U.S.: Self-Propelled Excavating Machinery Market 2024

Self-Propelled Excavating Machinery Market Size in the U.S.

In 2021, the U.S. self-propelled excavating machinery market decreased by -19.6% to $X for the first time since 2018, thus ending a two-year rising trend. Overall, consumption, however, posted a significant expansion. Self-propelled excavating machinery consumption peaked at $X in 2020, and then declined dramatically in the following year.

Self-Propelled Excavating Machinery Production in the U.S.

In value terms, self-propelled excavating machinery production shrank to $X in 2021. Overall, production showed a slight downturn. The pace of growth was the most pronounced in 2020 when the production volume increased by 17% against the previous year. Self-propelled excavating machinery production peaked at $X in 2015; however, from 2016 to 2021, production stood at a somewhat lower figure.

Self-Propelled Excavating Machinery Exports

Exports from the U.S.

In 2021, shipments abroad of self-propelled earth moving, excavating machinery was finally on the rise to reach X units after two years of decline. Over the period under review, exports, however, recorded a abrupt downturn. The most prominent rate of growth was recorded in 2018 with an increase of 42% against the previous year. The exports peaked at X units in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, self-propelled excavating machinery exports surged to $X in 2021. Overall, exports, however, saw a deep contraction. The most prominent rate of growth was recorded in 2018 when exports increased by 50% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Canada (X units) was the main destination for self-propelled excavating machinery exports from the United States, accounting for a 29% share of total exports. Moreover, self-propelled excavating machinery exports to Canada exceeded the volume sent to the second major destination, Mexico (X units), twofold. The third position in this ranking was taken by Australia (X units), with a 7.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Canada stood at -10.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (+1.1% per year) and Australia (-17.0% per year).

In value terms, Canada ($X) remains the key foreign market for self-propelled earth moving, excavating machinery exports from the United States, comprising 27% of total exports. The second position in the ranking was taken by Mexico ($X), with an 8.4% share of total exports. It was followed by Australia, with an 8.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Canada amounted to -11.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (-2.8% per year) and Australia (-14.2% per year).

Export Prices by Country

In 2021, the average self-propelled excavating machinery export price amounted to $X per unit, rising by 6.9% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the average export price increased by 24%. The export price peaked at $X per unit in 2015; however, from 2016 to 2021, the export prices stood at a somewhat 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 Egypt ($X per unit), while the average price for exports to Mexico ($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 New Zealand (+6.7%), while the prices for the other major destinations experienced more modest paces of growth.

Self-Propelled Excavating Machinery Imports

Imports into the U.S.

In 2021, supplies from abroad of self-propelled earth moving, excavating machinery decreased by -14.4% to X units, falling for the second year in a row after three years of growth. Overall, imports saw a deep downturn. The pace of growth appeared the most rapid in 2019 with an increase of 99% against the previous year. Over the period under review, imports reached the peak figure at X units in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, self-propelled excavating machinery imports amounted to $X in 2021. In general, total imports indicated a tangible expansion from 2012 to 2021: its value increased at an average annual rate of +4.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -11.8% against 2019 indices. The pace of growth appeared the most rapid in 2013 when imports increased by 107%. As a result, imports attained the peak of $X. From 2014 to 2021, the growth of imports failed to regain momentum.

Imports by Country

The UK (X units), China (X units) and Canada (X units) were the main suppliers of self-propelled excavating machinery imports to the United States, with a combined 64% share of total imports. Italy, Germany, Japan, South Korea, Finland and Australia lagged somewhat behind, together accounting for a further 30%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by South Korea (with a CAGR of +39.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest self-propelled excavating machinery suppliers to the United States were the UK ($X), Italy ($X) and Finland ($X), together accounting for 72% of total imports.

Finland, with a CAGR of +50.4%, saw the highest growth rate of 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

The average self-propelled excavating machinery import price stood at $X per unit in 2021, jumping by 30% against the previous year. In general, the import price enjoyed a buoyant increase. The most prominent rate of growth was recorded in 2016 when the average import price increased by 407% against the previous year. As a result, import price reached the peak level of $X per unit. From 2017 to 2021, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Finland ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Finland (+34.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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