India: Hedge Shear Market 2024

Hedge Shear Market Size in India

The Indian hedge shear market stood at $X in 2021, picking up by 1.8% against the previous year. The market value increased at an average annual rate of +2.4% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Hedge shear consumption peaked at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Hedge Shear Production in India

In value terms, hedge shear production stood at $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.1% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2015 when the production volume increased by 35%. Hedge shear production peaked at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Hedge Shear Exports

Exports from India

Hedge shear exports from India surged to X tons in 2021, jumping by 185% compared with 2020 figures. Overall, exports continue to indicate a resilient expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, hedge shear exports soared to $X in 2021. Over the period under review, exports saw a prominent expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Nepal (X tons) was the main destination for hedge shear exports from India, with a 78% share of total exports. Moreover, hedge shear exports to Nepal exceeded the volume sent to the second major destination, Bhutan (X tons), more than tenfold. Tanzania (X kg) ranked third in terms of total exports with a 5.2% share.

From 2012 to 2021, the average annual growth rate of volume to Nepal amounted to +198.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bhutan (+48.4% per year) and Tanzania (+22.3% per year).

In value terms, Nepal ($X) remains the key foreign market for hedge shears and two-handed pruning shears exports from India, comprising 70% of total exports. The second position in the ranking was taken by Bhutan ($X), with a 10% share of total exports. It was followed by Tanzania, with a 7.6% share.

From 2012 to 2021, the average annual growth rate of value to Nepal totaled +197.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bhutan (+94.0% per year) and Tanzania (+36.7% per year).

Export Prices by Country

The average hedge shear export price stood at $X per ton in 2021, rising by 46% against the previous year. Overall, the export price saw a mild expansion. The most prominent rate of growth was recorded in 2015 when the average export price increased by 115% against the previous year. Over the period under review, the average export prices reached the peak figure in 2021 and is expected to retain growth in years to come.

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 Nigeria ($X per ton), while the average price for exports to the UK ($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 Bhutan (+30.8%), while the prices for the other major destinations experienced more modest paces of growth.

Hedge Shear Imports

Imports into India

In 2021, imports of hedge shears and two-handed pruning shears into India surged to X tons, rising by 73% on the year before. In general, imports posted a significant expansion. The pace of growth was the most pronounced in 2018 with an increase of 105%. Over the period under review, imports reached the maximum in 2021 and are expected to retain growth in the near future.

In value terms, hedge shear imports surged to $X in 2021. Overall, imports continue to indicate a significant increase. The pace of growth was the most pronounced in 2016 when imports increased by 132% against the previous year. Imports peaked in 2021 and are likely to see steady growth in the near future.

Imports by Country

In 2021, China (X tons) constituted the largest hedge shear supplier to India, accounting for a 67% share of total imports. Moreover, hedge shear imports from China exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X tons), twofold. The third position in this ranking was taken by Belgium (X tons), with a 2.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at +34.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+34.7% per year) and Belgium (+62.7% per year).

In value terms, Taiwan (Chinese) ($X), China ($X) and Belgium ($X) appeared to be the largest hedge shear suppliers to India, with a combined 90% share of total imports.

Belgium, with a CAGR of +73.0%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average hedge shear import price amounted to $X per ton, reducing by -24.5% against the previous year. In general, the import price recorded a abrupt setback. The growth pace was the most rapid in 2014 when the average import price increased by 19% against the previous year. The import price peaked at $X per ton in 2017; however, from 2018 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belgium (+6.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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