ASEAN: Machine-Tool For Drilling Market 2024

Machine-Tool For Drilling Market Size in ASEAN

In 2022, the ASEAN machine-tool for drilling market decreased by -61.9% to $X, falling for the second consecutive year after four years of growth. Overall, consumption continues to indicate a abrupt descent. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Machine-Tool For Drilling Production in ASEAN

In value terms, machine-tool for drilling production declined significantly to $X in 2022 estimated in export price. In general, production continues to indicate a slight slump. The most prominent rate of growth was recorded in 2019 when the production volume increased by 169%. As a result, production attained the peak level of $X. From 2020 to 2022, production growth failed to regain momentum.

Machine-Tool For Drilling Exports

Exports in ASEAN

Machine-tool for drilling exports declined notably to X units in 2022, waning by -40.4% on 2021. Over the period under review, exports, however, saw a slight expansion. The most prominent rate of growth was recorded in 2018 with an increase of 115%. As a result, the exports reached the peak of X units. From 2019 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, machine-tool for drilling exports expanded to $X in 2022. In general, exports saw a abrupt setback. The pace of growth appeared the most rapid in 2014 when exports increased by 50% against the previous year. As a result, the exports attained the peak of $X. From 2015 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Singapore represented the key exporter of machine-tools for drilling, boring or milling metal in ASEAN, with the volume of exports reaching X units, which was approx. 67% of total exports in 2022. Vietnam (X units) took the second position in the ranking, distantly followed by Indonesia (X units) and Thailand (X units). All these countries together held near 30% share of total exports. Malaysia (X units) took a little share of total exports.

Exports from Singapore increased at an average annual rate of +4.4% from 2012 to 2022. At the same time, Vietnam (+8.7%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +8.7% from 2012-2022. By contrast, Malaysia (-1.6%), Indonesia (-6.2%) and Thailand (-8.2%) illustrated a downward trend over the same period. While the share of Singapore (+19 p.p.) and Vietnam (+8.5 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Indonesia (-8.6 p.p.) and Thailand (-9.3 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Singapore ($X) remains the largest machine-tool for drilling supplier in ASEAN, comprising 62% of total exports. The second position in the ranking was held by Vietnam ($X), with a 14% share of total exports. It was followed by Thailand, with an 11% share.

From 2012 to 2022, the average annual growth rate of value in Singapore stood at -5.7%. In the other countries, the average annual rates were as follows: Vietnam (+9.5% per year) and Thailand (-16.9% per year).

Export Prices by Country

The export price in ASEAN stood at $X per unit in 2022, picking up by 73% against the previous year. In general, the export price, however, saw a deep downturn. The growth pace was the most rapid in 2020 when the export price increased by 245% against the previous year. Over the period under review, the export prices hit record highs at $X per unit in 2012; however, from 2013 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 Malaysia ($X per unit), while Indonesia ($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 (+0.7%), while the other leaders experienced a decline in the export price figures.

Machine-Tool For Drilling Imports

Imports in ASEAN

In 2022, approx. X units of machine-tools for drilling, boring or milling metal were imported in ASEAN; waning by -50.9% against the previous year. In general, imports faced a abrupt downturn. The pace of growth was the most pronounced in 2017 when imports increased by 57%. Over the period under review, imports hit record highs at X units in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, machine-tool for drilling imports soared to $X in 2022. Over the period under review, imports saw a deep reduction. The pace of growth was the most pronounced in 2018 when imports increased by 44%. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Thailand represented the key importing country with an import of about X units, which reached 55% of total imports. Cambodia (X units) took the second position in the ranking, followed by Indonesia (X units), Myanmar (X units) and Vietnam (X units). All these countries together held near 38% share of total imports. The following importers - Singapore (X units) and Malaysia (X units) - each accounted for a 4.4% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to machine-tool for drilling imports into Thailand stood at -14.7%. At the same time, Cambodia (+38.3%) displayed positive paces of growth. Moreover, Cambodia emerged as the fastest-growing importer imported in ASEAN, with a CAGR of +38.3% from 2012-2022. Vietnam experienced a relatively flat trend pattern. By contrast, Indonesia (-2.7%), Myanmar (-3.1%), Singapore (-5.7%) and Malaysia (-5.9%) illustrated a downward trend over the same period. While the share of Cambodia (+13 p.p.), Indonesia (+6.2 p.p.), Vietnam (+4.1 p.p.) and Myanmar (+4 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Thailand (-31.9 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Vietnam ($X), Thailand ($X) and Malaysia ($X) constituted the countries with the highest levels of imports in 2022, with a combined 76% share of total imports. Singapore, Indonesia, Cambodia and Myanmar lagged somewhat behind, together comprising a further 21%.

Cambodia, with a CAGR of +10.8%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

In 2022, the import price in ASEAN amounted to $X per unit, surging by 135% against the previous year. Over the period under review, the import price, however, showed a slight descent. The level of import peaked at $X per unit in 2014; however, from 2015 to 2022, 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 ($X per unit), while Myanmar ($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 (+8.0%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform