Portugal: Boring Machinery Market 2024

Boring Machinery Market Size in Portugal

The Portuguese boring machinery market reduced slightly to $X in 2022, with a decrease of -4.7% against the previous year. Over the period under review, the total consumption indicated a measured expansion from 2012 to 2022: its value 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, consumption decreased by -7.7% against 2019 indices. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Boring Machinery Production in Portugal

In value terms, boring machinery production rose to $X in 2022 estimated in export price. Over the period under review, production, however, recorded resilient growth. The most prominent rate of growth was recorded in 2018 with an increase of 59%. Boring machinery production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Boring Machinery Exports

Exports from Portugal

In 2022, shipments abroad of boring or sinking machinery increased by 93% to X units, rising for the second year in a row after eight years of decline. Overall, exports, however, saw a abrupt setback. Over the period under review, the exports reached the peak figure at X units in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, boring machinery exports skyrocketed to $X in 2022. Over the period under review, exports, however, continue to indicate a abrupt descent. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Brazil (X units) was the main destination for boring machinery exports from Portugal, accounting for a 44% share of total exports. Moreover, boring machinery exports to Brazil exceeded the volume sent to the second major destination, Angola (X units), twofold. Guinea-Bissau (X units) ranked third in terms of total exports with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Brazil stood at +28.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Angola (-18.1% per year) and Guinea-Bissau (+4.1% per year).

In value terms, Brazil ($X) remains the key foreign market for boring or sinking machinery exports from Portugal, comprising 62% of total exports. The second position in the ranking was held by Angola ($X), with an 18% share of total exports. It was followed by India, with a 6.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Brazil totaled +22.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Angola (-18.3% per year) and India (+6.4% per year).

Export Prices by Country

The average boring machinery export price stood at $X per unit in 2022, picking up by 2.1% against the previous year. In general, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 56% against the previous year. The export price peaked at $X per unit in 2020; however, from 2021 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was India ($X per unit), while the average price for exports to the United States ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Uruguay (+11.7%), while the prices for the other major destinations experienced mixed trend patterns.

Boring Machinery Imports

Imports into Portugal

Boring machinery imports into Portugal fell rapidly to X units in 2022, which is down by -50% on 2021 figures. In general, imports recorded a dramatic shrinkage. The pace of growth appeared the most rapid in 2017 with an increase of 210%. Imports peaked at X units in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, boring machinery imports shrank remarkably to $X in 2022. Overall, imports recorded a sharp descent. The growth pace was the most rapid in 2021 with an increase of 221% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, the Netherlands (X units) constituted the largest supplier of boring machinery to Portugal, with a 35% share of total imports. Moreover, boring machinery imports from the Netherlands exceeded the figures recorded by the second-largest supplier, Australia (X units), twofold. The third position in this ranking was held by South Korea (X units), with a 15% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the Netherlands stood at +5.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Australia (0.0% per year) and South Korea (-12.0% per year).

In value terms, Australia ($X), France ($X) and the Netherlands ($X) appeared to be the largest boring machinery suppliers to Portugal, with a combined 76% share of total imports.

In terms of the main suppliers, France, with a CAGR of +21.6%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average boring machinery import price stood at $X per unit in 2022, reducing by -5.3% against the previous year. Overall, the import price, however, showed perceptible growth. The growth pace was the most rapid in 2021 when the average import price increased by 115% against the previous year. The import price peaked at $X per unit in 2019; however, from 2020 to 2022, import prices failed to regain momentum.

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 Australia ($X per unit), while the price for Norway ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+12.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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