Myanmar: Market for Mechanical Shovels, Excavators And Shovel Loaders 2024

Market Size for Mechanical Shovels, Excavators And Shovel Loaders in Myanmar

The Myanmar's mechanical shovel and excavator market reduced remarkably to $X in 2021, shrinking by -31.1% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption saw a drastic downturn. Mechanical shovel and excavator consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Exports of Mechanical Shovels, Excavators And Shovel Loaders

Exports from Myanmar

In 2021, exports of mechanical shovels, excavators and shovel loaders from Myanmar surged to X units, increasing by 40% on 2020. Over the period under review, exports saw a significant increase. The pace of growth was the most pronounced in 2020 when exports increased by 400%. Over the period under review, the exports reached the maximum at X units in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

In value terms, mechanical shovel and excavator exports dropped significantly to $X in 2021. In general, exports enjoyed a significant increase. The growth pace was the most rapid in 2016 with an increase of 1,000%. As a result, the exports attained the peak of $X. From 2017 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

China (X units) was the main destination for mechanical shovel and excavator exports from Myanmar, accounting for a 71% share of total exports. Moreover, mechanical shovel and excavator exports to China exceeded the volume sent to the second major destination, Indonesia (X units), fivefold.

From 2013 to 2021, the average annual growth rate of volume to China stood at +16.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (0.0% per year) and Singapore (0.0% per year).

In value terms, China ($X) remains the key foreign market for mechanical shovels, excavators and shovel loaders exports from Myanmar, comprising 83% of total exports. The second position in the ranking was taken by Indonesia ($X), with a 15% share of total exports. It was followed by Thailand, with a 2.6% share.

From 2013 to 2021, the average annual rate of growth in terms of value to China totaled +139.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (0.0% per year) and Thailand (-0.7% per year).

Export Prices by Country

The average mechanical shovel and excavator export price stood at $X per unit in 2021, with a decrease of -46.1% against the previous year. Overall, the export price, however, enjoyed significant growth. The pace of growth was the most pronounced in 2016 when the average export price increased by 235% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2017 to 2021, 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 China ($X per unit), while the average price for exports to Singapore ($X per unit) was amongst the lowest.

From 2013 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to China (+12.8%), while the prices for the other major destinations experienced a decline.

Imports of Mechanical Shovels, Excavators And Shovel Loaders

Imports into Myanmar

In 2021, the amount of mechanical shovels, excavators and shovel loaders imported into Myanmar contracted remarkably to X units, reducing by -37% on 2020 figures. Over the period under review, imports, however, enjoyed tangible growth. The pace of growth was the most pronounced in 2013 with an increase of 118% against the previous year. Imports peaked at X units in 2017; however, from 2018 to 2021, imports failed to regain momentum.

In value terms, mechanical shovel and excavator imports shrank remarkably to $X in 2021. Overall, imports, however, enjoyed a slight increase. The pace of growth was the most pronounced in 2013 with an increase of 123% against the previous year. As a result, imports reached the peak of $X. From 2014 to 2021, the growth of imports failed to regain momentum.

Imports by Country

China (X units), South Korea (X units) and Singapore (X units) were the main suppliers of mechanical shovel and excavator imports to Myanmar, together comprising 80% of total imports. Japan, Indonesia, Thailand and India lagged somewhat behind, together accounting for a further 18%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by India (with a CAGR of +27.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), South Korea ($X) and Indonesia ($X) constituted the largest mechanical shovel and excavator suppliers to Myanmar, together accounting for 86% of total imports.

Among the main suppliers, Indonesia, with a CAGR of +28.3%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average mechanical shovel and excavator import price amounted to $X per unit, surging by 9.5% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the average import price increased by 117%. Over the period under review, average import prices reached the peak figure at $X per unit in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+6.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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