India: Market for Machine Tools For Working Metal 2024

Market Size for Machine Tools For Working Metal in India

The Indian machine-tool for working metal market shrank remarkably to $X in 2021, which is down by -19.6% against the previous year. Overall, consumption continues to indicate a abrupt downturn. Machine-tool for working metal consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Production of Machine Tools For Working Metal in India

In value terms, machine-tool for working metal production rose remarkably to $X in 2021 estimated in export price. Over the period under review, production showed a deep contraction. The growth pace was the most rapid in 2015 when the production volume increased by 13% against the previous year. Machine-tool for working metal production peaked at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Exports of Machine Tools For Working Metal

Exports from India

In 2021, overseas shipments of machine tools for working metal increased by 86% to X units for the first time since 2017, thus ending a three-year declining trend. In general, exports, however, showed a perceptible downturn. The exports peaked at X units in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

In value terms, machine-tool for working metal exports surged to $X in 2021. Over the period under review, exports, however, continue to indicate a mild descent. The most prominent rate of growth was recorded in 2015 when exports increased by 56% against the previous year. The exports peaked at $X in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

Exports by Country

The United States (X units), the United Arab Emirates (X units) and Thailand (X units) were the main destinations of machine-tool for working metal exports from India, with a combined 51% share of total exports. These countries were followed by China, Nepal, Sri Lanka, the UK, Kenya, Bangladesh, Germany, Tanzania, Nigeria and Oman, which together accounted for a further 32%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Nepal (with a CAGR of +17.5%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for machine-tool for working metal exported from India were the United Arab Emirates ($X), Nepal ($X) and the United States ($X), with a combined 27% share of total exports.

In terms of the main countries of destination, Nepal, with a CAGR of +22.7%, recorded 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 machine-tool for working metal export price stood at $X per unit in 2021, which is down by -33.3% against the previous year. Overall, the export price, however, enjoyed a modest expansion. The growth pace was the most rapid in 2016 when the average export price increased by 96%. As a result, the export price reached the peak level of $X per unit. From 2017 to 2021, the average export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Oman ($X per unit), while the average price for exports to the UK ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Oman (+14.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Machine Tools For Working Metal

Imports into India

In 2021, purchases abroad of machine tools for working metal was finally on the rise to reach X units after two years of decline. Over the period under review, imports, however, recorded a abrupt contraction. The most prominent rate of growth was recorded in 2018 when imports increased by 61% against the previous year. Imports peaked at X units in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, machine-tool for working metal imports soared to $X in 2021. In general, imports, however, saw a noticeable slump. The most prominent rate of growth was recorded in 2018 when imports increased by 70%. As a result, imports reached the peak of $X. From 2019 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, China (X units) constituted the largest supplier of machine-tool for working metal to India, with a 77% share of total imports. Moreover, machine-tool for working metal imports from China exceeded the figures recorded by the second-largest supplier, South Korea (X units), eightfold. The third position in this ranking was taken by Taiwan (Chinese) (X units), with a 4.3% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled +3.0%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (-14.6% per year) and Taiwan (Chinese) (-6.7% per year).

In value terms, China ($X) constituted the largest supplier of machine tools for working metal to India, comprising 40% of total imports. The second position in the ranking was taken by Japan ($X), with a 10% share of total imports. It was followed by Italy, with an 8.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China stood at +3.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-11.1% per year) and Italy (-2.9% per year).

Import Prices by Country

The average machine-tool for working metal import price stood at $X per unit in 2021, waning by -4.4% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.8%. The most prominent rate of growth was recorded in 2017 an increase of 29%. Over the period under review, average import prices reached the peak figure at $X per unit in 2019; however, from 2020 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was Italy ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+25.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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