Report Update Nov 1, 2024

Ghana - Boring or Sinking Machinery - Market Analysis, Forecast, Size, Trends and Insights

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Ghana: Boring Machinery Market 2024

Boring Machinery Market Size in Ghana

The Ghanian boring machinery market rose remarkably to $X in 2022, increasing by 7.3% against the previous year. Overall, consumption, however, recorded a mild shrinkage. Boring machinery consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Boring Machinery Production in Ghana

In value terms, boring machinery production rose remarkably to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a pronounced setback. The pace of growth was the most pronounced in 2019 with an increase of 61%. Boring machinery production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Boring Machinery Exports

Exports from Ghana

In 2022, shipments abroad of boring or sinking machinery decreased by -5.3% to X units, falling for the second consecutive year after two years of growth. Overall, exports showed a noticeable curtailment. The most prominent rate of growth was recorded in 2019 when exports increased by 200%. The exports peaked at X units in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, boring machinery exports soared to $X in 2022. Over the period under review, exports saw a abrupt contraction. The most prominent rate of growth was recorded in 2019 when exports increased by 462% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

South Africa (X units) was the main destination for boring machinery exports from Ghana, with a approx. 100% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to South Africa stood at +24.6%.

In value terms, South Africa ($X) emerged as the key foreign market for boring or sinking machinery exports from Ghana.

From 2012 to 2022, the average annual growth rate of value to South Africa totaled +37.7%.

Export Prices by Country

In 2022, the average boring machinery export price amounted to $X per unit, growing by 37% against the previous year. Overall, the export price, however, showed a deep downturn. The growth pace was the most rapid in 2016 when the average export price increased by 197% against the previous year. Over the period under review, the average export prices attained the maximum at $X per unit in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for South Africa.

From 2012 to 2022, the rate of growth in terms of prices for Uganda amounted to +4,187.3% per year.

Boring Machinery Imports

Imports into Ghana

In 2022, supplies from abroad of boring or sinking machinery was finally on the rise to reach X units for the first time since 2018, thus ending a three-year declining trend. Over the period under review, imports, however, saw a deep setback. The growth pace was the most rapid in 2015 when imports increased by 194%. Imports peaked at X units in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, boring machinery imports stood at $X in 2022. In general, imports, however, showed a deep slump. The most prominent rate of growth was recorded in 2018 when imports increased by 217%. As a result, imports reached the peak of $X. From 2019 to 2022, the growth of imports failed to regain momentum.

Imports by Country

China (X units), Turkey (X units) and India (X units) were the main suppliers of boring machinery imports to Ghana, with a combined 90% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +27.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, India ($X), Turkey ($X) and China ($X) were the largest boring machinery suppliers to Ghana, with a combined 46% share of total imports.

China, with a CAGR of +17.2%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average boring machinery import price stood at $X per unit in 2022, dropping by -8.1% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 an increase of 68%. As a result, import price reached the peak level of $X per unit. From 2015 to 2022, the average import prices failed to regain momentum.

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 India ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Togo (+17.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for boring or sinking machinery in the world?

The countries with the highest volumes of in 2021 were Spain, Canada and Indonesia, together accounting for 38% of global consumption. Japan, South Africa, Germany, China, Italy, the United Arab Emirates, France, Syrian Arab Republic, Singapore and Nigeria lagged somewhat behind, together comprising a further 34%.

What are the largest producers of boring or sinking machinery in the world?

The countries with the highest volumes of in 2021 were Indonesia, Canada and Spain, together accounting for 37% of global production. Italy, Japan, the United Arab Emirates, Germany, South Africa, the Netherlands, China, Singapore, Syrian Arab Republic and the UK lagged somewhat behind, together comprising a further 42%.

What are the leading suppliers of boring or sinking machinery to Ghana?

In value terms, the largest boring machinery suppliers to Ghana were Australia, Germany and India, together comprising 66% of total imports. These countries were followed by Burkina Faso, Poland, the United States and Benin, which together accounted for a further 23%.

What are the leading importers of boring or sinking machinery from Ghana?

In value terms, Burkina Faso remains the key foreign market for boring machinery exports from Ghana.

What is the average export price for boring or sinking machinery in Ghana?

The average boring machinery export price stood at $2.1 per unit in 2021, with a decrease of -7.4% against the previous year.

What is the average import price for boring or sinking machinery in Ghana?

The average boring machinery import price stood at $11 per unit in 2021, shrinking by -31.2% against the previous year.

This report provides an in-depth analysis of the boring machinery market in Ghana. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 28921255 - Boring or sinking machinery (including fixed platforms used for oil or natural gas exploration) (excluding self-propelled)

Country coverage:

Ghana

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Ghana
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023