Saudi Arabia: Self-Propelled Boring Machinery Market 2024

Self-Propelled Boring Machinery Market Size in Saudi Arabia

The Saudi self-propelled boring machinery market soared to $X in 2022, picking up by 98% 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). In general, consumption, however, faced a abrupt setback. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Self-Propelled Boring Machinery Exports

Exports from Saudi Arabia

In 2021, shipments abroad of self-propelled boring or sinking machinery decreased by 0% to X units for the first time since 2017, thus ending a three-year declining trend. Overall, exports showed perceptible growth. The pace of growth appeared the most rapid in 2015 with an increase of 990% against the previous year. As a result, the exports attained the peak of X units. From 2016 to 2021, the growth of the exports failed to regain momentum.

In value terms, self-propelled boring machinery exports dropped slightly to $X in 2021. Over the period under review, exports continue to indicate a sharp setback. The most prominent rate of growth was recorded in 2015 when exports increased by 338% against the previous year. As a result, the exports reached the peak of $X. From 2016 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Egypt (X units) was the main destination for self-propelled boring machinery exports from Saudi Arabia, accounting for a 433% share of total exports. Moreover, self-propelled boring machinery exports to Egypt exceeded the volume sent to the second major destination, Sudan (X units), threefold. The United States (X units) ranked third in terms of total exports with an 83% share.

From 2014 to 2021, the average annual rate of growth in terms of volume to Egypt stood at +50.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sudan (-61.9% per year) and the United States (-87.6% per year).

In value terms, the UK ($X), Sudan ($X) and the United Arab Emirates ($X) constituted the largest markets for self-propelled boring machinery exported from Saudi Arabia worldwide.

Among the main countries of destination, the UK, with a CAGR of +535.2%, saw the highest growth rate of 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 2021, the average self-propelled boring machinery export price amounted to $X per unit, declining by -2% against the previous year. In general, the export price showed a abrupt decrease. The most prominent rate of growth was recorded in 2017 an increase of 30%. The export price peaked at $X per unit in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the UK ($X per unit), while the average price for exports to the United States ($X per unit) was amongst the lowest.

From 2014 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the UK (+206,201.6%), while the prices for the other major destinations experienced more modest paces of growth.

Self-Propelled Boring Machinery Imports

Imports into Saudi Arabia

Self-propelled boring machinery imports into Saudi Arabia skyrocketed to X units in 2022, with an increase of 106% compared with the year before. Overall, imports, however, recorded a abrupt curtailment. The pace of growth appeared the most rapid in 2019 with an increase of 215% against the previous year. Over the period under review, imports hit record highs at X units in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, self-propelled boring machinery imports soared to $X in 2022. Over the period under review, imports, however, recorded a abrupt decline. The most prominent rate of growth was recorded in 2019 with an increase of 120% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

China (X units), South Korea (X units) and Germany (X units) were the main suppliers of self-propelled boring machinery imports to Saudi Arabia, with a combined 52% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Germany (with a CAGR of +4.5%), while purchases for the other leaders experienced a decline.

In value terms, the largest self-propelled boring machinery suppliers to Saudi Arabia were South Korea ($X), China ($X) and Germany ($X), together accounting for 62% of total imports.

In terms of the main suppliers, China, with a CAGR of -3.7%, 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 a decline.

Import Prices by Country

The average self-propelled boring machinery import price stood at $X per unit in 2022, reducing by -17% against the previous year. In general, the import price recorded a abrupt slump. The pace of growth was the most pronounced in 2021 an increase of 28%. The import price peaked at $X per unit in 2017; however, from 2018 to 2022, 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 South Korea ($X per unit), while the price for the United States ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (-0.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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