India: Market for Mechanical Shovels, Excavators And Shovel Loaders 2024

Market Size for Mechanical Shovels, Excavators And Shovel Loaders in India

The Indian mechanical shovel and excavator market reduced notably to $X in 2021, which is down by -28.4% against the previous year. Overall, consumption showed a abrupt contraction. As a result, consumption reached the peak level of $X. From 2017 to 2021, the growth of the market failed to regain momentum.

Production of Mechanical Shovels, Excavators And Shovel Loaders in India

In value terms, mechanical shovel and excavator production stood at $X in 2021 estimated in export price. Overall, production showed a abrupt slump. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Exports of Mechanical Shovels, Excavators And Shovel Loaders

Exports from India

Mechanical shovel and excavator exports from India soared to X units in 2021, rising by 58% against 2020 figures. Overall, exports posted a significant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, mechanical shovel and excavator exports soared to $X in 2021. In general, exports continue to indicate a significant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Nepal (X units) was the main destination for mechanical shovel and excavator exports from India, with a 17% share of total exports. Moreover, mechanical shovel and excavator exports to Nepal exceeded the volume sent to the second major destination, South Africa (X units), threefold. The third position in this ranking was held by Russia (X units), with a 6.4% share.

From 2012 to 2021, the average annual growth rate of volume to Nepal amounted to +30.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Africa (+18.2% per year) and Russia (+106.2% per year).

In value terms, Nepal ($X) remains the key foreign market for mechanical shovels, excavators and shovel loaders exports from India, comprising 17% of total exports. The second position in the ranking was held by South Africa ($X), with a 7.3% share of total exports. It was followed by Russia, with a 6.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Nepal stood at +38.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Africa (+23.9% per year) and Russia (+99.6% per year).

Export Prices by Country

The average mechanical shovel and excavator export price stood at $X per unit in 2021, increasing by 29% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The export price peaked at $X per unit in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Bhutan ($X per unit), while the average price for exports to the UK ($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 Bhutan (+7.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Mechanical Shovels, Excavators And Shovel Loaders

Imports into India

In 2021, approx. X units of mechanical shovels, excavators and shovel loaders were imported into India; with an increase of 43% compared with the year before. In general, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when imports increased by 87% against the previous year. As a result, imports attained the peak of X units. From 2019 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, mechanical shovel and excavator imports skyrocketed to $X in 2021. Over the period under review, imports showed resilient growth. 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 mechanical shovel and excavator supplier to India, with a 76% share of total imports. Moreover, mechanical shovel and excavator imports from China exceeded the figures recorded by the second-largest supplier, Japan (X units), more than tenfold. Germany (X units) ranked third in terms of total imports with a 5% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to +1.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+2.2% per year) and Germany (+15.6% per year).

In value terms, China ($X) constituted the largest supplier of mechanical shovels, excavators and shovel loaders to India, comprising 43% of total imports. The second position in the ranking was held by Japan ($X), with a 16% share of total imports. It was followed by South Korea, with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China stood at +14.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+3.2% per year) and South Korea (-2.7% per year).

Import Prices by Country

The average mechanical shovel and excavator import price stood at $X per unit in 2021, picking up by 23% against the previous year. In general, import price indicated buoyant growth from 2012 to 2021: its price increased at an average annual rate of +5.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, mechanical shovel and excavator import price increased by +79.9% against 2018 indices. The most prominent rate of growth was recorded in 2019 when the average import price increased by 72% against the previous year. The import price peaked at $X per unit in 2016; however, from 2017 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was South Korea ($X per unit), while the price for China ($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 (+18.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :