Myanmar: Rock Cutter Market 2024

Rock Cutter Market Size in Myanmar

In 2022, the Myanmar's rock cutter market decreased by -5.1% to $X, falling for the second consecutive year after two years of growth. Overall, consumption, however, continues to indicate a prominent increase. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market failed to regain momentum.

Rock Cutter Production in Myanmar

In value terms, rock cutter production expanded markedly to $X in 2022 estimated in export price. Over the period under review, the total production indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +5.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -5.0% against 2020 indices. The most prominent rate of growth was recorded in 2015 when the production volume increased by 43%. Rock cutter production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Rock Cutter Exports

Exports from Myanmar

In 2022, rock cutter exports from Myanmar surged to X units, with an increase of 100% compared with the previous year's figure. Overall, exports continue to indicate a relatively flat trend pattern. The exports peaked at X units in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, rock cutter exports declined rapidly to $X in 2022. In general, exports, however, recorded a precipitous descent. The smallest decline of -10% was in 2021. Over the period under review, the exports reached the peak figure at $X in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

Exports by Country

The United States (X units) was the main destination for rock cutter exports from Myanmar, with a approx. 100% share of total exports.

From 2014 to 2022, the average annual rate of growth in terms of volume to the United States was relatively modest.

In value terms, the United States ($X) emerged as the key foreign market for coal or rock cutters and tunnelling machinery exports from Myanmar.

From 2014 to 2022, the average annual growth rate of value to the United States was relatively modest.

Export Prices by Country

In 2022, the average rock cutter export price amounted to $X per unit, with a decrease of -99.6% against the previous year. Over the period under review, the export price faced a dramatic slump. The most prominent rate of growth was recorded in 2021 when the average export price increased by 170%. As a result, the export price attained the peak level of $X per unit, and then declined markedly in the following year.

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

From 2014 to 2022, the rate of growth in terms of prices for the Philippines amounted to +46.7% per year.

Rock Cutter Imports

Imports into Myanmar

In 2022, supplies from abroad of coal or rock cutters and tunnelling machinery decreased by -50.5% to X units, falling for the second consecutive year after two years of growth. In general, imports, however, posted a buoyant expansion. The growth pace was the most rapid in 2013 when imports increased by 490% against the previous year. Imports peaked at X units in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, rock cutter imports reduced slightly to $X in 2022. Overall, imports, however, recorded a remarkable increase. The pace of growth was the most pronounced in 2013 with an increase of 756% against the previous year. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, China (X units) was the main rock cutter supplier to Myanmar, accounting for a 93% share of total imports. Moreover, rock cutter imports from China exceeded the figures recorded by the second-largest supplier, Thailand (X units), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +56.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+11.6% per year) and the United States (0.0% per year).

In value terms, China ($X) constituted the largest supplier of coal or rock cutters and tunnelling machinery to Myanmar, comprising 99% of total imports. The second position in the ranking was taken by Thailand ($X), with a 0.7% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to +97.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+30.4% per year) and the United States (+0.8% per year).

Import Prices by Country

The average rock cutter import price stood at $X per unit in 2022, growing by 93% against the previous year. Over the period under review, import price indicated a measured 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, rock cutter import price increased by +94.4% against 2020 indices. The import price peaked at $X per unit in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+25.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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