Lithuania: Rock Cutter Market 2024

Rock Cutter Market Size in Lithuania

After ten years of growth, the Lithuanian rock cutter market decreased by -44.2% to $X in 2022. Overall, consumption, however, enjoyed resilient growth. As a result, consumption attained the peak level of $X, and then fell remarkably in the following year.

Rock Cutter Production in Lithuania

In value terms, rock cutter production reduced modestly to $X in 2022 estimated in export price. Overall, production recorded a noticeable contraction. The growth pace was the most rapid in 2015 when the production volume increased by 87%. Rock cutter production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Rock Cutter Exports

Exports from Lithuania

In 2022, after two years of decline, there was significant growth in shipments abroad of coal or rock cutters and tunnelling machinery, when their volume increased by 19% to X units. Over the period under review, exports, however, continue to indicate a abrupt downturn. The growth pace was the most rapid in 2015 with an increase of 600%. As a result, the exports attained the peak of X units. From 2016 to 2022, the growth of the exports failed to regain momentum.

In value terms, rock cutter exports contracted to $X in 2022. In general, exports, however, continue to indicate a pronounced reduction. The most prominent rate of growth was recorded in 2017 with an increase of 133%. As a result, the exports attained the peak of $X. From 2018 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Germany (X units) was the main destination for rock cutter exports from Lithuania, with a 84% share of total exports. Moreover, rock cutter exports to Germany exceeded the volume sent to the second major destination, France (X units), sevenfold. The third position in this ranking was taken by Bulgaria (X units), with a 3.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Germany amounted to -7.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+41.4% per year) and Bulgaria (0.0% per year).

In value terms, Germany ($X) emerged as the key foreign market for coal or rock cutters and tunnelling machinery exports from Lithuania, comprising 84% of total exports. The second position in the ranking was held by France ($X), with a 14% share of total exports. It was followed by Bulgaria, with a 1.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Germany totaled -3.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+47.0% per year) and Bulgaria (+1.2% per year).

Export Prices by Country

The average rock cutter export price stood at $X per unit in 2022, reducing by -27.4% against the previous year. Overall, the export price, however, recorded a notable increase. The growth pace was the most rapid in 2014 an increase of 330% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2015 to 2022, the average export prices failed to regain momentum.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the countries with the highest prices were France ($X per unit) and Germany ($X per unit), while the average price for exports to Latvia ($X per unit) and Bulgaria ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to France (+8.1%), while the prices for the other major destinations experienced more modest paces of growth.

Rock Cutter Imports

Imports into Lithuania

In 2022, after three years of growth, there was significant decline in overseas purchases of coal or rock cutters and tunnelling machinery, when their volume decreased by -37.5% to X units. Overall, imports, however, recorded a buoyant expansion. The most prominent rate of growth was recorded in 2015 with an increase of 775% against the previous year. Imports peaked at X units in 2021, and then declined sharply in the following year.

In value terms, rock cutter imports reduced rapidly to $X in 2022. Over the period under review, imports, however, saw prominent growth. The pace of growth was the most pronounced in 2015 with an increase of 1,208%. Over the period under review, imports hit record highs at $X in 2021, and then contracted notably in the following year.

Imports by Country

In 2022, Sweden (X units) constituted the largest rock cutter supplier to Lithuania, with a 70% share of total imports. Moreover, rock cutter imports from Sweden exceeded the figures recorded by the second-largest supplier, Austria (X units), fivefold. The third position in this ranking was taken by Poland (X units), with a 10% share.

From 2012 to 2022, the average annual growth rate of volume from Sweden amounted to +358.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Austria (-8.8% per year) and Poland (+11.6% per year).

In value terms, Sweden ($X) constituted the largest supplier of coal or rock cutters and tunnelling machinery to Lithuania, comprising 47% of total imports. The second position in the ranking was held by Austria ($X), with a 23% share of total imports. It was followed by Poland, with a 17% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Sweden totaled +301.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Austria (+1.7% per year) and Poland (+77.7% per year).

Import Prices by Country

The average rock cutter import price stood at $X per unit in 2022, falling by -79.8% against the previous year. Overall, the import price, however, enjoyed a slight increase. The pace of growth was the most pronounced in 2013 an increase of 326% against the previous year. The import price peaked at $X per unit in 2021, and then shrank notably in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Italy ($X per unit), while the price for Sweden ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Austria (+10.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform