Italy Mining Drilling Services Market Shipment Analysis
Italy Mining Drilling Services Market registered a growth of 149.38% in value shipments in 2022 as compared to 2021 and a decrease of -14.98% CAGR in 2022 over a period of 2017. In Mining Drilling Services Market Italy is becoming more competitive as the HHI index in 2022 was 1419 while in 2017 it was 4720. 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.
Italy has reportedly relied more on domestic production to meet its growing demand in Mining Drilling Services Market. India is shifting towards local production to meet its demand as we see the trend is shifting towards reducing imports. The import factor of Mining Drilling Services Market in 2022 was 0.14 while in 2017 it was 0.33. Germany, Netherlands, Mexico, USA and China were among the top players of the market in 2022, where Germany acquired the largest market share of 25.29% with a shipment value of 2.06 million USD in 2022 Germany also offered the product below the average market price thus having a competitive advantage over others In 2017 Netherlands had the largest market share of 67.56% with the shipment value of 5.84 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 Netherlands price is lower than the average price, it provided a significant edge among other competitor in 2017.
