India: Market for Machine-Tools For Working Wood 2024

Market Size for Machine-Tools For Working Wood in India

The Indian machine-tool for working wood market surged to $X in 2021, picking up by 20% against the previous year. Over the period under review, the total consumption indicated modest growth from 2012 to 2021: its value increased at an average annual rate of +1.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -18.4% against 2017 indices. Machine-tool for working wood consumption peaked at $X in 2017; however, from 2018 to 2021, consumption stood at a somewhat lower figure.

Production of Machine-Tools For Working Wood in India

In value terms, machine-tool for working wood production totaled $X in 2021 estimated in export price. Overall, the total production indicated a tangible expansion from 2012 to 2021: its value increased at an average annual rate of +4.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -4.2% against 2015 indices. The most prominent rate of growth was recorded in 2015 when the production volume increased by 50% against the previous year. As a result, production attained the peak level of $X. From 2016 to 2021, production growth remained at a lower figure.

Exports of Machine-Tools For Working Wood

Exports from India

In 2021, shipments abroad of machine-tools for working wood increased by 60% to X tons for the first time since 2018, thus ending a two-year declining trend. In general, total exports indicated tangible growth from 2012 to 2021: its volume increased at an average annual rate of +2.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, machine-tool for working wood exports soared to $X in 2021. Over the period under review, total exports indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +6.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Italy (X tons) was the main destination for machine-tool for working wood exports from India, with a 27% share of total exports. Moreover, machine-tool for working wood exports to Italy exceeded the volume sent to the second major destination, the United States (X tons), twofold. The third position in this ranking was taken by Nepal (X tons), with an 8.6% share.

From 2012 to 2021, the average annual growth rate of volume to Italy totaled +19.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+0.8% per year) and Nepal (+23.4% per year).

In value terms, Italy ($X) remains the key foreign market for machine-tools for working wood exports from India, comprising 27% of total exports. The second position in the ranking was held by the United States ($X), with a 12% share of total exports. It was followed by Nepal, with an 8.3% share.

From 2012 to 2021, the average annual growth rate of value to Italy totaled +23.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+5.8% per year) and Nepal (+25.7% per year).

Export Prices by Country

The average machine-tool for working wood export price stood at $X per ton in 2021, approximately mirroring the previous year. Over the last nine-year period, it increased at an average annual rate of +4.0%. The pace of growth appeared the most rapid in 2017 when the average export price increased by 20%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2020, and then dropped slightly in the following year.

Average prices varied somewhat for the major export markets. In 2021, amid the top suppliers, the highest price was recorded for prices to Belgium ($X per ton) and Indonesia ($X per ton), while the average price for exports to the United Arab Emirates ($X per ton) and Kenya ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+7.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Machine-Tools For Working Wood

Imports into India

In 2021, approx. X tons of machine-tools for working wood were imported into India; picking up by 54% on the year before. In general, imports recorded a buoyant increase. The pace of growth was the most pronounced in 2017 with an increase of 74%. As a result, imports attained the peak of X tons. From 2018 to 2021, the growth of imports failed to regain momentum.

In value terms, machine-tool for working wood imports soared to $X in 2021. Over the period under review, imports continue to indicate a notable expansion. The most prominent rate of growth was recorded in 2017 with an increase of 65% against the previous year. As a result, imports attained the peak of $X. From 2018 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of machine-tool for working wood to India, accounting for a 55% share of total imports. Moreover, machine-tool for working wood imports from China exceeded the figures recorded by the second-largest supplier, Italy (X tons), fivefold. Germany (X tons) ranked third in terms of total imports with a 9.9% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to +14.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+10.6% per year) and Germany (-0.5% per year).

In value terms, China ($X) constituted the largest supplier of machine-tools for working wood to India, comprising 52% of total imports. The second position in the ranking was taken by Italy ($X), with a 14% share of total imports. It was followed by Germany, with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China stood at +11.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+9.3% per year) and Germany (-2.3% per year).

Import Prices by Country

In 2021, the average machine-tool for working wood import price amounted to $X per ton, declining by -2.6% against the previous year. In general, the import price showed a noticeable curtailment. The most prominent rate of growth was recorded in 2018 an increase of 12% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was South Korea ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+2.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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