India: Market for Furnace Burners For Solid Fuel Or Gas 2022

Market Size for Furnace Burners For Solid Fuel Or Gas in India

The Indian solid fuel furnace burner market stood at $X in 2021, increasing by 2.5% against the previous year. The market value increased at an average annual rate of +3.6% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the maximum level at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Production of Furnace Burners For Solid Fuel Or Gas in India

In value terms, solid fuel furnace burner production expanded sharply to $X in 2021 estimated in export price. Over the period under review, the total production indicated notable growth from 2012 to 2021: its value increased at an average annual rate of +4.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -7.5% against 2019 indices. The pace of growth was the most pronounced in 2017 with an increase of 18% against the previous year. Solid fuel furnace burner production peaked at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Exports of Furnace Burners For Solid Fuel Or Gas

Exports from India

In 2021, shipments abroad of furnace burners for solid fuel or gas increased by 15% to X tons, rising for the second year in a row after two years of decline. Overall, exports recorded prominent growth. The growth pace was the most rapid in 2017 when exports increased by 175%. As a result, the exports reached the peak of X tons. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, solid fuel furnace burner exports fell to $X in 2021. In general, exports continue to indicate a prominent increase. The growth pace was the most rapid in 2017 when exports increased by 181% against the previous year. As a result, the exports reached the peak of $X. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Oman (X tons) was the main destination for solid fuel furnace burner exports from India, with a 56% share of total exports. Moreover, solid fuel furnace burner exports to Oman exceeded the volume sent to the second major destination, South Korea (X tons), fivefold. Bahrain (X tons) ranked third in terms of total exports with a 5% share.

From 2012 to 2021, the average annual growth rate of volume to Oman stood at +35.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (+15.5% per year) and Bahrain (+60.0% per year).

In value terms, the largest markets for solid fuel furnace burner exported from India were Bahrain ($X), Oman ($X) and Indonesia ($X), with a combined 45% share of total exports. Djibouti, South Korea, Russia, the United Arab Emirates, Angola and Nepal lagged somewhat behind, together comprising a further 23%.

In terms of the main countries of destination, Russia, with a CAGR of +142.3%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average solid fuel furnace burner export price amounted to $X per ton, falling by -23.3% against the previous year. Overall, the export price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when the average export price increased by 42% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2019; however, from 2020 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Bahrain ($X per ton), while the average price for exports to Oman ($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 Malawi (+177.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Furnace Burners For Solid Fuel Or Gas

Imports into India

Solid fuel furnace burner imports into India declined rapidly to X tons in 2021, waning by -53.8% on the year before. In general, imports saw a abrupt descent. The most prominent rate of growth was recorded in 2019 when imports increased by 154%. As a result, imports attained the peak of X tons. From 2020 to 2021, the growth of imports failed to regain momentum.

In value terms, solid fuel furnace burner imports fell remarkably to $X in 2021. Overall, imports recorded a noticeable reduction. The pace of growth appeared the most rapid in 2019 with an increase of 90%. Over the period under review, imports hit record highs at $X in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Germany (X tons), China (X tons) and Italy (X tons) were the main suppliers of solid fuel furnace burner imports to India, with a combined 57% share of total imports. Malaysia, Belgium, the United States, Luxembourg, Finland, France, Lebanon, South Korea, Turkey and Japan lagged somewhat behind, together accounting for a further 38%.

From 2012 to 2021, the biggest increases were in Lebanon (with a CAGR of +85.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Italy ($X) and Belgium ($X) constituted the largest solid fuel furnace burner suppliers to India, together comprising 54% of total imports. China, Malaysia, the United States, Luxembourg, Finland, France, Japan, South Korea, Lebanon and Turkey lagged somewhat behind, together comprising a further 39%.

In terms of the main suppliers, Lebanon, with a CAGR of +60.2%, recorded the highest rates of growth with regard to 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

The average solid fuel furnace burner import price stood at $X per ton in 2021, surging by 6.7% against the previous year. In general, import price indicated modest growth from 2012 to 2021: its price increased at an average annual rate of +1.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, solid fuel furnace burner import price increased by +24.6% against 2019 indices. The growth pace was the most rapid in 2015 when the average import price increased by 79%. As a result, import price reached the peak level of $X per ton. From 2016 to 2021, the average import prices remained at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was Belgium ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Finland (+4.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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