Malaysia: Boring Machinery Market 2024

Boring Machinery Market Size in Malaysia

The Malaysian boring machinery market dropped to $X in 2022, reducing by -7.2% against the previous year. Over the period under review, the total consumption indicated temperate growth from 2012 to 2022: its value increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +8.5% against 2020 indices. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market failed to regain momentum.

Boring Machinery Production in Malaysia

In value terms, boring machinery production reduced to $X in 2022 estimated in export price. In general, production, however, posted a notable expansion. The most prominent rate of growth was recorded in 2018 with an increase of 74%. As a result, production reached the peak level of $X. From 2019 to 2022, production growth failed to regain momentum.

Boring Machinery Exports

Exports from Malaysia

Boring machinery exports from Malaysia declined to X units in 2022, dropping by -13.4% against 2021 figures. Over the period under review, exports, however, enjoyed a prominent increase. The most prominent rate of growth was recorded in 2013 when exports increased by 356%. Over the period under review, the exports reached the peak figure at X units in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, boring machinery exports declined remarkably to $X in 2022. Overall, exports, however, showed a resilient increase. The most prominent rate of growth was recorded in 2013 with an increase of 383%. Over the period under review, the exports reached the peak figure at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

India (X units) was the main destination for boring machinery exports from Malaysia, with a 62% share of total exports. Moreover, boring machinery exports to India exceeded the volume sent to the second major destination, Egypt (X units), fivefold. The UK (X units) ranked third in terms of total exports with a 9.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to India amounted to +26.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Egypt (-20.8% per year) and the UK (+11.3% per year).

In value terms, India ($X) remains the key foreign market for boring or sinking machinery exports from Malaysia, comprising 63% of total exports. The second position in the ranking was held by Egypt ($X), with an 11% share of total exports. It was followed by the UK, with a 9.3% share.

From 2012 to 2022, the average annual growth rate of value to India totaled +83.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Egypt (-27.0% per year) and the UK (+13.7% per year).

Export Prices by Country

In 2022, the average boring machinery export price amounted to $X per unit, falling by -8.8% against the previous year. Overall, export price indicated a moderate increase from 2012 to 2022: its price increased at an average annual rate of +2.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, boring machinery export price increased by +20.5% against 2019 indices. The growth pace was the most rapid in 2016 an increase of 60% against the previous year. The export price peaked at $X per unit in 2021, and then declined in the following year.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the countries with the highest prices were Thailand ($X per unit) and Singapore ($X per unit), while the average price for exports to Egypt ($X per unit) and the UK ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Iraq (+3.1%), while the prices for the other major destinations experienced more modest paces of growth.

Boring Machinery Imports

Imports into Malaysia

In 2022, the amount of boring or sinking machinery imported into Malaysia dropped sharply to X units, shrinking by -28.4% on the previous year's figure. Over the period under review, imports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of 144%. As a result, imports reached the peak of X units, and then reduced rapidly in the following year.

In value terms, boring machinery imports contracted sharply to $X in 2022. Overall, imports recorded a deep slump. The most prominent rate of growth was recorded in 2021 with an increase of 97%. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, the United States (X units) constituted the largest supplier of boring machinery to Malaysia, accounting for a 55% share of total imports. Moreover, boring machinery imports from the United States exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X units), fivefold. Thailand (X units) ranked third in terms of total imports with a 7.2% share.

From 2012 to 2022, the average annual growth rate of volume from the United States stood at +4.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+82.1% per year) and Thailand (+24.1% per year).

In value terms, the United States ($X) constituted the largest supplier of boring or sinking machinery to Malaysia, comprising 60% of total imports. The second position in the ranking was held by Thailand ($X), with a 7.7% share of total imports. It was followed by China, with a 7.3% share.

From 2012 to 2022, the average annual growth rate of value from the United States was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+58.1% per year) and China (-14.8% per year).

Import Prices by Country

The average boring machinery import price stood at $X per unit in 2022, growing by 5.4% against the previous year. In general, the import price, however, continues to indicate a abrupt shrinkage. The growth pace was the most rapid in 2017 when the average import price increased by 7.5% against the previous year. The import price peaked at $X per unit in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (-2.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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