India: Metal Broaching Machine Market 2024

Metal Broaching Machine Market Size in India

For the third consecutive year, the Indian metal broaching machine market recorded growth in sales value, which increased by 0.2% to $X in 2021. In general, consumption saw a strong expansion. Over the period under review, the market reached the maximum level in 2021 and is expected to retain growth in years to come.

Metal Broaching Machine Production in India

In value terms, metal broaching machine production dropped markedly to $X in 2021 estimated in export price. Overall, production, however, recorded a noticeable shrinkage. The pace of growth appeared the most rapid in 2016 with an increase of 658% against the previous year. As a result, production reached the peak level of $X. From 2017 to 2021, production growth failed to regain momentum.

Metal Broaching Machine Exports

Exports from India

For the fourth year in a row, India recorded growth in overseas shipments of broaching machines for working metal, which increased by 422% to X units in 2021. Overall, exports recorded a significant increase. The most prominent rate of growth was recorded in 2016 when exports increased by 860% against the previous year. Over the period under review, the exports reached the peak figure in 2021 and are expected to retain growth in the immediate term.

In value terms, metal broaching machine exports surged to $X in 2021. Over the period under review, exports, however, recorded a abrupt downturn. The pace of growth was the most pronounced in 2013 when exports increased by 206%. As a result, the exports reached the peak of $X. From 2014 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Botswana (X units) was the main destination for metal broaching machine exports from India, accounting for a 85% share of total exports. Moreover, metal broaching machine exports to Botswana exceeded the volume sent to the second major destination, Nepal (X units), ninefold.

From 2012 to 2021, the average annual growth rate of volume to Botswana was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Nepal (+35.2% per year) and Bahrain (+60.2% per year).

In value terms, the largest markets for metal broaching machine exported from India were Nepal ($X), Bahrain ($X) and Botswana ($X), with a combined 18% share of total exports.

Bahrain, with a CAGR of +28.1%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average metal broaching machine export price amounted to $X per unit, which is down by -46% against the previous year. In general, the export price recorded a dramatic shrinkage. The growth pace was the most rapid in 2017 an increase of 922%. The export price peaked at $X per unit in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Bahrain ($X per unit), while the average price for exports to Botswana ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (+24.1%), while the prices for the other major destinations experienced a decline.

Metal Broaching Machine Imports

Imports into India

Metal broaching machine imports into India soared to X units in 2021, with an increase of 201% against the previous year. Over the period under review, imports continue to indicate a significant increase. The growth pace was the most rapid in 2019 when imports increased by 389%. Over the period under review, imports reached the peak figure in 2021 and are likely to continue growth in years to come.

In value terms, metal broaching machine imports contracted markedly to $X in 2021. In general, imports, however, saw a deep downturn. The pace of growth was the most pronounced in 2018 when imports increased by 109%. Over the period under review, imports reached the maximum at $X in 2015; however, from 2016 to 2021, imports remained at a lower figure.

Imports by Country

Sri Lanka (X units), the United States (X units) and China (X units) were the main suppliers of metal broaching machine imports to India, with a combined 78% share of total imports. South Korea, Germany, Japan and Italy lagged somewhat behind, together accounting for a further 19%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by South Korea (with a CAGR of +53.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Japan ($X) and Germany ($X) constituted the largest metal broaching machine suppliers to India, together comprising 76% of total imports.

The United States, with a CAGR of +8.4%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average metal broaching machine import price stood at $X per unit in 2021, with a decrease of -79% against the previous year. In general, the import price saw a significant decrease. The most prominent rate of growth was recorded in 2018 when the average import price increased by 371%. The import price peaked at $X per unit in 2015; however, from 2016 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Japan ($X per unit), while the price for Sri Lanka ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+213.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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