Southern Asia: Self-Propelled Excavating Machinery Market 2024

Self-Propelled Excavating Machinery Market Size in Southern Asia

In 2021, the South Asian self-propelled excavating machinery market increased by 18% to $X for the first time since 2017, thus ending a three-year declining trend. Overall, consumption showed slight growth. Over the period under review, the market attained the maximum level in 2021 and is likely to see gradual growth in years to come.

Self-Propelled Excavating Machinery Production in Southern Asia

In value terms, self-propelled excavating machinery production shrank slightly to $X in 2021 estimated in export price. Over the period under review, production, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 2.7% against the previous year. Over the period under review, production attained the peak level at $X in 2020, and then contracted in the following year.

Self-Propelled Excavating Machinery Exports

Exports in Southern Asia

In 2021, after three years of growth, there was significant decline in shipments abroad of self-propelled earth moving, excavating machinery, when their volume decreased by -89.9% to X units. Overall, exports faced a abrupt downturn. The pace of growth was the most pronounced in 2015 with an increase of 371% against the previous year. Over the period under review, the exports reached the maximum at X units in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

In value terms, self-propelled excavating machinery exports surged to $X in 2021. Over the period under review, exports, however, continue to indicate a moderate increase. The pace of growth was the most pronounced in 2017 with an increase of 187%. The level of export peaked at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

India (X units) represented roughly 99% of total exports in 2021.

India was also the fastest-growing in terms of the self-propelled earth moving, excavating machinery exports, with a CAGR of -14.7% from 2012 to 2021. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, India ($X) also remains the largest self-propelled excavating machinery supplier in Southern Asia.

From 2012 to 2021, the average annual growth rate of value in India stood at +3.9%.

Export Prices by Country

In 2021, the export price in Southern Asia amounted to $X per unit, surging by 1,367% against the previous year. Overall, the export price showed significant growth. The most prominent rate of growth was recorded in 2017 an increase of 8,923%. Over the period under review, the export prices reached the peak figure in 2021 and is expected to retain growth in the immediate term.

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 +21.8% per year.

Self-Propelled Excavating Machinery Imports

Imports in Southern Asia

In 2021, overseas purchases of self-propelled earth moving, excavating machinery decreased by -7.2% to X units for the first time since 2017, thus ending a three-year rising trend. In general, imports recorded a abrupt decrease. The pace of growth was the most pronounced in 2016 with an increase of 256% against the previous year. Over the period under review, imports hit record highs at X units in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, self-propelled excavating machinery imports rose modestly to $X in 2021. Overall, imports, however, recorded strong growth. The most prominent rate of growth was recorded in 2016 with an increase of 213%. Over the period under review, imports attained the peak figure at $X in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Afghanistan (X units) represented the largest importer of self-propelled earth moving, excavating machinery, committing 51% of total imports. India (X units) ranks second in terms of the total imports with a 19% share, followed by Sri Lanka (12%) and Bangladesh (7.6%). Pakistan (X units), Bhutan (X units) and Nepal (X units) took a relatively small share of total imports.

Imports into Afghanistan increased at an average annual rate of +18.3% from 2012 to 2021. At the same time, Bhutan (+30.5%), Bangladesh (+26.6%) and Pakistan (+6.5%) displayed positive paces of growth. Moreover, Bhutan emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of +30.5% from 2012-2021. By contrast, India (-2.1%), Nepal (-5.2%) and Sri Lanka (-26.1%) illustrated a downward trend over the same period. While the share of Afghanistan (+46 p.p.), India (+8.8 p.p.), Bangladesh (+7.2 p.p.), Pakistan (+3.3 p.p.) and Bhutan (+3.2 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Sri Lanka (-68.9 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported self-propelled earth moving, excavating machinery in Southern Asia, comprising 79% of total imports. The second position in the ranking was held by Pakistan ($X), with an 8.3% share of total imports. It was followed by Bangladesh, with a 4.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value in India stood at +11.2%. In the other countries, the average annual rates were as follows: Pakistan (+19.1% per year) and Bangladesh (+10.2% per year).

Import Prices by Country

In 2021, the import price in Southern Asia amounted to $X per unit, rising by 13% against the previous year. Overall, the import price posted strong growth. The most prominent rate of growth was recorded in 2013 when the import price increased by 745%. The level of import peaked at $X per unit in 2017; however, from 2018 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 India ($X per unit), while Sri Lanka ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Nepal (+14.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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