India: Working Wire Machine Market 2024

Working Wire Machine Market Size in India

The Indian working wire machine market rose sharply to $X in 2021, with an increase of 8.5% against the previous year. Over the period under review, consumption recorded a relatively flat trend pattern. Over the period under review, the market attained the peak level at $X in 2016; however, from 2017 to 2021, consumption remained at a lower figure.

Working Wire Machine Production in India

In value terms, working wire machine production declined modestly to $X in 2021 estimated in export price. Over the period under review, production, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the production volume increased by 11% against the previous year. As a result, production attained the peak level of $X. From 2014 to 2021, production growth remained at a lower figure.

Working Wire Machine Exports

Exports from India

In 2021, approx. X units of machines for working wire were exported from India; rising by 154% compared with the previous year's figure. In general, exports continue to indicate a prominent expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, working wire machine exports soared to $X in 2021. Overall, exports recorded a prominent expansion. The growth pace was the most rapid in 2017 with an increase of 89%. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Nepal (X units) was the main destination for working wire machine exports from India, accounting for a 66% share of total exports. Moreover, working wire machine exports to Nepal exceeded the volume sent to the second major destination, Saudi Arabia (X units), more than tenfold. Myanmar (X units) ranked third in terms of total exports with a 3.5% share.

From 2012 to 2021, the average annual growth rate of volume to Nepal amounted to +25.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (-5.5% per year) and Myanmar (+42.8% per year).

In value terms, Nepal ($X) emerged as the key foreign market for machines for working wire exports from India, comprising 14% of total exports. The second position in the ranking was held by Spain ($X), with a 4.4% share of total exports. It was followed by Saudi Arabia, with a 2.1% share.

From 2012 to 2021, the average annual growth rate of value to Nepal totaled +27.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (+51.2% per year) and Saudi Arabia (+8.3% per year).

Export Prices by Country

In 2021, the average working wire machine export price amounted to $X per unit, which is down by -31.4% against the previous year. In general, the export price saw a deep reduction. The most prominent rate of growth was recorded in 2015 an increase of 21% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2016 to 2021, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Spain ($X per unit), while the average price for exports to Nepal ($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 Saudi Arabia (+14.7%), while the prices for the other major destinations experienced more modest paces of growth.

Working Wire Machine Imports

Imports into India

Working wire machine imports into India surged to X units in 2021, increasing by 105% compared with 2020. Overall, imports showed significant growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, working wire machine imports skyrocketed to $X in 2021. In general, imports saw a strong expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X units) constituted the largest supplier of working wire machine to India, with a 84% share of total imports. Moreover, working wire machine imports from China exceeded the figures recorded by the second-largest supplier, Italy (X units), more than tenfold. The third position in this ranking was taken by Taiwan (Chinese) (X units), with a 3.2% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled +47.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+13.7% per year) and Taiwan (Chinese) (+4.3% per year).

In value terms, China ($X) constituted the largest supplier of machines for working wire to India, comprising 45% of total imports. The second position in the ranking was taken by Italy ($X), with a 12% share of total imports. It was followed by Taiwan (Chinese), with an 8.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China stood at +28.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+4.7% per year) and Taiwan (Chinese) (-4.1% per year).

Import Prices by Country

In 2021, the average working wire machine import price amounted to $X per unit, with a decrease of -3.5% against the previous year. Overall, the import price recorded a abrupt shrinkage. The growth pace was the most rapid in 2015 when the average import price increased by 14% against the previous year. The import price peaked at $X per unit in 2013; however, from 2014 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 Taiwan (Chinese) ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Africa (+1.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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