India: Trailer And Semi-Trailer Market 2024

Trailer And Semi-Trailer Market Size in India

The Indian trailer and semi-trailer market rose slightly to $X in 2022, with an increase of 1.5% against the previous year. The market value increased at an average annual rate of +1.5% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The growth pace was the most rapid in 2017 when the market value increased by 9%. Trailer and semi-trailer consumption peaked at $X in 2020; afterwards, it flattened through to 2022.

Trailer And Semi-Trailer Production in India

In value terms, trailer and semi-trailer production reached $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.5% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The pace of growth was the most pronounced in 2017 when the production volume increased by 9.2% against the previous year. Trailer and semi-trailer production peaked at $X in 2020; afterwards, it flattened through to 2022.

Trailer And Semi-Trailer Exports

Exports from India

In 2022, overseas shipments of cargo trailers and semi-trailers decreased by -87.6% to X units for the first time since 2018, thus ending a three-year rising trend. In general, exports saw a noticeable contraction. The most prominent rate of growth was recorded in 2019 with an increase of 259%. The exports peaked at X units in 2021, and then declined sharply in the following year.

In value terms, trailer and semi-trailer exports contracted dramatically to $X in 2022. Overall, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 56% against the previous year. The exports peaked at $X in 2021, and then fell markedly in the following year.

Exports by Country

The United States (X units), Tanzania (X units) and Maldives (X units) were the main destinations of trailer and semi-trailer exports from India, with a combined 32% share of total exports. Germany, Kenya, Australia, Uganda, Bangladesh, Nepal, Malaysia, Nigeria, France and Peru lagged somewhat behind, together comprising a further 48%.

From 2012 to 2022, the biggest increases were recorded for Peru (with a CAGR of +125.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Bangladesh ($X), Kenya ($X) and Australia ($X) were the largest markets for trailer and semi-trailer exported from India worldwide, with a combined 37% share of total exports. Nigeria, Nepal, Maldives, Germany, Tanzania, Malaysia, the United States, Uganda, Peru and France lagged somewhat behind, together accounting for a further 31%.

Among the main countries of destination, the United States, with a CAGR of +95.0%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average trailer and semi-trailer export price stood at $X per unit in 2022, jumping by 316% against the previous year. Overall, the export price showed a measured expansion. Over the period under review, the average export prices reached the maximum at $X per unit in 2013; however, from 2014 to 2022, 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 Bangladesh ($X per unit), while the average price for exports to France ($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 Nigeria (+17.3%), while the prices for the other major destinations experienced more modest paces of growth.

Trailer And Semi-Trailer Imports

Imports into India

After three years of growth, purchases abroad of cargo trailers and semi-trailers decreased by -75.3% to X units in 2022. Over the period under review, imports, however, showed a slight increase. The most prominent rate of growth was recorded in 2014 when imports increased by 1,260%. Over the period under review, imports hit record highs at X units in 2021, and then fell sharply in the following year.

In value terms, trailer and semi-trailer imports contracted markedly to $X in 2022. Overall, imports recorded a slight slump. The growth pace was the most rapid in 2014 with an increase of 313%. Imports peaked at $X in 2015; however, from 2016 to 2022, imports remained at a lower figure.

Imports by Country

The United States (X units), Israel (X units) and China (X units) were the main suppliers of trailer and semi-trailer imports to India, together accounting for 53% of total imports.

From 2012 to 2022, the biggest increases were recorded for Israel (with a CAGR of +293.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest trailer and semi-trailer suppliers to India were the United States ($X), Israel ($X) and the Netherlands ($X), with a combined 54% share of total imports.

Among the main suppliers, Israel, with a CAGR of +270.5%, recorded the highest growth rate of 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

In 2022, the average trailer and semi-trailer import price amounted to $X per unit, increasing by 165% against the previous year. Over the period under review, the import price, however, recorded a perceptible setback. Over the period under review, average import prices reached the maximum at $X per unit in 2013; however, from 2014 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 Malaysia ($X per unit), while the price for the Philippines ($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 (+27.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform