Asia: Rock Cutter Market 2024

Rock Cutter Market Size in Asia

In 2022, the Asian rock cutter market increased by 1.5% to $X for the first time since 2019, thus ending a two-year declining trend. Overall, consumption saw a abrupt shrinkage. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Rock Cutter Production in Asia

In value terms, rock cutter production amounted to $X in 2022 estimated in export price. Overall, production, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the production volume increased by 22%. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Rock Cutter Exports

Exports in Asia

After three years of growth, overseas shipments of coal or rock cutters and tunnelling machinery decreased by -21.2% to X units in 2022. Over the period under review, exports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 when exports increased by 45%. Over the period under review, the exports attained the peak figure at X units in 2021, and then shrank rapidly in the following year.

In value terms, rock cutter exports fell significantly to $X in 2022. In general, exports showed a slight downturn. The pace of growth appeared the most rapid in 2019 when exports increased by 28%. The level of export peaked at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

In 2022, South Korea (X units), distantly followed by China (X units), the United Arab Emirates (X units), Saudi Arabia (X units) and Oman (X units) were the main exporters of coal or rock cutters and tunnelling machinery, together achieving 88% of total exports. Japan (X units) and Kuwait (X units) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Kuwait (with a CAGR of +26.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest rock cutter supplying countries in Asia were South Korea ($X), China ($X) and the United Arab Emirates ($X), with a combined 75% share of total exports. Saudi Arabia, Japan, Oman and Kuwait lagged somewhat behind, together comprising a further 16%.

Kuwait, with a CAGR of +36.0%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Asia stood at $X per unit in 2022, growing by 3.1% against the previous year. In general, the export price, however, recorded a slight setback. The pace of growth was the most pronounced in 2014 when the export price increased by 14% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2015 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Japan ($X per unit), while Oman ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kuwait (+7.4%), while the other leaders experienced more modest paces of growth.

Rock Cutter Imports

Imports in Asia

In 2022, overseas purchases of coal or rock cutters and tunnelling machinery decreased by -18.1% to X units, falling for the third year in a row after two years of growth. Overall, imports continue to indicate a abrupt decline. The most prominent rate of growth was recorded in 2019 with an increase of 51%. The volume of import peaked at X units in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, rock cutter imports shrank to $X in 2022. In general, imports continue to indicate a abrupt setback. The growth pace was the most rapid in 2019 when imports increased by 66%. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Qatar (X units), distantly followed by China (X units), Turkey (X units), Malaysia (X units), the United Arab Emirates (X units), Iran (X units), Israel (X units) and Thailand (X units) were the major importers of coal or rock cutters and tunnelling machinery, together committing 65% of total imports. The following importers - Oman (X units), Singapore (X units), Indonesia (X units), Hong Kong SAR (X units) and Kuwait (X units) - together made up 17% of total imports.

From 2012 to 2022, the biggest increases were recorded for Qatar (with a CAGR of +33.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constitutes the largest market for imported coal or rock cutters and tunnelling machinery in Asia, comprising 27% of total imports. The second position in the ranking was held by Malaysia ($X), with an 8.4% share of total imports. It was followed by Qatar, with a 7.7% share.

In China, rock cutter imports shrank by an average annual rate of -6.1% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Malaysia (+26.3% per year) and Qatar (+25.8% per year).

Import Prices by Country

In 2022, the import price in Asia amounted to $X per unit, growing by 7.1% against the previous year. Import price indicated a mild increase from 2012 to 2022: its price increased at an average annual rate of +1.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, rock cutter import price increased by +4.8% against 2019 indices. The pace of growth was the most pronounced in 2015 when the import price increased by 49%. As a result, import price reached the peak level of $X per unit. From 2016 to 2022, the import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was China ($X per unit), while Iran ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kuwait (+35.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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