Lithuania: Lock And Key Market 2024

Lock And Key Market Size in Lithuania

After two years of growth, the Lithuanian lock and key market decreased by X% to $X in 2022. Overall, the total consumption indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2014 indices. Lock and key consumption peaked at $X in 2021, and then fell in the following year.

Lock And Key Production in Lithuania

In value terms, lock and key production reached $X in 2022 estimated in export price. Over the period under review, production saw buoyant growth. The pace of growth appeared the most rapid in 2014 with an increase of X%. Lock and key production peaked at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Join Us at HANNOVER MESSE 2024

Don’t miss your chance to connect with us directly. Schedule a personal meeting to dive deeper into how solutions.
Hall 002, Stand C10. 22 - 26 April 2024 | Hannover, Germany

Book Your Meeting

Lock And Key Exports

Exports from Lithuania

After three years of growth, shipments abroad of padlocks, locks and keys of base metal decreased by X% to X tons in 2022. In general, total exports indicated a strong expansion from 2012 to 2022: its volume increased at an average annual rate of X% 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 2013 when exports increased by X%. Over the period under review, the exports reached the maximum at X tons in 2021, and then contracted in the following year.

In value terms, lock and key exports reached $X in 2022. Overall, total exports indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2016 indices. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in the immediate term.

Exports by Country

Russia (X tons), Sweden (X tons) and Germany (X tons) were the main destinations of lock and key exports from Lithuania, together comprising X% of total exports. Latvia, Estonia, Poland, Belarus, Denmark, Uzbekistan, Italy, Romania, Kazakhstan and Finland lagged somewhat behind, together comprising a further X%.

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 X%), while the other leaders experienced more modest paces of growth.

In value terms, Russia ($X) remains the key foreign market for padlocks, locks and keys of base metal exports from Lithuania, comprising X% of total exports. The second position in the ranking was held by Germany ($X), with a X% share of total exports. It was followed by Sweden, with an X% share.

From 2012 to 2022, the average annual growth rate of value to Russia was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (X% per year) and Sweden (X% per year).

Export Prices by Country

In 2022, the average lock and key export price amounted to $X per ton, rising by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2017 an increase of X% against the previous year. Over the period under review, the average export prices reached the peak figure in 2022 and is likely to see gradual growth in years to come.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Kazakhstan ($X per ton), while the average price for exports to Italy ($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 Russia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Lock And Key Imports

Imports into Lithuania

In 2022, overseas purchases of padlocks, locks and keys of base metal decreased by X% to X tons for the first time since 2015, thus ending a six-year rising trend. Overall, total imports indicated a resilient increase from 2012 to 2022: its volume increased at an average annual rate of X% 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 X% against 2014 indices. The pace of growth appeared the most rapid in 2014 when imports increased by X%. Over the period under review, imports attained the peak figure at X tons in 2021, and then shrank in the following year.

In value terms, lock and key imports dropped to $X in 2022. In general, total imports indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2015 indices. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. As a result, imports reached the peak of $X, and then fell in the following year.

Imports by Country

China (X tons), Slovakia (X tons) and Poland (X tons) were the main suppliers of lock and key imports to Lithuania, together accounting for X% of total imports. Germany, Spain, Austria and Italy lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Spain (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Slovakia ($X) and Poland ($X) were the largest lock and key suppliers to Lithuania, with a combined X% share of total imports. Germany, Italy, Austria and Spain lagged somewhat behind, together accounting for a further X%.

Spain, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average lock and key import price amounted to $X per ton, leveling off at the previous year. Over the last decade, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2021 when the average import price increased by X% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in the immediate term.

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 Italy ($X per ton), while the price for China ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :