Latin America and the Caribbean: Self-Propelled Boring Machinery Market 2024

Self-Propelled Boring Machinery Market Size in Latin America and the Caribbean

In 2022, the Latin American self-propelled boring machinery market increased by 33% to $X, rising for the second year in a row after two years of decline. Overall, consumption, however, continues to indicate a pronounced descent. Over the period under review, the market reached the maximum level at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Self-Propelled Boring Machinery Production in Latin America and the Caribbean

In value terms, self-propelled boring machinery production reached $X in 2022 estimated in export price. Over the period under review, production recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of 14,231% against the previous year. The level of production peaked at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Self-Propelled Boring Machinery Exports

Exports in Latin America and the Caribbean

In 2022, overseas shipments of self-propelled boring or sinking machinery increased by 51% to X units for the first time since 2017, thus ending a four-year declining trend. Overall, exports posted a mild increase. The most prominent rate of growth was recorded in 2015 when exports increased by 9,399% against the previous year. As a result, the exports attained the peak of X units. From 2016 to 2022, the growth of the exports failed to regain momentum.

In value terms, self-propelled boring machinery exports expanded remarkably to $X in 2022. Over the period under review, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 15% against the previous year. The level of export peaked at $X in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Brazil represented the major exporting country with an export of around X units, which finished at 51% of total exports. Peru (X units) took the second position in the ranking, followed by Colombia (X units). All these countries together took approx. 22% share of total exports. Chile (X units), Mexico (X units), Ecuador (X units), Panama (X units) and Honduras (X units) held a minor share of total exports.

From 2012 to 2022, average annual rates of growth with regard to self-propelled boring machinery exports from Brazil stood at +9.1%. At the same time, Colombia (+14.4%), Ecuador (+11.6%), Honduras (+9.6%), Peru (+9.4%) and Panama (+1.6%) displayed positive paces of growth. Moreover, Colombia emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +14.4% from 2012-2022. By contrast, Chile (-12.1%) and Mexico (-15.9%) illustrated a downward trend over the same period. While the share of Brazil (+25 p.p.), Colombia (+7.3 p.p.), Peru (+5.9 p.p.) and Ecuador (+1.8 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Chile (-14.9 p.p.) and Mexico (-23.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Peru ($X) remains the largest self-propelled boring machinery supplier in Latin America and the Caribbean, comprising 40% of total exports. The second position in the ranking was taken by Brazil ($X), with a 20% share of total exports. It was followed by Chile, with a 15% share.

In Peru, self-propelled boring machinery exports expanded at an average annual rate of +12.6% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Brazil (+18.9% per year) and Chile (-10.5% per year).

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per unit, dropping by -24.5% against the previous year. In general, the export price continues to indicate a slight contraction. The growth pace was the most rapid in 2016 when the export price increased by 13,651%. As a result, the export price reached the peak level of $X per unit. From 2017 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Peru ($X per unit), while Mexico ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Panama (+24.8%), while the other leaders experienced more modest paces of growth.

Self-Propelled Boring Machinery Imports

Imports in Latin America and the Caribbean

In 2022, the amount of self-propelled boring or sinking machinery imported in Latin America and the Caribbean skyrocketed to X units, rising by 72% against 2021 figures. Overall, imports, however, continue to indicate a pronounced contraction. The growth pace was the most rapid in 2013 when imports increased by 72%. As a result, imports reached the peak of X units. From 2014 to 2022, the growth of imports remained at a lower figure.

In value terms, self-propelled boring machinery imports rose notably to $X in 2022. In general, imports, however, recorded a abrupt descent. The most prominent rate of growth was recorded in 2018 when imports increased by 25%. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

Mexico (X units) and Brazil (X units) represented roughly 60% of total imports in 2022. It was distantly followed by Chile (X units), Venezuela (X units) and Colombia (X units), together generating a 27% share of total imports. Peru (X units) and Argentina (X units) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Venezuela (with a CAGR of +3.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest self-propelled boring machinery importing markets in Latin America and the Caribbean were Brazil ($X), Chile ($X) and Venezuela ($X), with a combined 64% share of total imports.

Among the main importing countries, Venezuela, with a CAGR of +5.3%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline in the imports figures.

Import Prices by Country

In 2022, the import price in Latin America and the Caribbean amounted to $X per unit, waning by -38.4% against the previous year. Over the period under review, the import price saw a slight reduction. The growth pace was the most rapid in 2015 an increase of 72% against the previous year. The level of import peaked at $X per unit in 2020; however, from 2021 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 Venezuela ($X per unit), while Mexico ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+1.9%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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