India: Electric Heating Resistor Market 2024

Electric Heating Resistor Market Size in India

After five years of growth, the Indian electric heating resistor market decreased by -8.5% to $X in 2021. Overall, consumption, however, recorded resilient growth. Electric heating resistor consumption peaked at $X in 2020, and then reduced in the following year.

Electric Heating Resistor Production in India

In value terms, electric heating resistor production reduced to $X in 2021 estimated in export price. In general, production, however, enjoyed a remarkable increase. The growth pace was the most rapid in 2020 when the production volume increased by 23% against the previous year. As a result, production attained the peak level of $X, and then declined in the following year.

Electric Heating Resistor Exports

Exports from India

In 2021, the amount of electric heating resistors exported from India skyrocketed to X units, rising by 70% compared with the previous year's figure. Over the period under review, exports showed a buoyant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, electric heating resistor exports soared to $X in 2021. Overall, exports showed prominent growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States (X units), the Netherlands (X units) and Canada (X units) were the main destinations of electric heating resistor exports from India, together comprising 57% of total exports. The UK, Germany, Austria, Denmark, Sweden, the Czech Republic and Finland lagged somewhat behind, together accounting for a further 28%.

From 2012 to 2021, the biggest increases were recorded for the Czech Republic (with a CAGR of +31.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for electric heating resistor exported from India were the United States ($X), the Netherlands ($X) and Canada ($X), with a combined 57% share of total exports. The UK, Germany, Austria, Denmark, Sweden, the Czech Republic and Finland lagged somewhat behind, together comprising a further 28%.

The Czech Republic, with a CAGR of +38.9%, saw the highest growth rate of 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 electric heating resistor export price stood at $X per unit in 2021, falling by -3.8% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +5.6%. The pace of growth appeared the most rapid in 2013 when the average export price increased by 27%. The export price peaked at $X per unit in 2020, and then reduced slightly in the following year.

Average prices varied noticeably for the major export markets. In 2021, amid the top suppliers, the highest price was recorded for prices to the Czech Republic ($X per unit) and Sweden ($X per unit), while the average price for exports to Canada ($X per unit) and Finland ($X per unit) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the Czech Republic (+5.6%), while the prices for the other major destinations experienced more modest paces of growth.

Electric Heating Resistor Imports

Imports into India

Electric heating resistor imports into India skyrocketed to X units in 2021, growing by 48% on the previous year's figure. Overall, total imports indicated a prominent expansion from 2012 to 2021: its volume increased at an average annual rate of +7.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, electric heating resistor imports surged to $X in 2021. Over the period under review, imports showed a resilient expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X units) constituted the largest electric heating resistor supplier to India, accounting for a 61% share of total imports. Moreover, electric heating resistor imports from China exceeded the figures recorded by the second-largest supplier, Japan (X units), fivefold. South Korea (X units) ranked third in terms of total imports with a 13% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at +14.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+9.5% per year) and South Korea (+18.7% per year).

In value terms, China ($X) constituted the largest supplier of electric heating resistors to India, comprising 30% of total imports. The second position in the ranking was held by Japan ($X), with a 14% share of total imports. It was followed by South Korea, with a 13% share.

From 2012 to 2021, the average annual growth rate of value from China totaled +8.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+13.8% per year) and South Korea (+22.7% per year).

Import Prices by Country

In 2021, the average electric heating resistor import price amounted to $X per unit, rising by 6.3% against the previous year. Over the last nine-year period, it increased at an average annual rate of +3.0%. The most prominent rate of growth was recorded in 2018 an increase of 27%. The import price peaked in 2021 and is likely to continue growth in years to come.

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 ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+23.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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