India: Metal Vehicle Lock Market 2025

Metal Vehicle Lock Market Size in India

In 2021, the Indian metal vehicle lock market decreased by -1.1% to $X, falling for the fourth year in a row after two years of growth. The market value increased at an average annual rate of +1.5% over the period from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level of $X. From 2018 to 2021, the growth of the market failed to regain momentum.

Metal Vehicle Lock Production in India

In value terms, metal vehicle lock production expanded modestly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.2% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2017 when the production volume increased by 23%. As a result, production reached the peak level of $X. From 2018 to 2021, production growth failed to regain momentum.

Metal Vehicle Lock Exports

Exports from India

Metal vehicle lock exports from India skyrocketed to X tons in 2021, jumping by 83% against the year before. In general, total exports indicated a resilient expansion from 2012 to 2021: its volume increased at an average annual rate of +5.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, metal vehicle lock exports skyrocketed to $X in 2021. Over the period under review, exports recorded a prominent expansion. The most prominent rate of growth was recorded in 2015 when exports increased by 77% against the previous year. Over the period under review, the exports hit record highs in 2021 and are likely to see steady growth in the near future.

Exports by Country

The United States (X tons), the UK (X tons) and Bangladesh (X tons) were the main destinations of metal vehicle lock exports from India, together accounting for 38% of total exports. These countries were followed by Thailand, Japan, Indonesia, China, Germany, Brazil, the Czech Republic, Italy, Turkey and South Africa, which together accounted for a further 43%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Turkey (with a CAGR of +93.3%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for base metal motor vehicle locks exports from India, comprising 29% of total exports. The second position in the ranking was held by the UK ($X), with an 8.3% share of total exports. It was followed by Thailand, with a 7.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States amounted to +39.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+8.3% per year) and Thailand (+53.6% per year).

Export Prices by Country

In 2021, the average metal vehicle lock export price amounted to $X per ton, dropping by -21.7% against the previous year. Over the period under review, the export price, however, continues to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2014 an increase of 36% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2020, and then fell notably in the following year.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was the United States ($X per ton), while the average price for exports to Bangladesh ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Indonesia (+15.1%), while the prices for the other major destinations experienced more modest paces of growth.

Metal Vehicle Lock Imports

Imports into India

In 2021, imports of base metal motor vehicle locks into India soared to X tons, with an increase of 45% on the previous year. Overall, imports, however, continue to indicate a deep reduction. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, metal vehicle lock imports surged to $X in 2021. Over the period under review, imports, however, showed a relatively flat trend pattern. Imports peaked at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

China (X tons), South Korea (X tons) and Germany (X tons) were the main suppliers of metal vehicle lock imports to India, together accounting for 75% of total imports. Thailand, Spain, Hong Kong SAR, Mexico, France, Japan and the Czech Republic lagged somewhat behind, together accounting for a further 20%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Spain (with a CAGR of +34.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), South Korea ($X) and Germany ($X) constituted the largest metal vehicle lock suppliers to India, with a combined 73% share of total imports. These countries were followed by Thailand, France, Hong Kong SAR, Spain, Mexico, Japan and the Czech Republic, which together accounted for a further 22%.

Among the main suppliers, Spain, with a CAGR of +40.7%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average metal vehicle lock import price stood at $X per ton in 2021, stabilizing at the previous year. Over the period under review, the import price saw a strong expansion. The pace of growth appeared the most rapid in 2017 an increase of 49% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2018; however, from 2019 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Thailand ($X per ton), while the price for Spain ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Romania (+17.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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