Self-Propelled Boring Machinery Market

The article provides a detailed forecast for the self-propelled boring machinery market from 2022 to 2030. It includes analysis of market trends in consumption and production, with an anticipated CAGR of +1.2% in unit volume and +3.4% in market value. Key consuming countries include Italy, China, and the United States, while top producers are China, Italy, and the United States. Trends in imports and exports are also examined, with China leading in exports and the United States being a major importer. Overall, the market is expected to see gradual growth in the coming years.

Market Forecast

Driven by increasing demand for self-propelled boring or sinking machinery worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +1.2% for the period from 2022 to 2030, which is projected to bring the market volume to 33K units by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +3.4% for the period from 2022 to 2030, which is projected to bring the market value to $8.3B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Self-Propelled Boring Or Sinking Machinery

In 2022, consumption of self-propelled boring or sinking machinery decreased by -6% to 30K units for the first time since 2019, thus ending a two-year rising trend. Overall, consumption, however, saw mild growth. Over the period under review, global consumption reached the peak volume at 32K units in 2021, and then shrank in the following year.

The global self-propelled boring machinery market revenue reduced to $6.4B in 2022, waning by -7.4% 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). In general, consumption saw a relatively flat trend pattern. Over the period under review, the global market reached the peak level at $6.9B in 2021, and then dropped in the following year.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were Italy (5.5K units), China (5.1K units) and the United States (1.9K units), with a combined 41% share of global consumption. India, Russia, Saudi Arabia, Australia, Germany, Panama, Japan, Pakistan, Bangladesh and France lagged somewhat behind, together accounting for a further 26%.

From 2012 to 2022, the biggest increases were recorded for Panama (with a CAGR of +40.7%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, Italy ($927M), China ($919M) and India ($538M) constituted the countries with the highest levels of market value in 2022, with a combined 37% share of the global market. The United States, Australia, Russia, Germany, Pakistan, France, Japan, Panama, Bangladesh and Saudi Arabia lagged somewhat behind, together comprising a further 26%.

Panama, with a CAGR of +40.7%, saw the highest growth rate of market size among the main consuming countries over the period under review, while market for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of self-propelled boring machinery per capita consumption in 2022 were Panama (130 units per million persons), Italy (94 units per million persons) and Australia (32 units per million persons).

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the key consuming countries, was attained by Panama (with a CAGR of +38.4%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Self-Propelled Boring Or Sinking Machinery

In 2022, production of self-propelled boring or sinking machinery increased by 1.7% to 36K units, rising for the sixth consecutive year after two years of decline. Overall, the total production indicated a perceptible expansion from 2012 to 2022: its volume increased at an average annual rate of +3.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +73.8% against 2016 indices. The growth pace was the most rapid in 2017 when the production volume increased by 19% against the previous year. Over the period under review, global production hit record highs in 2022 and is likely to see gradual growth in the immediate term.

In value terms, self-propelled boring machinery production reached $6.6B in 2022 estimated in export price. The total output value increased at an average annual rate of +1.3% from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2018 when the production volume increased by 19%. As a result, production attained the peak level of $6.7B. From 2019 to 2022, global production growth remained at a lower figure.

Production By Country

The countries with the highest volumes of production in 2022 were China (12K units), Italy (6.6K units) and the United States (3.8K units), together accounting for 64% of global production. Germany, India, Japan, Finland, Sweden and Panama lagged somewhat behind, together accounting for a further 16%.

From 2012 to 2022, the biggest increases were recorded for Panama (with a CAGR of +35.0%), while production for the other global leaders experienced more modest paces of growth.

Imports

World Imports of Self-Propelled Boring Or Sinking Machinery

Global self-propelled boring machinery imports expanded sharply to 14K units in 2022, surging by 13% on the previous year's figure. Over the period under review, imports, however, saw a mild shrinkage. The growth pace was the most rapid in 2017 when imports increased by 17% against the previous year. Over the period under review, global imports hit record highs at 17K units in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, self-propelled boring machinery imports rose remarkably to $3.2B in 2022. In general, imports, however, continue to indicate a perceptible slump. The pace of growth appeared the most rapid in 2021 with an increase of 27%. Over the period under review, global imports hit record highs at $4.4B in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports By Country

In 2022, the United States (1.7K units), followed by Russia (950 units), Saudi Arabia (894 units), Australia (894 units), India (693 units) and Canada (650 units) represented the key importers of self-propelled boring or sinking machinery, together achieving 41% of total imports. The following importers - South Africa (458 units), Turkey (325 units), Chile (306 units), the UK (273 units), Indonesia (256 units), Brazil (254 units) and Germany (239 units) - together made up 15% of total imports.

From 2012 to 2022, the biggest increases were recorded for the UK (with a CAGR of +15.1%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($348M), Australia ($274M) and India ($212M) were the countries with the highest levels of imports in 2022, with a combined 26% share of global imports. Canada, Russia, South Africa, Brazil, Chile, the UK, Turkey, Germany, Saudi Arabia and Indonesia lagged somewhat behind, together comprising a further 31%.

The UK, with a CAGR of +13.0%, recorded the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

The average self-propelled boring machinery import price stood at $225,524 per unit in 2022, declining by -7% against the previous year. Overall, the import price continues to indicate a mild setback. The most prominent rate of growth was recorded in 2018 an increase of 12%. Over the period under review, average import prices hit record highs at $261,894 per unit in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Brazil ($399,091 per unit), while Saudi Arabia ($49,292 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+1.8%), while the other global leaders experienced a decline in the import price figures.

Exports

World Exports of Self-Propelled Boring Or Sinking Machinery

In 2022, approx. 20K units of self-propelled boring or sinking machinery were exported worldwide; with an increase of 27% against 2021 figures. In general, total exports indicated a pronounced expansion from 2012 to 2022: its volume increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +80.4% against 2020 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 42%. The global exports peaked in 2022 and are likely to see gradual growth in years to come.

In value terms, self-propelled boring machinery exports amounted to $3.4B in 2022. Over the period under review, exports, however, recorded a perceptible setback. The pace of growth was the most pronounced in 2021 when exports increased by 33%. Over the period under review, the global exports hit record highs at $4.2B in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports By Country

China represented the key exporter of self-propelled boring or sinking machinery in the world, with the volume of exports finishing at 7.4K units, which was near 38% of total exports in 2022. The United States (3.7K units) held the second position in the ranking, distantly followed by Italy (1.2K units) and Germany (1K units). All these countries together held near 30% share of total exports. Sweden (704 units), Finland (619 units), Austria (591 units) and Singapore (337 units) followed a long way behind the leaders.

Exports from China increased at an average annual rate of +6.7% from 2012 to 2022. At the same time, Sweden (+17.9%), Singapore (+12.1%), Austria (+8.0%), Finland (+4.6%) and the United States (+2.3%) displayed positive paces of growth. Moreover, Sweden emerged as the fastest-growing exporter exported in the world, with a CAGR of +17.9% from 2012-2022. Germany experienced a relatively flat trend pattern. By contrast, Italy (-2.7%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China and Sweden increased by +10 and +2.6 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($642M), the United States ($380M) and Italy ($357M) were the countries with the highest levels of exports in 2022, with a combined 40% share of global exports. Sweden, Germany, Finland, Austria and Singapore lagged somewhat behind, together comprising a further 33%.

Sweden, with a CAGR of +18.9%, recorded the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

In 2022, the average self-propelled boring machinery export price amounted to $173,565 per unit, reducing by -12% against the previous year. Over the period under review, the export price recorded a deep reduction. The pace of growth was the most pronounced in 2020 when the average export price increased by 2.3% against the previous year. Over the period under review, the average export prices attained the maximum at $298,633 per unit in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Sweden ($504,769 per unit), while China ($86,423 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sweden (+0.9%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform