U.S.: Rock Cutter Market 2024

Rock Cutter Market Size in the U.S.

The U.S. rock cutter market surged to $X in 2022, with an increase of 42% against the previous year. In general, consumption posted a significant increase. Rock cutter consumption peaked in 2022 and is likely to see gradual growth in the near future.

Rock Cutter Production in the U.S.

In value terms, rock cutter production expanded sharply to $X in 2022. The total output value increased at an average annual rate of +2.4% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2020 when the production volume increased by 26% against the previous year. Over the period under review, production attained the maximum level at $X in 2016; however, from 2017 to 2022, production failed to regain momentum.

Rock Cutter Exports

Exports from the U.S.

In 2022, approx. X units of coal or rock cutters and tunnelling machinery were exported from the United States; with an increase of 15% compared with 2021 figures. Over the period under review, exports, however, showed a abrupt curtailment. The pace of growth was the most pronounced in 2019 when exports increased by 106% against the previous year. The exports peaked at X units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, rock cutter exports expanded sharply to $X in 2022. Overall, exports, however, continue to indicate a abrupt shrinkage. The pace of growth appeared the most rapid in 2019 when exports increased by 105% against the previous year. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Canada (X units) was the main destination for rock cutter exports from the United States, with a 42% share of total exports. Moreover, rock cutter exports to Canada exceeded the volume sent to the second major destination, Panama (X units), threefold. The third position in this ranking was held by Germany (X units), with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Canada was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Panama (+48.9% per year) and Germany (-4.5% per year).

In value terms, Canada ($X) remains the key foreign market for coal or rock cutters and tunnelling machinery exports from the United States, comprising 46% of total exports. The second position in the ranking was held by Panama ($X), with a 9.7% share of total exports. It was followed by Germany, with a 9.1% share.

From 2012 to 2022, the average annual growth rate of value to Canada stood at +3.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Panama (+47.9% per year) and Germany (-3.9% per year).

Export Prices by Country

The average rock cutter export price stood at $X per unit in 2022, waning by -3.4% against the previous year. In general, export price indicated a temperate increase from 2012 to 2022: its price increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, rock cutter export price decreased by -10.5% against 2020 indices. The most prominent rate of growth was recorded in 2015 when the average export price increased by 63% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2016 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Chile ($X per unit), while the average price for exports to South Africa ($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 Chile (+14.3%), while the prices for the other major destinations experienced more modest paces of growth.

Rock Cutter Imports

Imports into the U.S.

Rock cutter imports into the United States skyrocketed to X units in 2022, increasing by 41% compared with the year before. Overall, imports saw buoyant growth. The pace of growth was the most pronounced in 2016 when imports increased by 66% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are likely to see gradual growth in the near future.

In value terms, rock cutter imports surged to $X in 2022. Over the period under review, imports recorded a strong increase. The pace of growth was the most pronounced in 2017 when imports increased by 65%. Over the period under review, imports attained the maximum in 2022 and are likely to see gradual growth in the immediate term.

Imports by Country

Italy (X units), South Korea (X units) and Germany (X units) were the main suppliers of rock cutter imports to the United States, together accounting for 65% of total imports. Sweden, Finland, Canada and China lagged somewhat behind, together accounting for a further 33%.

From 2012 to 2022, the biggest increases were recorded for Sweden (with a CAGR of +23.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of coal or rock cutters and tunnelling machinery to the United States, comprising 55% of total imports. The second position in the ranking was held by South Korea ($X), with a 14% share of total imports. It was followed by Finland, with a 9.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Germany totaled +13.8%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+8.7% per year) and Finland (+0.4% per year).

Import Prices by Country

The average rock cutter import price stood at $X per unit in 2022, remaining stable against the previous year. In general, the import price, however, saw a abrupt contraction. The pace of growth appeared the most rapid in 2015 when the average import price increased by 13% against the previous year. The import price peaked at $X per unit in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

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 Germany ($X per unit), while the price for Italy ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+5.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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