South-Eastern Asia: Boring Machinery Market 2024

Boring Machinery Market Size in South-Eastern Asia

In 2022, the Southeast Asian boring machinery market decreased by -43.7% to $X, falling for the second year in a row after four years of growth. Overall, consumption continues to indicate a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market remained at a lower figure.

Boring Machinery Production in South-Eastern Asia

In value terms, boring machinery production reduced to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a pronounced increase. The most prominent rate of growth was recorded in 2016 with an increase of 146% against the previous year. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Boring Machinery Exports

Exports in South-Eastern Asia

Boring machinery exports surged to X units in 2022, jumping by 35% compared with the previous year. Over the period under review, exports saw strong growth. The pace of growth appeared the most rapid in 2016 when exports increased by 307% against the previous year. As a result, the exports reached the peak of X units. From 2017 to 2022, the growth of the exports remained at a lower figure.

In value terms, boring machinery exports declined to $X in 2022. In general, exports posted a tangible expansion. The growth pace was the most rapid in 2016 when exports increased by 589% against the previous year. As a result, the exports attained the peak of $X. From 2017 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Thailand was the largest exporter of boring or sinking machinery in South-Eastern Asia, with the volume of exports amounting to X units, which was approx. 78% of total exports in 2022. It was distantly followed by Singapore (X units), constituting a 13% share of total exports. The following exporters - Malaysia (X units) and Indonesia (X units) - each amounted to an 8.3% share of total exports.

Thailand was also the fastest-growing in terms of the boring or sinking machinery exports, with a CAGR of +30.7% from 2012 to 2022. At the same time, Malaysia (+12.4%) displayed positive paces of growth. Singapore experienced a relatively flat trend pattern. By contrast, Indonesia (-8.0%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Thailand increased by +61 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest boring machinery supplying countries in South-Eastern Asia were Singapore ($X), Thailand ($X) and Malaysia ($X), with a combined 97% share of total exports.

In terms of the main exporting countries, Malaysia, with a CAGR of +15.1%, recorded 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 export price in South-Eastern Asia amounted to $X per unit, shrinking by -32.5% against the previous year. Over the period under review, the export price continues to indicate a drastic downturn. The most prominent rate of growth was recorded in 2014 when the export price increased by 86% against the previous year. Over the period under review, the export prices reached the maximum at $X per unit in 2016; however, from 2017 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Singapore ($X per unit), while Thailand ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+3.4%), while the other leaders experienced mixed trends in the export price figures.

Boring Machinery Imports

Imports in South-Eastern Asia

In 2022, approx. X units of boring or sinking machinery were imported in South-Eastern Asia; with a decrease of -73% on the previous year's figure. Overall, imports saw a perceptible shrinkage. The growth pace was the most rapid in 2020 when imports increased by 658% against the previous year. As a result, imports attained the peak of X units. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, boring machinery imports shrank remarkably to $X in 2022. In general, imports continue to indicate a abrupt decrease. The growth pace was the most rapid in 2020 with an increase of 67% against the previous year. As a result, imports attained the peak of $X. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, Indonesia (X units), Singapore (X units) and Thailand (X units) was the major importer of boring or sinking machinery in South-Eastern Asia, comprising 69% of total import. Malaysia (X units) ranks next in terms of the total imports with a 12% share, followed by the Philippines (8.4%) and Vietnam (6.1%). Lao People's Democratic Republic (X units) took a relatively small share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Lao People's Democratic Republic (with a CAGR of +10.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X) constitutes the largest market for imported boring or sinking machinery in South-Eastern Asia, comprising 44% of total imports. The second position in the ranking was taken by Malaysia ($X), with a 19% share of total imports. It was followed by Indonesia, with a 10% share.

In Singapore, boring machinery imports plunged by an average annual rate of -8.0% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Malaysia (-6.1% per year) and Indonesia (-13.6% per year).

Import Prices by Country

In 2022, the import price in South-Eastern Asia amounted to $X per unit, reducing by -16.2% against the previous year. Over the period under review, the import price saw a abrupt downturn. The most prominent rate of growth was recorded in 2021 when the import price increased by 168% against the previous year. The level of import peaked at $X per unit in 2019; however, from 2020 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Singapore ($X per unit), while Indonesia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (-0.0%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :