India: Hide Repairing Machinery Market 2024

Hide Repairing Machinery Market Size in India

The Indian hide repairing machinery market surged to $X in 2022, picking up by 50% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, saw a pronounced shrinkage. As a result, consumption reached the peak level of $X. From 2015 to 2022, the growth of the market failed to regain momentum.

Hide Repairing Machinery Exports

Exports from India

Hide repairing machinery exports from India dropped to X units in 2022, waning by -5.6% against 2021 figures. Overall, exports continue to indicate a drastic downturn. The growth pace was the most rapid in 2016 with an increase of 136% against the previous year. As a result, the exports reached the peak of X units. From 2017 to 2022, the growth of the exports failed to regain momentum.

In value terms, hide repairing machinery exports shrank to $X in 2022. Over the period under review, exports continue to indicate a noticeable decline. The most prominent rate of growth was recorded in 2020 when exports increased by 61%. As a result, the exports attained the peak of $X. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Bangladesh (X units) was the main destination for hide repairing machinery exports from India, accounting for a 33% share of total exports. Moreover, hide repairing machinery exports to Bangladesh exceeded the volume sent to the second major destination, Kenya (X units), twofold. The United Arab Emirates (X units) ranked third in terms of total exports with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Bangladesh amounted to +3.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kenya (+12.9% per year) and the United Arab Emirates (-12.2% per year).

In value terms, Bangladesh ($X) emerged as the key foreign market for machinery for making or repairing articles of hides, skins or leather exports from India, comprising 36% of total exports. The second position in the ranking was taken by Kenya ($X), with a 15% share of total exports. It was followed by Spain, with a 10% share.

From 2012 to 2022, the average annual growth rate of value to Bangladesh stood at +8.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kenya (+89.5% per year) and Spain (+51.6% per year).

Export Prices by Country

The average hide repairing machinery export price stood at $X per unit in 2022, which is down by -8.9% against the previous year. Overall, the export price, however, saw a strong increase. The most prominent rate of growth was recorded in 2017 when the average export price increased by 107%. Over the period under review, the average export prices reached the maximum at $X per unit in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Spain ($X per unit), while the average price for exports to the United Arab Emirates ($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 Japan (+86.2%), while the prices for the other major destinations experienced more modest paces of growth.

Hide Repairing Machinery Imports

Imports into India

In 2022, the amount of machinery for making or repairing articles of hides, skins or leather imported into India skyrocketed to X units, jumping by 56% against 2021. In general, imports, however, recorded a abrupt slump. The growth pace was the most rapid in 2014 when imports increased by 56%. As a result, imports reached the peak of X units. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, hide repairing machinery imports surged to $X in 2022. Overall, imports, however, showed a mild decline. The pace of growth was the most pronounced in 2014 when imports increased by 69%. As a result, imports attained the peak of $X. From 2015 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, China (X units) constituted the largest hide repairing machinery supplier to India, with a 64% share of total imports. Moreover, hide repairing machinery imports from China exceeded the figures recorded by the second-largest supplier, Italy (X units), threefold. The third position in this ranking was held by Taiwan (Chinese) (X units), with a 4.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +1.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-7.1% per year) and Taiwan (Chinese) (-23.2% per year).

In value terms, China ($X) constituted the largest supplier of machinery for making or repairing articles of hides, skins or leather to India, comprising 64% of total imports. The second position in the ranking was taken by Italy ($X), with a 20% share of total imports. It was followed by Taiwan (Chinese), with a 4.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to +7.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-2.5% per year) and Taiwan (Chinese) (-19.5% per year).

Import Prices by Country

In 2022, the average hide repairing machinery import price amounted to $X per unit, which is down by -7.1% against the previous year. Overall, import price indicated a pronounced expansion from 2012 to 2022: its price increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, hide repairing machinery import price decreased by -23.8% against 2020 indices. The growth pace was the most rapid in 2018 an increase of 31% against the previous year. The import price peaked at $X per unit in 2020; however, from 2021 to 2022, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Vietnam ($X per unit) and Thailand ($X per unit), while the price for Italy ($X per unit) and Hong Kong SAR ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+4.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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