India: Market for Turbo, Rotary and Reciporating Displacement Compressors 2024

Market Size for Turbo, Rotary and Reciporating Displacement Compressors in India

The Indian market for turbo, rotary and reciporating displacement compressors reached $X in 2022, with an increase of 10% against the previous year. Overall, consumption recorded a remarkable increase. Over the period under review, the market reached the maximum level in 2022 and is likely to continue growth in the immediate term.

Production of Turbo, Rotary and Reciporating Displacement Compressors in India

In value terms, production of turbo, rotary and reciporating displacement compressors rose rapidly to $X in 2022 estimated in export price. In general, production enjoyed a resilient expansion. The pace of growth was the most pronounced in 2019 with an increase of 101% against the previous year. Production of peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Exports of Turbo, Rotary and Reciporating Displacement Compressors

Exports from India

In 2022, approx. X units of turbo, rotary and reciporating displacement compressors were exported from India; increasing by 2.4% against the year before. In general, exports saw a resilient increase. The most prominent rate of growth was recorded in 2015 with an increase of 37%. Over the period under review, the exports of reached the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, exports of turbo, rotary and reciporating displacement compressors surged to $X in 2022. Overall, total exports indicated a perceptible increase from 2012 to 2022: its value increased at an average annual rate of +3.1% 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 +90.2% against 2019 indices. The pace of growth appeared the most rapid in 2021 with an increase of 54%. Over the period under review, the exports of hit record highs in 2022 and are likely to see gradual growth in the immediate term.

Exports by Country

The United States (X units), Italy (X units) and Germany (X units) were the main destinations of exports of turbo, rotary and reciporating displacement compressors from India, together accounting for 35% of total exports. China, Brazil, the Netherlands, South Korea, Poland, South Africa, Kuwait, Thailand, the United Arab Emirates and Spain lagged somewhat behind, together comprising a further 45%.

From 2012 to 2022, the biggest increases were recorded for Poland (with a CAGR of +133.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for turbo, rotary and reciporating displacement compressors exports from India, comprising 25% of total exports. The second position in the ranking was taken by Germany ($X), with a 9% share of total exports. It was followed by China, with a 6.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States amounted to +22.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+8.7% per year) and China (+11.1% per year).

Export Prices by Country

The average export price for turbo, rotary and reciporating displacement compressors stood at $X per unit in 2022, jumping by 16% against the previous year. In general, the export price, however, showed a pronounced decline. Over the period under review, the average export prices hit record highs at $X per unit in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2022, 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 States (+1.8%), while the prices for the other major destinations experienced a decline.

Imports of Turbo, Rotary and Reciporating Displacement Compressors

Imports into India

In 2022, imports of turbo, rotary and reciporating displacement compressors into India rose rapidly to X units, increasing by 5.7% against the year before. Over the period under review, imports saw a prominent increase. The pace of growth appeared the most rapid in 2021 with an increase of 70%. Over the period under review, imports of reached the peak figure in 2022 and are likely to see steady growth in the immediate term.

In value terms, imports of turbo, rotary and reciporating displacement compressors surged to $X in 2022. Overall, total imports indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of +6.2% 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 +72.2% against 2020 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 35% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in the near future.

Imports by Country

In 2022, China (X units) constituted the largest supplier of turbo, rotary and reciporating displacement compressor to India, with a 82% share of total imports. Moreover, imports of turbo, rotary and reciporating displacement compressors from China exceeded the figures recorded by the second-largest supplier, Thailand (X units), ninefold. The third position in this ranking was taken by South Korea (X units), with a 3.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +20.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+5.6% per year) and South Korea (+6.0% per year).

In value terms, China ($X) constituted the largest supplier of turbo, rotary and reciporating displacement compressors to India, comprising 55% of total imports. The second position in the ranking was held by Thailand ($X), with a 10% share of total imports. It was followed by South Korea, with a 4.9% share.

From 2012 to 2022, the average annual growth rate of value from China amounted to +13.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+4.5% per year) and South Korea (+6.5% per year).

Import Prices by Country

In 2022, the average import price for turbo, rotary and reciporating displacement compressors amounted to $X per unit, increasing by 21% against the previous year. In general, the import price, however, saw a abrupt descent. The import price peaked 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 Japan ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+0.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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