Rock Cutter Market

The rock cutter market is projected to decline in both consumption and value over the period from 2022 to 2030, with Sweden being the largest consumer and producer. Germany, China, and the United States are also significant players in the market. Import and export trends, as well as price fluctuations, are highlighted in the article.

Market Forecast

The rock cutter market is expected to start a downward consumption trend over the next eight-year period. The performance of the market is forecast to decrease slightly, with an anticipated CAGR of -4.2% for the eight-year period from 2022 to 2030, which is projected to depress the market volume to 11K units by the end of 2030.

In value terms, the market is forecast to contract with an anticipated CAGR of -6.5% for the period from 2022 to 2030, which is projected to bring the market value to $4.5B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Coal Or Rock Cutters And Tunnelling Machinery

For the third year in a row, the global market recorded growth in consumption of coal or rock cutters and tunnelling machinery, which increased by 277% to 16K units in 2022. Over the period under review, consumption enjoyed a buoyant increase. As a result, consumption reached the peak volume and is likely to continue growth in the immediate term.

The global rock cutter market value surged to $7.7B in 2022, increasing by 775% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption posted a significant expansion. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Consumption By Country

Sweden (13K units) constituted the country with the largest volume of rock cutter consumption, accounting for 78% of total volume. Moreover, rock cutter consumption in Sweden exceeded the figures recorded by the second-largest consumer, Germany (937 units), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume in Sweden amounted to +123.7%. The remaining consuming countries recorded the following average annual rates of consumption growth: Germany (+0.9% per year) and China (+9.4% per year).

In value terms, Sweden ($6.7B) led the market, alone. The second position in the ranking was taken by China ($142M).

From 2012 to 2022, the average annual rate of growth in terms of value in Sweden amounted to +123.0%. The remaining consuming countries recorded the following average annual rates of market growth: China (+8.1% per year) and Germany (-5.5% per year).

From 2012 to 2022, the average annual rate of growth in terms of the rock cutter per capita consumption in Sweden totaled +121.6%. The remaining consuming countries recorded the following average annual rates of per capita consumption growth: Germany (+0.6% per year) and China (+8.9% per year).

Production

World Production of Coal Or Rock Cutters And Tunnelling Machinery

In 2022, production of coal or rock cutters and tunnelling machinery increased by 360% to 16K units, rising for the third year in a row after two years of decline. In general, production posted prominent growth. As a result, production attained the peak volume and is likely to continue growth in the immediate term.

In value terms, rock cutter production expanded to $774M in 2022 estimated in export price. Overall, production, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when the production volume increased by 17% against the previous year. Over the period under review, global production reached the peak level at $821M in 2012; however, from 2013 to 2022, production remained at a lower figure.

Production By Country

Sweden (13K units) constituted the country with the largest volume of rock cutter production, accounting for 78% of total volume. Moreover, rock cutter production in Sweden exceeded the figures recorded by the second-largest producer, Germany (1.6K units), eightfold.

From 2012 to 2022, the average annual rate of growth in terms of volume in Sweden stood at +561.0%. The remaining producing countries recorded the following average annual rates of production growth: Germany (-0.1% per year) and the United States (+40.6% per year).

Imports

World Imports of Coal Or Rock Cutters And Tunnelling Machinery

In 2022, purchases abroad of coal or rock cutters and tunnelling machinery decreased by -18.4% to 2.9K units, falling for the second consecutive year after five years of growth. Over the period under review, imports, however, continue to indicate a noticeable expansion. The pace of growth was the most pronounced in 2018 with an increase of 55%. Over the period under review, global imports hit record highs at 3.5K units in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, rock cutter imports stood at $682M in 2022. In general, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of 19% against the previous year. As a result, imports reached the peak of $754M. From 2020 to 2022, the growth of global imports remained at a somewhat lower figure.

Imports By Country

In 2022, Germany (549 units), China (514 units), the United States (361 units), the UK (241 units), Qatar (216 units), Canada (145 units), Switzerland (101 units), Thailand (81 units), Norway (80 units) and Greece (72 units) represented the major importer of coal or rock cutters and tunnelling machinery in the world, creating 82% of total import.

From 2012 to 2022, the biggest increases were recorded for Greece (with a CAGR of +53.4%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($164M) constitutes the largest market for imported coal or rock cutters and tunnelling machinery worldwide, comprising 24% of global imports. The second position in the ranking was taken by the UK ($72M), with an 11% share of global imports. It was followed by Canada, with a 9.8% share.

In the United States, rock cutter imports expanded at an average annual rate of +6.2% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: 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 $237,031 per unit, increasing by 32% against the previous year. In general, the import price, however, showed a abrupt decline. The growth pace was the most rapid in 2015 an increase of 36%. As a result, import price reached the peak level of $412,428 per unit. From 2016 to 2022, the average import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Norway ($497,237 per unit), while Qatar ($7,329 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Greece (+22.5%), while the other global leaders experienced mixed trends in the import price figures.

Exports

World Exports of Coal Or Rock Cutters And Tunnelling Machinery

In 2022, overseas shipments of coal or rock cutters and tunnelling machinery increased by 2.3% to 2.8K units, rising for the fourth consecutive year after three years of decline. Over the period under review, total exports indicated a perceptible expansion from 2012 to 2022: its volume increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +75.8% against 2018 indices. The most prominent rate of growth was recorded in 2019 when exports increased by 45% against the previous year. The global exports peaked in 2022 and are expected to retain growth in the near future.

In value terms, rock cutter exports stood at $810M in 2022. Overall, exports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2019 with an increase of 43%. Over the period under review, the global exports hit record highs at $893M in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

Exports By Country

Germany represented the major exporting country with an export of about 1.2K units, which reached 44% of total exports. The United States (707 units) held a 25% share (based on physical terms) of total exports, which put it in second place, followed by Saudi Arabia (6.1%) and China (5.2%). Italy (78 units), the UK (70 units) and South Korea (62 units) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Saudi Arabia (with a CAGR of +29.4%), while the other global leaders experienced more modest paces of growth.

In value terms, Germany ($460M) remains the largest rock cutter supplier worldwide, comprising 57% of global exports. The second position in the ranking was taken by Saudi Arabia ($73M), with a 9% share of global exports. It was followed by Italy, with a 4.1% share.

In Germany, rock cutter exports remained relatively stable over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Saudi Arabia (+42.4% per year) and Italy (-5.8% per year).

Export Prices By Country

In 2022, the average rock cutter export price amounted to $289,882 per unit, approximately mirroring the previous year. Overall, the export price, however, recorded a noticeable decrease. The most prominent rate of growth was recorded in 2018 an increase of 7.5% against the previous year. The global export price peaked at $451,538 per unit in 2012; however, from 2013 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 Saudi Arabia ($428,411 per unit), while the United States ($43,135 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+10.1%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform