India: Full-Rotation Excavator Market 2024

Full-Rotation Excavator Market Size in India

In 2021, the Indian full-rotation excavator market decreased by -2.1% to $X, falling for the second consecutive year after three years of growth. Overall, consumption continues to indicate a noticeable decrease. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Full-Rotation Excavator Production in India

In value terms, full-rotation excavator production expanded sharply to $X in 2021 estimated in export price. Over the period under review, production saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the production volume increased by 33% against the previous year. Full-rotation excavator production peaked at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Full-Rotation Excavator Exports

Exports from India

In 2021, shipments abroad of self-propelled full-rotation excavators and bulldozers increased by 115% to X units, rising for the second consecutive year after two years of decline. Overall, exports continue to indicate a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, full-rotation excavator exports skyrocketed to $X in 2021. Over the period under review, exports showed significant growth. 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 full-rotation excavator exports from India, accounting for a 21% share of total exports. Moreover, full-rotation excavator exports to Nepal exceeded the volume sent to the second major destination, Ghana (X units), twofold. The third position in this ranking was held by Bangladesh (X units), with a 7.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Nepal totaled +54.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ghana (+51.5% per year) and Bangladesh (+69.6% per year).

In value terms, Nepal ($X) remains the key foreign market for self-propelled full-rotation excavators and bulldozers exports from India, comprising 21% of total exports. The second position in the ranking was taken by Ghana ($X), with a 10% share of total exports. It was followed by Bhutan, with a 6.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Nepal amounted to +53.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ghana (+47.9% per year) and Bhutan (+43.5% per year).

Export Prices by Country

The average full-rotation excavator export price stood at $X per unit in 2021, rising by 13% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 an increase of 18% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2015 to 2021, the average export prices remained at a 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 Zambia ($X per unit), while the average price for exports to Bangladesh ($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 Guinea (+2.3%), while the prices for the other major destinations experienced more modest paces of growth.

Full-Rotation Excavator Imports

Imports into India

In 2021, the amount of self-propelled full-rotation excavators and bulldozers imported into India surged to X units, with an increase of 108% against the previous year. Over the period under review, imports saw a prominent expansion. The growth pace was the most rapid in 2018 with an increase of 124% against the previous year. Over the period under review, imports attained the maximum in 2021 and are expected to retain growth in years to come.

In value terms, full-rotation excavator imports skyrocketed to $X in 2021. In general, imports saw a resilient increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

China (X units), Japan (X units) and South Korea (X units) were the main suppliers of full-rotation excavator imports to India, with a combined 74% share of total imports. These countries were followed by the Czech Republic, Germany, Russia, France and Thailand, which together accounted for a further 21%.

From 2012 to 2021, the biggest increases were recorded for the Czech Republic (with a CAGR of +46.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, South Korea ($X), Japan ($X) and China ($X) appeared to be the largest full-rotation excavator suppliers to India, together accounting for 76% of total imports. These countries were followed by Russia, Germany, the Czech Republic, France and Thailand, which together accounted for a further 13%.

The Czech Republic, with a CAGR of +61.6%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average full-rotation excavator import price stood at $X per unit in 2021, reducing by -15.6% against the previous year. In general, the import price, however, saw a tangible increase. The growth pace was the most rapid in 2013 an increase of 47%. 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 ($X per unit), while the price for the Czech Republic ($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 Czech Republic (+10.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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