Eastern Asia: Self-Propelled Boring Machinery Market 2024

Self-Propelled Boring Machinery Market Size in Eastern Asia

For the third consecutive year, the East Asian self-propelled boring machinery market recorded decline in sales value, which decreased by -95.1% to $X in 2022. In general, consumption faced a significant contraction. Over the period under review, the market reached the peak level at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Self-Propelled Boring Machinery Production in Eastern Asia

In value terms, self-propelled boring machinery production declined slightly to $X in 2022 estimated in export price. In general, production, however, saw a abrupt decrease. The growth pace was the most rapid in 2021 with an increase of 4.8%. The level of production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Self-Propelled Boring Machinery Exports

Exports in Eastern Asia

In 2022, overseas shipments of self-propelled boring or sinking machinery increased by 42% to X units, rising for the second consecutive year after two years of decline. In general, exports recorded a prominent increase. The most prominent rate of growth was recorded in 2018 when exports increased by 46% against the previous year. The volume of export peaked in 2022 and is likely to continue growth in the near future.

In value terms, self-propelled boring machinery exports skyrocketed to $X in 2022. Overall, exports, however, recorded a abrupt decline. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

China prevails in exports structure, reaching X units, which was near 85% of total exports in 2022. Japan (X units) ranks second in terms of the total exports with an 8.3% share, followed by South Korea (6.7%).

China was also the fastest-growing in terms of the self-propelled boring or sinking machinery exports, with a CAGR of +11.5% from 2012 to 2022. At the same time, Japan (+6.0%) displayed positive paces of growth. By contrast, South Korea (-1.4%) illustrated a downward trend over the same period. China (+18 p.p.) significantly strengthened its position in terms of the total exports, while Japan and South Korea saw its share reduced by -2.5% and -11.3% from 2012 to 2022, respectively.

In value terms, China ($X) remains the largest self-propelled boring machinery supplier in Eastern Asia, comprising 84% of total exports. The second position in the ranking was taken by Japan ($X), with an 8.8% share of total exports.

In China, self-propelled boring machinery exports plunged by an average annual rate of -6.0% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Japan (-1.5% per year) and South Korea (-2.0% per year).

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per unit, picking up by 7.4% against the previous year. Overall, the export price, however, showed a abrupt decrease. The most prominent rate of growth was recorded in 2021 when the export price increased by 14%. The level of export peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was South Korea ($X per unit), while China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (-0.5%), while the other leaders experienced a decline in the export price figures.

Self-Propelled Boring Machinery Imports

Imports in Eastern Asia

In 2022, after three years of growth, there was significant decline in supplies from abroad of self-propelled boring or sinking machinery, when their volume decreased by -16.3% to X units. In general, imports saw a noticeable contraction. The most prominent rate of growth was recorded in 2015 when imports increased by 43% against the previous year. As a result, imports reached the peak of X units. From 2016 to 2022, the growth of imports remained at a lower figure.

In value terms, self-propelled boring machinery imports rose modestly to $X in 2022. Over the period under review, imports continue to indicate a abrupt contraction. The growth pace was the most rapid in 2015 when imports increased by 90% against the previous year. As a result, imports attained the peak of $X. From 2016 to 2022, the growth of imports remained at a lower figure.

Imports by Country

Macao SAR (X units) and South Korea (X units) represented roughly 61% of total imports in 2022. China (X units) held a 14% share (based on physical terms) of total imports, which put it in second place, followed by Japan (13%) and Taiwan (Chinese) (8.5%). Hong Kong SAR (X units) held a relatively small share of total imports.

From 2012 to 2022, the biggest increases were recorded for Macao SAR (with a CAGR of +13.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest self-propelled boring machinery importing markets in Eastern Asia were South Korea ($X), China ($X) and Japan ($X), together accounting for 87% of total imports.

South Korea, with a CAGR of +5.3%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Eastern Asia stood at $X per unit in 2022, with an increase of 23% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 an increase of 33% against the previous year. As a result, import price reached the peak level of $X per unit. From 2016 to 2022, the import prices remained at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+2.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :