United Kingdom: Boring Machinery Market 2024

Boring Machinery Market Size in the UK

The UK boring machinery market dropped to $X in 2022, therefore, remained relatively stable against the previous year. The market value increased at an average annual rate of +1.8% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Boring machinery consumption peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Boring Machinery Production in the UK

In value terms, boring machinery production contracted slightly to $X in 2022 estimated in export price. In general, production saw a deep reduction. The most prominent rate of growth was recorded in 2019 with an increase of 63%. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Boring Machinery Exports

Exports from the UK

In 2022, the amount of boring or sinking machinery exported from the UK shrank significantly to X units, which is down by -51.2% on 2021 figures. In general, exports showed a noticeable reduction. The most prominent rate of growth was recorded in 2021 with an increase of 102%. As a result, the exports reached the peak of X units, and then dropped significantly in the following year.

In value terms, boring machinery exports reduced rapidly to $X in 2022. Over the period under review, exports continue to indicate a noticeable slump. The pace of growth appeared the most rapid in 2018 when exports increased by 69%. As a result, the exports reached the peak of $X. From 2019 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The Netherlands (X units) was the main destination for boring machinery exports from the UK, accounting for a 35% share of total exports. Moreover, boring machinery exports to the Netherlands exceeded the volume sent to the second major destination, the United States (X units), threefold. The third position in this ranking was held by Germany (X units), with an 8.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the Netherlands totaled +19.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-3.3% per year) and Germany (+11.3% per year).

In value terms, the largest markets for boring machinery exported from the UK were the Netherlands ($X), the United States ($X) and Norway ($X), together accounting for 66% of total exports. China, Singapore, Romania, the United Arab Emirates, France, Germany, Libya, Turkey, Ireland and South Sudan lagged somewhat behind, together comprising a further 19%.

Romania, with a CAGR of +84.0%, 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, growing by 64% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. Over the period under review, the average export prices attained the maximum at $X per unit in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to South Sudan ($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 Singapore (+10.7%), while the prices for the other major destinations experienced more modest paces of growth.

Boring Machinery Imports

Imports into the UK

In 2022, the amount of boring or sinking machinery imported into the UK shrank rapidly to X units, waning by -34.3% against the previous year's figure. Over the period under review, imports continue to indicate a noticeable contraction. The most prominent rate of growth was recorded in 2014 with an increase of 57% against the previous year. Over the period under review, imports reached the peak figure at X units in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, boring machinery imports shrank to $X in 2022. In general, imports recorded a pronounced downturn. The most prominent rate of growth was recorded in 2019 with an increase of 120% against the previous year. As a result, imports attained the peak of $X. From 2020 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

The United States (X units), China (X units) and Germany (X units) were the main suppliers of boring machinery imports to the UK, with a combined 55% share of total imports. New Zealand, Italy, Singapore, the Netherlands, Austria and Spain lagged somewhat behind, together accounting for a further 32%.

From 2012 to 2022, the biggest increases were recorded for New Zealand (with a CAGR of +141.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) constituted the largest supplier of boring or sinking machinery to the UK, comprising 34% of total imports. The second position in the ranking was held by Germany ($X), with a 14% share of total imports. It was followed by China, with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States amounted to -2.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-0.0% per year) and China (+12.7% per year).

Import Prices by Country

The average boring machinery import price stood at $X per unit in 2022, jumping by 33% against the previous year. Overall, the import price, however, showed a slight descent. The pace of growth appeared the most rapid in 2019 when the average import price increased by 51% against the previous year. The import price peaked at $X per unit in 2020; however, from 2021 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by New Zealand (+157.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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