New Zealand: Machine-Tool For Drilling Market 2024

Machine-Tool For Drilling Market Size in New Zealand

In 2022, the New Zealand machine-tool for drilling market increased by 9.6% to $X, rising for the fifth year in a row after two years of decline. Over the period under review, consumption enjoyed a temperate expansion. As a result, consumption reached the peak level of $X. From 2016 to 2022, the growth of the market remained at a lower figure.

Machine-Tool For Drilling Exports

Exports from New Zealand

In 2022, shipments abroad of machine-tools for drilling, boring or milling metal decreased by -29% to X units for the first time since 2019, thus ending a two-year rising trend. Over the period under review, exports continue to indicate a slight decline. The pace of growth was the most pronounced in 2015 when exports increased by 5,884%. As a result, the exports reached the peak of X units. From 2016 to 2022, the growth of the exports failed to regain momentum.

In value terms, machine-tool for drilling exports surged to $X in 2022. In general, exports saw a abrupt curtailment. The pace of growth was the most pronounced in 2015 when exports increased by 159%. As a result, the exports attained the peak of $X. From 2016 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

The UK (X units) was the main destination for machine-tool for drilling exports from New Zealand, accounting for a 54% share of total exports. Moreover, machine-tool for drilling exports to the UK exceeded the volume sent to the second major destination, Peru (X units), twofold. The third position in this ranking was taken by Tonga (X units), with a 12% share.

From 2012 to 2022, the average annual growth rate of volume to the UK totaled +82.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Peru (+67.3% per year) and Tonga (-7.8% per year).

In value terms, Australia ($X), the UK ($X) and Peru ($X) were the largest markets for machine-tool for drilling exported from New Zealand worldwide, with a combined 48% share of total exports.

In terms of the main countries of destination, Peru, with a CAGR of +62.3%, 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 machine-tool for drilling export price amounted to $X per unit, rising by 78% against the previous year. Over the period under review, the export price, however, continues to indicate a pronounced reduction. The most prominent rate of growth was recorded in 2017 an increase of 3,022% against the previous year. The export price peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Australia ($X per unit), while the average price for exports to Tonga ($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 Australia (+20.4%), while the prices for the other major destinations experienced a decline.

Machine-Tool For Drilling Imports

Imports into New Zealand

For the third year in a row, New Zealand recorded growth in overseas purchases of machine-tools for drilling, boring or milling metal, which increased by 0.1% to X units in 2022. In general, imports continue to indicate a resilient increase. The pace of growth was the most pronounced in 2016 with an increase of 67%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, machine-tool for drilling imports reached $X in 2022. The total import value increased at an average annual rate of +2.3% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 when imports increased by 31% against the previous year. Over the period under review, imports reached the maximum in 2022 and are likely to see gradual growth in years to come.

Imports by Country

In 2022, Australia (X units) constituted the largest supplier of machine-tool for drilling to New Zealand, with a 75% share of total imports. Moreover, machine-tool for drilling imports from Australia exceeded the figures recorded by the second-largest supplier, China (X units), eightfold. The UK (X units) ranked third in terms of total imports with a 7.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Australia totaled +46.1%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-10.6% per year) and the UK (-0.8% per year).

In value terms, China ($X) constituted the largest supplier of machine-tools for drilling, boring or milling metal to New Zealand, comprising 37% of total imports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 15% share of total imports. It was followed by Australia, with a 4.3% share.

From 2012 to 2022, the average annual growth rate of value from China amounted to +12.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+1.2% per year) and Australia (-1.7% per year).

Import Prices by Country

In 2022, the average machine-tool for drilling import price amounted to $X per unit, with an increase of 5.5% against the previous year. Overall, the import price, however, showed a pronounced slump. The growth pace was the most rapid in 2017 when the average import price increased by 39% against the previous year. As a result, import price reached the peak level of $X per unit. From 2018 to 2022, the average 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 Germany ($X per unit), while the price for Australia ($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 (+25.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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