Eastern Asia: Wood Drilling Machine Market 2024

Wood Drilling Machine Market Size in Eastern Asia

In 2021, the East Asian wood drilling machine market decreased by -33.8% to $X for the first time since 2016, thus ending a four-year rising trend. Overall, consumption, however, enjoyed a prominent expansion. As a result, consumption reached the peak level of $X. From 2014 to 2021, the growth of the market remained at a lower figure.

Wood Drilling Machine Production in Eastern Asia

In value terms, wood drilling machine production shrank slightly to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a strong increase. The pace of growth was the most pronounced in 2016 with an increase of 267% against the previous year. As a result, production reached the peak level of $X. From 2017 to 2021, production growth failed to regain momentum.

Wood Drilling Machine Exports

Exports in Eastern Asia

In 2021, overseas shipments of drilling or morticing machines increased by 47% to X units, rising for the third consecutive year after two years of decline. Over the period under review, exports enjoyed prominent growth. The pace of growth appeared the most rapid in 2019 when exports increased by 62%. The volume of export peaked in 2021 and is likely to continue growth in the immediate term.

In value terms, wood drilling machine exports soared to $X in 2021. In general, exports enjoyed resilient growth. The most prominent rate of growth was recorded in 2019 with an increase of 82%. The level of export peaked in 2021 and is expected to retain growth in the near future.

Exports by Country

In 2021, China (X units) was the main exporter of drilling or morticing machines, comprising 74% of total exports. It was distantly followed by Taiwan (Chinese) (X units), creating a 26% share of total exports.

China was also the fastest-growing in terms of the drilling or morticing machines exports, with a CAGR of +39.9% from 2012 to 2021. At the same time, Taiwan (Chinese) (+18.7%) displayed positive paces of growth. China (+60 p.p.) and Taiwan (Chinese) (+4.3 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest wood drilling machine supplier in Eastern Asia, comprising 49% of total exports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a 21% share of total exports.

From 2012 to 2021, the average annual growth rate of value in China totaled +25.7%.

Export Prices by Country

The export price in Eastern Asia stood at $X per unit in 2021, dropping by -11.9% against the previous year. In general, the export price showed a abrupt contraction. The most prominent rate of growth was recorded in 2013 when the export price increased by 21%. As a result, the export price reached the peak level of $X per unit. From 2014 to 2021, the export prices failed to regain momentum.

Average prices varied noticeably amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Taiwan (Chinese) ($X per unit), while China totaled $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (-10.1%).

Wood Drilling Machine Imports

Imports in Eastern Asia

In 2021, purchases abroad of drilling or morticing machines increased by 153% to X units, rising for the third year in a row after three years of decline. In general, imports recorded a remarkable increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, wood drilling machine imports surged to $X in 2021. Overall, imports, however, saw a slight downturn. The most prominent rate of growth was recorded in 2019 when imports increased by 54% against the previous year. As a result, imports reached the peak of $X. From 2020 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

Taiwan (Chinese) prevails in imports structure, finishing at X units, which was approx. 90% of total imports in 2021. China (X units), Hong Kong SAR (X units), Japan (X units) and South Korea (X units) followed a long way behind the leaders.

Imports into Taiwan (Chinese) increased at an average annual rate of +33.9% from 2012 to 2021. At the same time, Hong Kong SAR (+35.2%) displayed positive paces of growth. Moreover, Hong Kong SAR emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +35.2% from 2012-2021. China experienced a relatively flat trend pattern. By contrast, South Korea (-17.1%) and Japan (-18.7%) illustrated a downward trend over the same period. While the share of Taiwan (Chinese) (+72 p.p.) and Hong Kong SAR (+2.2 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of China (-5.2 p.p.), South Korea (-28.5 p.p.) and Japan (-40.5 p.p.) displayed negative dynamics.

In value terms, Taiwan (Chinese) ($X), Hong Kong SAR ($X) and China ($X) were the countries with the highest levels of imports in 2021, together comprising 91% of total imports.

Among the main importing countries, Taiwan (Chinese), with a CAGR of +17.5%, 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 Eastern Asia stood at $X per unit in 2021, with a decrease of -49.5% against the previous year. In general, the import price faced a abrupt descent. The growth pace was the most rapid in 2016 an increase of 57% against the previous year. The level of import peaked at $X per unit in 2019; however, from 2020 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Hong Kong SAR ($X per unit), while Taiwan (Chinese) ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+16.0%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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