World - Drilling Or Morticing Machines - Market Analysis, Forecast, Size, Trends And Insights
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Driven by increasing demand worldwide, the market for drilling or morticing machines is projected to grow in volume and value terms. The article provides insights into consumption trends, production volumes, import and export patterns, and key players in the global market. Various countries' performance in terms of consumption, production, and trade are analyzed, along with growth rates and pricing trends. A comprehensive overview of the market dynamics from 2012 to 2022 and projections for the future until 2030 are also included.
Market Forecast
Driven by increasing demand for drilling or morticing machines worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +0.8% for the period from 2022 to 2030, which is projected to bring the market volume to 1.1M units by the end of 2030.
In value terms, the market is forecast to increase with an anticipated CAGR of +4.4% for the period from 2022 to 2030, which is projected to bring the market value to $2.4B (in nominal prices) by the end of 2030.
Consumption
World Consumption of Drilling Or Morticing Machines
In 2022, consumption of drilling or morticing machines increased by 16% to 989K units, rising for the second consecutive year after two years of decline. In general, the total consumption indicated a prominent expansion from 2012 to 2022: its volume increased at an average annual rate of +6.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +62.8% against 2020 indices. Global consumption peaked in 2022 and is likely to see gradual growth in the immediate term.
The global wood drilling machine market size dropped to $1.7B in 2022, falling by -8.3% 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 saw a resilient expansion. Over the period under review, the global market reached the maximum level at $2B in 2019; however, from 2020 to 2022, consumption failed to regain momentum.
Consumption By Country
The country with the largest volume of wood drilling machine consumption was the United States (268K units), accounting for 27% of total volume. Moreover, wood drilling machine consumption in the United States exceeded the figures recorded by the second-largest consumer, the UK (112K units), twofold. India (112K units) ranked third in terms of total consumption with an 11% share.
From 2012 to 2022, the average annual growth rate of volume in the United States amounted to +10.7%. The remaining consuming countries recorded the following average annual rates of consumption growth: the UK (+12.0% per year) and India (+4.1% per year).
In value terms, Japan ($541M) led the market, alone. The second position in the ranking was held by Russia ($148M). It was followed by the United States.
In Japan, the wood drilling machine market increased at an average annual rate of +13.5% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Russia (+18.1% per year) and the United States (+6.2% per year).
The countries with the highest levels of wood drilling machine per capita consumption in 2022 were Singapore (6.2 units per 1000 persons), Norway (3.8 units per 1000 persons) and the UK (1.7 units per 1000 persons).
From 2012 to 2022, the biggest increases were recorded for Russia (with a CAGR of +21.4%), while consumption for the other global leaders experienced more modest paces of growth.
Production
World Production of Drilling Or Morticing Machines
In 2022, the amount of drilling or morticing machines produced worldwide reduced to 593K units, declining by -12.8% against the year before. Overall, production, however, enjoyed strong growth. The most prominent rate of growth was recorded in 2017 when the production volume increased by 35% against the previous year. Over the period under review, global production reached the peak volume at 680K units in 2021, and then declined in the following year.
In value terms, wood drilling machine production fell to $1.8B in 2022 estimated in export price. In general, production, however, continues to indicate a notable expansion. The most prominent rate of growth was recorded in 2017 with an increase of 110% against the previous year. Over the period under review, global production hit record highs at $2.3B in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.
Production By Country
China (332K units) remains the largest wood drilling machine producing country worldwide, accounting for 56% of total volume. Moreover, wood drilling machine production in China exceeded the figures recorded by the second-largest producer, Germany (31K units), more than tenfold. Italy (27K units) ranked third in terms of total production with a 4.6% share.
In China, wood drilling machine production expanded at an average annual rate of +12.5% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Germany (+8.8% per year) and Italy (+2.4% per year).
Imports
World Imports of Drilling Or Morticing Machines
In 2022, supplies from abroad of drilling or morticing machines increased by 29% to 739K units, rising for the second consecutive year after two years of decline. In general, imports showed a prominent increase. The growth pace was the most rapid in 2021 when imports increased by 52% against the previous year. Global imports peaked in 2022 and are expected to retain growth in years to come.
In value terms, wood drilling machine imports shrank markedly to $500M in 2022. Overall, imports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of 31%. As a result, imports attained the peak of $608M, and then declined significantly in the following year.
Imports By Country
In 2022, the United States (275K units) was the key importer of drilling or morticing machines, creating 37% of total imports. The UK (114K units) took a 15% share (based on physical terms) of total imports, which put it in second place, followed by India (14%), Singapore (5.3%), Russia (5.3%) and Canada (4.8%). Norway (21K units) followed a long way behind the leaders.
From 2012 to 2022, average annual rates of growth with regard to wood drilling machine imports into the United States stood at +10.3%. At the same time, Singapore (+22.5%), Russia (+21.4%), Norway (+17.5%), the UK (+11.3%), Canada (+3.6%) and India (+2.6%) displayed positive paces of growth. Moreover, Singapore emerged as the fastest-growing importer imported in the world, with a CAGR of +22.5% from 2012-2022. While the share of the United States (+8 p.p.), the UK (+4.3 p.p.), Singapore (+3.9 p.p.), Russia (+3.7 p.p.) and Norway (+1.7 p.p.) increased significantly in terms of the global imports from 2012-2022, the share of Canada (-2.3 p.p.) and India (-8.6 p.p.) displayed negative dynamics.
In value terms, the United States ($50M), Russia ($36M) and the UK ($13M) appeared to be the countries with the highest levels of imports in 2022, together comprising 20% of global imports. Canada, India, Norway and Singapore lagged somewhat behind, together accounting for a further 4.9%.
Singapore, with a CAGR of +9.7%, recorded the highest rates of growth with regard to the value of imports, in terms of 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 wood drilling machine import price stood at $676 per unit in 2022, waning by -36.1% against the previous year. Over the period under review, the import price showed a abrupt decrease. The pace of growth appeared the most rapid in 2019 when the average import price increased by 60% against the previous year. Global import price peaked at $1,534 per unit in 2013; however, from 2014 to 2022, import prices failed to regain momentum.
Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Russia ($907 per unit), while India ($46 per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (+1.0%), while the other global leaders experienced a decline in the import price figures.
Exports
World Exports of Drilling Or Morticing Machines
In 2022, after ten years of growth, there was significant decline in overseas shipments of drilling or morticing machines, when their volume decreased by -14.2% to 344K units. In general, exports, however, continue to indicate a prominent increase. The most prominent rate of growth was recorded in 2014 when exports increased by 38% against the previous year. Over the period under review, the global exports reached the maximum at 401K units in 2021, and then dropped in the following year.
In value terms, wood drilling machine exports declined to $744M in 2022. Overall, total exports indicated a perceptible increase from 2012 to 2022: its value increased at an average annual rate of +3.8% 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 +54.4% against 2015 indices. The most prominent rate of growth was recorded in 2016 when exports increased by 20% against the previous year. Over the period under review, the global exports hit record highs at $808M in 2021, and then shrank in the following year.
Exports By Country
China prevails in exports structure, finishing at 263K units, which was near 76% of total exports in 2022. It was distantly followed by Germany (18K units), constituting a 5.4% share of total exports. Italy (15K units), Singapore (12K units) and the United States (7K units) held a little share of total exports.
China was also the fastest-growing in terms of the drilling or morticing machines exports, with a CAGR of +22.3% from 2012 to 2022. At the same time, Singapore (+11.9%), Germany (+7.5%), Italy (+4.4%) and the United States (+2.3%) displayed positive paces of growth. From 2012 to 2022, the share of China increased by +43 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.
In value terms, the largest wood drilling machine supplying countries worldwide were Germany ($203M), Italy ($193M) and China ($160M), with a combined 75% share of global exports.
China, with a CAGR of +23.1%, recorded the highest growth rate of the value of exports, among 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 wood drilling machine export price amounted to $2,162 per unit, picking up by 7.3% against the previous year. Overall, the export price, however, recorded a deep setback. The most prominent rate of growth was recorded in 2019 an increase of 12% against the previous year. The global export price peaked at $5,127 per unit in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.
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 Italy ($12,687 per unit), while Singapore ($188 per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+1.4%), while the other global leaders experienced mixed trends in the export price figures.
This report provides an in-depth analysis of the global wood drilling machine market. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 28491267 - Drilling or morticing machines for working wood, cork, bone, h ard rubber, hard plastics or similar hard materials
Country coverage:
Worldwide - the report contains statistical data for 200 countries and includes detailed profiles of the 50 largest consuming countries:
- USA
- China
- Japan
- Germany
- United Kingdom
- France
- Brazil
- Italy
- Russian Federation
- India
- Canada
- Australia
- Republic of Korea
- Spain
- Mexico
- Indonesia
- Netherlands
- Turkey
- Saudi Arabia
- Switzerland
- Sweden
- Nigeria
- Poland
- Belgium
- Argentina
- Norway
- Austria
- Thailand
- United Arab Emirates
- Colombia
- Denmark
- South Africa
- Malaysia
- Israel
- Singapore
- Egypt
- Philippines
- Finland
- Chile
- Ireland
- Pakistan
- Greece
- Portugal
- Kazakhstan
- Algeria
- Czech Republic
- Qatar
- Peru
- Romania
- Vietnam
+ the largest producing countries
Data coverage:
- Global market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Global production, split by region and country
- Global trade (exports and imports)
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- CONSUMPTION BY COUNTRY
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. GLOBAL PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
- PRODUCTION BY COUNTRY
8. GLOBAL IMPORTS
The Largest Importers on The Market and How They Succeed
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. GLOBAL EXPORTS
The Largest Exporters on The Market and How They Succeed
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
11. COUNTRY PROFILES
The Largest Markets And Their Profiles
This Chapter is Available Only for the Professional Edition PRO- United States
- China
- Japan
- Germany
- United Kingdom
- France
- Brazil
- Italy
- Russian Federation
- India
- Canada
- Australia
- Republic of Korea
- Spain
- Mexico
- Indonesia
- Netherlands
- Turkey
- Saudi Arabia
- Switzerland
- Sweden
- Nigeria
- Poland
- Belgium
- Argentina
- Norway
- Austria
- Thailand
- United Arab Emirates
- Colombia
- Denmark
- South Africa
- Malaysia
- Israel
- Singapore
- Egypt
- Philippines
- Finland
- Chile
- Ireland
- Pakistan
- Greece
- Portugal
- Kazakhstan
- Algeria
- Czech Republic
- Qatar
- Peru
- Romania
- Vietnam
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LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption, By Country, 2018–2023
- Production, In Physical Terms, By Country, 2012–2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Destination, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Origin, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Consumption, By Country, 2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Production, By Country, 2023
- Production, In Physical Terms, By Country, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, 2012–2023
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