India: Heat Exchange Unit Market 2024

Heat Exchange Unit Market Size in India

The Indian heat exchange unit market rose slightly to $X in 2022, surging by 2.1% against the previous year. The market value increased at an average annual rate of +5.2% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Heat exchange unit consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Heat Exchange Unit Production in India

In value terms, heat exchange unit production stood at $X in 2022 estimated in export price. The total output value increased at an average annual rate of +5.5% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 when the production volume increased by 41%. Over the period under review, production attained the peak level at $X in 2020; afterwards, it flattened through to 2022.

Heat Exchange Unit Exports

Exports from India

In 2022, exports of heat exchange units from India shrank to X units, which is down by -7.1% on 2021. In general, total exports indicated resilient growth from 2012 to 2022: its volume increased at an average annual rate of +10.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +39.3% against 2020 indices. The most prominent rate of growth was recorded in 2013 with an increase of 109%. Over the period under review, the exports reached the maximum at X units in 2021, and then shrank in the following year.

In value terms, heat exchange unit exports contracted sharply to $X in 2022. Overall, exports, however, showed a resilient increase. The pace of growth was the most pronounced in 2013 with an increase of 117%. Over the period under review, the exports attained the peak figure at $X in 2021, and then shrank notably in the following year.

Exports by Country

Thailand (X units), the United Arab Emirates (X units) and China (X units) were the main destinations of heat exchange unit exports from India, with a combined 44% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Thailand (with a CAGR of +45.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Thailand ($X) remains the key foreign market for heat exchange units exports from India, comprising 24% of total exports. The second position in the ranking was taken by China ($X), with an 11% share of total exports. It was followed by the United States, with a 9.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Thailand stood at +45.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+13.5% per year) and the United States (+23.9% per year).

Export Prices by Country

In 2022, the average heat exchange unit export price amounted to $X per unit, which is down by -10.3% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average export price increased by 24% against the previous year. As a result, the export price attained the peak level of $X per unit, and then reduced in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to Oman ($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 the United Arab Emirates (-0.0%), while the prices for the other major destinations experienced a decline.

Heat Exchange Unit Imports

Imports into India

In 2022, imports of heat exchange units into India rose sharply to X units, increasing by 5.3% against the previous year's figure. Over the period under review, imports recorded a resilient expansion. The pace of growth appeared the most rapid in 2014 with an increase of 156%. Imports peaked at X units in 2015; however, from 2016 to 2022, imports remained at a lower figure.

In value terms, heat exchange unit imports rose significantly to $X in 2022. In general, imports posted a remarkable increase. The growth pace was the most rapid in 2014 with an increase of 146% against the previous year. Imports peaked at $X in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X units) constituted the largest supplier of heat exchange unit to India, with a 39% share of total imports. Moreover, heat exchange unit imports from China exceeded the figures recorded by the second-largest supplier, Germany (X units), threefold. The third position in this ranking was taken by Singapore (X units), with an 8.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +14.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+10.2% per year) and Singapore (+31.7% per year).

In value terms, China ($X) constituted the largest supplier of heat exchange units to India, comprising 39% of total imports. The second position in the ranking was taken by Germany ($X), with an 11% share of total imports. It was followed by Singapore, with an 8.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at +14.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+10.4% per year) and Singapore (+31.9% per year).

Import Prices by Country

In 2022, the average heat exchange unit import price amounted to $X per unit, growing by 4.8% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 an increase of 10% against the previous year. The import price peaked in 2022 and is likely to see steady growth in the near future.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were the United States ($X per unit) and Italy ($X per unit), while the price for South Korea ($X per unit) and the UK ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+0.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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