ASEAN: Wood Drilling Machine Market 2024

Wood Drilling Machine Market Size in ASEAN

The ASEAN wood drilling machine market surged to $X in 2021, increasing by 20% against the previous year. Over the period under review, consumption recorded a buoyant expansion. As a result, consumption reached the peak level of $X. From 2020 to 2021, the growth of the market remained at a somewhat lower figure.

Wood Drilling Machine Production in ASEAN

In value terms, wood drilling machine production declined markedly to $X in 2021 estimated in export price. Overall, production, however, enjoyed a significant expansion. The growth pace was the most rapid in 2016 when the production volume increased by 1,954% against the previous year. The level of production peaked at $X in 2020, and then declined significantly in the following year.

Wood Drilling Machine Exports

Exports in ASEAN

In 2021, shipments abroad of drilling or morticing machines increased by 580% to X units, rising for the second year in a row after three years of decline. In general, exports continue to indicate a resilient expansion. The volume of export peaked at X units in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

In value terms, wood drilling machine exports expanded remarkably to $X in 2021. Over the period under review, exports, however, showed a abrupt decrease. The most prominent rate of growth was recorded in 2018 when exports increased by 29%. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Singapore dominates exports structure, finishing at X units, which was near 88% of total exports in 2021. Thailand (X units) took a 5.5% share (based on physical terms) of total exports, which put it in second place, followed by Malaysia (4.9%).

Singapore was also the fastest-growing in terms of the drilling or morticing machines exports, with a CAGR of +17.2% from 2012 to 2021. Thailand (-4.4%) and Malaysia (-6.4%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Singapore increased by +34 percentage points.

In value terms, Malaysia ($X) emerged as the largest wood drilling machine supplier in ASEAN, comprising 66% of total exports. The second position in the ranking was held by Thailand ($X), with a 12% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in Malaysia totaled -12.2%. In the other countries, the average annual rates were as follows: Thailand (-9.6% per year) and Singapore (-24.6% per year).

Export Prices by Country

The export price in ASEAN stood at $X per unit in 2021, falling by -83.1% against the previous year. Over the period under review, the export price recorded a precipitous decline. The most prominent rate of growth was recorded in 2015 an increase of 398% against the previous year. The level of export peaked at $X per unit in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (-5.5%), while the other leaders experienced a decline in the export price figures.

Wood Drilling Machine Imports

Imports in ASEAN

In 2021, approx. X units of drilling or morticing machines were imported in ASEAN; rising by 121% against the year before. Over the period under review, imports posted a resilient increase. The pace of growth was the most pronounced in 2019 with an increase of 170% against the previous year. The volume of import peaked in 2021 and is likely to continue growth in the near future.

In value terms, wood drilling machine imports soared to $X in 2021. Total imports indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +5.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +90.2% against 2018 indices. The most prominent rate of growth was recorded in 2014 when imports increased by 62%. Over the period under review, imports hit record highs in 2021 and are likely to see steady growth in the immediate term.

Imports by Country

In 2021, Thailand (X units) represented the main importer of drilling or morticing machines, committing 45% of total imports. The Philippines (X units) held a 22% share (based on physical terms) of total imports, which put it in second place, followed by Singapore (22%). The following importers - Malaysia (X units), Vietnam (X units) and Indonesia (X units) - together made up 10% of total imports.

From 2012 to 2021, average annual rates of growth with regard to wood drilling machine imports into Thailand stood at +19.0%. At the same time, the Philippines (+55.1%), Singapore (+15.5%), Indonesia (+8.9%) and Vietnam (+1.6%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing importer imported in ASEAN, with a CAGR of +55.1% from 2012-2021. By contrast, Malaysia (-1.4%) illustrated a downward trend over the same period. The Philippines (+21 p.p.) and Thailand (+7.5 p.p.) significantly strengthened its position in terms of the total imports, while Singapore, Indonesia, Vietnam and Malaysia saw its share reduced by -2.1%, -2.3%, -8.5% and -13.7% from 2012 to 2021, respectively.

In value terms, Vietnam ($X), Thailand ($X) and the Philippines ($X) constituted the countries with the highest levels of imports in 2021, with a combined 76% share of total imports.

Among the main importing countries, the Philippines, with a CAGR of +24.0%, saw 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

The import price in ASEAN stood at $X per unit in 2021, with a decrease of -40.9% against the previous year. In general, the import price recorded a abrupt decrease. The pace of growth was the most pronounced in 2020 an increase of 65%. The level of import peaked at $X per unit in 2015; however, from 2016 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Vietnam ($X per unit), while Singapore ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+5.6%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform