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

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

The revenue of the mechanical shovel and excavator market in Latvia amounted to $X in 2018, picking up 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). In general, mechanical shovel and excavator consumption, however, continues to indicate an abrupt reduction. The most prominent rate of growth was recorded in 2011 when the market value increased by X% y-o-y. Over the period under review, the mechanical shovel and excavator market reached its maximum level at $X in 2007; however, from 2008 to 2018, consumption remained at a lower figure.

Exports of Mechanical Shovels, Excavators And Shovel Loaders

Exports from Latvia

Mechanical shovel and excavator exports from Latvia stood at X units in 2018, increasing by X% against the previous year. In general, mechanical shovel and excavator exports continue to indicate a conspicuous expansion. The pace of growth was the most pronounced in 2009 when exports increased by X% year-to-year. In that year, mechanical shovel and excavator exports reached their peak of X units. From 2010 to 2018, the growth of mechanical shovel and excavator exports failed to regain its momentum.

In value terms, mechanical shovel and excavator exports amounted to $X in 2018. Overall, mechanical shovel and excavator exports continue to indicate measured growth. The growth pace was the most rapid in 2008 when exports increased by 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 remained at a lower figure.

Exports by Country

Oman dominates mechanical shovel and excavator exports structure, amounting to 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. Oman (+X p.p.) and Uganda (+X p.p.) significantly strengthened its position in terms of the global exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($X) remains the largest mechanical shovel and excavator supplier from Latvia, comprising X% of global exports. The second position in the ranking was occupied by China ($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 Latvia stood at $X per unit in 2018, dropping by -X% against the previous year. In general, the mechanical shovel and excavator export price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2012 an increase of X% against the previous year. In that year, the export prices for mechanical shovels, excavators and shovel loaders reached their peak level of $X per unit. From 2013 to 2018, the growth in terms of the export prices for mechanical shovels, excavators and shovel loaders failed to regain its momentum.

Prices varied noticeably by the country of origin; 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 Latvia

In 2018, the amount of mechanical shovels, excavators and shovel loaders imported into Latvia totaled X units, rising by X% against the previous year. Overall, mechanical shovel and excavator imports, however, continue to indicate an abrupt drop. The most prominent rate of growth was recorded in 2011 when imports increased by X% year-to-year. Over the period under review, mechanical shovel and excavator imports reached their peak figure at X units in 2007; however, from 2008 to 2018, imports remained at a lower figure.

In value terms, mechanical shovel and excavator imports totaled $X in 2018. Over the period under review, mechanical shovel and excavator imports, however, continue to indicate a drastic decrease. The pace of growth was the most pronounced in 2011 when imports increased by X% against the previous year. Latvia imports peaked at $X in 2007; however, from 2008 to 2018, imports remained at a lower figure.

Imports by Country

The United Arab Emirates was the major importer of mechanical shovels, excavators and shovel loaders in the world, with the volume of imports resulting at X units, which was near X% of total imports in 2018. It was distantly followed by Bahrain (X units), committing 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. ($X) constitutes the largest market for imported mechanical shovels, excavators and shovel loaders into Latvia, comprising X% of global imports. The second position in the ranking was occupied by the Netherlands ($X), with a X% share of global imports. It was followed by the United Arab Emirates, with a X% share.

From 2007 to 2018, the average annual growth rate of value in the U.S. totaled +X%. 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

In 2018, the mechanical shovel and excavator import price in Latvia amounted to $X per unit, approximately reflecting the previous year. Overall, the mechanical shovel and excavator import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2011 an increase of X% y-o-y. Over the period under review, the import prices for mechanical shovels, excavators and shovel loaders reached their peak figure at $X per unit in 2008; however, from 2009 to 2018, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2018, 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