Denmark: Market for Mechanical Shovels, Excavators And Shovel Loaders 2024

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

The Danish mechanical shovel and excavator market expanded remarkably to $X in 2021, picking up by 7.4% against the previous year. The market value increased at an average annual rate of +3.8% from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. Over the period under review, the market attained the peak level in 2021 and is likely to continue growth in the near future.

Production of Mechanical Shovels, Excavators And Shovel Loaders in Denmark

In value terms, mechanical shovel and excavator production rose to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.8% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when the production volume increased by 14% against the previous year. Mechanical shovel and excavator production peaked at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Exports of Mechanical Shovels, Excavators And Shovel Loaders

Exports from Denmark

For the third year in a row, Denmark recorded growth in overseas shipments of mechanical shovels, excavators and shovel loaders, which increased by 55% to X units in 2021. In general, exports recorded a resilient expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, mechanical shovel and excavator exports surged to $X in 2021. Overall, total exports indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +7.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +89.1% against 2016 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Ghana (X units), Sweden (X units) and Germany (X units) were the main destinations of mechanical shovel and excavator exports from Denmark, with a combined 51% share of total exports. These countries were followed by Poland, Belgium, Norway, the Netherlands, Australia, Finland and Faroe Islands, which together accounted for a further 35%.

From 2012 to 2021, the biggest increases were recorded for Belgium (with a CAGR of +84.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Sweden ($X) and Poland ($X) were the largest markets for mechanical shovel and excavator exported from Denmark worldwide, together accounting for 54% of total exports. These countries were followed by Norway, Faroe Islands, the Netherlands, Ghana, Belgium, Finland and Australia, which together accounted for a further 26%.

Belgium, with a CAGR of +69.3%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average mechanical shovel and excavator export price stood at $X per unit in 2021, declining by -3.7% against the previous year. Over the period under review, the export price saw a slight shrinkage. The most prominent rate of growth was recorded in 2018 when the average export price increased by 19% against the previous year. The export price peaked at $X per unit in 2019; however, from 2020 to 2021, the export prices failed to regain momentum.

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 Faroe Islands ($X per unit), while the average price for exports to Ghana ($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 Norway (+2.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Mechanical Shovels, Excavators And Shovel Loaders

Imports into Denmark

Mechanical shovel and excavator imports into Denmark soared to X units in 2021, growing by 28% on the previous year. Over the period under review, imports continue to indicate resilient growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, mechanical shovel and excavator imports surged to $X in 2021. In general, total imports indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +7.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +23.9% against 2018 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Germany (X units), China (X units) and the UK (X units) were the main suppliers of mechanical shovel and excavator imports to Denmark, with a combined 45% share of total imports. These countries were followed by the Netherlands, Japan, Sweden, Italy, Belgium, France, Finland, Austria and the United States, which together accounted for a further 50%.

From 2012 to 2021, the biggest increases were recorded for Sweden (with a CAGR of +29.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest mechanical shovel and excavator suppliers to Denmark were Germany ($X), Sweden ($X) and Belgium ($X), with a combined 48% share of total imports.

Sweden, with a CAGR of +28.7%, recorded 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 mechanical shovel and excavator import price amounted to $X per unit, with an increase of 5% against the previous year. Over the period under review, the import price, however, recorded a noticeable contraction. Over the period under review, average import prices reached the peak figure at $X per unit in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

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 Belgium ($X per unit), while the price for China ($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 (+4.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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