Iceland: Market for Mechanical Shovels, Excavators And Shovel Loaders 2019

Market Size for Mechanical Shovels, Excavators And Shovel Loaders in Iceland

The revenue of the mechanical shovel and excavator market in Iceland amounted to $X in 2018, falling by -X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, mechanical shovel and excavator consumption, however, continues to indicate a strong expansion. The pace of growth appeared the most rapid in 2012 when the market value increased by X% against the previous year. In that year, the mechanical shovel and excavator market reached its peak level of $X. From 2013 to 2018, the growth of the mechanical shovel and excavator market failed to regain its momentum.

Exports of Mechanical Shovels, Excavators And Shovel Loaders

Exports from Iceland

In 2018, the amount of mechanical shovels, excavators and shovel loaders exported from Iceland amounted to X units, going down by -X% against the previous year. Overall, mechanical shovel and excavator exports continue to indicate an abrupt setback. The most prominent rate of growth was recorded in 2008 when exports increased by X% year-to-year. Iceland exports peaked at X units in 2009; however, from 2010 to 2018, exports failed to regain their momentum.

In value terms, mechanical shovel and excavator exports stood at $X in 2018. Over the period under review, mechanical shovel and excavator exports continue to indicate a slight curtailment. The growth pace was the most rapid in 2016 with an increase of X% y-o-y. Over the period under review, mechanical shovel and excavator exports attained their peak figure at $X in 2009; however, from 2010 to 2018, exports failed to regain their momentum.

Exports by Country

Oman prevails in mechanical shovel and excavator exports structure, reaching X units, which was near X% of total exports in 2018. The following exporters - Japan (X units), China (X units), the UK (X units), South Korea (X units) and Uganda (X units) - together made up X% of total exports.

Oman was also the fastest-growing in terms of the mechanical shovels, excavators and shovel loaders exports, with a CAGR of +X% from 2007 to 2018. At the same time, Uganda (+X%) and China (+X%) displayed positive paces of growth. The UK experienced a relatively flat trend pattern. By contrast, Japan (-X%) and South Korea (-X%) illustrated a downward trend over the same period. From 2007 to 2018, the share of Oman and Uganda increased by +X% and +X% percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($X) remains the largest mechanical shovel and excavator supplier from Iceland, comprising X% of global exports. The second position in the ranking was occupied by China ($X), with a X% share of global exports. It was followed by South Korea, with a X% share.

From 2007 to 2018, the average annual growth rate of value in Japan was relatively modest. In the other countries, the average annual rates were as follows: China (+X% per year) and South Korea (+X% per year).

Export Prices by Country

The mechanical shovel and excavator export price in Iceland stood at $X per unit in 2018, going up by X% against the previous year. Over the period under review, the mechanical shovel and excavator export price continues to indicate remarkable growth. The growth pace was the most rapid in 2016 an increase of X% against the previous year. In that year, the export prices for mechanical shovels, excavators and shovel loaders attained their peak level of $X per unit. From 2017 to 2018, the growth in terms of the export prices for mechanical shovels, excavators and shovel loaders failed to regain its momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2018, the country with the highest price was Japan ($X per unit), while Oman ($X per unit) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by South Korea, while the other leaders experienced more modest paces of growth.

Imports of Mechanical Shovels, Excavators And Shovel Loaders

Imports into Iceland

In 2018, the mechanical shovel and excavator imports into Iceland stood at X units, falling by -X% against the previous year. In general, mechanical shovel and excavator imports, however, continue to indicate a remarkable increase. The growth pace was the most rapid in 2012 when imports increased by X% year-to-year. In that year, mechanical shovel and excavator imports reached their peak of X units. From 2013 to 2018, the growth of mechanical shovel and excavator imports remained at a lower figure.

In value terms, mechanical shovel and excavator imports totaled $X in 2018. In general, mechanical shovel and excavator imports, however, continue to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2014 when imports increased by X% against the previous year. Over the period under review, mechanical shovel and excavator imports attained their maximum at $X in 2017, and then declined slightly in the following year.

Imports by Country

The United Arab Emirates represented the key importer of mechanical shovels, excavators and shovel loaders in the world, with the volume of imports amounting to X units, which was near X% of total imports in 2018. It was distantly followed by Bahrain (X units), making up a X% share of total imports. The following importers - Qatar (X units), Angola (X units), the U.S. (X units), Iraq (X units) and the Netherlands (X units) - together made up X% of total imports.

From 2007 to 2018, the most notable rate of growth in terms of imports, amongst the main importing countries, was attained by Bahrain (+X% per year), while the other leaders experienced more modest paces of growth.

In value terms, the U.S. ($X) constitutes the largest market for imported mechanical shovels, excavators and shovel loaders into Iceland, comprising X% of global imports. The second position in the ranking was occupied by the Netherlands ($X), with a X% share of global imports. It was followed by the United Arab Emirates, with a X% share.

In the U.S., mechanical shovel and excavator imports increased at an average annual rate of +X% over the period from 2007-2018. In the other countries, the average annual rates were as follows: the Netherlands (+X% per year) and the United Arab Emirates (-X% per year).

Import Prices by Country

The mechanical shovel and excavator import price in Iceland stood at $X per unit in 2018, declining by -X% against the previous year. Over the period under review, the mechanical shovel and excavator import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the import price increased by X% year-to-year. Iceland import price peaked at $X per unit in 2017, and then declined slightly in the following year.

Prices varied noticeably by the country of destination; the country with the highest price was the U.S. ($X per unit), while Bahrain ($X per unit) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by the U.S., while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform