United Kingdom: Underground Continuous-Action Elevator Market 2024

Underground Continuous-Action Elevator Market Size in the UK

The UK underground continuous-action elevator market surged to $X in 2021, picking up by 28% against the previous year. Overall, consumption, however, continues to indicate a perceptible slump. Over the period under review, the market attained the maximum level at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Underground Continuous-Action Elevator Production in the UK

In value terms, underground continuous-action elevator production rose modestly to $X in 2021 estimated in export price. Over the period under review, production recorded a slight contraction. The pace of growth appeared the most rapid in 2017 when the production volume increased by 166% against the previous year. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Underground Continuous-Action Elevator Exports

Exports from the UK

In 2021, approx. X units of underground continuous-action elevators and conveyors were exported from the UK; which is down by -95.4% against the previous year. Overall, exports showed a significant contraction. The pace of growth appeared the most rapid in 2020 with an increase of 857%. The exports peaked at X units in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

In value terms, underground continuous-action elevator exports plummeted to $X in 2021. Over the period under review, exports saw a precipitous contraction. The pace of growth appeared the most rapid in 2020 when exports increased by 1,432%. The exports peaked 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 underground continuous-action elevator exports from the UK, with a 60% share of total exports. Moreover, underground continuous-action elevator exports to Canada exceeded the volume sent to the second major destination, Ireland (X units), threefold. The third position in this ranking was held by the United States (X units), with a 7% share.

From 2012 to 2021, the average annual growth rate of volume to Canada amounted to +81.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ireland (+289.3% per year) and the United States (-28.3% per year).

In value terms, Canada ($X), Ireland ($X) and the Netherlands ($X) constituted the largest markets for underground continuous-action elevator exported from the UK worldwide, together comprising 78% of total exports.

Ireland, with a CAGR of +282.2%, saw the highest growth rate of the value of exports, in terms of 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

The average underground continuous-action elevator export price stood at $X per unit in 2021, shrinking by -5.2% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2020 an increase of 60%. Over the period under review, the average export prices hit record highs at $X per unit in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Sweden ($X per unit), while the average price for exports to Canada ($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 Australia (+10.5%), while the prices for the other major destinations experienced more modest paces of growth.

Underground Continuous-Action Elevator Imports

Imports into the UK

In 2021, the amount of underground continuous-action elevators and conveyors imported into the UK soared to X units, with an increase of 211% on the previous year. Overall, imports posted a prominent increase. The most prominent rate of growth was recorded in 2019 when imports increased by 1,467%. Imports peaked in 2021 and are likely to see steady growth in years to come.

In value terms, underground continuous-action elevator imports skyrocketed to $X in 2021. In general, imports enjoyed a buoyant increase. The growth pace was the most rapid in 2017 with an increase of 734%. Over the period under review, imports attained the maximum in 2021 and are likely to see gradual growth in the near future.

Imports by Country

In 2021, China (X units) constituted the largest supplier of underground continuous-action elevator to the UK, with a 59% share of total imports. Moreover, underground continuous-action elevator imports from China exceeded the figures recorded by the second-largest supplier, Switzerland (X units), twofold. The third position in this ranking was taken by Germany (X units), with an 8.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +17.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Switzerland (+196.0% per year) and Germany (-2.0% per year).

In value terms, China ($X), Switzerland ($X) and Germany ($X) constituted the largest underground continuous-action elevator suppliers to the UK, with a combined 98% share of total imports.

Switzerland, with a CAGR of +106.6%, 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 underground continuous-action elevator import price stood at $X per unit in 2021, with an increase of 13% against the previous year. Overall, the import price, however, showed a abrupt descent. The most prominent rate of growth was recorded in 2018 when the average import price increased by 76%. Over the period under review, average import prices attained the maximum at $X per unit in 2015; however, from 2016 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+3.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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