Tanzania: Self-Propelled Boring Machinery Market 2024

Self-Propelled Boring Machinery Market Size in Tanzania

After two years of growth, the Tanzanian self-propelled boring machinery market decreased by -15.9% to $X in 2022. Over the period under review, consumption continues to indicate a noticeable decline. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Self-Propelled Boring Machinery Exports

Exports from Tanzania

In 2022, shipments abroad of self-propelled boring or sinking machinery decreased by -40% to X units, falling for the third year in a row after two years of growth. In general, exports saw a abrupt curtailment. The most prominent rate of growth was recorded in 2019 with an increase of 125% against the previous year. 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, self-propelled boring machinery exports declined significantly to $X in 2022. Over the period under review, exports showed a pronounced curtailment. The growth pace was the most rapid in 2019 with an increase of 229%. As a result, the exports attained the peak of $X. From 2020 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Namibia (X units), Democratic Republic of the Congo (X units) and Niger (X units) were the main destinations of self-propelled boring machinery exports from Tanzania, with a combined 83% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Namibia (with a CAGR of +26.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Namibia ($X), Democratic Republic of the Congo ($X) and Zambia ($X) constituted the largest markets for self-propelled boring machinery exported from Tanzania worldwide, together accounting for 86% of total exports.

Among the main countries of destination, Namibia, with a CAGR of +36.4%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average self-propelled boring machinery export price amounted to $X per unit, with a decrease of -9.2% against the previous year. Over the period under review, the export price, however, continues to indicate a mild expansion. The growth pace was the most rapid in 2018 an increase of 95%. The export price peaked at $X per unit in 2021, and then contracted in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Zambia ($X per unit), while the average price for exports to Democratic Republic of the Congo ($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 Egypt (+85.9%), while the prices for the other major destinations experienced more modest paces of growth.

Self-Propelled Boring Machinery Imports

Imports into Tanzania

In 2022, supplies from abroad of self-propelled boring or sinking machinery decreased by -27.8% to X units for the first time since 2019, thus ending a two-year rising trend. Overall, imports saw a abrupt setback. The most prominent rate of growth was recorded in 2021 when imports increased by 80% against the previous year. Over the period under review, imports reached the maximum at X units in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, self-propelled boring machinery imports stood at $X in 2022. Over the period under review, imports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 with an increase of 226%. Imports peaked in 2022 and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Finland (X units) constituted the largest supplier of self-propelled boring machinery to Tanzania, with a 32% share of total imports. Moreover, self-propelled boring machinery imports from Finland exceeded the figures recorded by the second-largest supplier, Australia (X units), twofold. The third position in this ranking was taken by Sweden (X units), with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Finland totaled +11.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Australia (+1.3% per year) and Sweden (-2.2% per year).

In value terms, Finland ($X) constituted the largest supplier of self-propelled boring or sinking machinery to Tanzania, comprising 36% of total imports. The second position in the ranking was held by Australia ($X), with a 17% share of total imports. It was followed by Sweden, with a 16% share.

From 2012 to 2022, the average annual growth rate of value from Finland totaled +12.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Australia (+3.3% per year) and Sweden (+5.0% per year).

Import Prices by Country

In 2022, the average self-propelled boring machinery import price amounted to $X per unit, with an increase of 49% against the previous year. Over the period under review, the import price posted a prominent expansion. The pace of growth was the most pronounced in 2015 an increase of 178% against the previous year. Over the period under review, average import prices reached the peak figure in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Poland ($X per unit), while the price for Italy ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bermuda (+30.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform