Asia: Boring Machinery Market 2024

Boring Machinery Market Size in Asia

The Asian boring machinery market reached $X.3B in 2022, approximately equating the previous year. In general, consumption showed a significant expansion. Over the period under review, the market reached the peak level in 2022 and is expected to retain growth in the near future.

Boring Machinery Production in Asia

In value terms, boring machinery production stood at $X.3B in 2022 estimated in export price. In general, production continues to indicate resilient growth. The growth pace was the most rapid in 2013 when the production volume increased by X%. Over the period under review, production reached the peak level at $X.5B in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Boring Machinery Exports

Exports in Asia

In 2022, boring machinery exports in Asia contracted remarkably to X units, shrinking by X% against 2021. In general, exports, however, showed prominent growth. The pace of growth appeared the most rapid in 2015 with an increase of X%. The volume of export peaked at X units in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, boring machinery exports contracted markedly to $X in 2022. Overall, exports saw a abrupt downturn. The most prominent rate of growth was recorded in 2018 with an increase of X%. Over the period under review, the exports attained the peak figure at $X in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

Exports by Country

China (X units) and Singapore (X units) dominates exports structure, together comprising X% of total exports. It was distantly followed by Thailand (X units), creating a X% share of total exports. The United Arab Emirates (X units), Malaysia (X units), India (X units) and Turkey (X units) held a little share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Thailand (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, China ($X), the United Arab Emirates ($X) and Singapore ($X) constituted the countries with the highest levels of exports in 2022, with a combined X% share of total exports.

The United Arab Emirates, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in Asia amounted to $X per unit, surging by X% against the previous year. Overall, the export price, however, faced a abrupt shrinkage. The most prominent rate of growth was recorded in 2018 an increase of X% against the previous year. Over the period under review, the export prices attained the maximum at $X per unit in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per unit), while Singapore ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (X%), while the other leaders experienced a decline in the export price figures.

Boring Machinery Imports

Imports in Asia

In 2022, imports of boring or sinking machinery in Asia contracted rapidly to X units, dropping by X% compared with 2021 figures. In general, imports, however, posted temperate growth. The pace of growth was the most pronounced in 2021 when imports increased by X%. The volume of import peaked at X units in 2015; however, from 2016 to 2022, imports remained at a lower figure.

In value terms, boring machinery imports shrank remarkably to $X in 2022. Overall, imports showed a perceptible decrease. The pace of growth appeared the most rapid in 2019 when imports increased by X%. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

Singapore prevails in imports structure, accounting for X units, which was near X% of total imports in 2022. The following importers - India (X units), the United Arab Emirates (X units) and Kuwait (X units) - each recorded a X% share of total imports.

Singapore was also the fastest-growing in terms of the boring or sinking machinery imports, with a CAGR of X% from 2012 to 2022. At the same time, the United Arab Emirates (X%) displayed positive paces of growth. By contrast, India (X%) and Kuwait (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Singapore and Kuwait increased by X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported boring or sinking machinery in Asia, comprising X% of total imports. The second position in the ranking was taken by India ($X), with a X% share of total imports. It was followed by Singapore, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in the United Arab Emirates stood at X%. In the other countries, the average annual rates were as follows: India (X% per year) and Singapore (X% per year).

Import Prices by Country

In 2022, the import price in Asia amounted to $X per unit, declining by X% against the previous year. In general, the import price continues to indicate a deep downturn. The pace of growth was the most pronounced in 2020 an increase of X% against the previous year. The level of import peaked at $X per unit in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the United Arab Emirates ($X per unit), while Singapore ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kuwait (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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