Northern America: Market for Mechanical Shovels, Excavators And Shovel Loaders 2024

Market Size for Mechanical Shovels, Excavators And Shovel Loaders in Northern America

In 2021, the North American mechanical shovel and excavator market decreased by -5.7% to $X for the first time since 2011, thus ending a nine-year rising trend. Over the period under review, consumption, however, recorded prominent growth. Over the period under review, the market reached the peak level at $X in 2020, and then contracted in the following year.

Production of Mechanical Shovels, Excavators And Shovel Loaders in Northern America

In value terms, mechanical shovel and excavator production reduced to $X in 2021 estimated in export price. Over the period under review, production, however, saw strong growth. The most prominent rate of growth was recorded in 2020 with an increase of 20% against the previous year. As a result, production reached the peak level of $X, and then fell in the following year.

Exports of Mechanical Shovels, Excavators And Shovel Loaders

Exports in Northern America

In 2021, overseas shipments of mechanical shovels, excavators and shovel loaders were finally on the rise to reach X units for the first time since 2018, thus ending a two-year declining trend. Over the period under review, exports, however, saw a perceptible descent. The volume of export peaked at X units in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, mechanical shovel and excavator exports skyrocketed to $X in 2021. In general, exports, however, continue to indicate a abrupt descent. The pace of growth appeared the most rapid in 2017 when exports increased by 26% against the previous year. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The United States prevails in exports structure, recording X units, which was near 97% of total exports in 2021. Canada (X units) held a minor share of total exports.

From 2012 to 2021, average annual rates of growth with regard to mechanical shovel and excavator exports from the United States stood at -5.0%. At the same time, Canada (+3.0%) displayed positive paces of growth. Moreover, Canada emerged as the fastest-growing exporter exported in Northern America, with a CAGR of +3.0% from 2012-2021. From 2012 to 2021, the share of Canada increased by +1.7 percentage points.

In value terms, the United States ($X) remains the largest mechanical shovel and excavator supplier in Northern America, comprising 97% of total exports. The second position in the ranking was taken by Canada ($X), with a 2.8% share of total exports.

In the United States, mechanical shovel and excavator exports plunged by an average annual rate of -6.2% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in Northern America amounted to $X per unit, with an increase of 2.2% against the previous year. Overall, the export price, however, recorded a mild decrease. The most prominent rate of growth was recorded in 2017 when the export price increased by 5.3%. Over the period under review, the export prices attained the peak figure at $X per unit in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was the United States ($X per unit), while Canada stood at $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (-1.3%).

Imports of Mechanical Shovels, Excavators And Shovel Loaders

Imports in Northern America

Mechanical shovel and excavator imports surged to X units in 2021, jumping by 28% on 2020. The total import volume increased at an average annual rate of +2.9% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, mechanical shovel and excavator imports skyrocketed to $X in 2021. Over the period under review, imports, however, saw a relatively flat trend pattern. Over the period under review, imports attained the maximum at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

The United States represented the major importing country with an import of about X units, which finished at 74% of total imports. It was distantly followed by Canada (X units), generating a 26% share of total imports.

The United States was also the fastest-growing in terms of the mechanical shovels, excavators and shovel loaders imports, with a CAGR of +4.4% from 2012 to 2021. Canada experienced a relatively flat trend pattern. While the share of the United States (+8.9 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Canada (-9 p.p.) displayed negative dynamics.

In value terms, the United States ($X) constitutes the largest market for imported mechanical shovels, excavators and shovel loaders in Northern America, comprising 70% of total imports. The second position in the ranking was held by Canada ($X), with a 30% share of total imports.

In the United States, mechanical shovel and excavator imports remained relatively stable over the period from 2012-2021.

Import Prices by Country

The import price in Northern America stood at $X per unit in 2021, with an increase of 7.9% against the previous year. Over the period under review, the import price, however, showed a noticeable shrinkage. The pace of growth was the most pronounced in 2017 an increase of 9%. Over the period under review, import prices attained the maximum at $X per unit in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Canada ($X per unit), while the United States amounted to $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Canada (-1.3%).

Source: IndexBox Platform

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