Eastern Asia: Machine-Tool For Drilling Market 2024

Machine-Tool For Drilling Market Size in Eastern Asia

After two years of decline, the East Asian machine-tool for drilling market increased by 1.8% to $X in 2022. The total consumption indicated a noticeable increase from 2012 to 2022: its value increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -8.5% against 2019 indices. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Machine-Tool For Drilling Production in Eastern Asia

In value terms, machine-tool for drilling production declined to $X in 2022 estimated in export price. Overall, production saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of 26% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2022, production growth remained at a somewhat lower figure.

Machine-Tool For Drilling Exports

Exports in Eastern Asia

In 2022, machine-tool for drilling exports in Eastern Asia shrank significantly to X units, which is down by -16.6% against the year before. The total export volume increased at an average annual rate of +2.8% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 when exports increased by 30%. Over the period under review, the exports hit record highs at X units in 2021, and then fell markedly in the following year.

In value terms, machine-tool for drilling exports dropped to $X in 2022. Overall, exports showed a abrupt contraction. The pace of growth appeared the most rapid in 2021 with an increase of 32%. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

China dominates exports structure, resulting at X units, which was approx. 93% of total exports in 2022. It was distantly followed by Taiwan (Chinese) (X units), creating a 5.6% share of total exports.

China was also the fastest-growing in terms of the machine-tools for drilling, boring or milling metal exports, with a CAGR of +3.2% from 2012 to 2022. Taiwan (Chinese) experienced a relatively flat trend pattern. China (+3.6 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 ($X) and Taiwan (Chinese) ($X) appeared to be the countries with the highest levels of exports in 2022.

Among the main exporting countries, China, with a CAGR of +4.4%, recorded the highest rates of growth with regard to the value of exports, over the period under review.

Export Prices by Country

The export price in Eastern Asia stood at $X per unit in 2022, rising by 16% against the previous year. In general, the export price, however, recorded a deep slump. The level of export peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Taiwan (Chinese) ($X per unit), while China stood at $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+1.2%).

Machine-Tool For Drilling Imports

Imports in Eastern Asia

In 2022, approx. X units of machine-tools for drilling, boring or milling metal were imported in Eastern Asia; shrinking by -15.4% against the previous year's figure. Total imports indicated moderate growth from 2012 to 2022: its volume increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -17.9% against 2019 indices. The pace of growth appeared the most rapid in 2018 when imports increased by 37%. The volume of import peaked at X units in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, machine-tool for drilling imports shrank to $X in 2022. Overall, imports saw a deep downturn. The most prominent rate of growth was recorded in 2017 with an increase of 12% against the previous year. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, South Korea (X units) represented the major importer of machine-tools for drilling, boring or milling metal, making up 62% of total imports. Taiwan (Chinese) (X units) held a 17% share (based on physical terms) of total imports, which put it in second place, followed by China (10%) and Japan (8.7%). Hong Kong SAR (X units) followed a long way behind the leaders.

Imports into South Korea increased at an average annual rate of +5.6% from 2012 to 2022. At the same time, Taiwan (Chinese) (+5.6%) and Japan (+5.1%) displayed positive paces of growth. Moreover, Taiwan (Chinese) emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +5.6% from 2012-2022. By contrast, China (-8.0%) and Hong Kong SAR (-10.5%) illustrated a downward trend over the same period. From 2012 to 2022, the share of South Korea, Taiwan (Chinese) and Japan increased by +18, +4.8 and +2.2 percentage points, respectively.

In value terms, China ($X) constitutes the largest market for imported machine-tools for drilling, boring or milling metal in Eastern Asia, comprising 68% of total imports. The second position in the ranking was held by South Korea ($X), with a 16% share of total imports. It was followed by Taiwan (Chinese), with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of value in China amounted to -12.9%. In the other countries, the average annual rates were as follows: South Korea (-7.1% per year) and Taiwan (Chinese) (-6.2% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per unit in 2022, picking up by 3.6% against the previous year. Over the period under review, the import price, however, continues to indicate a drastic downturn. The pace of growth was the most pronounced in 2017 an increase of 38%. The level of import peaked at $X per unit in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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 China ($X per unit), while South Korea ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (-5.4%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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