Malaysia: Boring Machinery Market 2024

Boring Machinery Market Size in Malaysia

The Malaysian boring machinery market dropped modestly to $X.8B in 2022, declining by X% against the previous year. Overall, consumption, however, showed a significant expansion. Over the period under review, the market attained the maximum level at $X.3B in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Boring Machinery Production in Malaysia

In value terms, boring machinery production dropped slightly to $X.1B in 2022 estimated in export price. Over the period under review, production, however, recorded significant growth. The most prominent rate of growth was recorded in 2018 when the production volume increased by X%. Over the period under review, production hit record highs at $X.5B in 2019; however, from 2020 to 2022, production failed to regain momentum.

Boring Machinery Exports

Exports from Malaysia

For the third year in a row, Malaysia recorded growth in overseas shipments of boring or sinking machinery, which increased by X% to X units in 2022. Over the period under review, exports posted a significant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, boring machinery exports dropped notably to $X in 2022. In general, exports recorded a buoyant increase. The pace of growth was the most pronounced in 2013 with an increase of X% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

Hong Kong SAR (X units) was the main destination for boring machinery exports from Malaysia, accounting for a X% share of total exports. Moreover, boring machinery exports to Hong Kong SAR exceeded the volume sent to the second major destination, Mexico (X units), ninefold. Vietnam (X units) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Hong Kong SAR amounted to X.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (X% per year) and Vietnam (X% per year).

In value terms, Hong Kong SAR ($X), the United States ($X) and Vietnam ($X) constituted the largest markets for boring machinery exported from Malaysia worldwide, with a combined X% share of total exports.

Hong Kong SAR, with a CAGR of X.7%, saw the highest growth rate of the value of exports, among 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, falling by X% against the previous year. In general, the export price showed a abrupt curtailment. The pace of growth appeared the most rapid in 2013 an increase of X%. As a result, the export price attained the peak level of $X per unit. From 2014 to 2022, the average export prices remained at a lower figure.

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

Boring Machinery Imports

Imports into Malaysia

In 2022, boring machinery imports into Malaysia contracted to X units, shrinking by X% on the previous year's figure. Overall, imports saw a noticeable decline. The pace of growth appeared the most rapid in 2013 with an increase of X% against the previous year. As a result, imports reached the peak of X units. From 2014 to 2022, the growth of imports remained at a lower figure.

In value terms, boring machinery imports fell significantly to $X in 2022. In general, imports recorded a abrupt curtailment. The pace of growth appeared the most rapid in 2013 with an increase of X%. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

Vietnam (X units), China (X units) and Thailand (X units) were the main suppliers of boring machinery imports to Malaysia, with a combined X% share of total imports.

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

In value terms, the largest boring machinery suppliers to Malaysia were Vietnam ($X), China ($X) and the United States ($X), together accounting for X% of total imports.

Vietnam, with a CAGR of X%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average boring machinery import price amounted to $X per unit, declining by X% against the previous year. Overall, the import price showed a drastic downturn. The most prominent rate of growth was recorded in 2020 an increase of X%. Over the period under review, average import prices attained the maximum at $X per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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 ($X per unit), while the price for Brunei Darussalam ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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