Winding wire market in Slovakia

Earlier Report Observations

State-owned companies such as Tesla Piešťany and Drôtovňa Hlohovec have been key players in Slovakia's winding wire market, influencing its structure. The COVID-19 pandemic in 2020 disrupted global supply chains and manufacturing in the electrical industry, leading to a decline in winding wire imports to 18.4 тыс. т that year.

In 2021, global winding wire production rose by 13%, boosting imports to 27.9 тыс. т and supporting the launch of local production, which helped push the market volume to 31.1 тыс. т. However, regional inflation and shifts in energy policy reduced consumption in 2022, pulling the market volume down to 24.7 тыс. т.

The global market's emphasis on energy efficiency and material innovations from 2023 onward raised the value of winding wire, increasing the market's monetary size to 212.7 млн $ in 2023. In 2024, the EU Green Claims Directive (2024/825) began affecting product labeling, while investments in new electrical plants in eastern Slovakia, such as those by Volvo and Bosch, provided steady demand, maintaining the market volume at around 25 тыс. т.

Production winding wire in Slovakia

According to Faostat, there is no production of winding wire in Slovakia.

Exports winding wire from Slovakia

Exports in kind, t

Slovakia's exports of foreign winding wire declined for the second year in a row. In 2019, exports stood at 9 337 tonnes, but by 2020 they had dropped by 4.0% to 9 337 tonnes. Looking at the period from 2017 to 2020, exports decreased by 4.1% overall, which translates to an average annual decline of 1.4%. The highest export volume was recorded in 2018 at 9 918 tonnes, with the largest year-on-year increase of 1.9% also occurring that year.

Annual dynamics of product's exports from Slovakia in kind, 2017-2020, t

Between 2017 and 2020, three key markets—Italy, Hungary, and Czechia—collectively accounted for 50.6% of Slovakia's total winding wire exports by volume.

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

The value of winding wire exports from Slovakia fell for the second consecutive year. In 2019, exports were valued at 66.7 million US dollars, but in 2020 they saw a slight decline of 1.7% to 66.7 million US dollars. Over the four-year span from 2017 to 2020, export values actually increased by 4.9%, averaging an annual growth rate of 1.6%. The peak value was reached in 2018 at 75.0 million US dollars, which also marked the largest increase of 18.0% that year. In contrast, 2019 experienced the steepest drop of 9.5%.

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

From 2017 to 2020, Italy, Hungary, and Czechia were the top destinations for Slovakia's winding wire exports in value terms. Italy alone accounted for 28.5% of exports, followed by Hungary at 14.3% and Czechia at 9.4%. Together, these three countries made up 52.1% of the total export value.

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

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

Imports winding wire to Slovakia

Imports in kind, t

The winding wire import market in Slovakia showed significant volatility during the observed period. Imports reached their lowest point in 2018 at 12 227 tonnes and peaked in 2019 at 21 635 tonnes, representing a 1.8-fold difference between these two years. In 2020, Slovakia imported 18 373 tonnes of winding wire, which was a substantial decrease of 15.1% compared to the previous year. The largest year-on-year increase occurred in 2019, with a jump of 76.9%.

Annual dynamics of product's imports to Slovakia in kind, 2017-2020, t

During the 2017–2020 period, Italy, Spain, and Germany were the leading suppliers of winding wire to Slovakia by volume. Italy contributed 34.5% of imports, Spain 20.6%, and Germany 13.9%. Combined, these three countries accounted for 69.0% of Slovakia's total winding wire imports in kind.

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

After two years of growth, winding wire imports into Slovakia declined. In 2020, imports were valued at 122.0 million US dollars, down by 6.2% from the previous year. Over the broader period from 2017 to 2020, import values increased significantly by 71.3%, averaging an annual growth rate of 19.6%. The highest value was recorded in 2019 at 122.0 million US dollars, with the largest increase of 41.6% occurring in 2018.

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

From 2017 to 2020, Italy, Germany, and Spain were the primary sources of winding wire imports to Slovakia in value terms. Italy held a 35.4% share, Germany 18.7%, and Spain 17.1%. Together, these three countries accounted for 71.2% of the total import value, making them the main directions for Slovakia's imports.

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

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