India: Agricultural Product Dryer Market 2024

Agricultural Product Dryer Market Size in India

In 2021, after four years of growth, there was decline in the Indian agricultural product dryer market, when its value decreased by -0.3% to $X. In general, consumption continues to indicate a noticeable setback. The pace of growth was the most pronounced in 2017 with an increase of 8.8%. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Agricultural Product Dryer Production in India

In value terms, agricultural product dryer production totaled $X in 2021 estimated in export price. Overall, production showed a slight downturn. The growth pace was the most rapid in 2013 with an increase of 16% against the previous year. As a result, production attained the peak level of $X. From 2014 to 2021, production growth failed to regain momentum.

Agricultural Product Dryer Exports

Exports from India

In 2021, agricultural product dryer exports from India surged to X units, with an increase of 72% on 2020 figures. Overall, exports posted a significant increase. The pace of growth was the most pronounced in 2015 with an increase of 96%. Over the period under review, the exports hit record highs in 2021 and are likely to continue growth in years to come.

In value terms, agricultural product dryer exports surged to $X in 2021. Over the period under review, exports enjoyed a buoyant increase. The most prominent rate of growth was recorded in 2018 when exports increased by 61% against the previous year. As a result, the exports reached the peak of $X. From 2019 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Bangladesh (X units) was the main destination for agricultural product dryer exports from India, accounting for a 56% share of total exports. Moreover, agricultural product dryer exports to Bangladesh exceeded the volume sent to the second major destination, Nepal (X units), threefold. The third position in this ranking was held by Nigeria (X units), with a 12% share.

From 2012 to 2021, the average annual growth rate of volume to Bangladesh totaled +45.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Nepal (+68.4% per year) and Nigeria (+67.5% per year).

In value terms, Bangladesh ($X), Nigeria ($X) and Kenya ($X) constituted the largest markets for agricultural product dryer exported from India worldwide, with a combined 58% share of total exports.

Nigeria, with a CAGR of +159.0%, recorded 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

The average agricultural product dryer export price stood at $X per unit in 2021, dropping by -15.5% against the previous year. Overall, the export price showed a abrupt decrease. The most prominent rate of growth was recorded in 2017 an increase of 14% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per unit in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Indonesia ($X per unit), while the average price for exports to Nepal ($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 Sri Lanka (+6.3%), while the prices for the other major destinations experienced more modest paces of growth.

Agricultural Product Dryer Imports

Imports into India

In 2021, purchases abroad of dryers for the treatment of agricultural products increased by 141% to X units for the first time since 2018, thus ending a two-year declining trend. In general, imports, however, saw a relatively flat trend pattern. Imports peaked at X units in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, agricultural product dryer imports soared to $X in 2021. Over the period under review, imports, however, saw a abrupt shrinkage. The pace of growth appeared the most rapid in 2017 when imports increased by 214% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X units) constituted the largest agricultural product dryer supplier to India, with a 17% share of total imports. Moreover, agricultural product dryer imports from China exceeded the figures recorded by the second-largest supplier, Italy (X units), threefold. The Netherlands (X units) ranked third in terms of total imports with a 2.2% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to +11.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-6.1% per year) and the Netherlands (-14.7% per year).

In value terms, Italy ($X), Germany ($X) and China ($X) constituted the largest agricultural product dryer suppliers to India, with a combined 42% share of total imports. The Netherlands, Taiwan (Chinese), Brazil, Denmark and the Philippines lagged somewhat behind, together comprising a further 16%.

In terms of the main suppliers, the Philippines, with a CAGR of +305.0%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2021, the average agricultural product dryer import price amounted to $X per unit, waning by -16.6% against the previous year. Overall, the import price continues to indicate a abrupt curtailment. The most prominent rate of growth was recorded in 2017 an increase of 115%. The import price peaked at $X per unit in 2013; however, from 2014 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 Germany ($X per unit), while the price for the Philippines ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Brazil (+30.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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