India: Non-Electric Motor Handtools Market 2024

Non-Electric Motor Handtools Market Size in India

The Indian non-electric motor handtools market dropped remarkably to $X in 2022, shrinking by -20.7% against the previous year. Over the period under review, consumption, however, showed a buoyant increase. Non-electric motor handtools consumption peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Non-Electric Motor Handtools Production in India

In value terms, non-electric motor handtools production amounted to $X in 2022 estimated in export price. Over the period under review, production recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 with a decrease of 99.9% against the previous year. Over the period under review, production hit record highs in 2022 and is expected to retain growth in the immediate term.

Non-Electric Motor Handtools Exports

Exports from India

For the third consecutive year, India recorded growth in shipments abroad of handtools, hydraulic or with a self-contained non-electric motor, which increased by 45% to X units in 2022. In general, exports continue to indicate a buoyant increase. The growth pace was the most rapid in 2021 with an increase of 59% against the previous year. The exports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, non-electric motor handtools exports soared to $X in 2022. Over the period under review, exports continue to indicate a strong expansion. The pace of growth appeared the most rapid in 2013 with an increase of 152% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in the immediate term.

Exports by Country

The United States (X units) was the main destination for non-electric motor handtools exports from India, accounting for a 57% share of total exports. Moreover, non-electric motor handtools exports to the United States exceeded the volume sent to the second major destination, the United Arab Emirates (X units), eightfold. The third position in this ranking was taken by the Philippines (X units), with a 4.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States amounted to +24.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+26.0% per year) and the Philippines (+34.4% per year).

In value terms, Belgium ($X) remains the key foreign market for handtools, hydraulic or with a self-contained non-electric motor exports from India, comprising 24% of total exports. The second position in the ranking was taken by the United States ($X), with a 12% share of total exports. It was followed by Sweden, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Belgium stood at +124.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+13.3% per year) and Sweden (+58.7% per year).

Export Prices by Country

The average non-electric motor handtools export price stood at $X per unit in 2022, declining by -2.9% against the previous year. Over the period under review, the export price, however, showed tangible growth. The most prominent rate of growth was recorded in 2013 when the average export price increased by 138% against the previous year. The export price peaked at $X per unit in 2017; however, from 2018 to 2022, 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 Belgium ($X per unit), while the average price for exports to the United States ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Canada (+42.5%), while the prices for the other major destinations experienced more modest paces of growth.

Non-Electric Motor Handtools Imports

Imports into India

In 2022, approx. X units of handtools, hydraulic or with a self-contained non-electric motor were imported into India; declining by -4.6% against the previous year. In general, imports, however, recorded a strong increase. The pace of growth appeared the most rapid in 2014 with an increase of 50%. Imports peaked at X units in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, non-electric motor handtools imports fell to $X in 2022. Overall, imports, however, posted a resilient increase. The most prominent rate of growth was recorded in 2018 when imports increased by 55% against the previous year. Over the period under review, imports reached the maximum at $X in 2021, and then contracted in the following year.

Imports by Country

In 2022, China (X units) constituted the largest non-electric motor handtools supplier to India, with a 58% share of total imports. Moreover, non-electric motor handtools imports from China exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X units), fivefold. The third position in this ranking was held by Thailand (X units), with a 7.1% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +20.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+11.2% per year) and Thailand (-0.2% per year).

In value terms, China ($X) constituted the largest supplier of handtools, hydraulic or with a self-contained non-electric motor to India, comprising 64% of total imports. The second position in the ranking was held by Germany ($X), with a 5.8% share of total imports. It was followed by Thailand, with a 5.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled +11.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+6.4% per year) and Thailand (+0.8% per year).

Import Prices by Country

The average non-electric motor handtools import price stood at $X per unit in 2022, surging by 2.1% against the previous year. Overall, the import price, however, saw a perceptible shrinkage. The growth pace was the most rapid in 2021 an increase of 18% against the previous year. The import price peaked at $X per unit in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per unit), while the price for South Korea ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+4.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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