India: Snow Motor Vehicle Market 2025

Snow Motor Vehicle Market Size in India

The Indian snow motor vehicle market was estimated at $X in 2022, with an increase of 5.9% against the previous year. Overall, consumption, however, recorded a relatively flat trend pattern. Snow motor vehicle consumption peaked at $X in 2012; afterwards, it flattened through to 2022.

Snow Motor Vehicle Production in India

In value terms, snow motor vehicle production declined rapidly to $X in 2022 estimated in export price. In general, production showed a abrupt contraction. The growth pace was the most rapid in 2021 with an increase of 90% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Snow Motor Vehicle Exports

Exports from India

Snow motor vehicle exports from India fell sharply to X units in 2022, with a decrease of -19.5% compared with the previous year's figure. Over the period under review, exports, however, recorded a buoyant increase. The pace of growth appeared the most rapid in 2014 with an increase of 254%. Over the period under review, the exports hit record highs at X units in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, snow motor vehicle exports fell to $X in 2022. In general, exports, however, showed a strong increase. The growth pace was the most rapid in 2014 with an increase of 547% against the previous year. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

Nepal (X units) was the main destination for snow motor vehicle exports from India, with a 51% share of total exports. Moreover, snow motor vehicle exports to Nepal exceeded the volume sent to the second major destination, the United States (X units), twofold. The third position in this ranking was taken by Maldives (X units), with a 6.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Nepal stood at +11.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+53.4% per year) and Maldives (+68.2% per year).

In value terms, Nepal ($X), Maldives ($X) and the United States ($X) were the largest markets for snow motor vehicle exported from India worldwide, with a combined 65% share of total exports.

Among the main countries of destination, Maldives, with a CAGR of +101.2%, 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 snow motor vehicle export price stood at $X per unit in 2022, growing by 18% against the previous year. Over the period under review, the export price, however, saw a abrupt decline. The most prominent rate of growth was recorded in 2014 when the average export price increased by 83%. As a result, the export price attained the peak level of $X per unit. From 2015 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Maldives ($X per unit), while the average price for exports to the United States ($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 Maldives (+19.6%), while the prices for the other major destinations experienced mixed trend patterns.

Snow Motor Vehicle Imports

Imports into India

In 2022, supplies from abroad of motor vehicles for travelling on snow or golf cars increased by 22% to X units, rising for the second consecutive year after two years of decline. Over the period under review, imports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of 234% against the previous year. Over the period under review, imports hit record highs at X units in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, snow motor vehicle imports surged to $X in 2022. In general, imports, however, continue to indicate a perceptible decline. The most prominent rate of growth was recorded in 2021 when imports increased by 182%. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X units) constituted the largest snow motor vehicle supplier to India, with a 63% share of total imports. Moreover, snow motor vehicle imports from China exceeded the figures recorded by the second-largest supplier, Thailand (X units), threefold.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +4.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+51.9% per year) and the United States (-13.9% per year).

In value terms, China ($X), Thailand ($X) and the United States ($X) appeared to be the largest snow motor vehicle suppliers to India, with a combined 99% share of total imports.

Thailand, with a CAGR of +50.4%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average snow motor vehicle import price stood at $X per unit in 2022, declining by -5.5% against the previous year. Over the period under review, the import price saw a perceptible decline. The growth pace was the most rapid in 2019 an increase of 50% against the previous year. As a result, import price attained the peak level of $X per unit. From 2020 to 2022, the average import prices remained at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+0.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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