Belgium: Market for Mechanical Shovels, Excavators And Shovel Loaders 2024

Market Size for Mechanical Shovels, Excavators And Shovel Loaders in Belgium

The Belgian mechanical shovel and excavator market shrank to $X in 2022, almost unchanged from the previous year. In general, consumption faced a dramatic downturn. The pace of growth appeared the most rapid in 2021 when the market value increased by X% against the previous year. Mechanical shovel and excavator consumption peaked at $X.9B in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Production of Mechanical Shovels, Excavators And Shovel Loaders in Belgium

In value terms, mechanical shovel and excavator production fell to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a dramatic downturn. The pace of growth was the most pronounced in 2021 with an increase of X%. Over the period under review, production attained the peak level at $X.2B in 2012; however, from 2013 to 2022, production remained at a lower figure.

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Exports of Mechanical Shovels, Excavators And Shovel Loaders

Exports from Belgium

After four years of growth, shipments abroad of mechanical shovels, excavators and shovel loaders decreased by X% to X units in 2022. In general, exports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2019 when exports increased by X%. The exports peaked at X units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, mechanical shovel and excavator exports contracted modestly to $X in 2022. Overall, exports saw a noticeable setback. The growth pace was the most rapid in 2020 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Germany (X units), France (X units) and Italy (X units) were the main destinations of mechanical shovel and excavator exports from Belgium, together comprising X% of total exports. The UK, the Netherlands, the United States, Poland, Spain, Denmark, Romania and Mauritania lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Mauritania (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, France ($X), Germany ($X) and the UK ($X) were the largest markets for mechanical shovel and excavator exported from Belgium worldwide, together accounting for X% of total exports. Italy, the Netherlands, the United States, Spain, Poland, Denmark, Romania and Mauritania lagged somewhat behind, together accounting for a further X%.

In terms of the main countries of destination, Mauritania, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average mechanical shovel and excavator export price amounted to $X per unit, remaining stable against the previous year. In general, the export price, however, continues to indicate a slight decrease. The most prominent rate of growth was recorded in 2020 when the average export price increased by X% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per unit in 2013; however, from 2014 to 2022, 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 the Netherlands ($X per unit), while the average price for exports to the United States ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Spain (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Mechanical Shovels, Excavators And Shovel Loaders

Imports into Belgium

In 2022, imports of mechanical shovels, excavators and shovel loaders into Belgium soared to X units, with an increase of X% on the previous year's figure. In general, imports showed moderate growth. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. Imports peaked in 2022 and are likely to continue growth in the near future.

In value terms, mechanical shovel and excavator imports surged to $X in 2022. Overall, imports recorded prominent growth. The most prominent rate of growth was recorded in 2020 when imports increased by X% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, China (X units) constituted the largest supplier of mechanical shovel and excavator to Belgium, accounting for a X% share of total imports. Moreover, mechanical shovel and excavator imports from China exceeded the figures recorded by the second-largest supplier, South Korea (X units), twofold. Japan (X units) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (X% per year) and Japan (X% per year).

In value terms, the largest mechanical shovel and excavator suppliers to Belgium were China ($X), South Korea ($X) and Japan ($X), with a combined X% share of total imports.

China, with a CAGR of X%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average mechanical shovel and excavator import price amounted to $X per unit, approximately mirroring the previous year. Overall, import price indicated temperate growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, mechanical shovel and excavator import price increased by X% against 2016 indices. The most prominent rate of growth was recorded in 2020 an increase of X%. The import price peaked in 2022 and is expected to retain growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Austria (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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