Estonia: Boring Machinery Market 2024

Boring Machinery Market Size in Estonia

After two years of growth, the Estonian boring machinery market decreased by -15.9% to $X in 2022. Overall, consumption, however, showed a buoyant expansion. Boring machinery consumption peaked at $X in 2021, and then dropped notably in the following year.

Boring Machinery Production in Estonia

In value terms, boring machinery production shrank dramatically to $X in 2022 estimated in export price. Over the period under review, production, however, enjoyed a buoyant increase. The pace of growth appeared the most rapid in 2016 when the production volume increased by 247% against the previous year. Over the period under review, production attained the maximum level at $X in 2021, and then reduced dramatically in the following year.

Boring Machinery Exports

Exports from Estonia

In 2022, the amount of boring or sinking machinery exported from Estonia dropped dramatically to X units, declining by -15% against 2021 figures. Overall, exports saw a abrupt setback. The most prominent rate of growth was recorded in 2019 when exports increased by 375%. Over the period under review, the exports reached the maximum at X units in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, boring machinery exports contracted markedly to $X in 2022. In general, exports saw a dramatic downturn. The pace of growth was the most pronounced in 2021 with an increase of 204% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Finland (X units) was the main destination for boring machinery exports from Estonia, with a 76% share of total exports. Moreover, boring machinery exports to Finland exceeded the volume sent to the second major destination, Poland (X units), more than tenfold. Sweden (X units) ranked third in terms of total exports with a 5.9% share.

From 2012 to 2022, the average annual growth rate of volume to Finland amounted to +29.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Poland (0.0% per year) and Sweden (0.0% per year).

In value terms, Finland ($X) emerged as the key foreign market for boring or sinking machinery exports from Estonia, comprising 83% of total exports. The second position in the ranking was taken by Germany ($X), with a 5.5% share of total exports. It was followed by Sweden, with a 2.8% share.

From 2012 to 2022, the average annual growth rate of value to Finland totaled +29.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+10.0% per year) and Sweden (+7.1% per year).

Export Prices by Country

In 2022, the average boring machinery export price amounted to $X per unit, falling by -16.9% against the previous year. Overall, the export price saw a abrupt slump. The most prominent rate of growth was recorded in 2020 an increase of 70%. Over the period under review, the average export prices reached the peak figure at $X per unit in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per unit), while the average price for exports to Poland ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Poland (+58.9%), while the prices for the other major destinations experienced mixed trend patterns.

Boring Machinery Imports

Imports into Estonia

In 2022, the amount of boring or sinking machinery imported into Estonia contracted significantly to X units, with a decrease of -80% on 2021 figures. In general, imports continue to indicate a precipitous setback. The pace of growth appeared the most rapid in 2018 when imports increased by 500%. Over the period under review, imports hit record highs at X units in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, boring machinery imports contracted significantly to $X in 2022. Over the period under review, imports recorded a sharp curtailment. The most prominent rate of growth was recorded in 2018 with an increase of 5,506%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, the United States (X units) was the main boring machinery supplier to Estonia, with a approx. 100% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from the United States totaled -14.9%.

In value terms, the United States ($X) constituted the largest supplier of boring or sinking machinery to Estonia, comprising 44% of total imports. The second position in the ranking was taken by the UK ($X), with a 1.2% share of total imports.

From 2012 to 2022, the average annual growth rate of value from the United States totaled -21.9%.

Import Prices by Country

The average boring machinery import price stood at $X per unit in 2022, growing by 24% against the previous year. Over the period under review, the import price, however, saw a abrupt contraction. The pace of growth was the most pronounced in 2018 when the average import price increased by 837%. Over the period under review, average import prices reached the maximum at $X per unit in 2020; however, from 2021 to 2022, 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 the United States ($X per unit), while the price for the UK amounted to $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sweden (+2.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform