India: Market for Hydraulic Cylinders And Systems 2024

Market Size for Hydraulic Cylinders And Systems in India

The Indian hydraulic cylinder and system market expanded slightly to $X in 2022, picking up by 3% against the previous year. Overall, the total consumption indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +7.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -1.3% against 2020 indices. Hydraulic cylinder and system consumption peaked at $X in 2020; afterwards, it flattened through to 2022.

Production of Hydraulic Cylinders And Systems in India

In value terms, hydraulic cylinder and system production reached $X in 2022 estimated in export price. Over the period under review, the total production indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +7.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -3.5% against 2020 indices. The pace of growth was the most pronounced in 2017 with an increase of 39% against the previous year. Over the period under review, production reached the maximum level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Exports of Hydraulic Cylinders And Systems

Exports from India

In 2022, exports of hydraulic cylinders and systems from India surged to X units, rising by 28% on 2021. Over the period under review, exports recorded a significant expansion. The most prominent rate of growth was recorded in 2018 with an increase of 132%. Over the period under review, the exports attained the peak figure in 2022 and are likely to see gradual growth in the near future.

In value terms, hydraulic cylinder and system exports expanded remarkably to $X in 2022. Overall, exports saw significant growth. The growth pace was the most rapid in 2018 when exports increased by 139% against the previous year. The exports peaked in 2022 and are expected to retain growth in years to come.

Exports by Country

The United States (X units) was the main destination for hydraulic cylinder and system exports from India, accounting for a 41% share of total exports. Moreover, hydraulic cylinder and system exports to the United States exceeded the volume sent to the second major destination, the UK (X units), twofold. The third position in this ranking was held by the United Arab Emirates (X units), with a 5.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States stood at +49.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+38.8% per year) and the United Arab Emirates (-4.7% per year).

In value terms, the United States ($X) remains the key foreign market for hydraulic cylinders and systems exports from India, comprising 43% of total exports. The second position in the ranking was taken by the UK ($X), with a 21% share of total exports. It was followed by China, with a 5% share.

From 2012 to 2022, the average annual growth rate of value to the United States totaled +45.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+35.3% per year) and China (+71.8% per year).

Export Prices by Country

In 2022, the average hydraulic cylinder and system export price amounted to $X per unit, shrinking by -10.2% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.3%. The most prominent rate of growth was recorded in 2017 an increase of 37%. Over the period under review, the average export prices attained the peak figure at $X per unit in 2020; however, from 2021 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Australia ($X per unit), while the average price for exports to the United Arab Emirates (less than $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 Poland (-1.5%), while the prices for the other major destinations experienced a decline.

Imports of Hydraulic Cylinders And Systems

Imports into India

Hydraulic cylinder and system imports into India expanded notably to X units in 2022, rising by 11% compared with the previous year. Overall, imports showed significant growth. The pace of growth was the most pronounced in 2021 when imports increased by 117% against the previous year. Imports peaked in 2022 and are expected to retain growth in the near future.

In value terms, hydraulic cylinder and system imports expanded markedly to $X in 2022. In general, imports posted a remarkable increase. The most prominent rate of growth was recorded in 2017 when imports increased by 64% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the near future.

Imports by Country

China (X units), Germany (X units) and the United States (X units) were the main suppliers of hydraulic cylinder and system imports to India, together comprising 43% of total imports. The UK, Singapore, Austria, Japan, South Korea, France, the Philippines, Belgium, Mexico and the Netherlands lagged somewhat behind, together accounting for a further 47%.

From 2012 to 2022, the biggest increases were recorded for Mexico (with a CAGR of +324.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest hydraulic cylinder and system suppliers to India were China ($X), Germany ($X) and the United States ($X), with a combined 44% share of total imports. The UK, Singapore, Austria, Japan, South Korea, France, Belgium, Mexico, the Netherlands and the Philippines lagged somewhat behind, together comprising a further 46%.

In terms of the main suppliers, Mexico, with a CAGR of +309.2%, saw the highest growth rate of 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

In 2022, the average hydraulic cylinder and system import price amounted to $X per unit, falling by -3.7% against the previous year. Overall, the import price showed a perceptible contraction. The pace of growth was the most pronounced in 2019 when the average import price increased by 10%. Over the period under review, average import prices attained the maximum at $X per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (-3.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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