Dominican Republic: Market for Mechanical Shovels, Excavators And Shovel Loaders 2024

Market Size for Mechanical Shovels, Excavators And Shovel Loaders in the Dominican Republic

In 2021, the Dominican mechanical shovel and excavator market increased by 18% to $X, rising for the second consecutive year after two years of decline. Over the period under review, the total consumption indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +5.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +29.3% against 2019 indices. Over the period under review, the market reached the maximum level at $X in 2017; however, from 2018 to 2021, consumption failed to regain momentum.

Exports of Mechanical Shovels, Excavators And Shovel Loaders

Exports from the Dominican Republic

In 2021, approx. X units of mechanical shovels, excavators and shovel loaders were exported from the Dominican Republic; dropping by -82.5% on the previous year's figure. Overall, exports continue to indicate a deep slump. The growth pace was the most rapid in 2020 when exports increased by 186% against the previous year. As a result, the exports attained the peak of X units, and then shrank markedly in the following year.

In value terms, mechanical shovel and excavator exports dropped markedly to $X in 2021. Over the period under review, exports saw a abrupt shrinkage. The most prominent rate of growth was recorded in 2020 when exports increased by 250% against the previous year. As a result, the exports attained the peak of $X, and then declined dramatically in the following year.

Exports by Country

Haiti (X units), Turks and Caicos Islands (X units) and Guatemala (X units) were the main destinations of mechanical shovel and excavator exports from the Dominican Republic, with a combined 71% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Guatemala (with a CAGR of 0.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Haiti ($X) remains the key foreign market for mechanical shovels, excavators and shovel loaders exports from the Dominican Republic, comprising 47% of total exports. The second position in the ranking was held by Guatemala ($X), with a 16% share of total exports. It was followed by Jamaica, with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Haiti totaled -14.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Guatemala (0.0% per year) and Jamaica (-0.5% per year).

Export Prices by Country

In 2021, the average mechanical shovel and excavator export price amounted to $X per unit, with an increase of 42% against the previous year. In general, the export price, however, continues to indicate a pronounced decrease. Over the period under review, the average export prices attained the maximum at $X per unit in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Haiti ($X per unit), while the average price for exports to Panama ($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 Suriname (+26.9%), while the prices for the other major destinations experienced a decline.

Imports of Mechanical Shovels, Excavators And Shovel Loaders

Imports into the Dominican Republic

In 2021, the amount of mechanical shovels, excavators and shovel loaders imported into the Dominican Republic reduced modestly to X units, waning by -2.7% compared with 2020. Overall, total imports indicated a moderate expansion from 2012 to 2021: its volume increased at an average annual rate of +2.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +35.7% against 2019 indices. The pace of growth appeared the most rapid in 2015 with an increase of 40%. Over the period under review, imports reached the peak figure at X units in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

In value terms, mechanical shovel and excavator imports stood at $X in 2021. In general, total imports indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +6.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +21.7% against 2019 indices. The most prominent rate of growth was recorded in 2015 with an increase of 39% against the previous year. Over the period under review, imports attained the peak figure at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

The United States (X units), China (X units) and Japan (X units) were the main suppliers of mechanical shovel and excavator imports to the Dominican Republic, with a combined 56% share of total imports. South Korea, Brazil, India, France, Italy, the Czech Republic and Germany lagged somewhat behind, together comprising a further 34%.

From 2012 to 2021, the biggest increases were recorded for France (with a CAGR of +35.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), China ($X) and Brazil ($X) were the largest mechanical shovel and excavator suppliers to the Dominican Republic, with a combined 68% share of total imports. These countries were followed by Japan, South Korea, India, Italy, France, the Czech Republic and Germany, which together accounted for a further 26%.

Among the main suppliers, France, with a CAGR of +205.9%, recorded 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

The average mechanical shovel and excavator import price stood at $X per unit in 2021, picking up by 11% against the previous year. Over the period under review, import price indicated perceptible growth from 2012 to 2021: its price increased at an average annual rate of +4.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, mechanical shovel and excavator import price decreased by -10.3% against 2019 indices. The most prominent rate of growth was recorded in 2018 when the average import price increased by 40% against the previous year. Over the period under review, average import prices attained the maximum at $X per unit in 2019; however, from 2020 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Brazil (+10.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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