Bangladesh: Market for Mechanical Shovels, Excavators And Shovel Loaders 2025

Market Size for Mechanical Shovels, Excavators And Shovel Loaders in Bangladesh

The Bangladeshi mechanical shovel and excavator market soared to $X in 2021, growing by 18% 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). Overall, consumption continues to indicate a resilient increase. Over the period under review, the market reached the peak level at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Exports of Mechanical Shovels, Excavators And Shovel Loaders

Exports from Bangladesh

For the fourth consecutive year, Bangladesh recorded decline in shipments abroad of mechanical shovels, excavators and shovel loaders, which decreased by -45.5% to X units in 2021. Overall, exports, however, enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2015 when exports increased by 645%. As a result, the exports reached the peak of X units. From 2016 to 2021, the growth of the exports failed to regain momentum.

In value terms, mechanical shovel and excavator exports fell markedly to $X in 2021. Over the period under review, exports, however, showed a noticeable expansion. The pace of growth was the most pronounced in 2015 when exports increased by 278% against the previous year. As a result, the exports attained the peak of $X. From 2016 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Denmark (X units) was the main destination for mechanical shovel and excavator exports from Bangladesh, accounting for a 92% share of total exports. Moreover, mechanical shovel and excavator exports to Denmark exceeded the volume sent to the second major destination, India (X units), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume to Denmark stood at +49.1%.

In value terms, the largest markets for mechanical shovel and excavator exported from Bangladesh were India ($X) and Denmark ($X).

Denmark, with a CAGR of +22.3%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review.

Export Prices by Country

The average mechanical shovel and excavator export price stood at $X per unit in 2021, rising by 6.4% against the previous year. In general, the export price, however, showed a perceptible decline. The most prominent rate of growth was recorded in 2016 an increase of 91%. The export price peaked at $X per unit in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was India ($X per unit), while the average price for exports to Denmark stood at $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to India (+18.7%), while the prices for the other major destinations experienced a decline.

Imports of Mechanical Shovels, Excavators And Shovel Loaders

Imports into Bangladesh

Mechanical shovel and excavator imports into Bangladesh was estimated at X units in 2021, surging by 4.1% against the previous year. In general, imports saw a strong expansion. The most prominent rate of growth was recorded in 2016 with an increase of 214% against the previous year. Over the period under review, imports reached the maximum at X units in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, mechanical shovel and excavator imports surged to $X in 2021. Overall, imports posted a prominent increase. The growth pace was the most rapid in 2016 with an increase of 203%. Over the period under review, imports reached the peak figure at $X in 2017; however, from 2018 to 2021, imports failed to regain momentum.

Imports by Country

Japan (X units), China (X units) and India (X units) were the main suppliers of mechanical shovel and excavator imports to Bangladesh, with a combined 74% share of total imports.

From 2012 to 2021, the biggest increases were recorded for India (with a CAGR of +79.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest mechanical shovel and excavator suppliers to Bangladesh were Japan ($X), China ($X) and India ($X), with a combined 76% share of total imports.

Among the main suppliers, India, with a CAGR of +39.8%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average mechanical shovel and excavator import price amounted to $X per unit, picking up by 29% against the previous year. In general, import price indicated a tangible expansion from 2012 to 2021: its price increased at an average annual rate of +2.3% over the last nine-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 2014 an increase of 97% against the previous year. As a result, import price reached the peak level of $X per unit. From 2015 to 2021, the average import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($X per unit), while the price for Saudi Arabia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+32.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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