Slovakia: Market for Mechanical Shovels, Excavators And Shovel Loaders 2024

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

The Slovak mechanical shovel and excavator market surged to $X in 2021, jumping by 87% 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). Overall, consumption showed a noticeable increase. As a result, consumption attained the peak level of $X. From 2014 to 2021, the growth of the market remained at a lower figure.

Exports of Mechanical Shovels, Excavators And Shovel Loaders

Exports from Slovakia

In 2021, overseas shipments of mechanical shovels, excavators and shovel loaders increased by 32% to X units, rising for the fifth consecutive year after four years of decline. Over the period under review, exports posted a measured increase. The most prominent rate of growth was recorded in 2017 when exports increased by 43% against the previous year. The exports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, mechanical shovel and excavator exports skyrocketed to $X in 2021. In general, exports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2017 when exports increased by 82% against the previous year. The exports peaked in 2021 and are expected to retain growth in the near future.

Exports by Country

The Czech Republic (X units) was the main destination for mechanical shovel and excavator exports from Slovakia, accounting for a 32% share of total exports. Moreover, mechanical shovel and excavator exports to the Czech Republic exceeded the volume sent to the second major destination, Hungary (X units), twofold. Romania (X units) ranked third in terms of total exports with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the Czech Republic amounted to +9.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hungary (-1.1% per year) and Romania (+21.6% per year).

In value terms, the Czech Republic ($X), Hungary ($X) and Russia ($X) appeared to be the largest markets for mechanical shovel and excavator exported from Slovakia worldwide, with a combined 62% share of total exports. Romania, Poland, Croatia, Ukraine, Austria and Germany lagged somewhat behind, together accounting for a further 25%.

Romania, with a CAGR of +17.0%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average mechanical shovel and excavator export price amounted to $X per unit, increasing by 14% against the previous year. In general, the export price, however, showed a pronounced contraction. The most prominent rate of growth was recorded in 2017 when the average export price increased by 27% against the previous year. The export price peaked at $X per unit in 2012; however, from 2013 to 2021, 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 Hungary ($X per unit), while the average price for exports to Croatia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Ukraine (+1.9%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Mechanical Shovels, Excavators And Shovel Loaders

Imports into Slovakia

Mechanical shovel and excavator imports into Slovakia soared to X units in 2021, growing by 75% compared with 2020. In general, imports showed a significant expansion. The pace of growth was the most pronounced in 2013 with an increase of 5,721% against the previous year. As a result, imports reached the peak of X units. From 2014 to 2021, the growth of imports remained at a lower figure.

In value terms, mechanical shovel and excavator imports skyrocketed to $X in 2021. Over the period under review, imports continue to indicate a resilient expansion. The growth pace was the most rapid in 2015 with an increase of 62% against the previous year. Imports peaked at $X in 2019; however, from 2020 to 2021, imports failed to regain momentum.

Imports by Country

The Czech Republic (X units), Austria (X units) and Germany (X units) were the main suppliers of mechanical shovel and excavator imports to Slovakia, together comprising 67% of total imports. The Netherlands, Finland, Sweden, Belgium, Poland, China, the UK, Norway and Italy lagged somewhat behind, together comprising a further 27%.

From 2012 to 2021, the biggest increases were recorded for Finland (with a CAGR of +96.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest mechanical shovel and excavator suppliers to Slovakia were Austria ($X), Germany ($X) and Belgium ($X), together accounting for 58% of total imports. The Czech Republic, the UK, Sweden, the Netherlands, Finland, China, Norway, Poland and Italy lagged somewhat behind, together accounting for a further 32%.

Among the main suppliers, Finland, with a CAGR of +89.1%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average mechanical shovel and excavator import price amounted to $X per unit, shrinking by -13.2% against the previous year. In general, the import price faced a deep reduction. The most prominent rate of growth was recorded in 2014 when the average import price increased by 3,601% against the previous year. Over the period under review, average import prices reached the peak figure at $X per unit in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+0.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :