India: Market for Iron Or Steel Towers And Lattice Masts 2025

Market Size for Iron Or Steel Towers And Lattice Masts in India

In 2021, the Indian iron or steel towers market decreased by -13.6% to $X for the first time since 2016, thus ending a four-year rising trend. Overall, the total consumption indicated a measured increase from 2012 to 2021: its value increased at an average annual rate of +3.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +53.3% against 2016 indices. Iron or steel towers consumption peaked at $X in 2020, and then shrank in the following year.

Production of Iron Or Steel Towers And Lattice Masts in India

In value terms, iron or steel towers production fell to $X in 2021 estimated in export price. Over the period under review, the total production indicated a tangible expansion from 2012 to 2021: its value increased at an average annual rate of +4.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +63.8% against 2016 indices. The pace of growth appeared the most rapid in 2020 when the production volume increased by 20%. As a result, production attained the peak level of $X, and then fell in the following year.

Exports of Iron Or Steel Towers And Lattice Masts

Exports from India

In 2021, shipments abroad of iron or steel towers and lattice masts increased by 24% to X tons, rising for the third year in a row after three years of decline. Over the period under review, total exports indicated tangible growth from 2012 to 2021: its volume increased at an average annual rate of +3.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +78.3% against 2018 indices. The pace of growth appeared the most rapid in 2015 when exports increased by 48%. As a result, the exports reached the peak of X tons. From 2016 to 2021, the growth of the exports remained at a lower figure.

In value terms, iron or steel towers exports declined remarkably to $X in 2021. In general, exports showed a relatively flat trend pattern. The growth pace was the most rapid in 2019 when exports increased by 33% against the previous year. Over the period under review, the exports hit record highs at $X in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Bangladesh (X tons), Nepal (X tons) and Saudi Arabia (X tons) were the main destinations of iron or steel towers exports from India, with a combined 33% share of total exports. The Philippines, Canada, Myanmar, Oman, Afghanistan, Uganda, Ghana, Chile, Malaysia and Tanzania lagged somewhat behind, together comprising a further 37%.

From 2012 to 2021, the biggest increases were recorded for Chile (with a CAGR of +220.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Nepal ($X), Bangladesh ($X) and the Philippines ($X) appeared to be the largest markets for iron or steel towers exported from India worldwide, together comprising 29% of total exports. Saudi Arabia, Afghanistan, Canada, Myanmar, Chile, Tanzania, Oman, Uganda, Ghana and Malaysia lagged somewhat behind, together comprising a further 37%.

Among the main countries of destination, Chile, with a CAGR of +174.3%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average iron or steel towers export price stood at $X per ton in 2021, shrinking by -32.5% against the previous year. Over the period under review, the export price saw a pronounced setback. The pace of growth appeared the most rapid in 2017 an increase of 32%. Over the period under review, the average export prices hit record highs at $X per ton in 2018; however, from 2019 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Afghanistan ($X per ton), while the average price for exports to Saudi Arabia ($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 Oman (-0.5%), while the prices for the other major destinations experienced a decline.

Imports of Iron Or Steel Towers And Lattice Masts

Imports into India

In 2021, the amount of iron or steel towers and lattice masts imported into India dropped significantly to X tons, falling by -25.3% on the year before. Over the period under review, imports showed a sharp decline. The growth pace was the most rapid in 2016 with an increase of 440% against the previous year. Imports peaked at X tons in 2017; however, from 2018 to 2021, imports remained at a lower figure.

In value terms, iron or steel towers imports dropped rapidly to $X in 2021. In general, imports faced a dramatic shrinkage. The growth pace was the most rapid in 2016 with an increase of 231%. Imports peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, South Korea (X tons) constituted the largest supplier of iron or steel towers to India, accounting for a 42% share of total imports. Moreover, iron or steel towers imports from South Korea exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X tons), twofold. Turkey (X tons) ranked third in terms of total imports with a 17% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from South Korea totaled +4.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+36.1% per year) and Turkey (+211.9% per year).

In value terms, South Korea ($X) constituted the largest supplier of iron or steel towers and lattice masts to India, comprising 41% of total imports. The second position in the ranking was held by Turkey ($X), with a 16% share of total imports. It was followed by Indonesia, with a 15% share.

From 2012 to 2021, the average annual rate of growth in terms of value from South Korea stood at -6.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+152.5% per year) and Indonesia (-26.7% per year).

Import Prices by Country

In 2021, the average iron or steel towers import price amounted to $X per ton, reducing by -27.6% against the previous year. Over the period under review, the import price showed a abrupt curtailment. The most prominent rate of growth was recorded in 2015 when the average import price increased by 88% against the previous year. As a result, import price attained the peak level of $X per ton. From 2016 to 2021, the average import prices remained at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+3.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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