Southern Asia: Boring Machinery Market 2024

Boring Machinery Market Size in Southern Asia

The South Asian boring machinery market declined slightly to $X in 2022, dropping by -2.8% against the previous year. Over the period under review, consumption, however, saw a strong increase. Over the period under review, the market attained the maximum level at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Boring Machinery Production in Southern Asia

In value terms, boring machinery production fell slightly to $X in 2022 estimated in export price. Overall, production, however, posted a buoyant expansion. The most prominent rate of growth was recorded in 2018 with an increase of 30%. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Boring Machinery Exports

Exports in Southern Asia

In 2022, shipments abroad of boring or sinking machinery decreased by -28.5% to X units, falling for the third consecutive year after two years of growth. Overall, exports showed a abrupt decline. The pace of growth was the most pronounced in 2019 when exports increased by 58%. As a result, the exports attained the peak of X units. From 2020 to 2022, the growth of the exports remained at a lower figure.

In value terms, boring machinery exports fell dramatically to $X in 2022. Over the period under review, exports continue to indicate a abrupt curtailment. The growth pace was the most rapid in 2019 when exports increased by 81% against the previous year. As a result, the exports reached the peak of $X. From 2020 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

India dominates exports structure, amounting to X units, which was approx. 86% of total exports in 2022. Bangladesh (X units) took the second position in the ranking, followed by Sri Lanka (X units). All these countries together took approx. 10% share of total exports. The following exporters - Afghanistan (X units) and Pakistan (X units) - each amounted to a 4.1% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to boring machinery exports from India stood at -11.0%. At the same time, Bangladesh (+17.5%) displayed positive paces of growth. Moreover, Bangladesh emerged as the fastest-growing exporter exported in Southern Asia, with a CAGR of +17.5% from 2012-2022. Afghanistan experienced a relatively flat trend pattern. By contrast, Sri Lanka (-13.8%) and Pakistan (-16.4%) illustrated a downward trend over the same period. Bangladesh (+4.8 p.p.) significantly strengthened its position in terms of the total exports, while India, Pakistan and Sri Lanka saw its share reduced by -1.9%, -1.9% and -2.1% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) remains the largest boring machinery supplier in Southern Asia, comprising 86% of total exports. The second position in the ranking was taken by Pakistan ($X), with a 7.3% share of total exports. It was followed by Sri Lanka, with a 3.9% share.

From 2012 to 2022, the average annual growth rate of value in India totaled -13.8%. In the other countries, the average annual rates were as follows: Pakistan (-3.6% per year) and Sri Lanka (-14.3% per year).

Export Prices by Country

In 2022, the export price in Southern Asia amounted to $X per unit, surging by 6% against the previous year. Over the period under review, the export price, however, saw a perceptible descent. The most prominent rate of growth was recorded in 2019 when the export price increased by 15%. The level of export peaked at $X per unit in 2017; however, from 2018 to 2022, the export prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Pakistan (+14.7%), while the other leaders experienced a decline in the export price figures.

Boring Machinery Imports

Imports in Southern Asia

In 2022, approx. X units of boring or sinking machinery were imported in Southern Asia; waning by -42.3% against 2021 figures. In general, imports saw a abrupt contraction. The pace of growth appeared the most rapid in 2014 when imports increased by 60%. As a result, imports reached the peak of X units. From 2015 to 2022, the growth of imports failed to regain momentum.

In value terms, boring machinery imports dropped rapidly to $X in 2022. Overall, imports showed a deep downturn. The pace of growth appeared the most rapid in 2013 with an increase of 25%. Over the period under review, imports attained the maximum at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

India (X units) and Pakistan (X units) dominates imports structure, together generating 87% of total imports. It was distantly followed by Maldives (X units), generating a 4.8% share of total imports. Sri Lanka (X units) and Bangladesh (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 key importing countries, was attained by Maldives (with a CAGR of +27.5%), while imports for the other leaders experienced mixed trends in the imports figures.

In value terms, India ($X) constitutes the largest market for imported boring or sinking machinery in Southern Asia, comprising 76% of total imports. The second position in the ranking was held by Pakistan ($X), with a 19% share of total imports. It was followed by Bangladesh, with a 1.6% share.

In India, boring machinery imports declined by an average annual rate of -10.9% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Pakistan (-15.0% per year) and Bangladesh (-21.1% per year).

Import Prices by Country

The import price in Southern Asia stood at $X per unit in 2022, with a decrease of -13.9% against the previous year. In general, the import price continues to indicate a noticeable decrease. The most prominent rate of growth was recorded in 2019 an increase of 18% against the previous year. As a result, import price reached the peak level of $X per unit. From 2020 to 2022, the import prices remained at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Maldives (+15.0%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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