ASEAN: Rock Cutter Market 2024

Rock Cutter Market Size in ASEAN

The ASEAN rock cutter market reduced rapidly to $X in 2022, dropping by -36.1% against the previous year. In general, consumption faced a abrupt curtailment. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market failed to regain momentum.

Rock Cutter Production in ASEAN

In value terms, rock cutter production stood at $X in 2022 estimated in export price. Overall, production recorded a abrupt contraction. The pace of growth appeared the most rapid in 2016 when the production volume increased by 8.4% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Rock Cutter Exports

Exports in ASEAN

Rock cutter exports contracted notably to X units in 2022, dropping by -51.1% on 2021. In general, exports recorded a deep reduction. The most prominent rate of growth was recorded in 2020 with an increase of 290%. As a result, the exports reached the peak of X units. From 2021 to 2022, the growth of the exports failed to regain momentum.

In value terms, rock cutter exports shrank rapidly to $X in 2022. Over the period under review, exports recorded a deep contraction. The most prominent rate of growth was recorded in 2020 when exports increased by 260%. As a result, the exports attained the peak of $X. From 2021 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Thailand (X units) and Singapore (X units) represented roughly 77% of total exports in 2022. It was distantly followed by Indonesia (X units), mixing up a 10% share of total exports. The following exporters - Malaysia (X units), Vietnam (X units), Myanmar (X units) and Lao People's Democratic Republic (X units) - together made up 12% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Lao People's Democratic Republic (with a CAGR of +7.2%), while the other leaders experienced mixed trends in the exports figures.

In value terms, Thailand ($X), Singapore ($X) and Malaysia ($X) were the countries with the highest levels of exports in 2022, together accounting for 96% of total exports. Vietnam, Lao People's Democratic Republic, Indonesia and Myanmar lagged somewhat behind, together accounting for a further 4.2%.

In terms of the main exporting countries, Lao People's Democratic Republic, with a CAGR of +15.7%, saw 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 export price in ASEAN amounted to $X per unit, jumping by 40% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. Over the period under review, the export prices hit record highs at $X per unit in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Thailand ($X per unit), while Myanmar ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+11.5%), while the other leaders experienced more modest paces of growth.

Rock Cutter Imports

Imports in ASEAN

In 2022, approx. X units of coal or rock cutters and tunnelling machinery were imported in ASEAN; waning by -44.1% against the year before. Over the period under review, imports faced a abrupt downturn. The growth pace was the most rapid in 2019 when imports increased by 187%. As a result, imports reached the peak of X units. From 2020 to 2022, the growth of imports remained at a lower figure.

In value terms, rock cutter imports declined sharply to $X in 2022. Overall, imports faced a abrupt setback. The pace of growth appeared the most rapid in 2019 when imports increased by 182%. As a result, imports reached the peak of $X. From 2020 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, Malaysia (X units), distantly followed by Thailand (X units), Singapore (X units), Indonesia (X units), Vietnam (X units) and Myanmar (X units) represented the main importers of coal or rock cutters and tunnelling machinery, together creating 94% of total imports. Lao People's Democratic Republic (X units) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Malaysia (with a CAGR of +25.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Malaysia ($X) constitutes the largest market for imported coal or rock cutters and tunnelling machinery in ASEAN, comprising 38% of total imports. The second position in the ranking was held by Thailand ($X), with an 18% share of total imports. It was followed by Singapore, with a 17% share.

In Malaysia, rock cutter imports increased at an average annual rate of +26.3% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Thailand (-2.6% per year) and Singapore (-19.3% per year).

Import Prices by Country

In 2022, the import price in ASEAN amounted to $X per unit, increasing by 6.5% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.0%. The most prominent rate of growth was recorded in 2013 an increase of 23%. The level of import peaked in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Malaysia ($X per unit), while Lao People's Democratic Republic ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+3.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform