Lithuania: Lock And Key Market 2024

Lock And Key Market Size in Lithuania

The Lithuanian lock and key market shrank sharply to $X in 2023, reducing by X% against the previous year. Over the period under review, the total consumption indicated pronounced growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption decreased by X% against 2021 indices. As a result, consumption reached the peak level of $X. From 2022 to 2023, the growth of the market remained at a somewhat lower figure.

Lock And Key Production in Lithuania

In value terms, lock and key production declined modestly to $X in 2023 estimated in export price. Over the period under review, production, however, saw a buoyant increase. The pace of growth was the most pronounced in 2018 when the production volume increased by X%. As a result, production reached the peak level of $X. From 2019 to 2023, production growth failed to regain momentum.

Lock And Key Exports

Exports from Lithuania

In 2023, overseas shipments of padlocks, locks and keys of base metal decreased by X% to X tons, falling for the second year in a row after three years of growth. The total export volume increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2013 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2021; however, from 2022 to 2023, the exports stood at a somewhat lower figure.

In value terms, lock and key exports shrank modestly to $X in 2023. Over the period under review, total exports indicated resilient growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2017 when exports increased by X% against the previous year. The exports peaked at $X in 2022, and then reduced slightly in the following year.

Exports by Country

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

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by France (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

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

From 2012 to 2023, the average annual rate of growth in terms 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

The average lock and key export price stood at $X per ton in 2023, picking up by X% against the previous year. In general, export price indicated temperate growth from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, lock and key export price increased by X% against 2020 indices. 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 2023 and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: 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 2023, 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

Lock and key imports into Lithuania shrank markedly to X tons in 2023, declining by X% compared with the year before. Overall, total imports indicated a notable increase from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports decreased by X% against 2019 indices. The pace of growth appeared the most rapid in 2019 when imports increased by X% against the previous year. As a result, imports attained the peak of X tons. From 2020 to 2023, the growth of imports remained at a lower figure.

In value terms, lock and key imports declined to $X in 2023. Over the period under review, total imports indicated a prominent expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports decreased by X% against 2021 indices. The pace of growth appeared the most rapid in 2021 when imports increased by X%. As a result, imports reached the peak of $X. From 2022 to 2023, the growth of imports remained at a lower figure.

Imports by Country

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

From 2012 to 2023, 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, Slovakia ($X), Poland ($X) and China ($X) constituted the largest lock and key suppliers to Lithuania, together accounting for X% of total imports. Germany, Italy, Austria, Spain, Latvia and Sweden 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, 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

In 2023, the average lock and key import price amounted to $X per ton, surging by X% against the previous year. Over the period from 2012 to 2023, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2020 an increase of X% against the previous year. Over the period under review, average import prices hit record highs in 2023 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2023, 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 2023, the most notable rate of growth in terms of prices was attained by Latvia (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform