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

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

The Chinese mechanical shovel and excavator market contracted to $X.9B in 2022, waning by X% against the previous year. Overall, consumption showed a deep setback. Mechanical shovel and excavator consumption peaked at $X.6B in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Production of Mechanical Shovels, Excavators And Shovel Loaders in China

In value terms, mechanical shovel and excavator production contracted to $X.2B in 2022 estimated in export price. Overall, production continues to indicate a abrupt descent. The pace of growth was the most pronounced in 2021 when the production volume increased by X%. Mechanical shovel and excavator production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

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Exports of Mechanical Shovels, Excavators And Shovel Loaders

Exports from China

In 2022, overseas shipments of mechanical shovels, excavators and shovel loaders increased by X% to X units, rising for the seventh year in a row after three years of decline. Overall, exports showed a buoyant increase. The most prominent rate of growth was recorded in 2021 when exports increased by X%. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in years to come.

In value terms, mechanical shovel and excavator exports skyrocketed to $X in 2022. In general, exports enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. The exports peaked in 2022 and are expected to retain growth in the near future.

Exports by Country

Russia (X units), Belgium (X units) and the United States (X units) were the main destinations of mechanical shovel and excavator exports from China, together comprising X% of total exports.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for mechanical shovel and excavator exported from China were Russia ($X), Indonesia ($X) and Belgium ($X), together comprising X% of total exports. The United States, Vietnam, Australia, the Philippines, Brazil, Thailand, Germany, India, Argentina and the Netherlands lagged somewhat behind, together accounting for a further X%.

Germany, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, among 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

In 2022, the average mechanical shovel and excavator export price amounted to $X per unit, with an increase of X% against the previous year. In general, the export price, however, showed a pronounced contraction. The most prominent rate of growth was recorded in 2018 when the average export price increased by X% against the previous year. The export price peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Indonesia ($X per unit), while the average price for exports to the Netherlands ($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 Vietnam (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 China

In 2022, overseas purchases of mechanical shovels, excavators and shovel loaders decreased by X% to X units, falling for the fourth year in a row after two years of growth. Overall, imports showed a deep contraction. The pace of growth appeared the most rapid in 2017 with an increase of X% against the previous year. Imports peaked at X units in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, mechanical shovel and excavator imports shrank rapidly to $X in 2022. In general, imports continue to indicate a significant contraction. The growth pace was the most rapid in 2017 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Japan (X units) constituted the largest supplier of mechanical shovel and excavator to China, accounting for a X% share of total imports. Moreover, mechanical shovel and excavator imports from Japan exceeded the figures recorded by the second-largest supplier, the United States (X units), threefold. South Korea (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 Japan totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and South Korea (X% per year).

In value terms, Japan ($X), South Korea ($X) and the United States ($X) appeared to be the largest mechanical shovel and excavator suppliers to China, with a combined X% share of total imports. Sweden, the Czech Republic and Belgium lagged somewhat behind, together comprising a further X%.

Among the main suppliers, the Czech Republic, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2022, the average mechanical shovel and excavator import price amounted to $X per unit, with a decrease of X% against the previous year. In general, the import price saw a abrupt downturn. The most prominent rate of growth was recorded in 2016 when the average import price increased by X%. Over the period under review, average import prices attained the maximum at $X per unit in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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 South Korea ($X per unit), while the price for the Czech Republic ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Czech Republic (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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