Global Wood Drilling Machine Market 2023

Wood Drilling Machine Market Size

In 2021, the global wood drilling machine market decreased by -4.1% to $X, falling for the second consecutive year after three years of growth. In general, consumption saw a prominent increase. Over the period under review, the global market reached the peak level at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Wood Drilling Machine Production

In value terms, wood drilling machine production expanded notably to $X in 2021 estimated in export price. In general, production recorded prominent growth. The pace of growth appeared the most rapid in 2016 with an increase of 201% against the previous year. Global production peaked at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Wood Drilling Machine Exports

Exports

In 2021, the amount of drilling or morticing machines exported worldwide skyrocketed to X units, jumping by 133% on the previous year's figure. In general, exports enjoyed a buoyant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, wood drilling machine exports skyrocketed to $X in 2021. Overall, total exports indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +5.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +68.7% against 2015 indices. The pace of growth appeared the most rapid in 2016 with an increase of 20% against the previous year. Over the period under review, the global exports hit record highs in 2021 and are likely to continue growth in the immediate term.

Exports by Country

Gambia (X units) and China (X units) represented roughly 76% of total exports in 2021. It was distantly followed by Taiwan (Chinese) (X units), generating an 11% share of total exports. Singapore (X units) and the Netherlands (X units) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Gambia (with a CAGR of +2,443.3%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, China ($X) remains the largest wood drilling machine supplier worldwide, comprising 19% of global exports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with an 8.3% share of global exports. It was followed by Gambia, with a 0.2% share.

In China, wood drilling machine exports increased at an average annual rate of +25.7% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Taiwan (Chinese) (+3.3% per year) and Gambia (+308.9% per year).

Export Prices by Country

The average wood drilling machine export price stood at $X per unit in 2021, shrinking by -50.4% against the previous year. Overall, the export price recorded a deep contraction. The most prominent rate of growth was recorded in 2019 an increase of 20% against the previous year. Over the period under review, the average export prices attained the maximum at $X per unit in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Taiwan (Chinese) ($X per unit), while Gambia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (-10.1%), while the other global leaders experienced a decline in the export price figures.

Wood Drilling Machine Imports

Imports

In 2021, overseas purchases of drilling or morticing machines increased by 22% to X units for the first time since 2018, thus ending a two-year declining trend. Over the period under review, imports posted pronounced growth. The pace of growth appeared the most rapid in 2015 when imports increased by 123%. As a result, imports attained the peak of X units. From 2016 to 2021, the growth of global imports remained at a lower figure.

In value terms, wood drilling machine imports soared to $X in 2021. The total import value increased at an average annual rate of +2.5% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, the United States (X units), followed by Thailand (X units), Nigeria (X units), Taiwan (Chinese) (X units), India (X units), the Philippines (X units) and Singapore (X units) were the main importers of drilling or morticing machines, together committing 62% of total imports. Canada (X units), the UK (X units), Australia (X units), Poland (X units), France (X units) and Russia (X units) held a minor share of total imports.

From 2012 to 2021, the biggest increases were recorded for Nigeria (with a CAGR of +79.1%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the largest wood drilling machine importing markets worldwide were Nigeria ($X), Taiwan (Chinese) ($X) and the United States ($X), together accounting for 33% of global imports.

Among the main importing countries, Nigeria, with a CAGR of +67.6%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average wood drilling machine import price amounted to $X per unit, surging by 6.9% against the previous year. Over the period under review, the import price, however, saw a perceptible decrease. The pace of growth appeared the most rapid in 2016 when the average import price increased by 97% against the previous year. Over the period under review, average import prices attained the peak figure at $X per unit in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Poland ($X per unit), while Singapore ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (+1.3%), while the other global leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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