Europe: Hollow Drill Bar Market 2024

Hollow Drill Bar Market Size in Europe

In 2021, after three years of growth, there was significant decline in the Europe hollow drill bar market, when its value decreased by -9.9% to $X. The market value increased at an average annual rate of +1.4% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked at $X in 2020, and then fell in the following year.

Hollow Drill Bar Production in Europe

In value terms, hollow drill bar production declined slightly to $X in 2021 estimated in export price. Overall, production, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 with an increase of 11%. Over the period under review, production attained the maximum level at $X in 2020, and then contracted modestly in the following year.

Hollow Drill Bar Exports

Exports in Europe

In 2021, overseas shipments of hollow drill bars and rods increased by 32% to X tons, rising for the second year in a row after two years of decline. Over the period under review, exports, however, showed a abrupt downturn. The most prominent rate of growth was recorded in 2017 with an increase of 42%. The volume of export peaked at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, hollow drill bar exports soared to $X in 2021. Overall, exports, however, continue to indicate a deep downturn. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Sweden was the major exporter of hollow drill bars and rods in Europe, with the volume of exports amounting to X tons, which was approx. 61% of total exports in 2021. Italy (X tons) took a 19% share (based on physical terms) of total exports, which put it in second place, followed by the UK (12%). The following exporters - the Netherlands (X tons) and Germany (X tons) - each finished at a 3.5% share of total exports.

Exports from Sweden decreased at an average annual rate of -1.5% from 2012 to 2021. At the same time, Italy (+15.8%) displayed positive paces of growth. Moreover, Italy emerged as the fastest-growing exporter exported in Europe, with a CAGR of +15.8% from 2012-2021. By contrast, the UK (-7.2%), the Netherlands (-11.5%) and Germany (-34.7%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Sweden and Italy increased by +24 and +17 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Sweden ($X) remains the largest hollow drill bar supplier in Europe, comprising 53% of total exports. The second position in the ranking was taken by the Netherlands ($X), with a 20% share of total exports. It was followed by the UK, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Sweden amounted to -3.9%. In the other countries, the average annual rates were as follows: the Netherlands (+13.1% per year) and the UK (-7.8% per year).

Export Prices by Country

In 2021, the export price in Europe amounted to $X per ton, picking up by 24% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 an increase of 28%. Over the period under review, the export prices hit record highs in 2021 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while Italy ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+27.8%), while the other leaders experienced mixed trends in the export price figures.

Hollow Drill Bar Imports

Imports in Europe

In 2021, hollow drill bar imports in Europe rose slightly to X tons, increasing by 3.2% compared with the year before. Overall, imports, however, saw a pronounced descent. The most prominent rate of growth was recorded in 2018 when imports increased by 13% against the previous year. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, hollow drill bar imports expanded notably to $X in 2021. In general, imports, however, recorded a noticeable slump. The level of import peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

France was the major importer of hollow drill bars and rods in Europe, with the volume of imports resulting at X tons, which was near 40% of total imports in 2021. Sweden (X tons) ranks second in terms of the total imports with a 12% share, followed by Austria (9.7%), Russia (8%), Germany (6%) and Norway (5.3%). Switzerland (X tons) took a minor share of total imports.

Imports into France decreased at an average annual rate of -2.4% from 2012 to 2021. At the same time, Sweden (+14.2%), Switzerland (+10.5%) and Germany (+3.8%) displayed positive paces of growth. Moreover, Sweden emerged as the fastest-growing importer imported in Europe, with a CAGR of +14.2% from 2012-2021. Norway and Austria experienced a relatively flat trend pattern. By contrast, Russia (-2.3%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Sweden, Germany, France, Switzerland, Austria and Norway increased by +9.5, +2.8, +2.4, +2.4, +2 and +1.5 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest hollow drill bar importing markets in Europe were France ($X), Russia ($X) and Austria ($X), with a combined 50% share of total imports.

In terms of the main importing countries, Austria, with a CAGR of +6.2%, 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

In 2021, the import price in Europe amounted to $X per ton, picking up by 11% against the previous year. Overall, the import price, however, recorded a slight slump. The pace of growth was the most pronounced in 2016 an increase of 27% against the previous year. Over the period under review, import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Russia ($X per ton), while France ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Austria (+6.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform