Asia: Wood Drilling Machine Market 2023

Wood Drilling Machine Market Size in Asia

In 2021, the Asian wood drilling machine market decreased by -18.6% to $X for the first time since 2016, thus ending a four-year rising trend. Overall, consumption posted strong growth. As a result, consumption reached the peak level of $X. From 2014 to 2021, the growth of the market remained at a somewhat lower figure.

Wood Drilling Machine Production in Asia

In value terms, wood drilling machine production declined to $X in 2021 estimated in export price. Over the period under review, production saw strong growth. The growth pace was the most rapid in 2016 with an increase of 249% against the previous year. As a result, production attained the peak level of $X. From 2017 to 2021, production growth remained at a somewhat lower figure.

Wood Drilling Machine Exports

Exports in Asia

In 2021, shipments abroad of drilling or morticing machines increased by 52% to X units, rising for the third year in a row after two years of decline. Over the period under review, exports continue to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2014 with an increase of 57% against the previous year. The volume of export peaked in 2021 and is expected to retain growth in years to come.

In value terms, wood drilling machine exports skyrocketed to $X in 2021. In general, exports showed strong growth. The most prominent rate of growth was recorded in 2019 when exports increased by 74% against the previous year. Over the period under review, the exports attained the maximum in 2021 and are expected to retain growth in the near future.

Exports by Country

In 2021, China (X units) represented the key exporter of drilling or morticing machines, mixing up 66% of total exports. Taiwan (Chinese) (X units) ranks second in terms of the total exports with a 23% share, followed by Singapore (6.6%).

China was also the fastest-growing in terms of the drilling or morticing machines exports, with a CAGR of +39.9% from 2012 to 2021. At the same time, Taiwan (Chinese) (+18.7%) and Singapore (+17.2%) displayed positive paces of growth. While the share of China (+55 p.p.) and Taiwan (Chinese) (+5.5 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest wood drilling machine supplier in Asia, comprising 48% of total exports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 20% share of total exports.

In China, wood drilling machine exports increased at an average annual rate of +25.7% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Taiwan (Chinese) (+3.3% per year) and Singapore (-24.6% per year).

Export Prices by Country

In 2021, the export price in Asia amounted to $X per unit, declining by -15.1% against the previous year. Over the period under review, the export price recorded a deep downturn. The growth pace was the most rapid in 2017 when the export price increased by 28% against the previous year. The level of export peaked at $X per unit in 2013; however, from 2014 to 2021, 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 Taiwan (Chinese) ($X per unit), while Singapore ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (-10.1%), while the other leaders experienced a decline in the export price figures.

Wood Drilling Machine Imports

Imports in Asia

In 2021, purchases abroad of drilling or morticing machines was finally on the rise to reach X units for the first time since 2018, thus ending a two-year declining trend. Over the period under review, imports recorded a buoyant increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, wood drilling machine imports surged to $X in 2021. In general, imports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 with an increase of 46%. As a result, imports attained the peak of $X. From 2020 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

Thailand (X units), Taiwan (Chinese) (X units) and India (X units) represented roughly 60% of total imports in 2021. The Philippines (X units) ranks next in terms of the total imports with an 11% share, followed by Singapore (11%). The following importers - Qatar (X units) and Cyprus (X units) - each reached a 4.6% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Cyprus (with a CAGR of +87.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Taiwan (Chinese) ($X) constitutes the largest market for imported drilling or morticing machines in Asia, comprising 24% of total imports. The second position in the ranking was held by Thailand ($X), with an 11% share of total imports. It was followed by the Philippines, with a 4.5% share.

In Taiwan (Chinese), wood drilling machine imports increased at an average annual rate of +17.5% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Thailand (+2.6% per year) and the Philippines (+24.0% per year).

Import Prices by Country

In 2021, the import price in Asia amounted to $X per unit, declining by -39.1% against the previous year. In general, the import price continues to indicate a abrupt shrinkage. The pace of growth was the most pronounced in 2019 when the import price increased by 67%. The level of import peaked at $X per unit in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Taiwan (Chinese) ($X per unit), while Qatar ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (-0.4%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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