Battery Market Overview in Estonia
Market Overview
The Estonian battery market dropped slightly to $
in 2019, shrinking by -% 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). The market value increased at an average annual rate of +% over the period from 2007 to 2019; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2018 with an increase of % year-to-year. Over the period under review, the market hit record highs at $ in 2012; however, from 2013 to 2019, consumption remained at a lower figure.
In value terms, battery production surged to $ in 2019 estimated in export prices. Over the period under review, production posted buoyant growth. The growth pace was the most rapid in 2009 when the production volume increased by % y-o-y. Over the period under review, production attained the maximum level in 2019 and is expected to retain growth in years to come.
in 2019, shrinking by -% 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). The market value increased at an average annual rate of +% over the period from 2007 to 2019; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2018 with an increase of % year-to-year. Over the period under review, the market hit record highs at $ in 2012; however, from 2013 to 2019, consumption remained at a lower figure.In value terms, battery production surged to $
in 2019 estimated in export prices. Over the period under review, production posted buoyant growth. The growth pace was the most rapid in 2009 when the production volume increased by % y-o-y. Over the period under review, production attained the maximum level in 2019 and is expected to retain growth in years to come.Consumption
In 2019, battery consumption in Estonia contracted to units, approximately mirroring the year before. In general, consumption continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the consumption volume increased by % year-to-year. Battery consumption peaked at units in 2008; however, from 2009 to 2019, consumption stood at a somewhat lower figure.
The revenue of the battery market in Estonia shrank to $ in 2019, waning by -% 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). The market value increased at an average annual rate of +% from 2007 to 2019; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2018 when the market value increased by % year-to-year. Over the period under review, the market reached the peak level at $ in 2012; however, from 2013 to 2019, consumption stood at a somewhat lower figure.
units, approximately mirroring the year before. In general, consumption continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the consumption volume increased by % year-to-year. Battery consumption peaked at units in 2008; however, from 2009 to 2019, consumption stood at a somewhat lower figure.The revenue of the battery market in Estonia shrank to $
in 2019, waning by -% 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). The market value increased at an average annual rate of +% from 2007 to 2019; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2018 when the market value increased by % year-to-year. Over the period under review, the market reached the peak level at $ in 2012; however, from 2013 to 2019, consumption stood at a somewhat lower figure.Market Forecast
Depressed by shrinking demand for battery in Estonia, the market is expected to continue its downward consumption trend over the next decade. The performance of the market is forecast to contract with an anticipated CAGR of -% for the period from 2019 to , which is projected to depress the market volume to units by the end of .
% for the period from 2019 to , which is projected to depress the market volume to units by the end of .Market Structure
Driven by a growing demand, the share of imports in total supply in Estonia increased significantly over the last twelve-year period (from % to %). Total import supply of battery is expected to rise, though it will be moderately impacted by price increases.
% to %). Total import supply of battery is expected to rise, though it will be moderately impacted by price increases.Trade Balance
Estonia remains a net importer of battery; in physical and value terms, imports consistently exceeded exports from 2007 to 2019. In 2019, there was a significant trade deficit of units, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.
units, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.
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