Belgium: Public Works Machinery Market 2024

Public Works Machinery Market Size in Belgium

The Belgian public works machinery market dropped to $X in 2021, which is down by -1.6% against the previous year. Overall, the total consumption indicated a pronounced expansion from 2012 to 2021: its value increased at an average annual rate of +4.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +83.9% against 2016 indices. Over the period under review, the market attained the maximum level at $X in 2020, and then reduced slightly in the following year.

Public Works Machinery Production in Belgium

In value terms, public works machinery production contracted to $X in 2021 estimated in export price. Over the period under review, production, however, posted a significant increase. The most prominent rate of growth was recorded in 2018 when the production volume increased by 173% against the previous year. Public works machinery production peaked at $X in 2020, and then declined in the following year.

Public Works Machinery Exports

Exports from Belgium

In 2021, shipments abroad of machinery for public works and building increased by 62% to X units, rising for the third year in a row after two years of decline. In general, exports continue to indicate a resilient expansion. The most prominent rate of growth was recorded in 2020 with an increase of 75% against the previous year. The exports peaked in 2021 and are expected to retain growth in years to come.

In value terms, public works machinery exports skyrocketed to $X in 2021. Overall, exports saw a strong expansion. The pace of growth appeared the most rapid in 2020 when exports increased by 78%. Over the period under review, the exports reached the peak figure in 2021 and are likely to see steady growth in the immediate term.

Exports by Country

France (X units) was the main destination for public works machinery exports from Belgium, with a 27% share of total exports. Moreover, public works machinery exports to France exceeded the volume sent to the second major destination, Russia (X units), threefold. Cote d'Ivoire (X units) ranked third in terms of total exports with an 8.6% share.

From 2012 to 2021, the average annual growth rate of volume to France stood at +17.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Russia (+7.5% per year) and Cote d'Ivoire (+37.1% per year).

In value terms, France ($X) remains the key foreign market for machinery for public works and building exports from Belgium, comprising 26% of total exports. The second position in the ranking was taken by Russia ($X), with a 9.2% share of total exports. It was followed by Cote d'Ivoire, with an 8.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value to France stood at +17.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Russia (+7.9% per year) and Cote d'Ivoire (+37.6% per year).

Export Prices by Country

In 2021, the average public works machinery export price amounted to $X per unit, remaining relatively unchanged against the previous year. In general, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 an increase of 7.2% against the previous year. Over the period under review, the average export prices hit record highs at $X per unit in 2018; however, from 2019 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Ghana ($X per unit), while the average price for exports to Panama ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Panama (+6.2%), while the prices for the other major destinations experienced more modest paces of growth.

Public Works Machinery Imports

Imports into Belgium

In 2021, approx. X units of machinery for public works and building were imported into Belgium; increasing by 56% on the previous year's figure. Overall, imports, however, saw a slight slump. The most prominent rate of growth was recorded in 2017 when imports increased by 112% against the previous year. Imports peaked at X units in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, public works machinery imports soared to $X in 2021. Over the period under review, imports, however, continue to indicate a abrupt shrinkage. The pace of growth was the most pronounced in 2017 with an increase of 96%. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, the United States (X units) constituted the largest supplier of public works machinery to Belgium, accounting for a 38% share of total imports. Moreover, public works machinery imports from the United States exceeded the figures recorded by the second-largest supplier, China (X units), twofold. Germany (X units) ranked third in terms of total imports with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United States amounted to +20.1%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+21.1% per year) and Germany (-16.5% per year).

In value terms, the United States ($X) constituted the largest supplier of machinery for public works and building to Belgium, comprising 39% of total imports. The second position in the ranking was held by China ($X), with a 17% share of total imports. It was followed by Germany, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the United States totaled +14.6%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+15.5% per year) and Germany (-20.4% per year).

Import Prices by Country

The average public works machinery import price stood at $X per unit in 2021, which is down by -8.2% against the previous year. Over the period under review, the import price showed a pronounced shrinkage. The most prominent rate of growth was recorded in 2016 an increase of 13% against the previous year. As a result, import price reached the peak level of $X per unit. From 2017 to 2021, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the United States ($X per unit), while the price for Austria ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Austria (-2.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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