Cameroon: Self-Propelled Boring Machinery Market 2024

Self-Propelled Boring Machinery Market Size in Cameroon

In 2022, the Cameroonian self-propelled boring machinery market increased by 5.8% to $X, rising for the third year in a row after two years of decline. In general, consumption, however, continues to indicate a relatively flat trend pattern. Over the period under review, the market reached the peak level at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Self-Propelled Boring Machinery Production in Cameroon

In value terms, self-propelled boring machinery production expanded modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.7% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2019 with an increase of 9.7% against the previous year. Self-propelled boring machinery production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Self-Propelled Boring Machinery Exports

Exports from Cameroon

In 2022, shipments abroad of self-propelled boring or sinking machinery decreased by -33.3% to X units, falling for the second year in a row after two years of growth. Over the period under review, exports, however, enjoyed a significant expansion. The pace of growth was the most pronounced in 2019 when exports increased by 933%. Over the period under review, the exports reached the maximum at X units in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, self-propelled boring machinery exports surged to $X in 2022. Overall, exports, however, posted a significant increase. The most prominent rate of growth was recorded in 2019 when exports increased by 174,800% against the previous year. As a result, the exports attained the peak of $X. From 2020 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Congo (X units) was the main destination for self-propelled boring machinery exports from Cameroon, with a 79% share of total exports. Moreover, self-propelled boring machinery exports to Congo exceeded the volume sent to the second major destination, Gabon (X units), more than tenfold. The third position in this ranking was taken by Benin (X units), with a 5.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Congo totaled +40.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Gabon (+7.2% per year) and Benin (0.0% per year).

In value terms, the largest markets for self-propelled boring machinery exported from Cameroon were Germany ($X), Congo ($X) and Belgium ($X), together accounting for 99% of total exports.

In terms of the main countries of destination, Congo, with a CAGR of +57.5%, saw the highest growth rate of the value of exports, 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 self-propelled boring machinery export price amounted to $X per unit, with an increase of 126% against the previous year. Over the period under review, the export price showed a remarkable increase. The most prominent rate of growth was recorded in 2019 when the average export price increased by 16,826%. As a result, the export price attained the peak level of $X per unit. From 2020 to 2022, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per unit), while the average price for exports to Benin ($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 Congo (+12.1%), while the prices for the other major destinations experienced mixed trend patterns.

Self-Propelled Boring Machinery Imports

Imports into Cameroon

In 2022, approx. X units of self-propelled boring or sinking machinery were imported into Cameroon; picking up by 64% against the previous year's figure. Overall, imports enjoyed a resilient expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, self-propelled boring machinery imports rose significantly to $X in 2022. In general, imports saw noticeable growth. The most prominent rate of growth was recorded in 2017 when imports increased by 246%. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Germany (X units) constituted the largest supplier of self-propelled boring machinery to Cameroon, with a 48% share of total imports. Moreover, self-propelled boring machinery imports from Germany exceeded the figures recorded by the second-largest supplier, China (X units), fourfold. India (X units) ranked third in terms of total imports with an 11% share.

From 2012 to 2022, the average annual growth rate of volume from Germany amounted to +41.0%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+14.9% per year) and India (+21.5% per year).

In value terms, the largest self-propelled boring machinery suppliers to Cameroon were India ($X), China ($X) and Belgium ($X), together comprising 54% of total imports. Finland, Germany, Italy, France, Japan, Australia, Ghana, Congo, Canada and Greece lagged somewhat behind, together accounting for a further 36%.

In terms of the main suppliers, Italy, with a CAGR of +28.5%, 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

The average self-propelled boring machinery import price stood at $X per unit in 2022, falling by -31.1% against the previous year. In general, the import price continues to indicate a abrupt curtailment. The most prominent rate of growth was recorded in 2017 an increase of 154% against the previous year. Over the period under review, average import prices attained the peak figure at $X per unit in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+28.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform