Australia: Boring Machinery Market 2024

Boring Machinery Market Size in Australia

The Australian boring machinery market declined slightly to $X in 2022, approximately mirroring the previous year. Over the period under review, consumption saw a mild shrinkage. Over the period under review, the market reached the peak level at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Boring Machinery Production in Australia

In value terms, boring machinery production expanded slightly to $X in 2022 estimated in export price. Over the period under review, the total production indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +10.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -3.4% against 2020 indices. The most prominent rate of growth was recorded in 2013 with an increase of 152% against the previous year. Over the period under review, production reached the peak level at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

Boring Machinery Exports

Exports from Australia

Boring machinery exports from Australia fell modestly to X units in 2022, flattening at the year before. In general, exports continue to indicate a drastic downturn. The most prominent rate of growth was recorded in 2014 when exports increased by 350% against the previous year. As a result, the exports reached the peak of X units. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, boring machinery exports reduced remarkably to $X in 2022. Overall, exports faced a abrupt curtailment. The most prominent rate of growth was recorded in 2014 when exports increased by 236%. As a result, the exports attained the peak of $X. From 2015 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

South Africa (X units), Portugal (X units) and Chile (X units) were the main destinations of boring machinery exports from Australia, with a combined 66% share of total exports.

From 2012 to 2022, the biggest increases were recorded for South Africa (with a CAGR of +7.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for boring machinery exported from Australia were Portugal ($X), Japan ($X) and Chile ($X), together accounting for 46% of total exports.

Chile, with a CAGR of +22.9%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average boring machinery export price amounted to $X per unit, declining by -19.4% against the previous year. Over the period under review, the export price, however, posted mild growth. The pace of growth was the most pronounced in 2018 when the average export price increased by 50%. The export price peaked at $X per unit in 2021, and then declined notably in the following year.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Singapore ($X per unit), while the average price for exports to South Africa ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Portugal (+17.3%), while the prices for the other major destinations experienced more modest paces of growth.

Boring Machinery Imports

Imports into Australia

Boring machinery imports into Australia dropped markedly to X units in 2022, declining by -38.7% on the previous year. In general, imports recorded a sharp setback. The most prominent rate of growth was recorded in 2021 when imports increased by 40%. Imports peaked at X units in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, boring machinery imports contracted notably to $X in 2022. Over the period under review, imports faced a sharp shrinkage. The most prominent rate of growth was recorded in 2021 when imports increased by 58% against the previous year. 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

Finland (X units), the United States (X units) and China (X units) were the main suppliers of boring machinery imports to Australia, together accounting for 63% of total imports.

From 2012 to 2022, the biggest increases were recorded for Finland (with a CAGR of +32.8%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, the United States ($X), China ($X) and Finland ($X) appeared to be the largest boring machinery suppliers to Australia, with a combined 65% share of total imports.

Among the main suppliers, Finland, with a CAGR of +12.7%, recorded the highest rates of growth with regard to 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

In 2022, the average boring machinery import price amounted to $X per unit, jumping by 27% against the previous year. In general, import price indicated a resilient expansion from 2012 to 2022: its price increased at an average annual rate of +5.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, boring machinery import price increased by +133.2% against 2016 indices. The most prominent rate of growth was recorded in 2017 when the average import price increased by 28% against the previous year. The import price peaked in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the UK ($X per unit), while the price for Poland ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+25.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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