India: Glass Electrical Insulator Market 2024

Glass Electrical Insulator Market Size in India

The Indian glass electrical insulator market expanded sharply to $X in 2021, picking up by 5.5% against the previous year. The market value increased at an average annual rate of +2.5% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level of $X. From 2016 to 2021, the growth of the market remained at a lower figure.

Glass Electrical Insulator Production in India

In value terms, glass electrical insulator production expanded remarkably to $X in 2021 estimated in export price. Over the period under review, the total production indicated a tangible increase from 2012 to 2021: its value increased at an average annual rate of +3.9% 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 -5.7% against 2019 indices. The growth pace was the most rapid in 2015 when the production volume increased by 62%. As a result, production reached the peak level of $X. From 2016 to 2021, production growth remained at a somewhat lower figure.

Glass Electrical Insulator Exports

Exports from India

In 2021, glass electrical insulator exports from India expanded sharply to X units, increasing by 14% against the previous year's figure. In general, exports showed a buoyant expansion. The growth pace was the most rapid in 2016 with an increase of 212%. Over the period under review, the exports hit record highs at X units in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

In value terms, glass electrical insulator exports skyrocketed to $X in 2021. Over the period under review, exports saw a resilient expansion. The most prominent rate of growth was recorded in 2016 when exports increased by 136% against the previous year. Over the period under review, the exports hit record highs at $X in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

Exports by Country

Saudi Arabia (X units), Australia (X units) and Belgium (X units) were the main destinations of glass electrical insulator exports from India, together accounting for 47% of total exports. Brazil, Kuwait, Canada, the United Arab Emirates, Nepal, the United States, Turkey, Bangladesh and Sweden lagged somewhat behind, together comprising a further 44%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Brazil (with a CAGR of +146.4%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for glass electrical insulator exported from India were Belgium ($X), Australia ($X) and Brazil ($X), together comprising 48% of total exports.

Brazil, with a CAGR of +121.8%, saw 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

In 2021, the average glass electrical insulator export price amounted to $X per unit, with an increase of 18% against the previous year. Over the period under review, export price indicated a pronounced increase from 2012 to 2021: its price increased at an average annual rate of +3.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, glass electrical insulator export price increased by +57.2% against 2018 indices. The pace of growth was the most pronounced in 2015 an increase of 121% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2016 to 2021, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Sweden ($X per unit), while the average price for exports to Nepal ($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 Peru (+38.4%), while the prices for the other major destinations experienced more modest paces of growth.

Glass Electrical Insulator Imports

Imports into India

In 2021, purchases abroad of glass electrical insulators increased by 134% to X units, rising for the third consecutive year after four years of decline. Over the period under review, imports, however, recorded a dramatic decline. Over the period under review, imports reached the peak figure at X units in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, glass electrical insulator imports surged to $X in 2021. In general, imports, however, saw a precipitous setback. Imports peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X units) was the main glass electrical insulator supplier to India, accounting for a 93% share of total imports. It was followed by Canada (X units), with a 3.1% share of total imports.

From 2012 to 2021, the average annual growth rate of volume from China totaled -26.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (-17.7% per year) and Russia (-53.9% per year).

In value terms, China ($X) constituted the largest supplier of glass electrical insulators to India, comprising 54% of total imports. The second position in the ranking was taken by Canada ($X), with a 15% share of total imports.

From 2012 to 2021, the average annual growth rate of value from China amounted to -32.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (-15.5% per year) and Russia (-46.4% per year).

Import Prices by Country

In 2021, the average glass electrical insulator import price amounted to $X per unit, which is down by -42.1% against the previous year. In general, the import price continues to indicate a deep reduction. The pace of growth was the most pronounced in 2018 an increase of 57% against the previous year. As a result, import price attained the peak level of $X per unit. From 2019 to 2021, the average import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Russia ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Russia (+16.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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