India: Market for Vacuum Pumps and Air or Gas Compressors 2024

Market Size for Vacuum Pumps and Air or Gas Compressors in India

After four years of growth, the Indian market for vacuum pumps and air or gas compressors decreased by -2.4% to $X in 2022. Over the period under review, consumption, however, continues to indicate a strong expansion. Consumption of peaked at $X in 2021, and then dropped in the following year.

Production of Vacuum Pumps and Air or Gas Compressors in India

In value terms, production of vacuum pumps and air or gas compressors shrank modestly to $X in 2022 estimated in export price. Overall, production, however, showed a deep downturn. The pace of growth appeared the most rapid in 2015 with an increase of 26% against the previous year. Production of peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Exports of Vacuum Pumps and Air or Gas Compressors

Exports from India

In 2022, exports of vacuum pumps and air or gas compressors from India expanded to X units, with an increase of 2.1% on 2021 figures. In general, exports posted resilient growth. The pace of growth was the most pronounced in 2019 with an increase of 36%. Over the period under review, the exports of reached the maximum in 2022 and are expected to retain growth in the near future.

In value terms, exports of vacuum pumps and air or gas compressors surged to $X in 2022. Over the period under review, total exports indicated a notable expansion from 2012 to 2022: its value 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 +72.5% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 43%. Over the period under review, the exports of attained the maximum in 2022 and are likely to continue growth in years to come.

Exports by Country

The United States (X units), Indonesia (X units) and Italy (X units) were the main destinations of exports of vacuum pumps and air or gas compressors from India, with a combined 29% share of total exports. Brazil, Germany, China, South Korea, the Netherlands, France, South Africa, Poland, the United Arab Emirates and Nepal lagged somewhat behind, together accounting for a further 45%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Poland (with a CAGR of +120.4%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for vacuum pumps and air or gas compressors exports from India, comprising 21% of total exports. The second position in the ranking was taken by Germany ($X), with a 7.4% share of total exports. It was followed by China, with a 6.1% share.

From 2012 to 2022, the average annual growth rate of value to the United States amounted to +14.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+9.3% per year) and China (+10.5% per year).

Export Prices by Country

In 2022, the average export price for vacuum pumps and air or gas compressors amounted to $X per unit, increasing by 18% against the previous year. Over the period under review, the export price, however, showed a noticeable downturn. Over the period under review, the average export prices hit record highs at $X per unit in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per unit), while the average price for exports to Poland ($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 the United Arab Emirates (+1.9%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Vacuum Pumps and Air or Gas Compressors

Imports into India

In 2022, the amount of vacuum pumps and air or gas compressors imported into India reduced notably to X units, falling by -26.3% against the year before. In general, imports, however, saw a resilient increase. The pace of growth was the most pronounced in 2021 with an increase of 69% against the previous year. As a result, imports attained the peak of X units, and then declined rapidly in the following year.

In value terms, imports of vacuum pumps and air or gas compressors soared to $X in 2022. Over the period under review, total imports indicated a perceptible increase from 2012 to 2022: its value increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +51.9% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 30% against the previous year. Over the period under review, imports of attained the maximum in 2022 and are likely to see gradual growth in the near future.

Imports by Country

In 2022, China (X units) constituted the largest vacuum pump and air or gas compressor supplier to India, with a 66% share of total imports. Moreover, imports of vacuum pumps and air or gas compressors from China exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X units), sixfold. The UK (X units) ranked third in terms of total imports with a 5.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +13.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+19.3% per year) and the UK (+29.2% per year).

In value terms, China ($X) constituted the largest supplier of vacuum pumps and air or gas compressors to India, comprising 57% of total imports. The second position in the ranking was taken by Thailand ($X), with a 7.3% share of total imports. It was followed by South Korea, with a 4.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled +12.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+2.9% per year) and South Korea (+3.4% per year).

Import Prices by Country

In 2022, the average import price for vacuum pumps and air or gas compressors amounted to $X per unit, jumping by 59% against the previous year. Overall, the import price, however, showed a noticeable decrease. Over the period under review, average import prices hit record highs at $X per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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 Thailand ($X per unit), while the price for Taiwan (Chinese) ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+42.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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