Levels Market

The article analyzes the trends in the global levels market, forecasting a continued upward consumption trend with a CAGR of +4.4% from 2022 to 2030. Despite a decrease in consumption in 2022, the market is expected to reach 111M units by 2030. The market value is also projected to increase with a CAGR of +6.4% to $33.2B by the end of 2030. The article also explores production and import trends, highlighting key consuming countries and their growth rates.

Market Forecast

Driven by increasing demand for levels worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +4.4% for the period from 2022 to 2030, which is projected to bring the market volume to 111M units by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +6.4% for the period from 2022 to 2030, which is projected to bring the market value to $33.2B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Levels

In 2022, consumption of levels decreased by -3.7% to 79M units, falling for the second consecutive year after nine years of growth. Over the period under review, consumption, however, saw strong growth. Over the period under review, global consumption hit record highs at 87M units in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

The global levels market value stood at $20.2B in 2022, approximately equating 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). Overall, consumption, however, continues to indicate a resilient expansion. Global consumption peaked at $21.7B in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were the United States (14M units), China (12M units) and Japan (5.7M units), together comprising 40% of global consumption. Germany, Indonesia, the UK, France, Mexico, Italy, Saudi Arabia, Spain, Canada and Thailand lagged somewhat behind, together comprising a further 34%.

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the leading consuming countries, was attained by Saudi Arabia (with a CAGR of +14.9%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, the largest levels markets worldwide were the United States ($3B), Saudi Arabia ($2.1B) and Japan ($2B), together accounting for 36% of the global market.

Saudi Arabia, with a CAGR of +18.5%, recorded the highest growth rate of market size among the main consuming countries over the period under review, while market for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of levels per capita consumption in 2022 were Saudi Arabia (55 units per 1000 persons), Germany (54 units per 1000 persons) and Canada (50 units per 1000 persons).

From 2012 to 2022, the biggest increases were recorded for Saudi Arabia (with a CAGR of +12.5%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Levels

In 2022, production of levels decreased by -3% to 82M units, falling for the second year in a row after nine years of growth. Over the period under review, production, however, showed a resilient expansion. The pace of growth appeared the most rapid in 2016 when the production volume increased by 16% against the previous year. Over the period under review, global production attained the peak volume at 84M units in 2020; however, from 2021 to 2022, production failed to regain momentum.

In value terms, levels production reached $20.7B in 2022 estimated in export price. Overall, production, however, posted a prominent increase. The pace of growth was the most pronounced in 2020 with an increase of 21% against the previous year. As a result, production reached the peak level of $21.7B. From 2021 to 2022, global production growth remained at a lower figure.

Production By Country

The countries with the highest volumes of production in 2022 were China (20M units), the United States (14M units) and Japan (5.7M units), with a combined 48% share of global production. Thailand, Germany, Indonesia, the UK, France, Italy, Mexico, Saudi Arabia, Spain and Canada lagged somewhat behind, together accounting for a further 35%.

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the leading producing countries, was attained by Saudi Arabia (with a CAGR of +14.9%), while production for the other global leaders experienced more modest paces of growth.

Imports

World Imports of Levels

After two years of growth, purchases abroad of levels decreased by -18.7% to 11M units in 2022. In general, imports, however, recorded a prominent increase. The most prominent rate of growth was recorded in 2018 when imports increased by 50%. Global imports peaked at 13M units in 2021, and then shrank notably in the following year.

In value terms, levels imports reduced to $739M in 2022. Overall, total imports indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +5.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +52.2% against 2016 indices. The growth pace was the most rapid in 2021 with an increase of 33% against the previous year. As a result, imports reached the peak of $859M, and then shrank in the following year.

Imports By Country

The countries with the highest levels of levels imports in 2022 were Brazil (1.1M units), the United Arab Emirates (1.1M units) and Russia (1M units), together resulting at 30% of total import. Peru (605K units) ranks next in terms of the total imports with a 5.6% share, followed by Chile (4.7%). Thailand (424K units), Germany (409K units), South Africa (334K units), Singapore (325K units), Belgium (323K units), Australia (322K units), India (314K units) and the UK (262K units) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for the United Arab Emirates (with a CAGR of +19.3%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, Germany ($134M) constitutes the largest market for imported levels worldwide, comprising 18% of global imports. The second position in the ranking was taken by Belgium ($37M), with a 5% share of global imports. It was followed by the UK, with a 4.5% share.

In Germany, levels imports increased at an average annual rate of +5.0% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Belgium (+11.5% per year) and the UK (+6.1% per year).

Import Prices By Country

The average levels import price stood at $68 per unit in 2022, increasing by 5.7% against the previous year. Over the period under review, the import price, however, saw a noticeable slump. The growth pace was the most rapid in 2016 an increase of 17% against the previous year. Global import price peaked at $100 per unit in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Germany ($327 per unit), while the United Arab Emirates ($3.5 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+9.1%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Levels

In 2022, after two years of growth, there was significant decline in shipments abroad of levels, when their volume decreased by -12.4% to 14M units. In general, exports, however, recorded prominent growth. The pace of growth appeared the most rapid in 2021 with an increase of 78%. As a result, the exports attained the peak of 16M units, and then contracted in the following year.

In value terms, levels exports dropped dramatically to $710M in 2022. Over the period under review, exports, however, showed a prominent expansion. The pace of growth was the most pronounced in 2021 when exports increased by 35%. As a result, the exports reached the peak of $863M, and then declined notably in the following year.

Exports By Country

In 2022, China (8.6M units) represented the major exporter of levels, mixing up 63% of total exports. It was distantly followed by Thailand (3.3M units), constituting a 24% share of total exports. Germany (323K units) followed a long way behind the leaders.

China was also the fastest-growing in terms of the levels exports, with a CAGR of +17.0% from 2012 to 2022. Germany (-1.3%) and Thailand (-1.3%) illustrated a downward trend over the same period. China (+37 p.p.) significantly strengthened its position in terms of the global exports, while Germany and Thailand saw its share reduced by -2.9% and -30.6% from 2012 to 2022, respectively.

In value terms, the largest levels supplying countries worldwide were China ($237M), Germany ($150M) and Thailand ($22M), with a combined 58% share of global exports.

China, with a CAGR of +22.4%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other global leaders experienced mixed trends in the exports figures.

Export Prices By Country

In 2022, the average levels export price amounted to $51 per unit, declining by -6.1% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 an increase of 17% against the previous year. Over the period under review, the average export prices attained the maximum at $87 per unit in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Germany ($465 per unit), while Thailand ($6.5 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+4.6%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform