Italy: Boring Machinery Market 2024

Boring Machinery Market Size in Italy

In 2022, the Italian boring machinery market decreased by -20.1% to $X, falling for the third year in a row after three years of growth. Overall, consumption, however, recorded a measured increase. Over the period under review, the market reached the peak level at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Boring Machinery Production in Italy

In value terms, boring machinery production reduced remarkably to $X in 2022 estimated in export price. Overall, production, however, recorded significant growth. The pace of growth was the most pronounced in 2013 with an increase of 208% against the previous year. Over the period under review, production hit record highs at $X in 2021, and then reduced markedly in the following year.

Boring Machinery Exports

Exports from Italy

In 2022, approx. X units of boring or sinking machinery were exported from Italy; reducing by -48.8% compared with the previous year's figure. In general, exports, however, showed a slight increase. The most prominent rate of growth was recorded in 2021 when exports increased by 387%. The exports peaked at X units in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, boring machinery exports shrank to $X in 2022. Over the period under review, exports, however, posted a tangible increase. The most prominent rate of growth was recorded in 2013 with an increase of 263% against the previous year. The exports peaked at $X in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

Exports by Country

Russia (X units), India (X units) and the United States (X units) were the main destinations of boring machinery exports from Italy, together accounting for 69% of total exports.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +29.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for boring machinery exported from Italy were Russia ($X), the United States ($X) and India ($X), with a combined 73% share of total exports. Thailand, Israel, Albania, the United Arab Emirates and Oman lagged somewhat behind, together comprising a further 11%.

Among the main countries of destination, Thailand, with a CAGR of +44.3%, 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 average boring machinery export price amounted to $X per unit, jumping by 79% against the previous year. Over the period under review, export price indicated a perceptible expansion from 2012 to 2022: its price 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. Over the period under review, the average export prices hit record highs at $X per unit in 2014; however, from 2015 to 2022, the 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 Oman ($X per unit), while the average price for exports to Albania ($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 Oman (+13.3%), while the prices for the other major destinations experienced more modest paces of growth.

Boring Machinery Imports

Imports into Italy

In 2022, purchases abroad of boring or sinking machinery increased by 270% to X units for the first time since 2019, thus ending a two-year declining trend. In general, imports, however, saw a deep downturn. The most prominent rate of growth was recorded in 2019 with an increase of 354% against the previous year. Over the period under review, imports attained the maximum at X units in 2013; however, from 2014 to 2022, imports remained at a lower figure.

In value terms, boring machinery imports skyrocketed to $X in 2022. Over the period under review, imports, however, continue to indicate a deep downturn. The pace of growth was the most pronounced in 2019 with an increase of 512%. Imports peaked at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Germany (X units), the Netherlands (X units) and France (X units) were the main suppliers of boring machinery imports to Italy, with a combined 61% share of total imports. China, Switzerland, the United States and the Czech Republic lagged somewhat behind, together comprising a further 31%.

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 +33.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), the Netherlands ($X) and the United States ($X) were the largest boring machinery suppliers to Italy, together comprising 54% of total imports. China, France, Switzerland, the Czech Republic and Algeria lagged somewhat behind, together comprising a further 19%.

China, with a CAGR of +27.9%, saw the highest growth rate of the value of imports, among 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 -32.5% against the previous year. Over the period under review, the import price, however, saw a tangible increase. The pace of growth was the most pronounced in 2021 an increase of 114%. As a result, import price attained the peak level of $X per unit, and then declined remarkably in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per unit), while the price for Algeria ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Switzerland (+1.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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