Global Rock Cutter Market 2024

Rock Cutter Market Size

The global rock cutter market shrank markedly to $X in 2022, falling by -24.4% against the previous year. Overall, consumption, however, enjoyed a measured expansion. As a result, consumption reached the peak level of $X, and then shrank significantly in the following year.

Rock Cutter Production

In value terms, rock cutter production fell slightly to $X in 2022 estimated in export price. Overall, production recorded a noticeable contraction. The most prominent rate of growth was recorded in 2021 with an increase of 8.8% against the previous year. Global production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Rock Cutter Exports

Exports

In 2022, global exports of coal or rock cutters and tunnelling machinery contracted to X units, shrinking by -7.2% compared with 2021 figures. The total export volume increased at an average annual rate of +1.4% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2019 when exports increased by 54% against the previous year. The global exports peaked at X units in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

In value terms, rock cutter exports dropped to $X in 2022. Over the period under review, exports saw a slight setback. The pace of growth appeared the most rapid in 2019 when exports increased by 46% against the previous year. Over the period under review, the global exports attained the maximum at $X in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

Exports by Country

Germany dominates exports structure, resulting at X units, which was near 58% of total exports in 2022. South Korea (X units) held a 5.8% share (based on physical terms) of total exports, which put it in second place, followed by Sweden (5.1%). Italy (X units), China (X units), the UK (X units), the United States (X units), Canada (X units), the United Arab Emirates (X units) and Greece (X units) took a relatively small share of total exports.

Exports from Germany increased at an average annual rate of +3.9% from 2012 to 2022. At the same time, Sweden (+51.7%), Greece (+30.7%), the United Arab Emirates (+15.0%), China (+6.3%) and the UK (+5.9%) displayed positive paces of growth. Moreover, Sweden emerged as the fastest-growing exporter exported in the world, with a CAGR of +51.7% from 2012-2022. By contrast, Canada (-1.2%), South Korea (-1.9%), Italy (-6.7%) and the United States (-12.7%) illustrated a downward trend over the same period. Germany (+12 p.p.), Sweden (+5 p.p.), the United Arab Emirates (+1.5 p.p.) and Greece (+1.5 p.p.) significantly strengthened its position in terms of the global exports, while South Korea, Italy and the United States saw its share reduced by -2.2%, -5.1% and -7.9% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Germany ($X) remains the largest rock cutter supplier worldwide, comprising 60% of global exports. The second position in the ranking was taken by Sweden ($X), with a 7.2% share of global exports. It was followed by Italy, with a 4.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Germany was relatively modest. In the other countries, the average annual rates were as follows: Sweden (+57.9% per year) and Italy (-5.9% per year).

Export Prices by Country

The average rock cutter export price stood at $X per unit in 2022, growing by 7.7% against the previous year. Over the period under review, the export price, however, continues to indicate a perceptible setback. The most prominent rate of growth was recorded in 2018 when the average export price increased by 9.7% against the previous year. Over the period under review, the average export prices hit record highs at $X per unit in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Greece (+21.2%), while the other global leaders experienced more modest paces of growth.

Rock Cutter Imports

Imports

In 2022, global rock cutter imports reached X units, surging by 13% against the previous year. In general, total imports indicated a noticeable increase from 2012 to 2022: its volume 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, imports increased by +33.9% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 19% against the previous year. Global imports peaked in 2022 and are expected to retain growth in the near future.

In value terms, rock cutter imports skyrocketed to $X in 2022. Overall, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of 23%. Over the period under review, global imports attained the peak figure at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The United States (X units) and Germany (X units) represented the major importers of coal or rock cutters and tunnelling machinery in 2022, finishing at near 22% and 19% of total imports, respectively. The UK (X units) took an 8.9% share (based on physical terms) of total imports, which put it in second place, followed by Canada (5.6%) and Nigeria (4.5%). Switzerland (X units), Italy (X units), Norway (X units) and Qatar (X units) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Nigeria (with a CAGR of +52.6%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($X) constitutes the largest market for imported coal or rock cutters and tunnelling machinery worldwide, comprising 21% of global imports. The second position in the ranking was taken by the UK ($X), with a 9.5% share of global imports. It was followed by Canada, with an 8.8% share.

In the United States, rock cutter imports increased at an average annual rate of +6.2% over the period from 2012-2022. In the other countries, the average annual rates were as follows: the UK (+7.8% per year) and Canada (+18.6% per year).

Import Prices by Country

In 2022, the average rock cutter import price amounted to $X per unit, growing by 4.4% against the previous year. Overall, the import price, however, saw a perceptible slump. The most prominent rate of growth was recorded in 2015 when the average import price increased by 19%. As a result, import price attained the peak level of $X per unit. From 2016 to 2022, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Norway ($X per unit), while Nigeria ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+3.0%), while the other global leaders experienced a decline in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :