United Kingdom: Boring Machinery Market 2024

Boring Machinery Market Size in the UK

The UK boring machinery market dropped modestly to $X in 2022, therefore, remained relatively stable against the previous year. In general, consumption, however, enjoyed significant growth. Boring machinery consumption peaked at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Boring Machinery Production in the UK

In value terms, boring machinery production declined modestly to $X in 2022 estimated in export price. In general, production continues to indicate a drastic downturn. The most prominent rate of growth was recorded in 2019 with an increase of X%. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Boring Machinery Exports

Exports from the UK

In 2022, after two years of growth, there was significant decline in overseas shipments of boring or sinking machinery, when their volume decreased by X% to X units. Overall, exports recorded a noticeable reduction. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, the exports reached the peak of X units, and then fell notably in the following year.

In value terms, boring machinery exports declined notably to $X in 2022. Over the period under review, exports recorded a pronounced descent. The most prominent rate of growth was recorded in 2018 when exports increased by X% against the previous year. As a result, the exports attained the peak of $X. From 2019 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The Netherlands (X units) was the main destination for boring machinery exports from the UK, accounting for a X% share of total exports. Moreover, boring machinery exports to the Netherlands exceeded the volume sent to the second major destination, the United States (X units), fivefold. Norway (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 the Netherlands totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and Norway (X% per year).

In value terms, the largest markets for boring machinery exported from the UK were the Netherlands ($X), the United States ($X) and Norway ($X), with a combined X% share of total exports. China, the United Arab Emirates, France, Germany, Libya, Oman, Ireland and South Sudan lagged somewhat behind, together accounting for a further X%.

In terms of the main countries of destination, Libya, with a CAGR of X%, recorded the highest growth rate of the value of exports, 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, growing by X% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average export price increased by X% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per unit in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.

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

Boring Machinery Imports

Imports into the UK

In 2022, boring machinery imports into the UK contracted remarkably to X units, waning by X% on 2021. Over the period under review, imports showed a perceptible reduction. The most prominent rate of growth was recorded in 2014 with an increase of X%. Imports peaked at X units in 2015; however, from 2016 to 2022, imports remained at a lower figure.

In value terms, boring machinery imports reduced to $X in 2022. Overall, imports continue to indicate a noticeable slump. The most prominent rate of growth was recorded in 2019 when imports increased by X%. As a result, imports reached the peak of $X. From 2020 to 2022, the growth of imports remained at a lower figure.

Imports by Country

The United States (X units), China (X units) and Germany (X units) were the main suppliers of boring machinery imports to the UK, together accounting for X% of total imports. New Zealand, Italy, Singapore, the Netherlands, Nigeria, Norway, Austria and Spain lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by New Zealand (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

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

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

Import Prices by Country

In 2022, the average boring machinery import price amounted to $X per unit, growing by X% against the previous year. In general, the import price, however, saw a mild decline. The pace of growth was the most pronounced in 2019 an increase of X% against the previous year. As a result, import price reached the peak level of $X per unit. From 2020 to 2022, the average 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 Spain ($X per unit), while the price for Nigeria ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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