Asia-Pacific: Self-Propelled Boring Machinery Market 2024

Self-Propelled Boring Machinery Market Size in Asia-Pacific

The Asia-Pacific self-propelled boring machinery market contracted sharply to $X in 2022, with a decrease of -26.7% against the previous year. Overall, consumption showed a pronounced decline. The level of consumption peaked at $X in 2015; however, from 2016 to 2022, consumption remained at a lower figure.

Self-Propelled Boring Machinery Production in Asia-Pacific

In value terms, self-propelled boring machinery production reduced slightly to $X in 2022 estimated in export price. Overall, production saw a perceptible downturn. The pace of growth appeared the most rapid in 2019 when the production volume increased by 4.2% against the previous year. Over the period under review, production reached the peak level at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

Self-Propelled Boring Machinery Exports

Exports in Asia-Pacific

In 2022, overseas shipments of self-propelled boring or sinking machinery increased by 15% to X units, rising for the second year in a row after two years of decline. Overall, exports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2018 when exports increased by 49%. Over the period under review, the exports attained the maximum in 2022 and are likely to continue growth in years to come.

In value terms, self-propelled boring machinery exports skyrocketed to $X in 2022. In general, exports, however, saw a abrupt curtailment. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

China (X units) and India (X units) represented roughly 78% of total exports in 2022. It was distantly followed by Singapore (X units), constituting a 12% share of total exports. The following exporters - Japan (X units), South Korea (X units) and Australia (X units) - together made up 9.3% of total exports.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +11.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, China ($X) remains the largest self-propelled boring machinery supplier in Asia-Pacific, comprising 68% of total exports. The second position in the ranking was taken by India ($X), with an 8.4% share of total exports. It was followed by Singapore, with a 7.7% share.

In China, self-propelled boring machinery exports shrank by an average annual rate of -6.0% over the period from 2012-2022. In the other countries, the average annual rates were as follows: India (-6.7% per year) and Singapore (+7.2% per year).

Export Prices by Country

In 2022, the export price in Asia-Pacific amounted to $X per unit, surging by 23% against the previous year. Overall, the export price, however, recorded a abrupt descent. Over the period under review, the export prices reached the maximum at $X per unit in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

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 South Korea ($X per unit), while India ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+5.0%), while the other leaders experienced a decline in the export price figures.

Self-Propelled Boring Machinery Imports

Imports in Asia-Pacific

In 2022, approx. X units of self-propelled boring or sinking machinery were imported in Asia-Pacific; with a decrease of -23.2% compared with 2021. Over the period under review, imports showed a abrupt contraction. The most prominent rate of growth was recorded in 2018 when imports increased by 56% against the previous year. The volume of import peaked at X units in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, self-propelled boring machinery imports expanded rapidly to $X in 2022. Overall, imports continue to indicate a mild slump. The most prominent rate of growth was recorded in 2017 with an increase of 33%. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

India represented the major importer of self-propelled boring or sinking machinery in Asia-Pacific, with the volume of imports accounting for X units, which was approx. 55% of total imports in 2022. Singapore (X units) took the second position in the ranking, distantly followed by Australia (X units) and the Philippines (X units). All these countries together took approx. 25% share of total imports. Indonesia (X units), New Zealand (X units) and Malaysia (X units) took a relatively small share of total imports.

Imports into India decreased at an average annual rate of -8.1% from 2012 to 2022. At the same time, the Philippines (+5.0%), Indonesia (+3.3%) and Singapore (+1.6%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +5.0% from 2012-2022. Australia experienced a relatively flat trend pattern. By contrast, Malaysia (-13.1%) and New Zealand (-18.5%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Singapore, the Philippines, Australia and Indonesia increased by +7.7, +3.4, +2.9 and +2.6 percentage points, respectively.

In value terms, the largest self-propelled boring machinery importing markets in Asia-Pacific were Australia ($X), India ($X) and Indonesia ($X), together comprising 71% of total imports.

Indonesia, with a CAGR of +2.9%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries 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, with an increase of 46% against the previous year. Import price indicated a measured expansion from 2012 to 2022: its price increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, self-propelled boring machinery import price increased by +140.1% against 2016 indices. The growth pace was the most rapid in 2017 when the import price increased by 76%. The level of import peaked in 2022 and is expected to retain growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by New Zealand (+15.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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