India: Self-Propelled Boring Machinery Market 2024

Self-Propelled Boring Machinery Market Size in India

The Indian self-propelled boring machinery market skyrocketed to $X in 2022, surging by 24% against the previous year. Overall, consumption, however, showed significant growth. Self-propelled boring machinery consumption peaked at $X in 2015; however, from 2016 to 2022, consumption failed to regain momentum.

Self-Propelled Boring Machinery Production in India

In value terms, self-propelled boring machinery production contracted markedly to $X in 2022 estimated in export price. Overall, production continues to indicate a deep downturn. The most prominent rate of growth was recorded in 2015 with an increase of 339% against the previous year. As a result, production attained the peak level of $X. From 2016 to 2022, production growth failed to regain momentum.

Self-Propelled Boring Machinery Exports

Exports from India

In 2022, approx. X units of self-propelled boring or sinking machinery were exported from India; waning by -19% compared with 2021. In general, exports continue to indicate a pronounced reduction. The most prominent rate of growth was recorded in 2021 when exports increased by 107%. The exports peaked at X units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, self-propelled boring machinery exports dropped remarkably to $X in 2022. Over the period under review, exports recorded a abrupt setback. The most prominent rate of growth was recorded in 2021 with an increase of 83%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

France (X units), Denmark (X units) and the United States (X units) were the main destinations of self-propelled boring machinery exports from India, together comprising 49% of total exports. Turkmenistan, Singapore, Ecuador, Nepal, Kenya, Maldives, South Africa, Tanzania, the United Arab Emirates and Thailand lagged somewhat behind, together accounting for a further 30%.

From 2012 to 2022, the biggest increases were recorded for Maldives (with a CAGR of +94.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for self-propelled boring machinery exported from India were the United Arab Emirates ($X), Denmark ($X) and Tanzania ($X), with a combined 25% share of total exports. France, Singapore, South Africa, Nepal, Kenya, the United States, Maldives, Ecuador, Turkmenistan and Thailand lagged somewhat behind, together comprising a further 21%.

Maldives, with a CAGR of +84.6%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average self-propelled boring machinery export price stood at $X per unit in 2022, dropping by -16.5% against the previous year. Overall, the export price saw a perceptible descent. The most prominent rate of growth was recorded in 2017 an increase of 123%. As a result, the export price reached the peak level of $X per unit. From 2018 to 2022, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per unit), while the average price for exports to Thailand ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Ecuador (-0.9%), while the prices for the other major destinations experienced a decline.

Self-Propelled Boring Machinery Imports

Imports into India

In 2022, self-propelled boring machinery imports into India shrank notably to X units, with a decrease of -26.7% against the previous year. In general, imports showed a abrupt decline. The pace of growth was the most pronounced in 2016 when imports increased by 118% against the previous year. As a result, imports reached the peak of X units. From 2017 to 2022, the growth of imports remained at a lower figure.

In value terms, self-propelled boring machinery imports skyrocketed to $X in 2022. Overall, imports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when imports increased by 48% against the previous year. As a result, imports reached the peak of $X. From 2019 to 2022, the growth of imports remained at a lower figure.

Imports by Country

China (X units), the United States (X units) and the United Arab Emirates (X units) were the main suppliers of self-propelled boring machinery imports to India, with a combined 83% share of total imports.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +25.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of self-propelled boring or sinking machinery to India, comprising 73% of total imports. The second position in the ranking was taken by Italy ($X), with a 7.2% share of total imports. It was followed by Denmark, with a 3.4% share.

From 2012 to 2022, the average annual growth rate of value from China stood at +21.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-0.3% per year) and Denmark (-0.2% per year).

Import Prices by Country

The average self-propelled boring machinery import price stood at $X per unit in 2022, growing by 70% against the previous year. Overall, the import price recorded prominent growth. The pace of growth appeared the most rapid in 2017 when the average import price increased by 144% against the previous year. The import price peaked in 2022 and is expected to retain growth in the near future.

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 Italy ($X per unit), while the price for the United States ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Oman (+1,398.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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