Venezuela: Self-Propelled Boring Machinery Market 2024

Self-Propelled Boring Machinery Market Size in Venezuela

In 2022, after three years of growth, there was decline in the Venezuelan self-propelled boring machinery market, when its value decreased by -0.9% to $X. The market value increased at an average annual rate of +5.2% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market reached the peak level at $X in 2015; however, from 2016 to 2022, consumption failed to regain momentum.

Self-Propelled Boring Machinery Exports

Exports from Venezuela

In 2022, self-propelled boring machinery exports from Venezuela totaled X units, approximately mirroring 2021 figures. In general, exports showed a abrupt shrinkage. The smallest decline of -50% was in 2015. Over the period under review, the exports attained the peak figure at X units in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, self-propelled boring machinery exports rose markedly to $X in 2022. Over the period under review, exports faced a significant decline. The growth pace was the most rapid in 2015 when exports increased by 473% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Colombia (X units) and Costa Rica (X units) were the main destinations of self-propelled boring machinery exports from Venezuela.

From 2012 to 2022, the biggest increases were recorded for Costa Rica (with a CAGR of 0.0%).

In value terms, Colombia ($X) remains the key foreign market for self-propelled boring or sinking machinery exports from Venezuela, comprising 80% of total exports. The second position in the ranking was taken by Costa Rica ($X), with a 20% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Colombia stood at -30.8%.

Export Prices by Country

The average self-propelled boring machinery export price stood at $X per unit in 2022, surging by 7.1% against the previous year. Overall, the export price, however, continues to indicate a abrupt downturn. The most prominent rate of growth was recorded in 2015 when the average export price increased by 1,046% against the previous year. The export price peaked at $X per unit in 2012; however, from 2013 to 2022, the 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 Colombia ($X per unit), while the average price for exports to Costa Rica totaled $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Colombia (-12.8%).

Self-Propelled Boring Machinery Imports

Imports into Venezuela

In 2022, approx. X units of self-propelled boring or sinking machinery were imported into Venezuela; surging by 2% on the year before. The total import volume increased at an average annual rate of +3.6% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when imports increased by 34%. As a result, imports reached the peak of X units. From 2018 to 2022, the growth of imports remained at a lower figure.

In value terms, self-propelled boring machinery imports dropped to $X in 2022. Over the period under review, total imports indicated a prominent 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. Based on 2022 figures, imports increased by +25.9% against 2016 indices. The most prominent rate of growth was recorded in 2013 with an increase of 38% against the previous year. Over the period under review, imports hit record highs at $X in 2015; however, from 2016 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Spain (X units) constituted the largest supplier of self-propelled boring machinery to Venezuela, accounting for a 68% share of total imports. Moreover, self-propelled boring machinery imports from Spain exceeded the figures recorded by the second-largest supplier, France (X units), threefold. The third position in this ranking was held by Sweden (X units), with a 2.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Spain amounted to +17.9%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+22.3% per year) and Sweden (+7.2% per year).

In value terms, Spain ($X) constituted the largest supplier of self-propelled boring or sinking machinery to Venezuela, comprising 63% of total imports. The second position in the ranking was taken by France ($X), with a 22% share of total imports. It was followed by Sweden, with a 6.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Spain amounted to +31.6%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+23.2% per year) and Sweden (+20.5% per year).

Import Prices by Country

In 2022, the average self-propelled boring machinery import price amounted to $X per unit, dropping by -4.4% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.6%. The pace of growth appeared the most rapid in 2018 an increase of 29%. The import price peaked at $X per unit in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($X per unit), while the price for the United States ($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 (+12.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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