U.S.: Self-Propelled Boring Machinery Market 2024

Self-Propelled Boring Machinery Market Size in the U.S.

In 2022, the U.S. self-propelled boring machinery market decreased by -9.9% to $X, falling for the second year in a row after two years of growth. Overall, consumption, however, recorded a significant expansion. Self-propelled boring machinery consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Self-Propelled Boring Machinery Production in the U.S.

In value terms, self-propelled boring machinery production stood at $X in 2022. The total output value increased at an average annual rate of +1.8% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The pace of growth appeared the most rapid in 2014 with an increase of 18%. As a result, production reached the peak level of $X. From 2015 to 2022, production growth remained at a lower figure.

Self-Propelled Boring Machinery Exports

Exports from the U.S.

In 2022, overseas shipments of self-propelled boring or sinking machinery increased by 33% to X units, rising for the second year in a row after two years of decline. Over the period under review, exports, however, saw a abrupt descent. The most prominent rate of growth was recorded in 2017 with an increase of 37% against the previous year. The exports peaked at X units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, self-propelled boring machinery exports soared to $X in 2022. Overall, exports, however, saw a deep setback. The most prominent rate of growth was recorded in 2017 when exports increased by 57% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Canada (X units), Australia (X units) and Chile (X units) were the main destinations of self-propelled boring machinery exports from the United States, with a combined 52% share of total exports. The Netherlands, South Africa, Indonesia, Russia, India, Mexico, Kazakhstan, Mauritius, Germany and Peru lagged somewhat behind, together accounting for a further 33%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Kazakhstan (with a CAGR of +7.8%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for self-propelled boring machinery exported from the United States were Canada ($X), Australia ($X) and the Netherlands ($X), together comprising 52% of total exports. Chile, South Africa, Indonesia, Germany, Mexico, Russia, Kazakhstan, Mauritius, India and Peru lagged somewhat behind, together accounting for a further 31%.

Kazakhstan, with a CAGR of +8.0%, recorded the highest growth rate of the value of exports, among 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

The average self-propelled boring machinery export price stood at $X per unit in 2022, which is down by -6.7% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the average export price increased by 19%. 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 Germany ($X per unit), while the average price for exports to India ($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 Germany (+4.8%), while the prices for the other major destinations experienced more modest paces of growth.

Self-Propelled Boring Machinery Imports

Imports into the U.S.

In 2022, the amount of self-propelled boring or sinking machinery imported into the United States expanded markedly to X units, increasing by 5.6% compared with the year before. Overall, imports continue to indicate a pronounced expansion. The pace of growth was the most pronounced in 2017 with an increase of 62% against the previous year. Imports peaked in 2022 and are likely to continue growth in the near future.

In value terms, self-propelled boring machinery imports skyrocketed to $X in 2022. In general, total imports indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +6.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +59.0% against 2020 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Germany (X units), India (X units) and Italy (X units) were the main suppliers of self-propelled boring machinery imports to the United States, with a combined 58% share of total imports. Canada, Japan, Finland, Sweden, Brazil, the Netherlands, Australia and South Korea lagged somewhat behind, together accounting for a further 37%.

From 2012 to 2022, the biggest increases were recorded for Brazil (with a CAGR of +48.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Italy ($X) and Japan ($X) were the largest self-propelled boring machinery suppliers to the United States, together comprising 64% of total imports. Sweden, Canada, Finland, South Korea, the Netherlands, Australia, Brazil and India lagged somewhat behind, together comprising a further 27%.

South Korea, with a CAGR of +46.5%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average self-propelled boring machinery import price amounted to $X per unit, increasing by 27% against the previous year. Over the period under review, import price indicated a measured expansion from 2012 to 2022: its price increased at an average annual rate of +3.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, self-propelled boring machinery import price increased by +34.0% against 2019 indices. The growth pace was the most rapid in 2018 an increase of 51% against the previous year. Over the period under review, average import prices reached the maximum at $X per unit in 2014; however, from 2015 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 Sweden ($X per unit), while the price for India ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sweden (+11.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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