Peru: Self-Propelled Boring Machinery Market 2024

Self-Propelled Boring Machinery Market Size in Peru

The Peruvian self-propelled boring machinery market shrank remarkably to $X in 2022, dropping by -17.8% 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 continues to indicate a perceptible downturn. Over the period under review, the market attained the maximum level at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Self-Propelled Boring Machinery Exports

Exports from Peru

In 2022, self-propelled boring machinery exports from Peru dropped to X units, waning by -13.4% against the previous year. In general, exports, however, posted a strong increase. The most prominent rate of growth was recorded in 2018 with an increase of 116% against the previous year. Over the period under review, the exports attained the maximum at X units in 2021, and then declined in the following year.

In value terms, self-propelled boring machinery exports dropped sharply to $X in 2022. Overall, exports, however, recorded a remarkable increase. The pace of growth appeared the most rapid in 2018 when exports increased by 168% against the previous year. Over the period under review, the exports attained the maximum at $X in 2021, and then contracted dramatically in the following year.

Exports by Country

Mexico (X units) was the main destination for self-propelled boring machinery exports from Peru, accounting for a 46% share of total exports. Moreover, self-propelled boring machinery exports to Mexico exceeded the volume sent to the second major destination, Bolivia (X units), threefold. Chile (X units) ranked third in terms of total exports with a 14% share.

From 2012 to 2022, the average annual growth rate of volume to Mexico amounted to +18.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bolivia (+27.1% per year) and Chile (+2.3% per year).

In value terms, Mexico ($X) remains the key foreign market for self-propelled boring or sinking machinery exports from Peru, comprising 36% of total exports. The second position in the ranking was held by Bolivia ($X), with a 16% share of total exports. It was followed by Chile, with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Mexico stood at +19.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bolivia (+24.8% per year) and Chile (+1.4% per year).

Export Prices by Country

In 2022, the average self-propelled boring machinery export price amounted to $X per unit, dropping by -3% against the previous year. In general, export price indicated measured growth from 2012 to 2022: its price increased at an average annual rate of +2.9% 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 export price decreased by -19.4% against 2019 indices. The pace of growth appeared the most rapid in 2019 when the average export price increased by 28%. As a result, the export price reached the peak level of $X per unit. From 2020 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Brazil ($X per unit), while the average price for exports to Mexico ($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 Ecuador (+8.4%), while the prices for the other major destinations experienced more modest paces of growth.

Self-Propelled Boring Machinery Imports

Imports into Peru

In 2022, imports of self-propelled boring or sinking machinery into Peru dropped significantly to X units, which is down by -17.8% on 2021 figures. Over the period under review, imports, however, saw modest growth. The pace of growth was the most pronounced in 2017 with an increase of 96%. Over the period under review, imports attained the maximum at X units in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, self-propelled boring machinery imports reduced to $X in 2022. In general, imports recorded a pronounced downturn. The pace of growth appeared the most rapid in 2017 with an increase of 79% against the previous year. Over the period under review, imports attained the maximum at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X units) constituted the largest self-propelled boring machinery supplier to Peru, with a 48% share of total imports. Moreover, self-propelled boring machinery imports from China exceeded the figures recorded by the second-largest supplier, Mexico (X units), threefold. The third position in this ranking was taken by the United States (X units), with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +14.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (+43.1% per year) and the United States (-2.0% per year).

In value terms, the United States ($X) constituted the largest supplier of self-propelled boring or sinking machinery to Peru, comprising 48% of total imports. The second position in the ranking was taken by Sweden ($X), with a 21% share of total imports. It was followed by France, with a 9.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States amounted to -2.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Sweden (-4.9% per year) and France (+0.2% per year).

Import Prices by Country

The average self-propelled boring machinery import price stood at $X per unit in 2022, with an increase of 4.4% against the previous year. Over the period under review, the import price, however, showed a perceptible shrinkage. The pace of growth appeared the most rapid in 2019 an increase of 78%. 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 the United States ($X per unit), while the price for Mexico ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+20.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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