Southern Asia: Machine-Tool For Drilling Market 2024

Machine-Tool For Drilling Market Size in Southern Asia

The South Asian machine-tool for drilling market totaled $X in 2022, surging by 4.3% against the previous year. Over the period under review, consumption posted a buoyant expansion. Over the period under review, the market hit record highs in 2022 and is likely to see gradual growth in the near future.

Machine-Tool For Drilling Production in Southern Asia

In value terms, machine-tool for drilling production amounted to $X in 2022 estimated in export price. The total production indicated measured growth from 2012 to 2022: its value increased at an average annual rate of +4.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -0.1% against 2020 indices. The most prominent rate of growth was recorded in 2018 when the production volume increased by 35% against the previous year. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Machine-Tool For Drilling Exports

Exports in Southern Asia

In 2022, shipments abroad of machine-tools for drilling, boring or milling metal decreased by -44.7% to X units for the first time since 2017, thus ending a four-year rising trend. In general, exports, however, continue to indicate resilient growth. The pace of growth appeared the most rapid in 2015 when exports increased by 99%. As a result, the exports attained the peak of X units. From 2016 to 2022, the growth of the exports failed to regain momentum.

In value terms, machine-tool for drilling exports contracted remarkably to $X in 2022. Over the period under review, exports recorded a perceptible setback. The pace of growth was the most pronounced in 2021 when exports increased by 83% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

Exports by Country

The shipments of the one major exporters of machine-tools for drilling, boring or milling metal, namely India, represented more than two-thirds of total export.

India was also the fastest-growing in terms of the machine-tools for drilling, boring or milling metal exports, with a CAGR of +8.0% from 2012 to 2022. From 2012 to 2022, the share of India increased by +14 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) also remains the largest machine-tool for drilling supplier in Southern Asia.

In India, machine-tool for drilling exports plunged by an average annual rate of -1.6% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in Southern Asia amounted to $X per unit, increasing by 47% against the previous year. In general, the export price, however, showed a abrupt slump. The level of export peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for India.

From 2012 to 2022, the rate of growth in terms of prices for India amounted to -9.0% per year.

Machine-Tool For Drilling Imports

Imports in Southern Asia

In 2022, approx. X units of machine-tools for drilling, boring or milling metal were imported in Southern Asia; rising by 17% against 2021 figures. In general, imports continue to indicate a buoyant increase. The most prominent rate of growth was recorded in 2013 when imports increased by 76%. Over the period under review, imports hit record highs in 2022 and are likely to see gradual growth in the immediate term.

In value terms, machine-tool for drilling imports surged to $X in 2022. Overall, imports, however, showed a abrupt decrease. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

India was the key importing country with an import of about X units, which accounted for 48% of total imports. Nepal (X units) held the second position in the ranking, distantly followed by Sri Lanka (X units) and Pakistan (X units). All these countries together took near 48% share of total imports. Bangladesh (X units) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Nepal (with a CAGR of +20.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, India ($X) constitutes the largest market for imported machine-tools for drilling, boring or milling metal in Southern Asia, comprising 86% of total imports. The second position in the ranking was held by Pakistan ($X), with a 5.8% share of total imports. It was followed by Bangladesh, with a 5.8% share.

From 2012 to 2022, the average annual growth rate of value in India stood at -9.1%. The remaining importing countries recorded the following average annual rates of imports growth: Pakistan (+3.8% per year) and Bangladesh (-10.8% per year).

Import Prices by Country

The import price in Southern Asia stood at $X per unit in 2022, increasing by 15% against the previous year. In general, the import price, however, continues to indicate a drastic downturn. The most prominent rate of growth was recorded in 2014 when the import price increased by 56% against the previous year. The level of import peaked at $X per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Bangladesh ($X per unit), while Nepal ($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 (-0.0%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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