Croatia: Full-Rotation Excavator Market 2024

Full-Rotation Excavator Market Size in Croatia

The Croatian full-rotation excavator market soared to $X in 2021, surging by 22% 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). Over the period under review, consumption continues to indicate significant growth. Full-rotation excavator consumption peaked in 2021 and is likely to see gradual growth in years to come.

Full-Rotation Excavator Exports

Exports from Croatia

For the third year in a row, Croatia recorded growth in shipments abroad of self-propelled full-rotation excavators and bulldozers, which increased by 18% to X units in 2021. Overall, exports showed a resilient expansion. The growth pace was the most rapid in 2014 with an increase of 90% against the previous year. Over the period under review, the exports hit record highs in 2021 and are likely to continue growth in years to come.

In value terms, full-rotation excavator exports soared to $X in 2021. Over the period under review, exports showed a prominent expansion. The growth pace was the most rapid in 2017 when exports increased by 118%. The exports peaked in 2021 and are expected to retain growth in the immediate term.

Exports by Country

Bosnia and Herzegovina (X units), Serbia (X units) and Slovenia (X units) were the main destinations of full-rotation excavator exports from Croatia, together comprising 65% of total exports. These countries were followed by Italy, Hungary, Montenegro, Germany, the Netherlands, North Macedonia and Austria, which together accounted for a further 24%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Hungary (with a CAGR of +53.3%), while the other leaders experienced more modest paces of growth.

In value terms, Serbia ($X), Slovenia ($X) and Bosnia and Herzegovina ($X) constituted the largest markets for full-rotation excavator exported from Croatia worldwide, with a combined 71% share of total exports. Italy, Montenegro, Germany, Hungary, Austria, North Macedonia and the Netherlands lagged somewhat behind, together accounting for a further 21%.

In terms of the main countries of destination, Montenegro, with a CAGR of +87.8%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average full-rotation excavator export price amounted to $X per unit, increasing by 14% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.7%. The pace of growth was the most pronounced in 2017 an increase of 21%. Over the period under review, the average export prices hit record highs in 2021 and is likely to continue growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Serbia ($X per unit), while the average price for exports to the Netherlands ($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 Germany (+6.9%), while the prices for the other major destinations experienced more modest paces of growth.

Full-Rotation Excavator Imports

Imports into Croatia

In 2021, approx. X units of self-propelled full-rotation excavators and bulldozers were imported into Croatia; increasing by 14% against the year before. In general, imports continue to indicate a prominent increase. The pace of growth was the most pronounced in 2016 with an increase of 68%. Imports peaked in 2021 and are expected to retain growth in the near future.

In value terms, full-rotation excavator imports skyrocketed to $X in 2021. Over the period under review, imports showed a significant expansion. The pace of growth appeared the most rapid in 2016 with an increase of 83% against the previous year. Imports peaked in 2021 and are likely to see steady growth in the immediate term.

Imports by Country

Germany (X units), Austria (X units) and Italy (X units) were the main suppliers of full-rotation excavator imports to Croatia, with a combined 46% share of total imports. These countries were followed by France, South Korea, Belgium, Slovenia, the Netherlands, China, the UK, Sweden, the Czech Republic and Japan, which together accounted for a further 48%.

From 2012 to 2021, the biggest increases were recorded for the Czech Republic (with a CAGR of +91.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Austria ($X), Germany ($X) and South Korea ($X) constituted the largest full-rotation excavator suppliers to Croatia, with a combined 43% share of total imports. These countries were followed by Italy, Slovenia, the Netherlands, France, Belgium, China, Sweden, Japan, the UK and the Czech Republic, which together accounted for a further 53%.

China, with a CAGR of +89.5%, saw the highest growth rate of the value of imports, among the main suppliers 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 full-rotation excavator import price amounted to $X per unit, growing by 12% against the previous year. Over the last nine years, it increased at an average annual rate of +4.1%. The pace of growth was the most pronounced in 2014 an increase of 14% against the previous year. The import price peaked at $X per unit in 2018; however, from 2019 to 2021, 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 Netherlands ($X per unit), while the price for the UK ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Slovenia (+13.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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