Central Asia: Boring Machinery Market 2024

Boring Machinery Market Size in Central Asia

In 2022, the Central Asian boring machinery market increased by 40% to $X for the first time since 2018, thus ending a three-year declining trend. In general, consumption recorded a slight setback. Over the period under review, the market hit record highs at $X in 2015; however, from 2016 to 2022, consumption stood at a somewhat lower figure.

Boring Machinery Production in Central Asia

In value terms, boring machinery production totaled $X in 2022 estimated in export price. The total production indicated modest growth from 2012 to 2022: its value 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, production decreased by -1.8% against 2018 indices. The pace of growth appeared the most rapid in 2018 with an increase of 96%. Over the period under review, production attained the maximum level at $X in 2013; however, from 2014 to 2022, production remained at a lower figure.

Boring Machinery Exports

Exports in Central Asia

In 2022, approx. X units of boring or sinking machinery were exported in Central Asia; which is down by -23% against the previous year's figure. Overall, exports continue to indicate a abrupt descent. The pace of growth was the most pronounced in 2014 with an increase of 152% against the previous year. As a result, the exports reached the peak of X units. From 2015 to 2022, the growth of the exports failed to regain momentum.

In value terms, boring machinery exports declined notably to $X in 2022. In general, exports saw a perceptible slump. The most prominent rate of growth was recorded in 2021 with an increase of 90%. Over the period under review, the exports hit record highs at $X in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

Exports by Country

In 2022, Tajikistan (X units), Turkmenistan (X units) and Kazakhstan (X units) represented the key exporter of boring or sinking machinery in Central Asia, mixing up 88% of total export. It was distantly followed by Kyrgyzstan (X units), creating a 10% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Kyrgyzstan (with a CAGR of +21.5%), while the other leaders experienced more modest paces of growth.

In value terms, Turkmenistan ($X) remains the largest boring machinery supplier in Central Asia, comprising 60% of total exports. The second position in the ranking was taken by Kazakhstan ($X), with an 18% share of total exports. It was followed by Kyrgyzstan, with an 18% share.

In Turkmenistan, boring machinery exports increased at an average annual rate of +27.0% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Kazakhstan (-9.1% per year) and Kyrgyzstan (+29.9% per year).

Export Prices by Country

The export price in Central Asia stood at $X per unit in 2022, increasing by 8% against the previous year. Over the period under review, the export price posted tangible growth. The growth pace was the most rapid in 2016 an increase of 73% against the previous year. The level of export peaked at $X per unit in 2017; however, from 2018 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Turkmenistan ($X per unit), while Tajikistan ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkmenistan (+5.1%), while the other leaders experienced more modest paces of growth.

Boring Machinery Imports

Imports in Central Asia

In 2022, approx. X units of boring or sinking machinery were imported in Central Asia; with a decrease of -20.8% compared with the previous year. In general, imports continue to indicate a deep downturn. The pace of growth was the most pronounced in 2014 with an increase of 247% against the previous year. Over the period under review, imports attained the maximum at X units in 2015; however, from 2016 to 2022, imports remained at a lower figure.

In value terms, boring machinery imports declined to $X in 2022. Overall, imports continue to indicate a deep slump. The pace of growth appeared the most rapid in 2017 when imports increased by 237% against the previous year. As a result, imports reached the peak of $X. From 2018 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, Kazakhstan (X units) represented the key importer of boring or sinking machinery, generating 60% of total imports. Uzbekistan (X units) ranks second in terms of the total imports with a 24% share, followed by Kyrgyzstan (6.9%) and Tajikistan (4.6%). Mongolia (X units) followed a long way behind the leaders.

Imports into Kazakhstan decreased at an average annual rate of -11.8% from 2012 to 2022. At the same time, Tajikistan (+16.7%) displayed positive paces of growth. Moreover, Tajikistan emerged as the fastest-growing importer imported in Central Asia, with a CAGR of +16.7% from 2012-2022. Kyrgyzstan experienced a relatively flat trend pattern. By contrast, Mongolia (-8.8%) and Uzbekistan (-35.2%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Uzbekistan, Kyrgyzstan and Tajikistan increased by +24, +4.7 and +4.3 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Kazakhstan ($X), Uzbekistan ($X) and Kyrgyzstan ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined 92% share of total imports. Mongolia and Tajikistan lagged somewhat behind, together comprising a further 6.9%.

In terms of the main importing countries, Tajikistan, with a CAGR of +11.1%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in Central Asia stood at $X per unit in 2022, with an increase of 9.6% against the previous year. Import price indicated a slight increase from 2012 to 2022: its price increased at an average annual rate of +1.8% 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 decreased by -14.3% against 2017 indices. The growth pace was the most rapid in 2017 when the import price increased by 97%. As a result, import price reached the peak level of $X per unit. From 2018 to 2022, the import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Uzbekistan ($X per unit), while Kyrgyzstan ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kyrgyzstan (+4.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :