Costa Rica: Self-Propelled Boring Machinery Market 2024

Self-Propelled Boring Machinery Market Size in Costa Rica

The Costa Rican self-propelled boring machinery market reached $X in 2022, rising by 5% against the previous year. Over the period under review, consumption continues to indicate a perceptible curtailment. Self-propelled boring machinery consumption peaked at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Self-Propelled Boring Machinery Production in Costa Rica

In value terms, self-propelled boring machinery production amounted to $X in 2022 estimated in export price. Overall, production saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the production volume decreased by 99.9% against the previous year. Over the period under review, production reached the maximum level in 2022 and is expected to retain growth in the near future.

Self-Propelled Boring Machinery Exports

Exports from Costa Rica

In 2022, approx. X units of self-propelled boring or sinking machinery were exported from Costa Rica; waning by -16.7% against the year before. In general, exports continue to indicate a slight shrinkage. The most prominent rate of growth was recorded in 2015 when exports increased by 40%. Over the period under review, the exports hit record highs at X units in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, self-propelled boring machinery exports fell significantly to $X in 2022. Overall, exports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 when exports increased by 91% against the previous year. Over the period under review, the exports hit record highs at $X in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Guatemala (X units), the United States (X units) and Nicaragua (X units) were the main destinations of self-propelled boring machinery exports from Costa Rica, with a combined 60% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Guatemala (with a CAGR of 0.0%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for self-propelled boring machinery exported from Costa Rica were El Salvador ($X), Guatemala ($X) and Nicaragua ($X), with a combined 70% share of total exports.

Among the main countries of destination, El Salvador, with a CAGR of +11.4%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2022, the average self-propelled boring machinery export price amounted to $X per unit, reducing by -7.3% against the previous year. Overall, the export price, however, saw a modest expansion. The pace of growth was the most pronounced in 2014 an increase of 109%. Over the period under review, the average export prices reached the peak figure 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 destination: amid the top suppliers, the country with the highest price was El Salvador ($X per unit), while the average price for exports to the United States ($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 El Salvador (+11.4%), while the prices for the other major destinations experienced mixed trend patterns.

Self-Propelled Boring Machinery Imports

Imports into Costa Rica

In 2022, self-propelled boring machinery imports into Costa Rica contracted to X units, shrinking by -6.2% on the previous year's figure. In general, imports continue to indicate a perceptible contraction. The most prominent rate of growth was recorded in 2015 with an increase of 69% against the previous year. Over the period under review, imports attained the maximum at X units in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, self-propelled boring machinery imports soared to $X in 2022. Overall, imports continue to indicate a perceptible setback. The most prominent rate of growth was recorded in 2020 with an increase of 358% against the previous year. Over the period under review, imports attained the peak figure at $X in 2015; however, from 2016 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Guatemala (X units) constituted the largest supplier of self-propelled boring machinery to Costa Rica, with a 20% share of total imports. Moreover, self-propelled boring machinery imports from Guatemala exceeded the figures recorded by the second-largest supplier, Mexico (X units), threefold. The third position in this ranking was held by the United States (X units), with a 6.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Guatemala stood at +11.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (-18.8% per year) and the United States (0.0% per year).

In value terms, Guatemala ($X) constituted the largest supplier of self-propelled boring or sinking machinery to Costa Rica, comprising 49% of total imports. The second position in the ranking was held by Panama ($X), with a 12% share of total imports. It was followed by Italy, with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Guatemala amounted to +88.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Panama (+15.7% per year) and Italy (+15.8% per year).

Import Prices by Country

The average self-propelled boring machinery import price stood at $X per unit in 2022, surging by 89% against the previous year. Overall, the import price, however, saw a mild reduction. The most prominent rate of growth was recorded in 2020 an increase of 282%. The import price peaked at $X per unit in 2015; however, from 2016 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Guatemala (+69.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform