Serbia: Rock Cutter Market 2024

Rock Cutter Market Size in Serbia

In 2022, after two years of growth, there was significant decline in the Serbian rock cutter market, when its value decreased by -92.1% to $X. In general, consumption, however, showed significant growth. Rock cutter consumption peaked at $X in 2021, and then contracted rapidly in the following year.

Rock Cutter Production in Serbia

In value terms, rock cutter production dropped slightly to $X in 2022 estimated in export price. In general, production showed a perceptible slump. The pace of growth appeared the most rapid in 2013 when the production volume increased by 45% against the previous year. As a result, production reached the peak level of $X. From 2014 to 2022, production growth failed to regain momentum.

Rock Cutter Exports

Exports from Serbia

In 2022, approx. X units of coal or rock cutters and tunnelling machinery were exported from Serbia; remaining relatively unchanged against the previous year's figure. Overall, exports enjoyed a significant expansion. The pace of growth appeared the most rapid in 2017 with an increase of 400% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the immediate term.

In value terms, rock cutter exports totaled $X in 2022. In general, exports continue to indicate a significant increase. The most prominent rate of growth was recorded in 2017 when exports increased by 3,920%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.

Exports by Country

Turkey (X units) was the main destination for rock cutter exports from Serbia, accounting for a 96% share of total exports. It was followed by Slovenia (X units), with a 2% share of total exports. The third position in this ranking was taken by Bosnia and Herzegovina (X units), with a 2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Turkey was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Slovenia (0.0% per year) and Bosnia and Herzegovina (0.0% per year).

It was followed by Austria, with a 0.5% share.

From 2012 to 2022, the average annual growth rate of value to Turkey was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Slovenia (+75.7% per year) and Austria (-13.4% per year).

Export Prices by Country

In 2022, the average rock cutter export price amounted to $X per unit, approximately mirroring the previous year. Over the period under review, the export price saw a strong increase. The pace of growth appeared the most rapid in 2017 an increase of 704% against the previous year. Over the period under review, the average export prices reached the maximum in 2022 and is likely to see gradual growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Slovenia ($X per unit), while the average price for exports to Austria ($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 Montenegro (+163.6%), while the prices for the other major destinations experienced more modest paces of growth.

Rock Cutter Imports

Imports into Serbia

In 2022, after two years of growth, there was significant decline in supplies from abroad of coal or rock cutters and tunnelling machinery, when their volume decreased by -88.1% to X units. Overall, imports, however, enjoyed a significant expansion. The most prominent rate of growth was recorded in 2017 when imports increased by 23,100% against the previous year. Over the period under review, imports attained the maximum at X units in 2021, and then declined notably in the following year.

In value terms, rock cutter imports dropped markedly to $X in 2022. Over the period under review, imports, however, recorded significant growth. The pace of growth was the most pronounced in 2017 when imports increased by 18,808%. Imports peaked at $X in 2021, and then fell dramatically in the following year.

Imports by Country

China (X units), Sweden (X units) and Italy (X units) were the main suppliers of rock cutter imports to Serbia, together accounting for 78% of total imports.

From 2012 to 2022, the biggest increases were recorded for Sweden (with a CAGR of +800.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest rock cutter suppliers to Serbia were Sweden ($X), China ($X) and Italy ($X), together comprising 93% of total imports.

Sweden, with a CAGR of +188.0%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average rock cutter import price amounted to $X per unit, jumping by 28% against the previous year. Over the period under review, the import price continues to indicate strong growth. The pace of growth appeared the most rapid in 2013 an increase of 119%. Over the period under review, average import prices reached the maximum at $X per unit in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hungary (+163.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform