Serbia: Engine Generator Market 2024

Engine Generator Market Size in Serbia

For the sixth year in a row, the Serbian engine generator market recorded growth in sales value, which increased by X% to $X in 2022. Overall, consumption recorded a resilient increase. Engine generator consumption peaked in 2022 and is likely to see gradual growth in the near future.

Engine Generator Exports

Exports from Serbia

In 2022, overseas shipments of generators for internal combustion engines increased by X% to X units for the first time since 2016, thus ending a five-year declining trend. In general, exports posted a prominent expansion. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. Over the period under review, the exports reached the maximum at X units in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, engine generator exports soared to $X in 2022. Over the period under review, exports recorded strong growth. The growth pace was the most rapid in 2014 with an increase of X% against the previous year. The exports peaked at $X in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

Exports by Country

Russia (X units), Italy (X units) and Montenegro (X units) were the main destinations of engine generator exports from Serbia, with a combined X% 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 Italy (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for engine generator exported from Serbia were Russia ($X), Italy ($X) and Montenegro ($X), with a combined X% share of total exports.

Among the main countries of destination, Italy, with a CAGR of X%, saw 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 engine generator export price stood at $X per unit in 2022, dropping by X% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 an increase of X% against the previous year. The export price peaked at $X per unit in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the highest price was recorded for prices to France ($X per unit) and Lithuania ($X per unit), while the average price for exports to Hungary ($X per unit) and Bulgaria ($X per unit) were amongst the lowest.

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

Engine Generator Imports

Imports into Serbia

In 2022, approx. X units of generators for internal combustion engines were imported into Serbia; rising by X% compared with the previous year. Overall, imports enjoyed a resilient increase. The pace of growth was the most pronounced in 2015 with an increase of X%. Imports peaked in 2022 and are expected to retain growth in years to come.

In value terms, engine generator imports soared to $X in 2022. Over the period under review, imports recorded a resilient expansion. The pace of growth appeared the most rapid in 2015 with an increase of X%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, the Netherlands (X units) constituted the largest supplier of engine generator to Serbia, accounting for a X% share of total imports. Moreover, engine generator imports from the Netherlands exceeded the figures recorded by the second-largest supplier, China (X units), threefold. The third position in this ranking was held by Poland (X units), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the Netherlands stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and Poland (X% per year).

In value terms, the Netherlands ($X) constituted the largest supplier of generators for internal combustion engines to Serbia, comprising X% of total imports. The second position in the ranking was held by China ($X), with an X% share of total imports. It was followed by Poland, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the Netherlands totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and Poland (X% per year).

Import Prices by Country

The average engine generator import price stood at $X per unit in 2022, declining by X% against the previous year. Overall, import price indicated mild growth from 2012 to 2022: its price 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, engine generator import price decreased by X% against 2019 indices. The growth pace was the most rapid in 2019 an increase of X% against the previous year. As a result, import price reached the peak level of $X per unit. From 2020 to 2022, the average import prices remained at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from the Czech Republic ($X per unit) and France ($X per unit), while the price for Slovenia ($X per unit) and Germany ($X per unit) were amongst the lowest.

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

Source: IndexBox Platform

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