India: Market for Numerically Controlled Sharpening Machines For Working Metal 2024

Market Size for Numerically Controlled Sharpening Machines For Working Metal in India

The Indian numerically controlled sharpening machine market stood at $X in 2022, remaining relatively unchanged against the previous year. The market value increased at an average annual rate of +1.0% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations in certain years. The pace of growth appeared the most rapid in 2017 with an increase of 1.9% against the previous year. Numerically controlled sharpening machine consumption peaked in 2022 and is expected to retain growth in the near future.

Production of Numerically Controlled Sharpening Machines For Working Metal in India

In value terms, numerically controlled sharpening machine production reached $X in 2022 estimated in export price. In general, production showed a slight expansion. The most prominent rate of growth was recorded in 2017 when the production volume increased by 2.5%. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Exports of Numerically Controlled Sharpening Machines For Working Metal

Exports from India

In 2022, overseas shipments of numerically controlled sharpening machines for working metal increased by 11% to X units, rising for the second consecutive year after three years of decline. In general, exports showed significant growth. The most prominent rate of growth was recorded in 2015 with an increase of 250% against the previous year. The exports peaked in 2022 and are likely to see steady growth in the immediate term.

In value terms, numerically controlled sharpening machine exports dropped to $X in 2022. Overall, exports showed significant growth. The growth pace was the most rapid in 2015 with an increase of 809%. Over the period under review, the exports attained the peak figure at $X in 2021, and then fell in the following year.

Exports by Country

China (X units) was the main destination for numerically controlled sharpening machine exports from India, with a 39% share of total exports. Moreover, numerically controlled sharpening machine exports to China exceeded the volume sent to the second major destination, Vietnam (X units), twofold. The third position in this ranking was held by Thailand (X units), with a 15% share.

From 2012 to 2022, the average annual growth rate of volume to China amounted to +20.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+3.3% per year) and Thailand (+68.1% per year).

In value terms, China ($X) remains the key foreign market for numerically controlled sharpening machines for working metal exports from India, comprising 87% of total exports. The second position in the ranking was taken by Thailand ($X), with a 6% share of total exports. It was followed by Vietnam, with a 2.6% share.

From 2012 to 2022, the average annual growth rate of value to China stood at +46.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (+100.5% per year) and Vietnam (-33.6% per year).

Export Prices by Country

The average numerically controlled sharpening machine export price stood at $X per unit in 2022, shrinking by -16.3% against the previous year. Over the period under review, the export price, however, continues to indicate a significant expansion. The pace of growth was the most pronounced in 2015 an increase of 160%. The export price peaked at $X per unit in 2020; however, from 2021 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was China ($X per unit), while the average price for exports to Botswana ($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 China (+21.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Numerically Controlled Sharpening Machines For Working Metal

Imports into India

Numerically controlled sharpening machine imports into India skyrocketed to X units in 2022, jumping by 148% against 2021 figures. Over the period under review, imports continue to indicate a buoyant increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, numerically controlled sharpening machine imports soared to $X in 2022. Overall, imports continue to indicate a significant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, China (X units) constituted the largest supplier of numerically controlled sharpening machine to India, with a 64% share of total imports. Moreover, numerically controlled sharpening machine imports from China exceeded the figures recorded by the second-largest supplier, the United States (X units), sixfold. The third position in this ranking was held by Thailand (X units), with a 9% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +47.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-1.0% per year) and Thailand (+42.3% per year).

In value terms, Thailand ($X) constituted the largest supplier of numerically controlled sharpening machines for working metal to India, comprising 41% of total imports. The second position in the ranking was taken by South Korea ($X), with a 15% share of total imports. It was followed by China, with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Thailand amounted to +124.0%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+28.1% per year) and China (+43.3% per year).

Import Prices by Country

In 2022, the average numerically controlled sharpening machine import price amounted to $X per unit, reducing by -23.4% against the previous year. Over the period under review, the import price, however, showed a measured increase. The pace of growth appeared the most rapid in 2014 an increase of 118% against the previous year. The import price peaked at $X per unit in 2016; however, from 2017 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Japan ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+57.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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