Eastern Europe: Boring Machinery Market 2024

Boring Machinery Market Size in Eastern Europe

The East European boring machinery market shrank to $X in 2022, which is down by -5.2% against the previous year. Over the period under review, consumption recorded a slight decline. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Boring Machinery Production in Eastern Europe

In value terms, boring machinery production declined to $X in 2022 estimated in export price. Overall, production continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 with an increase of 35%. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Boring Machinery Exports

Exports in Eastern Europe

After three years of growth, shipments abroad of boring or sinking machinery decreased by -30.8% to X units in 2022. Over the period under review, exports saw a perceptible decrease. The most prominent rate of growth was recorded in 2019 when exports increased by 54%. Over the period under review, the exports hit record highs at X units in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, boring machinery exports dropped rapidly to $X in 2022. In general, exports saw a abrupt decline. The pace of growth appeared the most rapid in 2019 with an increase of 36%. The level of export peaked at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

Russia was the main exporter of boring or sinking machinery in Eastern Europe, with the volume of exports recording X units, which was approx. 62% of total exports in 2022. It was distantly followed by Romania (X units) and Poland (X units), together making up a 28% share of total exports. Belarus (X units), the Czech Republic (X units) and Estonia (X units) took a minor share of total exports.

From 2012 to 2022, average annual rates of growth with regard to boring machinery exports from Russia stood at +6.7%. At the same time, Belarus (+21.5%), the Czech Republic (+5.4%) and Romania (+4.4%) displayed positive paces of growth. Moreover, Belarus emerged as the fastest-growing exporter exported in Eastern Europe, with a CAGR of +21.5% from 2012-2022. By contrast, Poland (-14.1%) and Estonia (-18.2%) illustrated a downward trend over the same period. Russia (+38 p.p.), Romania (+8.5 p.p.) and Belarus (+3.8 p.p.) significantly strengthened its position in terms of the total exports, while Estonia and Poland saw its share reduced by -8% and -28% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Russia ($X), Poland ($X) and Romania ($X) appeared to be the countries with the highest levels of exports in 2022, with a combined 85% share of total exports. Belarus, the Czech Republic and Estonia lagged somewhat behind, together comprising a further 12%.

Among the main exporting countries, Belarus, with a CAGR of +11.4%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in Eastern Europe amounted to $X per unit, falling by -17.4% against the previous year. In general, the export price continues to indicate a deep setback. The pace of growth was the most pronounced in 2018 an increase of 52%. Over the period under review, the export prices reached the maximum at $X per unit in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Poland ($X per unit), while Russia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+13.6%), while the other leaders experienced a decline in the export price figures.

Boring Machinery Imports

Imports in Eastern Europe

In 2022, overseas purchases of boring or sinking machinery decreased by -42.2% to X units, falling for the fourth consecutive year after two years of growth. Over the period under review, imports showed a abrupt downturn. The pace of growth was the most pronounced in 2017 with an increase of 143% against the previous year. The volume of import peaked at X units in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, boring machinery imports declined remarkably to $X in 2022. In general, imports recorded a deep reduction. The pace of growth appeared the most rapid in 2017 with an increase of 110% against the previous year. The level of import peaked at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

Russia dominates imports structure, reaching X units, which was near 68% of total imports in 2022. Romania (X units) took the second position in the ranking, followed by Poland (X units). All these countries together took approx. 16% share of total imports. The Czech Republic (X units), Belarus (X units), Hungary (X units) and Bulgaria (X units) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to boring machinery imports into Russia stood at -10.6%. At the same time, Hungary (+12.2%), the Czech Republic (+10.2%) and Belarus (+7.2%) displayed positive paces of growth. Moreover, Hungary emerged as the fastest-growing importer imported in Eastern Europe, with a CAGR of +12.2% from 2012-2022. By contrast, Bulgaria (-5.7%), Romania (-11.5%) and Poland (-26.6%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Russia, the Czech Republic, Belarus, Hungary and Romania increased by +21, +3.6, +3.3, +2.4 and +2.1 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Russia ($X) constitutes the largest market for imported boring or sinking machinery in Eastern Europe, comprising 74% of total imports. The second position in the ranking was held by Romania ($X), with a 7% share of total imports. It was followed by Poland, with a 5.7% share.

In Russia, boring machinery imports shrank by an average annual rate of -10.5% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Romania (-6.7% per year) and Poland (-27.3% per year).

Import Prices by Country

In 2022, the import price in Eastern Europe amounted to $X per unit, increasing by 41% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when the import price increased by 67% against the previous year. Over the period under review, import prices attained the maximum at $X per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat 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 the Czech Republic ($X per unit), while Belarus ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Romania (+5.4%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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