Asia-Pacific: Rock Cutter Market 2024

Rock Cutter Market Size in Asia-Pacific

In 2022, after two years of decline, there was growth in the Asia-Pacific rock cutter market, when its value increased by 3.6% to $X. Over the period under review, consumption showed a abrupt decline. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Rock Cutter Production in Asia-Pacific

In value terms, rock cutter production totaled $X in 2022 estimated in export price. Over the period under review, production saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when the production volume increased by 37% against the previous year. Over the period under review, production attained the peak level at $X in 2017; however, from 2018 to 2022, production remained at a lower figure.

Rock Cutter Exports

Exports in Asia-Pacific

In 2022, approx. X units of coal or rock cutters and tunnelling machinery were exported in Asia-Pacific; which is down by -17.9% on the previous year. Over the period under review, exports saw a pronounced decrease. The most prominent rate of growth was recorded in 2014 when exports increased by 37% against the previous year. As a result, the exports attained the peak of X units. From 2015 to 2022, the growth of the exports remained at a lower figure.

In value terms, rock cutter exports fell significantly to $X in 2022. Overall, exports recorded a pronounced decrease. The growth pace was the most rapid in 2014 when exports increased by 25%. As a result, the exports reached the peak of $X. From 2015 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

In 2022, South Korea (X units) was the major exporter of coal or rock cutters and tunnelling machinery, mixing up 52% of total exports. China (X units) held a 32% share (based on physical terms) of total exports, which put it in second place, followed by Japan (5.6%). Australia (X units) held a minor share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by China (with a CAGR of +6.3%), while the other leaders experienced a decline in the exports figures.

In value terms, the largest rock cutter supplying countries in Asia-Pacific were South Korea ($X), China ($X) and Japan ($X), with a combined 85% share of total exports.

China, with a CAGR of +1.5%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

The export price in Asia-Pacific stood at $X per unit in 2022, dropping by -3.8% against the previous year. Over the period under review, the export price saw a mild reduction. The growth pace was the most rapid in 2013 when the export price increased by 15%. Over the period under review, the export prices attained the maximum at $X per unit in 2017; however, from 2018 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 Australia ($X per unit), while South Korea ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+1.0%), while the other leaders experienced mixed trends in the export price figures.

Rock Cutter Imports

Imports in Asia-Pacific

In 2022, supplies from abroad of coal or rock cutters and tunnelling machinery decreased by -27% to X units, falling for the third year in a row after two years of growth. Overall, imports showed a abrupt shrinkage. The most prominent rate of growth was recorded in 2019 with an increase of 75%. The volume of import peaked at X units in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, rock cutter imports reduced to $X in 2022. In general, imports saw a abrupt downturn. The most prominent rate of growth was recorded in 2019 with an increase of 54%. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The countries with the highest levels of rock cutter imports in 2022 were China (X units), Malaysia (X units), Australia (X units), Thailand (X units), Singapore (X units), Indonesia (X units), Hong Kong SAR (X units), Vietnam (X units), India (X units), Myanmar (X units), Taiwan (Chinese) (X units) and South Korea (X units), together accounting for 90% of total import.

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, China ($X) constitutes the largest market for imported coal or rock cutters and tunnelling machinery in Asia-Pacific, comprising 43% of total imports. The second position in the ranking was taken by Malaysia ($X), with a 13% share of total imports. It was followed by Australia, with a 12% 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 Australia (-1.3% per year).

Import Prices by Country

The import price in Asia-Pacific stood at $X per unit in 2022, picking up by 33% against the previous year. Over the last decade, it increased at an average annual rate of +4.5%. The most prominent rate of growth was recorded in 2013 an increase of 34% against the previous year. The level of import peaked in 2022 and is likely to see gradual growth in the near future.

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 ($X per unit), while Indonesia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+11.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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