EU: Rock Cutter Market 2024

Rock Cutter Market Size in the EU

In 2022, the EU rock cutter market decreased by -51.7% to $X for the first time since 2019, thus ending a two-year rising trend. Over the period under review, consumption, however, saw a resilient increase. As a result, consumption reached the peak level of $X, and then fell dramatically in the following year.

Rock Cutter Production in the EU

In value terms, rock cutter production dropped to $X in 2022 estimated in export price. In general, production continues to indicate a deep slump. The most prominent rate of growth was recorded in 2021 when the production volume increased by 27%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Rock Cutter Exports

Exports in the EU

In 2022, exports of coal or rock cutters and tunnelling machinery in the European Union reduced to X units, which is down by -7.2% compared with the previous year. Total exports indicated a pronounced expansion from 2012 to 2022: its volume increased at an average annual rate of +3.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2019 with an increase of 71%. 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, rock cutter exports dropped modestly to $X in 2022. Overall, exports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 with an increase of 57% against the previous year. The level of export peaked at $X in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Germany prevails in exports structure, recording X units, which was approx. 79% of total exports in 2022. Sweden (X units) held a 6.9% share (based on physical terms) of total exports, which put it in second place, followed by Italy (5.4%). Greece (X units) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to rock cutter exports from Germany stood at +3.9%. At the same time, Sweden (+51.7%) and Greece (+30.7%) displayed positive paces of growth. Moreover, Sweden emerged as the fastest-growing exporter exported in the European Union, with a CAGR of +51.7% from 2012-2022. By contrast, Italy (-6.7%) illustrated a downward trend over the same period. While the share of Sweden (+6.8 p.p.), Germany (+5.9 p.p.) and Greece (+2 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Italy (-9.2 p.p.) displayed negative dynamics.

In value terms, Germany ($X) remains the largest rock cutter supplier in the European Union, comprising 78% of total exports. The second position in the ranking was taken by Sweden ($X), with a 9.2% share of total exports. It was followed by Italy, with a 5.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Germany was relatively modest. In the other countries, the average annual rates were as follows: Sweden (+57.9% per year) and Italy (-5.9% per year).

Export Prices by Country

The export price in the European Union stood at $X per unit in 2022, growing by 7.6% against the previous year. In general, the export price, however, saw a perceptible shrinkage. The pace of growth appeared the most rapid in 2018 an increase of 15%. Over the period under review, the export prices hit record highs at $X per unit in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Sweden ($X per unit) and Italy ($X per unit), while Germany ($X per unit) and Greece ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Greece (+21.2%), while the other leaders experienced more modest paces of growth.

Rock Cutter Imports

Imports in the EU

In 2022, the amount of coal or rock cutters and tunnelling machinery imported in the European Union was estimated at X units, therefore, remained relatively stable against 2021. Over the period under review, imports showed prominent growth. The most prominent rate of growth was recorded in 2013 when imports increased by 134%. The volume of import peaked at X units in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, rock cutter imports fell remarkably to $X in 2022. Total imports indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +9.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -23.2% against 2020 indices. The growth pace was the most rapid in 2013 when imports increased by 77% against the previous year. Over the period under review, imports attained the maximum at $X in 2020; however, from 2021 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Germany (X units) was the largest importer of coal or rock cutters and tunnelling machinery, committing 64% of total imports. It was distantly followed by Italy (X units), constituting an 11% share of total imports. The following importers - Greece (X units), Poland (X units), France (X units) and the Netherlands (X units) - together made up 14% of total imports.

Imports into Germany increased at an average annual rate of +26.2% from 2012 to 2022. At the same time, Greece (+50.6%), Poland (+21.0%), Italy (+11.8%), the Netherlands (+11.4%) and France (+7.3%) displayed positive paces of growth. Moreover, Greece emerged as the fastest-growing importer imported in the European Union, with a CAGR of +50.6% from 2012-2022. From 2012 to 2022, the share of Germany, Greece and Poland increased by +41, +4 and +1.9 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Germany ($X) constitutes the largest market for imported coal or rock cutters and tunnelling machinery in the European Union, comprising 37% of total imports. The second position in the ranking was taken by Italy ($X), with a 17% share of total imports. It was followed by Greece, with a 15% share.

In Germany, rock cutter imports increased at an average annual rate of +21.6% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Italy (+15.1% per year) and Greece (+87.9% per year).

Import Prices by Country

The import price in the European Union stood at $X per unit in 2022, reducing by -19.9% against the previous year. Over the period under review, the import price saw a pronounced curtailment. The pace of growth was the most pronounced in 2019 an increase of 35% against the previous year. Over the period under review, import prices hit record highs at $X per unit in 2015; however, from 2016 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Greece ($X per unit), while the Netherlands ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Greece (+24.7%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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