India: Shaft Coupling Market 2024

Shaft Coupling Market Size in India

The Indian shaft coupling market totaled $X in 2022, therefore, remained relatively stable against the previous year. Overall, consumption, however, showed a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Shaft Coupling Production in India

In value terms, shaft coupling production amounted to $X in 2022 estimated in export price. Over the period under review, production, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 with an increase of 13% against the previous year. As a result, production attained the peak level of $X. From 2014 to 2022, production growth failed to regain momentum.

Shaft Coupling Exports

Exports from India

In 2022, the amount of clutches and shaft couplings exported from India rose remarkably to X tons, increasing by 12% on 2021. In general, total exports indicated a temperate increase from 2012 to 2022: its volume increased at an average annual rate of +2.7% 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 +69.4% against 2017 indices. The pace of growth was the most pronounced in 2021 with an increase of 20%. Over the period under review, the exports attained the peak figure in 2022 and are likely to see gradual growth in years to come.

In value terms, shaft coupling exports reached $X in 2022. The total export value increased at an average annual rate of +2.2% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 when exports increased by 23% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in years to come.

Exports by Country

The United States (X tons), Germany (X tons) and the United Arab Emirates (X tons) were the main destinations of shaft coupling exports from India, with a combined 45% share of total exports. Italy, China, Canada, South Korea, Mexico, the UK, France, South Africa, Brazil and Saudi Arabia lagged somewhat behind, together accounting for a further 28%.

From 2012 to 2022, the biggest increases were recorded for Mexico (with a CAGR of +37.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Germany ($X) and Italy ($X) constituted the largest markets for shaft coupling exported from India worldwide, with a combined 45% share of total exports. China, Canada, South Korea, Mexico, the United Arab Emirates, the UK, France, South Africa, Brazil and Saudi Arabia lagged somewhat behind, together accounting for a further 27%.

Mexico, with a CAGR of +36.0%, saw the highest rates of growth with regard to the value of exports, in terms of 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 2022, the average shaft coupling export price amounted to $X per ton, which is down by -5.6% against the previous year. In general, the export price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 an increase of 14%. The export price peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Mexico ($X per ton), while the average price for exports to the United Arab Emirates ($X per ton) 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 a decline.

Shaft Coupling Imports

Imports into India

Shaft coupling imports into India expanded rapidly to X tons in 2022, increasing by 13% against the previous year. The total import volume increased at an average annual rate of +2.2% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when imports increased by 46%. Imports peaked in 2022 and are likely to continue growth in the immediate term.

In value terms, shaft coupling imports rose sharply to $X in 2022. The total import value increased at an average annual rate of +1.3% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when imports increased by 43%. Over the period under review, imports hit record highs in 2022 and are likely to see steady growth in years to come.

Imports by Country

China (X tons), Germany (X tons) and Italy (X tons) were the main suppliers of shaft coupling imports to India, together accounting for 65% of total imports. The United States, Singapore, Japan, the UK, Spain, South Korea, Belgium, France and Taiwan (Chinese) lagged somewhat behind, together accounting for a further 26%.

From 2012 to 2022, the biggest increases were recorded for Singapore (with a CAGR of +13.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Germany ($X) and Italy ($X) were the largest shaft coupling suppliers to India, with a combined 66% share of total imports. The United States, Singapore, Japan, the UK, Spain, South Korea, Belgium, France and Taiwan (Chinese) lagged somewhat behind, together accounting for a further 26%.

Among the main suppliers, Singapore, with a CAGR of +13.0%, 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 shaft coupling import price amounted to $X per ton, declining by -5.5% against the previous year. In general, the import price showed a relatively flat trend pattern. The growth pace was the most rapid in 2020 an increase of 8.3%. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from the United States ($X per ton) and China ($X per ton), while the price for South Korea ($X per ton) and the UK ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (-0.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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