Asia-Pacific: Machine-Tool For Drilling Market 2024

Machine-Tool For Drilling Market Size in Asia-Pacific

In 2022, the Asia-Pacific machine-tool for drilling market decreased by -15.6% to $X, falling for the third year in a row after three years of growth. The total consumption indicated modest growth from 2012 to 2022: its value increased at an average annual rate of +1.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -19.4% against 2019 indices. Over the period under review, the market reached the peak level at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Machine-Tool For Drilling Production in Asia-Pacific

In value terms, machine-tool for drilling production shrank to $X in 2022 estimated in export price. Overall, production, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the production volume increased by 25% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Machine-Tool For Drilling Exports

Exports in Asia-Pacific

In 2022, exports of machine-tools for drilling, boring or milling metal in Asia-Pacific reduced dramatically to X units, with a decrease of -17.5% compared with 2021 figures. The total export volume increased at an average annual rate of +1.4% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2018 with an increase of 32%. The volume of export peaked at X units in 2021, and then dropped notably in the following year.

In value terms, machine-tool for drilling exports declined modestly to $X in 2022. Overall, exports continue to indicate a abrupt descent. The pace of growth was the most pronounced in 2021 with an increase of 30% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

China prevails in exports structure, reaching X units, which was near 89% of total exports in 2022. It was distantly followed by Taiwan (Chinese) (X units), achieving a 5.4% share of total exports.

China was also the fastest-growing in terms of the machine-tools for drilling, boring or milling metal exports, with a CAGR of +3.2% from 2012 to 2022. Taiwan (Chinese) experienced a relatively flat trend pattern. From 2012 to 2022, the share of China increased by +14 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) and Taiwan (Chinese) ($X) appeared to be the countries with the highest levels of exports in 2022.

China, with a CAGR of +4.4%, recorded the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review.

Export Prices by Country

In 2022, the export price in Asia-Pacific amounted to $X per unit, picking up by 17% against the previous year. In general, the export price, however, continues to indicate a abrupt downturn. The level of export peaked at $X per unit in 2012; however, from 2013 to 2022, 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 Taiwan (Chinese) ($X per unit), while China totaled $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+1.2%).

Machine-Tool For Drilling Imports

Imports in Asia-Pacific

In 2022, supplies from abroad of machine-tools for drilling, boring or milling metal decreased by -38.6% to X units, falling for the second consecutive year after four years of growth. In general, imports recorded a abrupt descent. The pace of growth appeared the most rapid in 2017 with an increase of 41%. Over the period under review, imports reached the peak figure at X units in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, machine-tool for drilling imports expanded notably to $X in 2022. Overall, imports faced a abrupt setback. The pace of growth was the most pronounced in 2018 when imports increased by 19% against the previous year. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Thailand (X units) was the major importer of machine-tools for drilling, boring or milling metal, making up 34% of total imports. Australia (X units) held a 9.3% share (based on physical terms) of total imports, which put it in second place, followed by India (9.1%), Cambodia (8.3%), Indonesia (6.6%), Nepal (5.9%) and South Korea (4.9%). Myanmar (X units), Vietnam (X units), Sri Lanka (X units) and New Zealand (X units) followed a long way behind the leaders.

Imports into Thailand decreased at an average annual rate of -14.7% from 2012 to 2022. At the same time, Cambodia (+38.3%), Nepal (+20.1%), Sri Lanka (+18.7%), India (+10.5%), New Zealand (+6.5%), South Korea (+5.6%) and Australia (+4.2%) displayed positive paces of growth. Moreover, Cambodia emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +38.3% from 2012-2022. Vietnam experienced a relatively flat trend pattern. By contrast, Indonesia (-2.7%) and Myanmar (-3.1%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Cambodia, India, Australia, Nepal, South Korea, Indonesia, Vietnam, Sri Lanka and Myanmar increased by +8.1, +7.6, +6.4, +5.4, +3.6, +2.5, +1.9, +1.8 and +1.5 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X), Vietnam ($X) and Thailand ($X) constituted the countries with the highest levels of imports in 2022, together accounting for 40% of total imports. South Korea, Australia, Indonesia, New Zealand, Cambodia, Sri Lanka, Nepal and Myanmar lagged somewhat behind, together accounting for a further 17%.

Among the main importing countries, Cambodia, with a CAGR of +10.8%, recorded the highest growth rate of 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 Asia-Pacific stood at $X per unit in 2022, increasing by 71% against the previous year. Over the period under review, the import price, however, recorded a perceptible setback. 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 ($X per unit), while Nepal ($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

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