U.S.: Market for Mechanical Shovels, Excavators And Shovel Loaders 2024

Market Size for Mechanical Shovels, Excavators And Shovel Loaders in the U.S.

In 2021, the U.S. mechanical shovel and excavator market decreased by -7.1% to $X for the first time since 2011, thus ending a nine-year rising trend. Over the period under review, consumption, however, enjoyed a strong expansion. Over the period under review, the market reached the maximum level at $X in 2020, and then fell in the following year.

Production of Mechanical Shovels, Excavators And Shovel Loaders in the U.S.

In value terms, mechanical shovel and excavator production declined to $X in 2021. Over the period under review, production, however, posted prominent growth. The pace of growth appeared the most rapid in 2020 when the production volume increased by 20% against the previous year. As a result, production reached the peak level of $X, and then contracted in the following year.

Exports of Mechanical Shovels, Excavators And Shovel Loaders

Exports from the U.S.

After two years of decline, overseas shipments of mechanical shovels, excavators and shovel loaders increased by 25% to X units in 2021. Overall, exports, however, continue to indicate a deep slump. The exports 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, recorded a deep setback. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Canada (X units) was the main destination for mechanical shovel and excavator exports from the United States, with a 54% share of total exports. Moreover, mechanical shovel and excavator exports to Canada exceeded the volume sent to the second major destination, Mexico (X units), sixfold. Australia (X units) ranked third in terms of total exports with a 5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Canada stood at -1.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (-3.0% per year) and Australia (-6.6% per year).

In value terms, Canada ($X) remains the key foreign market for mechanical shovels, excavators and shovel loaders exports from the United States, comprising 57% of total exports. The second position in the ranking was taken by Australia ($X), with a 6.7% share of total exports. It was followed by Mexico, with a 5.9% share.

From 2012 to 2021, the average annual growth rate of value to Canada stood at -3.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (-6.2% per year) and Mexico (-4.7% per year).

Export Prices by Country

The average mechanical shovel and excavator export price stood at $X per unit in 2021, with an increase of 2.1% against the previous year. In general, the export price, however, saw a mild decrease. The pace of growth was the most pronounced in 2017 an increase of 5.3% against the previous year. Over the period under review, the average export prices attained the maximum at $X per unit in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Brazil ($X per unit), while the average price for exports to Kuwait ($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 Brazil (+7.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Mechanical Shovels, Excavators And Shovel Loaders

Imports into the U.S.

Mechanical shovel and excavator imports into the United States soared to X units in 2021, rising by 24% compared with 2020 figures. Over the period under review, total imports indicated a notable increase from 2012 to 2021: its volume increased at an average annual rate of +4.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -5.3% against 2019 indices. Over the period under review, imports attained the maximum at X units in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, mechanical shovel and excavator imports soared to $X in 2021. In general, imports showed a relatively flat trend pattern. Imports peaked at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Japan (X units) constituted the largest mechanical shovel and excavator supplier to the United States, with a 63% share of total imports. Moreover, mechanical shovel and excavator imports from Japan exceeded the figures recorded by the second-largest supplier, China (X units), eightfold. The third position in this ranking was taken by South Korea (X units), with a 7% share.

From 2012 to 2021, the average annual growth rate of volume from Japan amounted to +6.2%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+31.4% per year) and South Korea (-5.7% per year).

In value terms, Japan ($X) constituted the largest supplier of mechanical shovels, excavators and shovel loaders to the United States, comprising 60% of total imports. The second position in the ranking was taken by South Korea ($X), with a 9.4% share of total imports. It was followed by the UK, with a 6.8% share.

From 2012 to 2021, the average annual growth rate of value from Japan totaled +1.7%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (-3.5% per year) and the UK (+0.0% per year).

Import Prices by Country

The average mechanical shovel and excavator import price stood at $X per unit in 2021, with an increase of 8.1% against the previous year. In general, the import price, however, showed a perceptible descent. Over the period under review, average import prices hit record highs at $X per unit in 2012; however, from 2013 to 2021, 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 Austria ($X per unit), while the price for the Czech Republic ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Austria (+4.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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