Spain: Self-Propelled Boring Machinery Market 2024

Self-Propelled Boring Machinery Market Size in Spain

The Spanish self-propelled boring machinery market was finally on the rise to reach $X in 2022, after two years of decline. Over the period under review, consumption faced a abrupt shrinkage. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Self-Propelled Boring Machinery Production in Spain

In value terms, self-propelled boring machinery production soared to $X in 2022 estimated in export price. In general, the total production indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +5.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 with an increase of 53%. Over the period under review, production attained the peak level in 2022 and is likely to see steady growth in the near future.

Self-Propelled Boring Machinery Exports

Exports from Spain

Self-propelled boring machinery exports from Spain dropped dramatically to X units in 2022, with a decrease of -25.7% against the year before. Over the period under review, exports continue to indicate a pronounced slump. The most prominent rate of growth was recorded in 2021 when exports increased by 140%. The exports peaked at X units in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, self-propelled boring machinery exports reduced markedly to $X in 2022. Overall, exports showed a abrupt setback. The pace of growth appeared the most rapid in 2021 when exports increased by 32% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

The UK (X units), Uganda (X units) and Cote d'Ivoire (X units) were the main destinations of self-propelled boring machinery exports from Spain, together accounting for 47% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Uganda (with a CAGR of +2,500.0%), while the other leaders experienced more modest paces of growth.

In value terms, the UK ($X) emerged as the key foreign market for self-propelled boring or sinking machinery exports from Spain, comprising 29% of total exports. The second position in the ranking was taken by Cote d'Ivoire ($X), with a 12% share of total exports. It was followed by Germany, with a 7.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the UK stood at +18.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cote d'Ivoire (+75.2% per year) and Germany (-5.1% per year).

Export Prices by Country

In 2022, the average self-propelled boring machinery export price amounted to $X per unit, therefore, remained relatively stable against the previous year. In general, the export price saw a perceptible reduction. The pace of growth appeared the most rapid in 2013 an increase of 42%. The export price peaked at $X per unit in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Cuba ($X per unit), while the average price for exports to Uganda ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Andorra (+20.2%), while the prices for the other major destinations experienced more modest paces of growth.

Self-Propelled Boring Machinery Imports

Imports into Spain

In 2022, the amount of self-propelled boring or sinking machinery imported into Spain shrank rapidly to X units, reducing by -70.2% compared with the year before. Overall, imports, however, enjoyed a resilient increase. The pace of growth was the most pronounced in 2014 when imports increased by 274%. Imports peaked at X units in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, self-propelled boring machinery imports shrank markedly to $X in 2022. Over the period under review, imports, however, continue to indicate a prominent expansion. The pace of growth was the most pronounced in 2014 when imports increased by 262%. Over the period under review, imports attained the maximum at $X in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Imports by Country

Germany (X units), Italy (X units) and Norway (X units) were the main suppliers of self-propelled boring machinery imports to Spain, with a combined 55% share of total imports. The United States, China, Austria, Turkey and Mexico lagged somewhat behind, together accounting for a further 30%.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +47.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X), Germany ($X) and the United States ($X) were the largest self-propelled boring machinery suppliers to Spain, together comprising 71% of total imports. Austria, Turkey, China, Norway and Mexico lagged somewhat behind, together accounting for a further 14%.

Turkey, with a CAGR of +121.6%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average self-propelled boring machinery import price stood at $X per unit in 2022, surging by 137% against the previous year. In general, the import price saw a slight expansion. Over the period under review, average import prices reached the maximum at $X per unit in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Austria ($X per unit), while the price for Norway ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+98.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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