Southern Asia: Full-Rotation Excavator Market 2024

Full-Rotation Excavator Market Size in Southern Asia

In 2021, the South Asian full-rotation excavator market was finally on the rise to reach $X for the first time since 2017, thus ending a three-year declining trend. Overall, consumption, however, showed a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2018 to 2021, the growth of the market failed to regain momentum.

Full-Rotation Excavator Production in Southern Asia

In value terms, full-rotation excavator production rose sharply to $X in 2021 estimated in export price. Over the period under review, production recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the production volume increased by 33%. Over the period under review, production reached the peak level at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Full-Rotation Excavator Exports

Exports in Southern Asia

In 2021, shipments abroad of self-propelled full-rotation excavators and bulldozers increased by 114% to X units, rising for the second year in a row after two years of decline. Over the period under review, exports continue to indicate a significant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, full-rotation excavator exports soared to $X in 2021. In general, exports saw a significant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, India (X units) represented the main exporter of self-propelled full-rotation excavators and bulldozers in Southern Asia, mixing up 100% of total export.

India was also the fastest-growing in terms of the self-propelled full-rotation excavators and bulldozers exports, with a CAGR of +25.0% from 2012 to 2021. India (+2.4 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) also remains the largest full-rotation excavator supplier in Southern Asia.

In India, full-rotation excavator exports increased at an average annual rate of +24.7% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in Southern Asia amounted to $X per unit, rising by 13% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the export price increased by 18% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2015 to 2021, the export prices remained at a lower figure.

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

From 2012 to 2021, the rate of growth in terms of prices for India amounted to -0.2% per year.

Full-Rotation Excavator Imports

Imports in Southern Asia

In 2021, purchases abroad of self-propelled full-rotation excavators and bulldozers increased by 83% to X units, rising for the second year in a row after two years of decline. Over the period under review, imports enjoyed a buoyant expansion. The volume of import peaked at X units in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

In value terms, full-rotation excavator imports surged to $X in 2021. Overall, imports enjoyed resilient growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Bangladesh (X units) and India (X units) represented the largest importers of self-propelled full-rotation excavators and bulldozers in Southern Asia, together recording approx. 64% of total imports. It was distantly followed by Sri Lanka (X units) and Nepal (X units), together constituting a 30% share of total imports. The following importers - Bhutan (X units), Afghanistan (X units) and Maldives (X units) - each reached a 5.7% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Nepal (with a CAGR of +54.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, India ($X) constitutes the largest market for imported self-propelled full-rotation excavators and bulldozers in Southern Asia, comprising 44% of total imports. The second position in the ranking was held by Bangladesh ($X), with a 21% share of total imports. It was followed by Sri Lanka, with a 16% share.

From 2012 to 2021, the average annual growth rate of value in India stood at +11.8%. In the other countries, the average annual rates were as follows: Bangladesh (+19.8% per year) and Sri Lanka (+5.2% per year).

Import Prices by Country

In 2021, the import price in Southern Asia amounted to $X per unit, with a decrease of -3.3% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the import price increased by 29%. Over the period under review, import prices hit record highs at $X per unit in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Bhutan ($X per unit), while Afghanistan ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Bhutan (+5.2%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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