and plate warmers dropped significantly to $X in 2022. Overall, imports, however, continue to indicate a perceptible decline. The pace of growth was the most pronounced in 2021 with an increase of 56%. Over the period under review, imports of attained the maximum at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Turkey (X units) constituted the largest iron or steel gas domestic cooking appliances and plate warmers supplier to Lithuania, with a 50% share of total imports. Moreover, imports of iron or steel gas domestic cooking appliances and plate warmers from Turkey exceeded the figures recorded by the second-largest supplier, China (X units), twofold. Poland (X units) ranked third in terms of total imports with a 9.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Turkey amounted to +6.1%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+4.8% per year) and Poland (-9.4% per year).

In value terms, Poland ($X), Turkey ($X) and China ($X) constituted the largest iron or steel gas domestic cooking appliances and plate warmers suppliers to Lithuania, together accounting for 61% of total imports. Latvia, Italy, Germany and Vietnam lagged somewhat behind, together accounting for a further 21%.

Vietnam, with a CAGR of +307.2%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for iron or steel gas domestic cooking appliances and plate warmers stood at $X per unit in 2022, with a decrease of -27% against the previous year. Overall, the import price continues to indicate a abrupt curtailment. The growth pace was the most rapid in 2013 an increase of 36%. As a result, import price attained the peak level of $X per unit. From 2014 to 2022, the average import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Latvia (+6.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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