EU: Boring Machinery Market 2024

Boring Machinery Market Size in the EU

The EU boring machinery market fell to $X in 2022, with a decrease of -1.7% against the previous year. In general, consumption recorded a relatively flat trend pattern. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Boring Machinery Production in the EU

In value terms, boring machinery production contracted to $X in 2022 estimated in export price. Over the period under review, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 37%. The level of production peaked at $X in 2013; however, from 2014 to 2022, production remained at a lower figure.

Boring Machinery Exports

Exports in the EU

In 2022, exports of boring or sinking machinery in the European Union shrank remarkably to X units, with a decrease of -32.2% compared with the previous year's figure. Overall, exports recorded a abrupt setback. The growth pace was the most rapid in 2019 when exports increased by 35%. Over the period under review, the exports hit record highs at X units in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

In value terms, boring machinery exports declined dramatically to $X in 2022. In general, exports continue to indicate a abrupt descent. The growth pace was the most rapid in 2019 when exports increased by 17% against the previous year. The level of export peaked at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

Italy (X units) and Spain (X units) represented roughly 48% of total exports in 2022. It was distantly followed by Germany (X units), the Netherlands (X units), Sweden (X units) and Romania (X units), together mixing up a 35% share of total exports. Poland (X units) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Spain (with a CAGR of +6.9%), while the other leaders experienced more modest paces of growth.

In value terms, the largest boring machinery supplying countries in the European Union were Italy ($X), Sweden ($X) and Germany ($X), together comprising 65% of total exports.

Among the main exporting countries, Italy, with a CAGR of +3.7%, saw the highest rates of growth with regard to 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

The export price in the European Union stood at $X per unit in 2022, rising by 4.2% against the previous year. Over the period under review, the export price, however, continues to indicate a noticeable slump. The pace of growth appeared the most rapid in 2018 when the export price increased by 20%. The level of export peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Sweden ($X per unit), while Spain ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+13.6%), while the other leaders experienced mixed trends in the export price figures.

Boring Machinery Imports

Imports in the EU

In 2022, supplies from abroad of boring or sinking machinery decreased by -31.3% to X units for the first time since 2019, thus ending a two-year rising trend. In general, imports continue to indicate a abrupt downturn. The most prominent rate of growth was recorded in 2021 with an increase of 46% against the previous year. Over the period under review, imports reached the maximum at X units in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, boring machinery imports shrank dramatically to $X in 2022. Overall, imports continue to indicate a abrupt slump. The pace of growth appeared the most rapid in 2018 with an increase of 50%. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

Spain represented the major importing country with an import of about X units, which recorded 48% of total imports. Italy (X units) ranks second in terms of the total imports with a 7.3% share, followed by the Netherlands (6.3%) and Germany (5.5%). France (X units), Austria (X units), Romania (X units), Sweden (X units), Poland (X units), Denmark (X units), Finland (X units), Croatia (X units) and the Czech Republic (X units) followed a long way behind the leaders.

Spain was also the fastest-growing in terms of the boring or sinking machinery imports, with a CAGR of +23.9% from 2012 to 2022. At the same time, Croatia (+15.7%), Denmark (+12.5%) and the Czech Republic (+10.2%) displayed positive paces of growth. By contrast, the Netherlands (-1.7%), France (-3.3%), Sweden (-4.9%), Finland (-5.0%), Austria (-6.4%), Italy (-9.4%), Romania (-11.5%), Germany (-15.0%) and Poland (-26.6%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Spain, the Netherlands and Denmark increased by +46, +2.5 and +1.8 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Spain ($X) constitutes the largest market for imported boring or sinking machinery in the European Union, comprising 46% of total imports. The second position in the ranking was taken by France ($X), with a 6.2% share of total imports. It was followed by Italy, with a 6% share.

From 2012 to 2022, the average annual growth rate of value in Spain stood at +20.5%. The remaining importing countries recorded the following average annual rates of imports growth: France (-1.7% per year) and Italy (-6.2% per year).

Import Prices by Country

In 2022, the import price in the European Union amounted to $X per unit, with an increase of 6.3% against the previous year. Overall, the import price, however, saw a mild reduction. The pace of growth was the most pronounced in 2015 when the import price increased by 27%. The level of import peaked at $X per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Denmark ($X per unit), while Austria ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Romania (+5.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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