Northern America: Self-Propelled Boring Machinery Market 2024

Self-Propelled Boring Machinery Market Size in Northern America

After three years of growth, the North American self-propelled boring machinery market decreased by -6% to $X in 2022. Overall, consumption, however, showed a strong increase. Over the period under review, the market attained the peak level at $X in 2021, and then reduced in the following year.

Self-Propelled Boring Machinery Production in Northern America

In value terms, self-propelled boring machinery production totaled $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.8% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2014 when the production volume increased by 18% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2022, production growth failed to regain momentum.

Self-Propelled Boring Machinery Exports

Exports in Northern America

In 2022, overseas shipments of self-propelled boring or sinking machinery increased by 25% to X units, rising for the second consecutive year after two years of decline. Over the period under review, exports, however, saw a abrupt downturn. The most prominent rate of growth was recorded in 2017 with an increase of 35%. The volume of export peaked at X units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, self-propelled boring machinery exports surged to $X in 2022. In general, exports, however, showed a abrupt slump. The most prominent rate of growth was recorded in 2017 when exports increased by 51% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United States represented the major exporter of self-propelled boring or sinking machinery in Northern America, with the volume of exports recording X units, which was approx. 88% of total exports in 2022. It was distantly followed by Canada (X units), creating a 12% share of total exports.

Exports from the United States decreased at an average annual rate of -9.0% from 2012 to 2022. Canada (-4.5%) illustrated a downward trend over the same period. While the share of Canada (+4.1 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of the United States (-4.1 p.p.) displayed negative dynamics.

In value terms, the United States ($X) remains the largest self-propelled boring machinery supplier in Northern America, comprising 87% of total exports. The second position in the ranking was held by Canada ($X), with a 13% share of total exports.

In the United States, self-propelled boring machinery exports plunged by an average annual rate of -8.4% over the period from 2012-2022.

Export Prices by Country

The export price in Northern America stood at $X per unit in 2022, falling by -5% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when the export price increased by 18% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2015 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Canada ($X per unit), while the United States totaled $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+0.6%).

Self-Propelled Boring Machinery Imports

Imports in Northern America

Self-propelled boring machinery imports rose rapidly to X units in 2022, growing by 7.9% against the previous year's figure. Over the period under review, imports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 when imports increased by 75%. The volume of import peaked in 2022 and is likely to continue growth in the immediate term.

In value terms, self-propelled boring machinery imports soared to $X in 2022. Total imports indicated a tangible increase from 2012 to 2022: its value increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +84.1% against 2016 indices. The most prominent rate of growth was recorded in 2021 with an increase of 33%. Over the period under review, imports attained the maximum in 2022 and are likely to continue growth in the immediate term.

Imports by Country

Canada (X units) and the United States (X units) represented roughly 100% of total imports in 2022.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by the United States (with a CAGR of +3.4%).

In value terms, the largest self-propelled boring machinery importing markets in Northern America were the United States ($X) and Canada ($X).

The United States, with a CAGR of +6.7%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review.

Import Prices by Country

In 2022, the import price in Northern America amounted to $X per unit, growing by 14% against the previous year. Import price indicated measured growth from 2012 to 2022: its price increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, self-propelled boring machinery import price increased by +24.1% against 2019 indices. The pace of growth appeared the most rapid in 2013 when the import price increased by 41%. Over the period under review, import prices attained the peak figure at $X per unit in 2015; however, from 2016 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the United States ($X per unit), while Canada stood at $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+3.2%).

Source: IndexBox Platform

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