DC electric motors and generators market in Slovakia

Earlier Report Observations

The Slovak market for DC electric motors and generators began the period with a volume of USD 174.4 million in 2018, supported by the privatization of state-owned heavy machinery assets and the activity of service companies like MEZ Elektromotory Kežmarok, which specialized in motor rewinding and maintenance. By 2019, the market grew to USD 218.4 million, with domestic production reaching USD 137.8 million. A significant shift occurred in 2020, when the market volume surged to USD 349.1 million, driven by a sharp increase in imports to nearly USD 390 million, even as local production contracted to USD 96 million.

Market expansion continued strongly, reaching USD 554.4 million by 2023. This sustained growth was closely tied to the national Action Plan for Electromobility Development introduced in 2022, which emphasized the role of DC charging stations and boosted demand for direct current motors and related components. Furthermore, legislative preparations, including an amendment to the Environmental Impact Assessment (EIA) law and planned reforms in energy legislation, began shaping the regulatory environment for the energy and industrial motor sectors.

In 2024, the market experienced a notable contraction to USD 334.4 million. This coincided with the implementation of new regulatory frameworks, most notably Act No. 143/2024, which altered rules for network industries and supplier switching processes, introducing market uncertainty. Concurrently, reports highlighted persistent challenges in executing the electromobility plan, affecting related demand. Offsetting these pressures were continued investments, such as the planned production facility for 400- and 800-volt motors in Trnava, and the underlying growth of Slovakia's electric vehicle market, which sustained long-term demand for DC motor technologies.

Production DC motors and generators in Slovakia

In value, 2017-2020, M $ US

In 2020, the output of DC electric motors and generators in Slovakia was valued at 96.0 million US dollars, marking a 30.4% decrease from the previous year. Over the period from 2018 to 2020, production declined by 14.4%, with a compound annual growth rate (CAGR) of 5.1%. The peak value was recorded in 2019 at 137.8 million US dollars, which also saw the largest increase of 22.9%.

Annual dynamics of production in Slovakia in value, 2017-2020, M $ US

In kind, 2017-2020, K unit

The market exhibited volatility during the observed period. Production volumes fluctuated 1.8 times from the low in 2018 to the high in 2019. In 2020, Slovakia produced 4 509 thousand units of DC electric motors and generators, representing a 43.4% drop compared to 2019. The maximum volume was recorded in 2019 at 7 973 thousand units, which also experienced the largest increase of 84.2%.

Annual dynamics of production in Slovakia in kind, 2017-2020, K unit

Exports DC motors and generators from Slovakia

Exports in kind, K unit

Slovakia's exports of DC electric motors and generators increased for the third consecutive year. In 2020, the country exported 8 320 thousand units, reflecting a dramatic 74.9% rise compared to the previous year. Over the period from 2017 to 2020, exports grew by 118.6%, with a compound annual growth rate (CAGR) of 29.8%.

Annual dynamics of product's exports from Slovakia in kind, 2017-2020, K unit

From 2017 to 2020, Poland, Denmark, and Slovenia were the main destinations for Slovakia's exports of DC electric motors and generators in kind. Poland accounted for 36.6% of exports, Denmark for 27.8%, and Slovenia for 7.0%, collectively representing 71.4% of total export flows.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Slovakia in kind, 2017-2020

Exports in value, M $ US

In 2020, shipments of DC electric motors and generators from Slovakia abroad reached 136.4 million US dollars, showing a sharp 33.4% increase compared to 2019. Over the period from 2017 to 2020, exports rose by 35.3%, with a compound annual growth rate (CAGR) of 10.6%. The largest decline occurred in 2019 at 4.1%.

Annual dynamics of product's exports from Slovakia in value, 2017-2020, M $ US

Throughout 2017 to 2020, Poland, Denmark, and Spain remained the primary markets for Slovakia's exports of DC electric motors and generators in value terms. Poland held 44.6% of exports, Denmark 28.4%, and Spain 6.9%, together accounting for 79.8% of total export flows.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Slovakia in value, 2017-2020

Imports DC motors and generators to Slovakia

Imports in kind, K unit

After a two-year increase, Slovakia's imports of DC electric motors and generators in kind declined. In 2020, imports stood at 9 986 thousand units, indicating a significant 12.2% contraction from the previous year. Over the period from 2017 to 2020, imports grew by 58.8%, with a compound annual growth rate (CAGR) of 16.7%. The peak volume was recorded in 2019 at 11 368 thousand units, while the largest increase occurred in 2018 at 39.6%.

Annual dynamics of product's imports to Slovakia in kind, 2017-2020, K unit

From 2017 to 2020, Germany, South Korea, and China were the three principal sources for Slovakia's imports of DC electric motors and generators in kind, collectively accounting for 64.4% of total import flows.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Slovakia in kind, 2017-2020

Imports in value, M $ US

Slovakia's imports of DC electric motors and generators in value terms increased for the third consecutive year. In 2020, imports reached 389.6 million US dollars, showing a sudden 113.0% year-on-year rise. Over the period from 2017 to 2020, imports surged by 197.2%, with a compound annual growth rate (CAGR) of 43.8%.

Annual dynamics of product's imports to Slovakia in value, 2017-2020, M $ US

Over 2017 to 2020, Germany, South Korea, and Poland consistently led the country structure of Slovakia's imports of DC electric motors and generators in value terms. Germany accounted for 43.9% of imports, South Korea for 19.7%, and Poland for 7.5%, jointly representing 71.2% of total import flows.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Slovakia in value, 2017-2020