Europe: Rock Cutter Market 2024

Rock Cutter Market Size in Europe

In 2022, the Europe rock cutter market decreased by -40% to $X for the first time since 2019, thus ending a two-year rising trend. In general, consumption, however, continues to indicate buoyant growth. As a result, consumption attained the peak level of $X, and then dropped notably in the following year.

Rock Cutter Production in Europe

In value terms, rock cutter production declined to $X in 2022 estimated in export price. In general, production recorded a abrupt decrease. The pace of growth appeared the most rapid in 2021 when the production volume increased by 22%. The level of production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Rock Cutter Exports

Exports in Europe

In 2022, the amount of coal or rock cutters and tunnelling machinery exported in Europe declined to X units, shrinking by -5.7% compared with the previous year. Total exports indicated tangible growth from 2012 to 2022: its volume increased at an average annual rate of +3.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +57.0% against 2018 indices. The most prominent rate of growth was recorded in 2019 when exports increased by 61% against the previous year. Over the period under review, the exports reached the peak figure at X units in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

In value terms, rock cutter exports rose modestly to $X in 2022. Over the period under review, exports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 when exports increased by 53% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

Exports by Country

Germany dominates exports structure, amounting to X units, which was approx. 74% of total exports in 2022. Sweden (X units) ranks second in terms of the total exports with a 6.5% share, followed by Italy (5.1%) and the UK (4.5%). 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%), Greece (+30.7%) and the UK (+5.9%) displayed positive paces of growth. Moreover, Sweden emerged as the fastest-growing exporter exported in Europe, with a CAGR of +51.7% from 2012-2022. By contrast, Italy (-6.7%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Sweden, Germany and Greece increased by +6.4, +5.5 and +1.9 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Germany ($X) remains the largest rock cutter supplier in Europe, comprising 75% of total exports. The second position in the ranking was held by Sweden ($X), with an 8.9% share of total exports. It was followed by Italy, with a 5.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Germany was relatively modest. The remaining exporting countries recorded the following average annual rates of exports growth: Sweden (+57.9% per year) and Italy (-5.9% per year).

Export Prices by Country

In 2022, the export price in Europe amounted to $X per unit, with an increase of 7.8% against the previous year. Over the period under review, the export price, however, recorded a pronounced decline. The pace of growth was the most pronounced in 2018 when the export price increased by 15%. Over the period under review, the export prices attained the peak figure at $X per unit in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Sweden ($X per unit), while the UK ($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 (+21.2%), while the other leaders experienced more modest paces of growth.

Rock Cutter Imports

Imports in Europe

In 2022, supplies from abroad of coal or rock cutters and tunnelling machinery increased by 29% to X units, rising for the third year in a row after two years of decline. Over the period under review, imports posted a resilient expansion. The pace of growth was the most pronounced in 2013 with an increase of 73%. The volume of import peaked in 2022 and is likely to see gradual growth in years to come.

In value terms, rock cutter imports surged to $X in 2022. Total imports indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +7.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +65.6% against 2019 indices. The growth pace was the most rapid in 2013 when imports increased by 39% against the previous year. The level of import peaked in 2022 and is likely to see steady growth in years to come.

Imports by Country

In 2022, Germany (X units) was the largest importer of coal or rock cutters and tunnelling machinery, making up 40% of total imports. The UK (X units) held the second position in the ranking, distantly followed by Switzerland (X units), Italy (X units) and Norway (X units). All these countries together took approx. 40% share of total imports. The following importers - Greece (X units) and Poland (X units) - each accounted for a 5.4% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to rock cutter imports into Germany stood at +26.2%. At the same time, Greece (+50.6%), Norway (+38.4%), Switzerland (+33.3%), Poland (+21.0%), Italy (+11.8%) and the UK (+10.0%) displayed positive paces of growth. Moreover, Greece emerged as the fastest-growing importer imported in Europe, with a CAGR of +50.6% from 2012-2022. While the share of Germany (+28 p.p.), Switzerland (+6.5 p.p.), Norway (+5.6 p.p.) and Greece (+2.6 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of the UK (-3.6 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the UK ($X), Germany ($X) and Norway ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined 53% share of total imports. Switzerland, Italy, Greece and Poland lagged somewhat behind, together comprising a further 29%.

Among the main importing countries, Greece, with a CAGR of +87.9%, saw 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

In 2022, the import price in Europe amounted to $X per unit, picking up by 3.5% against the previous year. In general, the import price, however, continues to indicate a perceptible decrease. The pace of growth was the most pronounced in 2019 when the import price increased by 29% against the previous year. Over the period under review, import prices hit record highs at $X per unit in 2012; however, from 2013 to 2022, import prices remained at a 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 Greece ($X per unit), while Germany ($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