Japan: Boring Machinery Market 2024

Boring Machinery Market Size in Japan

The Japanese boring machinery market contracted slightly to $X.7B in 2022, waning by X% against the previous year. In general, consumption, however, posted a significant increase. Over the period under review, the market attained the peak level at $X.7B in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Boring Machinery Production in Japan

In value terms, boring machinery production shrank slightly to $X.5B in 2022 estimated in export price. In general, production, however, showed a significant increase. The pace of growth was the most pronounced in 2019 when the production volume increased by X%. As a result, production attained the peak level of $X.6B. From 2020 to 2022, production growth remained at a lower figure.

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Boring Machinery Exports

Exports from Japan

After seven years of decline, shipments abroad of boring or sinking machinery increased by X% to X units in 2022. In general, exports, however, recorded a drastic downturn. The exports peaked at X units in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, boring machinery exports surged to $X in 2022. Overall, exports, however, continue to indicate a abrupt contraction. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Taiwan (Chinese) (X units) was the main destination for boring machinery exports from Japan, accounting for a X% share of total exports. Moreover, boring machinery exports to Taiwan (Chinese) exceeded the volume sent to the second major destination, Thailand (X units), threefold. Vietnam (X units) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Taiwan (Chinese) totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (X% per year) and Vietnam (X% per year).

In value terms, Taiwan (Chinese) ($X) emerged as the key foreign market for boring or sinking machinery exports from Japan, comprising X% of total exports. The second position in the ranking was held by South Korea ($X), with a X% share of total exports. It was followed by Thailand, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Taiwan (Chinese) totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (X% per year) and Thailand (X% per year).

Export Prices by Country

The average boring machinery export price stood at $X per unit in 2022, remaining relatively unchanged against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the average export price increased by X%. The export price peaked at $X per unit in 2016; however, from 2017 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per unit), while the average price for exports to Russia ($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 Hong Kong SAR (X%), while the prices for the other major destinations experienced more modest paces of growth.

Boring Machinery Imports

Imports into Japan

Boring machinery imports into Japan soared to X units in 2022, picking up by X% compared with the previous year. Overall, imports showed a resilient increase. Over the period under review, imports reached the maximum at X units in 2013; however, from 2014 to 2022, imports remained at a lower figure.

In value terms, boring machinery imports skyrocketed to $X in 2022. Over the period under review, imports recorded a buoyant increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, China (X units) constituted the largest supplier of boring machinery to Japan, accounting for a X% share of total imports. Moreover, boring machinery imports from China exceeded the figures recorded by the second-largest supplier, Germany (X units), fivefold. The third position in this ranking was held by the Netherlands (X units), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (X% per year) and the Netherlands (X% per year).

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

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

Import Prices by Country

The average boring machinery import price stood at $X per unit in 2022, which is down by X% against the previous year. In general, the import price, however, continues to indicate a temperate expansion. The growth pace was the most rapid in 2017 an increase of X%. As a result, import price reached the peak level of $X per unit. From 2018 to 2022, the average import prices remained at a lower figure.

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 the United States ($X per unit), while the price for China ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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