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

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

In 2022, the Estonian mechanical shovel and excavator market increased by X% to $X, rising for the second year in a row after two years of decline. Overall, consumption, however, showed a sharp descent. Over the period under review, the market attained the peak level at $X.5B in 2015; however, from 2016 to 2022, consumption stood at a somewhat lower figure.

Exports of Mechanical Shovels, Excavators And Shovel Loaders

Exports from Estonia

In 2022, the amount of mechanical shovels, excavators and shovel loaders exported from Estonia reached X units, with an increase of X% compared with 2021. Over the period under review, exports, however, recorded a deep slump. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. The exports peaked at X units in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, mechanical shovel and excavator exports surged to $X in 2022. Overall, exports, however, faced a deep downturn. The most prominent rate of growth was recorded in 2017 with an increase of X%. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Latvia (X units) was the main destination for mechanical shovel and excavator exports from Estonia, with a X% share of total exports. Moreover, mechanical shovel and excavator exports to Latvia exceeded the volume sent to the second major destination, Lithuania (X units), twofold. The third position in this ranking was held by the Netherlands (X units), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Latvia stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Lithuania (X% per year) and the Netherlands (X% per year).

In value terms, Latvia ($X) remains the key foreign market for mechanical shovels, excavators and shovel loaders exports from Estonia, comprising X% of total exports. The second position in the ranking was taken by Lithuania ($X), with a X% share of total exports. It was followed by Russia, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Latvia stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Lithuania (X% per year) and Russia (X% per year).

Export Prices by Country

The average mechanical shovel and excavator export price stood at $X per unit in 2022, with an increase of X% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2016 an increase of X%. The export price peaked at $X per unit in 2018; however, from 2019 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 Russia ($X per unit), while the average price for exports to the Netherlands ($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 Russia (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 Estonia

In 2022, supplies from abroad of mechanical shovels, excavators and shovel loaders increased by X% to X units, rising for the second year in a row after two years of decline. In general, imports, however, faced a abrupt curtailment. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Imports peaked at X units in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, mechanical shovel and excavator imports totaled $X in 2022. Overall, imports, however, faced a abrupt contraction. The pace of growth appeared the most rapid in 2017 when imports increased by X%. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The UK (X units), Germany (X units) and Belgium (X units) were the main suppliers of mechanical shovel and excavator imports to Estonia, together accounting for X% of total imports. Finland, the Netherlands, France, China and Sweden lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Netherlands (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the UK ($X), Germany ($X) and Finland ($X) appeared to be the largest mechanical shovel and excavator suppliers to Estonia, with a combined X% share of total imports. Belgium, the Netherlands, Sweden, France and China lagged somewhat behind, together comprising a further X%.

In terms of the main suppliers, China, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, 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, declining by X% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when the average import price increased by X%. As a result, import price reached the peak level of $X per unit. From 2017 to 2022, the average import prices failed to regain momentum.

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

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

Source: IndexBox Platform

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