India: Flywheels And Pulleys Market 2024

Flywheels And Pulleys Market Size in India

The Indian flywheels and pulleys market declined slightly to $X in 2021, approximately mirroring the previous year. The market value increased at an average annual rate of +5.4% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market reached the peak level at $X in 2020, and then fell slightly in the following year.

Flywheels And Pulleys Production in India

In value terms, flywheels and pulleys production shrank modestly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +5.7% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 when the production volume increased by 29% against the previous year. Flywheels and pulleys production peaked at $X in 2020, and then dropped in the following year.

Flywheels And Pulleys Exports

Exports from India

After two years of decline, shipments abroad of flywheels and pulleys increased by 31% to X tons in 2021. The total export volume increased at an average annual rate of +1.9% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the exports attained the maximum at X tons in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, flywheels and pulleys exports soared to $X in 2021. The total export value increased at an average annual rate of +4.6% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States (X tons) was the main destination for flywheels and pulleys exports from India, with a 26% share of total exports. Moreover, flywheels and pulleys exports to the United States exceeded the volume sent to the second major destination, Italy (X tons), threefold. The UK (X tons) ranked third in terms of total exports with a 7.4% share.

From 2012 to 2021, the average annual growth rate of volume to the United States was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (-12.0% per year) and the UK (+3.9% per year).

In value terms, the United States ($X) remains the key foreign market for flywheels and pulleys exports from India, comprising 27% of total exports. The second position in the ranking was taken by Italy ($X), with a 9.6% share of total exports. It was followed by the UK, with a 7.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States totaled +3.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (-9.5% per year) and the UK (+6.9% per year).

Export Prices by Country

In 2021, the average flywheels and pulleys export price amounted to $X per ton, with an increase of 4.5% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.7%. The pace of growth was the most pronounced in 2013 when the average export price increased by 29% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2014 to 2021, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Mongolia ($X per ton), while the average price for exports to China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Mongolia (+8.1%), while the prices for the other major destinations experienced more modest paces of growth.

Flywheels And Pulleys Imports

Imports into India

In 2021, overseas purchases of flywheels and pulleys were finally on the rise to reach X tons after two years of decline. In general, imports continue to indicate a tangible increase. The growth pace was the most rapid in 2017 when imports increased by 65% against the previous year. Over the period under review, imports attained the maximum at X tons in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, flywheels and pulleys imports soared to $X in 2021. Overall, total imports indicated a modest increase from 2012 to 2021: its value increased at an average annual rate of +1.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2017 when imports increased by 51%. Imports peaked at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

South Korea (X tons), China (X tons) and Germany (X tons) were the main suppliers of flywheels and pulleys imports to India, with a combined 60% share of total imports.

From 2012 to 2021, the biggest increases were recorded for China (with a CAGR of +8.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, South Korea ($X), China ($X) and Germany ($X) appeared to be the largest flywheels and pulleys suppliers to India, with a combined 60% share of total imports.

China, with a CAGR of +7.6%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average flywheels and pulleys import price stood at $X per ton in 2021, rising by 2.1% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 an increase of 16% against the previous year. As a result, import price reached the peak level of $X per ton. From 2015 to 2021, the average import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the highest price was recorded for prices from Thailand ($X per ton) and Japan ($X per ton), while the price for the UK ($X per ton) and South Korea ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (-0.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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