Lithuania: Self-Propelled Boring Machinery Market 2024

Self-Propelled Boring Machinery Market Size in Lithuania

In 2022, the Lithuanian self-propelled boring machinery market was finally on the rise to reach $X for the first time since 2019, thus ending a two-year declining trend. In general, consumption continues to indicate a resilient increase. Self-propelled boring machinery consumption peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Self-Propelled Boring Machinery Production in Lithuania

In value terms, self-propelled boring machinery production contracted modestly to $X in 2022 estimated in export price. Over the period under review, production saw a mild shrinkage. The pace of growth was the most pronounced in 2021 when the production volume increased by 3.9%. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Self-Propelled Boring Machinery Exports

Exports from Lithuania

After two years of growth, shipments abroad of self-propelled boring or sinking machinery decreased by -55.6% to X units in 2022. In general, exports continue to indicate a perceptible curtailment. The most prominent rate of growth was recorded in 2018 with an increase of 263% against the previous year. The exports peaked at X units in 2021, and then fell rapidly in the following year.

In value terms, self-propelled boring machinery exports reduced remarkably to $X in 2022. Over the period under review, exports saw a abrupt slump. The growth pace was the most rapid in 2018 when exports increased by 285%. Over the period under review, the exports attained the maximum at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

Latvia (X units), the Netherlands (X units) and Estonia (X units) were the main destinations of self-propelled boring machinery exports from Lithuania, together accounting for 71% of total exports.

From 2012 to 2022, the biggest increases were recorded for the Netherlands (with a CAGR of +26.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Latvia ($X), the Netherlands ($X) and Germany ($X) appeared to be the largest markets for self-propelled boring machinery exported from Lithuania worldwide, together accounting for 81% of total exports.

Among the main countries of destination, Germany, with a CAGR of +9.8%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average self-propelled boring machinery export price amounted to $X per unit, increasing by 27% against the previous year. Overall, the export price, however, continues to indicate a noticeable reduction. The most prominent rate of growth was recorded in 2017 an increase of 68%. Over the period under review, the average export prices reached the maximum at $X per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per unit), while the average price for exports to Finland ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+5.5%), while the prices for the other major destinations experienced mixed trend patterns.

Self-Propelled Boring Machinery Imports

Imports into Lithuania

Self-propelled boring machinery imports into Lithuania fell significantly to X units in 2022, waning by -36.1% against the year before. In general, imports, however, recorded a prominent increase. The growth pace was the most rapid in 2020 with an increase of 150%. As a result, imports attained the peak of X units. From 2021 to 2022, the growth of imports remained at a lower figure.

In value terms, self-propelled boring machinery imports shrank to $X in 2022. Overall, imports, however, continue to indicate a perceptible expansion. The most prominent rate of growth was recorded in 2018 when imports increased by 189% against the previous year. Over the period under review, imports hit record highs at $X in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, the United States (X units) constituted the largest supplier of self-propelled boring machinery to Lithuania, accounting for a 30% share of total imports. Moreover, self-propelled boring machinery imports from the United States exceeded the figures recorded by the second-largest supplier, the UK (X units), twofold. The third position in this ranking was taken by Germany (X units), with an 8.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States stood at -1.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (+4.1% per year) and Germany (-4.0% per year).

In value terms, the United States ($X) constituted the largest supplier of self-propelled boring or sinking machinery to Lithuania, comprising 52% of total imports. The second position in the ranking was held by Germany ($X), with a 14% share of total imports. It was followed by Italy, with a 9.7% share.

From 2012 to 2022, the average annual growth rate of value from the United States was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-0.1% per year) and Italy (+9.7% per year).

Import Prices by Country

The average self-propelled boring machinery import price stood at $X per unit in 2022, picking up by 36% against the previous year. In general, the import price, however, recorded a perceptible descent. The most prominent rate of growth was recorded in 2017 when the average import price increased by 90%. Over the period under review, average import prices reached the maximum at $X per unit in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Italy ($X per unit), while the price for Slovakia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Czech Republic (+544.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform