Asia: Self-Propelled Boring Machinery Market 2024

Self-Propelled Boring Machinery Market Size in Asia

The Asian self-propelled boring machinery market dropped markedly to $X in 2022, reducing by -29.7% against the previous year. Over the period under review, consumption saw a abrupt 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

In value terms, self-propelled boring machinery production shrank slightly to $X in 2022 estimated in export price. In general, production continues to indicate a perceptible setback. The growth pace was the most rapid in 2018 with an increase of 70% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2022, production growth failed to regain momentum.

Self-Propelled Boring Machinery Exports

Exports in Asia

In 2022, shipments abroad of self-propelled boring or sinking machinery increased by 14% to X units, rising for the second year in a row after two years of decline. Total exports indicated mild growth from 2012 to 2022: its volume increased at an average annual rate of +1.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +82.2% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 59%. The volume of export peaked in 2022 and is likely to see steady growth in the immediate term.

In value terms, self-propelled boring machinery exports soared to $X in 2022. Over the period under review, exports, however, showed a noticeable descent. The most prominent rate of growth was recorded in 2021 when exports increased by 40% against the previous year. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

China (X units) and India (X units) represented roughly 77% of total exports in 2022. It was distantly followed by Singapore (X units), committing a 12% share of total exports. Japan (X units), South Korea (X units) and Turkey (X units) held a relatively small share of total exports.

From 2012 to 2022, the biggest increases were recorded for Turkey (with a CAGR of +21.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, China ($X) remains the largest self-propelled boring machinery supplier in Asia, comprising 64% of total exports. The second position in the ranking was taken by India ($X), with a 7.9% share of total exports. It was followed by Singapore, with a 7.3% share.

From 2012 to 2022, the average annual growth rate of value in China totaled -6.0%. The remaining exporting countries recorded the following average annual rates of exports growth: India (-6.7% per year) and Singapore (+7.2% per year).

Export Prices by Country

In 2022, the export price in Asia amounted to $X per unit, rising by 21% against the previous year. Overall, the export price, however, recorded a deep slump. Over the period under review, the export prices hit record highs at $X per unit in 2014; however, from 2015 to 2022, the export prices stood at a somewhat 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 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 South Korea (-0.5%), while the other leaders experienced a decline in the export price figures.

Self-Propelled Boring Machinery Imports

Imports in Asia

Self-propelled boring machinery imports shrank rapidly to X units in 2022, reducing by -19.6% against the previous year. Overall, imports continue to indicate a abrupt shrinkage. The most prominent rate of growth was recorded in 2018 when imports increased by 37% against the previous year. Over the period under review, imports attained the maximum at X units in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, self-propelled boring machinery imports expanded significantly to $X in 2022. In general, imports saw a abrupt contraction. The growth pace was the most rapid in 2017 when imports increased by 50%. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

India represented the key importing country with an import of around X units, which accounted for 45% of total imports. Singapore (X units) took the second position in the ranking, followed by Saudi Arabia (X units). All these countries together took approx. 19% share of total imports. Syrian Arab Republic (X units), the Philippines (X units), Indonesia (X units), the United Arab Emirates (X units), Turkey (X units), Malaysia (X units), Iran (X units) and Thailand (X units) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to self-propelled boring machinery imports into India stood at -8.1%. At the same time, Thailand (+7.8%), the Philippines (+5.0%), Indonesia (+3.3%) and Singapore (+1.6%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing importer imported in Asia, with a CAGR of +7.8% from 2012-2022. By contrast, Turkey (-6.3%), Iran (-7.7%), the United Arab Emirates (-10.5%), Malaysia (-13.1%), Syrian Arab Republic (-13.2%) and Saudi Arabia (-13.7%) illustrated a downward trend over the same period. While the share of Singapore (+6.9 p.p.), the Philippines (+2.9 p.p.) and Indonesia (+2.3 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Syrian Arab Republic (-3.9 p.p.), India (-3.9 p.p.) and Saudi Arabia (-7.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported self-propelled boring or sinking machinery in Asia, comprising 24% of total imports. The second position in the ranking was held by Indonesia ($X), with an 11% share of total imports. It was followed by Turkey, with an 8.4% share.

In India, self-propelled boring machinery imports remained relatively stable over the period from 2012-2022. In the other countries, the average annual rates were as follows: Indonesia (+2.9% per year) and Turkey (-4.4% per year).

Import Prices by Country

In 2022, the import price in Asia amounted to $X per unit, increasing by 34% against the previous year. Import price indicated a modest increase from 2012 to 2022: its price increased at an average annual rate of +1.9% 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 +49.5% against 2020 indices. The pace of growth appeared the most rapid in 2017 an increase of 81% against the previous year. The level of import peaked at $X per unit in 2013; however, from 2014 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 Turkey ($X per unit), while Syrian Arab Republic ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+9.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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