Myanmar: Market for Mechanical Shovels, Excavators And Shovel Loaders 2024

Market Size for Mechanical Shovels, Excavators And Shovel Loaders in Myanmar

The Myanmar's mechanical shovel and excavator market reduced to $X in 2022, declining by X% against the previous year. Over the period under review, consumption recorded a dramatic descent. Over the period under review, the market attained the peak level at $X.4B in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Production of Mechanical Shovels, Excavators And Shovel Loaders in Myanmar

In value terms, mechanical shovel and excavator production shrank to $X in 2022 estimated in export price. In general, production faced a precipitous decrease. The pace of growth appeared the most rapid in 2021 with an increase of X%. Over the period under review, production reached the maximum level at $X.7B in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Exports of Mechanical Shovels, Excavators And Shovel Loaders

Exports from Myanmar

In 2022, mechanical shovel and excavator exports from Myanmar fell remarkably to X units, with a decrease of X% against 2021. Overall, exports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 when exports increased by X%. As a result, the exports attained the peak of X units. From 2017 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, mechanical shovel and excavator exports soared to $X in 2022. Over the period under review, exports, however, saw significant growth. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. As a result, the exports reached the peak of $X. From 2017 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Japan (X units), Chad (X units) and Singapore (X units) were the main destinations of mechanical shovel and excavator exports from Myanmar.

From 2013 to 2022, the biggest increases were recorded for Japan (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Chad ($X) emerged as the key foreign market for mechanical shovels, excavators and shovel loaders exports from Myanmar, comprising X% of total exports. The second position in the ranking was held by Japan ($X), with a X% share of total exports.

From 2013 to 2022, the average annual rate of growth in terms of value to Chad was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (X% per year) and Singapore (X% per year).

Export Prices by Country

The average mechanical shovel and excavator export price stood at $X per unit in 2022, surging by X% against the previous year. Overall, the export price posted significant growth. Over the period under review, the average export prices reached the maximum at $X per unit in 2017; however, from 2018 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Chad ($X per unit), while the average price for exports to Singapore ($X per unit) was amongst the lowest.

From 2013 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (X%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Mechanical Shovels, Excavators And Shovel Loaders

Imports into Myanmar

In 2022, overseas purchases of mechanical shovels, excavators and shovel loaders decreased by X% to X units, falling for the second consecutive year after four years of growth. In general, imports, however, continue to indicate a slight expansion. The most prominent rate of growth was recorded in 2013 when imports increased by X%. Over the period under review, imports attained the maximum at X units in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, mechanical shovel and excavator imports shrank remarkably to $X in 2022. Over the period under review, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when imports increased by X%. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports failed to regain momentum.

Imports by Country

China (X units), South Korea (X units) and Indonesia (X units) were the main suppliers of mechanical shovel and excavator imports to Myanmar, together accounting for X% of total imports. India, Thailand and Japan lagged somewhat behind, together comprising a further X%.

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

In value terms, China ($X), South Korea ($X) and Indonesia ($X) appeared to be the largest mechanical shovel and excavator suppliers to Myanmar, with a combined X% share of total imports. Thailand, Japan and India lagged somewhat behind, together comprising a further X%.

India, with a CAGR of X%, saw the highest rates of growth with regard to 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 mechanical shovel and excavator import price amounted to $X per unit, rising by X% against the previous year. Over the period under review, the import price, however, saw a perceptible reduction. Over the period under review, average import prices hit record highs at $X per unit in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Thailand ($X per unit), while the price for India ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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