New Zealand: Hollow Drill Bar Market 2024

Hollow Drill Bar Market Size in New Zealand

The New Zealand hollow drill bar market dropped remarkably to $X in 2022, with a decrease of X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption continues to indicate a deep slump. As a result, consumption reached the peak level of $X. From 2015 to 2022, the growth of the market remained at a lower figure.

Hollow Drill Bar Exports

Exports from New Zealand

In 2022, the amount of hollow drill bars and rods exported from New Zealand declined notably to X tons, which is down by X% compared with the previous year. Overall, exports saw a pronounced shrinkage. The pace of growth appeared the most rapid in 2021 with an increase of X%. Over the period under review, the exports hit record highs at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, hollow drill bar exports dropped markedly to $X in 2022. Over the period under review, exports saw a abrupt descent. The pace of growth was the most pronounced in 2019 when exports increased by X%. As a result, the exports reached the peak of $X. From 2020 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Tonga (X tons) was the main destination for hollow drill bar exports from New Zealand, with a X% share of total exports. Moreover, hollow drill bar exports to Tonga exceeded the volume sent to the second major destination, Fiji (X kg), threefold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Tonga stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Fiji (X% per year) and Australia (X% per year).

In value terms, Tonga ($X) emerged as the key foreign market for hollow drill bars and rods exports from New Zealand, comprising X% of total exports. The second position in the ranking was taken by Fiji ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Tonga amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Fiji (X% per year) and Australia (X% per year).

Export Prices by Country

The average hollow drill bar export price stood at $X per ton in 2022, remaining stable against the previous year. In general, the export price, however, saw a perceptible curtailment. 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 ton in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Tonga ($X per ton), while the average price for exports to Fiji ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Fiji (X%), while the prices for the other major destinations experienced a decline.

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Hollow Drill Bar Imports

Imports into New Zealand

In 2022, imports of hollow drill bars and rods into New Zealand fell sharply to X tons, declining by X% on the year before. Overall, imports recorded a deep slump. The most prominent rate of growth was recorded in 2014 when imports increased by X%. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, hollow drill bar imports dropped sharply to $X in 2022. Over the period under review, imports continue to indicate a abrupt descent. The most prominent rate of growth was recorded in 2014 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Imports by Country

The United States (X tons), Germany (X tons) and Sweden (X tons) were the main suppliers of hollow drill bar imports to New Zealand, with a combined X% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Sweden (with a CAGR of X%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, the United States ($X) constituted the largest supplier of hollow drill bars and rods to New Zealand, comprising X% of total imports. The second position in the ranking was taken by Germany ($X), with a X% share of total imports. It was followed by Sweden, with a X% share.

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

Import Prices by Country

In 2022, the average hollow drill bar import price amounted to $X per ton, with an increase of X% against the previous year. Over the period under review, import price indicated a tangible increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, hollow drill bar import price increased by X% against 2017 indices. The most prominent rate of growth was recorded in 2020 when the average import price increased by X% against the previous year. The import price peaked in 2022 and is expected to retain growth in the immediate term.

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 ($X per ton), while the price for Austria ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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