Thailand: Boring Machinery Market 2024

Boring Machinery Market Size in Thailand

In 2022, the Thai boring machinery market decreased by -60.8% to $X for the first time since 2016, thus ending a five-year rising trend. Over the period under review, consumption showed a pronounced decrease. Boring machinery consumption peaked at $X in 2021, and then reduced remarkably in the following year.

Boring Machinery Production in Thailand

In value terms, boring machinery production rose significantly to $X in 2022 estimated in export price. Overall, production, however, posted strong growth. The most prominent rate of growth was recorded in 2020 when the production volume increased by 63% against the previous year. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

Boring Machinery Exports

Exports from Thailand

Boring machinery exports from Thailand skyrocketed to X units in 2022, picking up by 67% compared with the previous year's figure. Over the period under review, exports enjoyed a significant expansion. The pace of growth was the most pronounced in 2015 when exports increased by 545% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are likely to continue growth in the immediate term.

In value terms, boring machinery exports reduced to $X in 2022. Overall, exports continue to indicate a buoyant increase. The pace of growth appeared the most rapid in 2021 when exports increased by 168% against the previous year. The exports peaked at $X in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

Exports by Country

Malaysia (X units), Tanzania (X units) and the Philippines (X units) were the main destinations of boring machinery exports from Thailand, with a combined 1.8% share of total exports. Lao People's Democratic Republic, the United Arab Emirates, Burundi, Uganda, Guyana, Cambodia, Niger, Singapore, Chad and Saudi Arabia lagged somewhat behind, together accounting for a further 2.5%. Moreover, boring machinery exports in Malaysia exceeded the figures recorded by the second-largest exporter, Tanzania, twofold.

From 2012 to 2022, the biggest increases were recorded for Burundi (with a CAGR of +49.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for boring machinery exported from Thailand were the United Arab Emirates ($X), Tanzania ($X) and the Philippines ($X), with a combined 1.8% share of total exports.

The Philippines, with a CAGR of +145.2%, saw the highest growth rate of the value of exports, in terms of the main countries of destination 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 boring machinery export price amounted to $X per unit, shrinking by -42.5% against the previous year. In general, the export price continues to indicate a abrupt curtailment. The pace of growth was the most pronounced in 2014 when the average export price increased by 122%. As a result, the export price reached the peak level of $X per unit. From 2015 to 2022, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Saudi Arabia ($X per unit), while the average price for exports to Malaysia ($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 Guyana (+66.4%), while the prices for the other major destinations experienced mixed trend patterns.

Boring Machinery Imports

Imports into Thailand

In 2022, purchases abroad of boring or sinking machinery was finally on the rise to reach X units for the first time since 2018, thus ending a three-year declining trend. Over the period under review, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of 219% against the previous year. Imports peaked at X units in 2016; however, from 2017 to 2022, imports failed to regain momentum.

In value terms, boring machinery imports dropped markedly to $X in 2022. In general, imports, however, continue to indicate a abrupt downturn. The pace of growth appeared the most rapid in 2015 when imports increased by 77% against the previous year. Imports peaked at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Austria (X units) constituted the largest boring machinery supplier to Thailand, with a 20% share of total imports. Moreover, boring machinery imports from Austria exceeded the figures recorded by the second-largest supplier, Italy (X units), twofold. Japan (X units) ranked third in terms of total imports with an 8.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Austria was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+53.0% per year) and Japan (+1.2% per year).

In value terms, Italy ($X) constituted the largest supplier of boring or sinking machinery to Thailand, comprising 52% of total imports. The second position in the ranking was held by China ($X), with a 19% share of total imports. It was followed by Germany, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Italy amounted to +47.2%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+3.2% per year) and Germany (-12.0% per year).

Import Prices by Country

The average boring machinery import price stood at $X per unit in 2022, reducing by -68.9% against the previous year. In general, the import price recorded a abrupt downturn. The most prominent rate of growth was recorded in 2019 when the average import price increased by 58%. The import price peaked at $X per unit in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+4.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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