India: Cranks And Crankshafts Market 2024

Cranks And Crankshafts Market Size in India

In 2022, the Indian cranks and crankshafts market decreased by -0.3% to $X, falling for the second year in a row after five years of growth. The market value increased at an average annual rate of +1.3% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2016 with an increase of 6.4% against the previous year. Cranks and crankshafts consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Cranks And Crankshafts Production in India

In value terms, cranks and crankshafts production totaled $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.5% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations in certain years. The pace of growth appeared the most rapid in 2016 with an increase of 5.5% against the previous year. Cranks and crankshafts production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Cranks And Crankshafts Exports

Exports from India

In 2022, approx. X tons of cranks and crankshafts were exported from India; picking up by 25% against the year before. In general, exports recorded buoyant growth. The most prominent rate of growth was recorded in 2013 when exports increased by 44% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to see steady growth in years to come.

In value terms, cranks and crankshafts exports expanded significantly to $X in 2022. Overall, exports saw a resilient expansion. The most prominent rate of growth was recorded in 2013 with an increase of 52% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in the near future.

Exports by Country

The United States (X tons) was the main destination for cranks and crankshafts exports from India, with a 37% share of total exports. Moreover, cranks and crankshafts exports to the United States exceeded the volume sent to the second major destination, Brazil (X tons), fivefold. The third position in this ranking was taken by Italy (X tons), with a 6.7% share.

From 2012 to 2022, the average annual growth rate of volume to the United States stood at +12.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Brazil (+15.6% per year) and Italy (+12.0% per year).

In value terms, the United States ($X) remains the key foreign market for cranks and crankshafts exports from India, comprising 37% of total exports. The second position in the ranking was taken by Brazil ($X), with a 7.9% share of total exports. It was followed by Italy, with a 6.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States stood at +11.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Brazil (+14.9% per year) and Italy (+11.4% per year).

Export Prices by Country

The average cranks and crankshafts export price stood at $X per ton in 2022, which is down by -10.4% against the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the average export price increased by 22%. The export price peaked at $X per ton in 2021, and then fell in the following year.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Mexico ($X per ton) and Spain ($X per ton), while the average price for exports to Italy ($X per ton) and Thailand ($X per ton) were 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 (+11.7%), while the prices for the other major destinations experienced a decline.

Cranks And Crankshafts Imports

Imports into India

In 2022, overseas purchases of cranks and crankshafts increased by 14% to X tons, rising for the second consecutive year after two years of decline. Overall, total imports indicated a remarkable increase from 2012 to 2022: its volume increased at an average annual rate of +5.8% 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 +61.0% against 2020 indices. The most prominent rate of growth was recorded in 2018 when imports increased by 43%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, cranks and crankshafts imports soared to $X in 2022. In general, total imports indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +5.5% 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 +78.7% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 49% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, China (X tons) constituted the largest cranks and crankshafts supplier to India, with a 45% share of total imports. Moreover, cranks and crankshafts imports from China exceeded the figures recorded by the second-largest supplier, Germany (X tons), fourfold. The United States (X tons) ranked third in terms of total imports with an 8.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +13.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+4.9% per year) and the United States (-0.6% per year).

In value terms, China ($X) constituted the largest supplier of cranks and crankshafts to India, comprising 45% of total imports. The second position in the ranking was held by Germany ($X), with an 11% share of total imports. It was followed by the United States, with an 8.1% share.

From 2012 to 2022, the average annual growth rate of value from China amounted to +13.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+4.7% per year) and the United States (-0.8% per year).

Import Prices by Country

The average cranks and crankshafts import price stood at $X per ton in 2022, increasing by 5.7% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2019 an increase of 6.9% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (-0.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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