Germany Mining Drilling Services Market Shipment Analysis
Germany Mining Drilling Services Market registered a decline of -77.23% in value shipments in 2022 as compared to 2021 and an increase of 32.19% CAGR in 2022 over a period of 2017. In Mining Drilling Services Market Germany is becoming less competitive as HHI index in 2022 was 1716 while in 2017 it was 1404. Herfindahl Index measures the competitiveness of exporting countries. The range lies from 0 to 10000, where a lower index number represents a larger number of players or exporting countries in the market while a large index number means less numbers of players or countries exporting in the market.
Germany has reportedly relied more on domestic production to meet its growing demand in Mining Drilling Services Market. India is unable to meet its increasing needs of this product with domestic production hence we see the trend is shifting towards import shipment to meet its demand The import factor of Mining Drilling Services Market in 2022 was 0.19 while in 2017 it was 0.12. Austria, USA, China, United Arab Emirates (UAE) and Canada were among the top players of the market in 2022, where Austria acquired the largest market share of 31.68% with a shipment value of 2.51 million USD in 2022 Austria also offered the product below the average market price thus having a competitive advantage over others In 2017 Austria had the largest market share of 26.06% with the shipment value of 1.7 million USD. The country was offering its product with an average price which is lower than the average market price offered in the country. As Austria price is lower than the average price, it provided a significant edge among other competitor in 2017.
