India: Self-Propelled Excavating Machinery Market 2024

Self-Propelled Excavating Machinery Market Size in India

In 2021, after three years of decline, there was significant growth in the Indian self-propelled excavating machinery market, when its value increased by 19% to $X. In general, consumption showed a modest increase. Over the period under review, the market reached the maximum level in 2021 and is expected to retain growth in the immediate term.

Self-Propelled Excavating Machinery Production in India

In value terms, self-propelled excavating machinery production reduced modestly to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the production volume increased by 2.7%. Self-propelled excavating machinery production peaked at $X in 2020, and then declined in the following year.

Self-Propelled Excavating Machinery Exports

Exports from India

After three years of growth, overseas shipments of self-propelled earth moving, excavating machinery decreased by -89.9% to X units in 2021. In general, exports saw a abrupt downturn. The growth pace was the most rapid in 2015 when exports increased by 372%. Over the period under review, the exports hit record highs at X units in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

In value terms, self-propelled excavating machinery exports soared to $X in 2021. Overall, exports, however, posted perceptible growth. The most prominent rate of growth was recorded in 2017 when exports increased by 192% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X units), the UK (X units) and Bangladesh (X units) were the main destinations of self-propelled excavating machinery exports from India, together accounting for 41% of total exports. Colombia, Australia, Bhutan, Vietnam, Indonesia, Canada, Belgium, Argentina, Singapore and South Africa lagged somewhat behind, together accounting for a further 40%.

From 2012 to 2021, the biggest increases were recorded for Vietnam (with a CAGR of +56.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for self-propelled excavating machinery exported from India were Bangladesh ($X), Australia ($X) and Vietnam ($X), together accounting for 30% of total exports. These countries were followed by Belgium, Bhutan, Indonesia, Argentina, Colombia, South Africa, Singapore, the United States, Canada and the UK, which together accounted for a further 37%.

In terms of the main countries of destination, Argentina, with a CAGR of +163.6%, recorded the highest growth rate of 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 self-propelled excavating machinery export price stood at $X per unit in 2021, with an increase of 1,376% against the previous year. Overall, the export price saw significant growth. The pace of growth appeared the most rapid in 2017 an increase of 9,102% against the previous year. The export price peaked in 2021 and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Argentina ($X per unit), while the average price for exports to the United States ($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 Argentina (+246.3%), while the prices for the other major destinations experienced more modest paces of growth.

Self-Propelled Excavating Machinery Imports

Imports into India

In 2021, purchases abroad of self-propelled earth moving, excavating machinery decreased by -11.8% to X units, falling for the second year in a row after two years of growth. Overall, imports saw a noticeable shrinkage. The most prominent rate of growth was recorded in 2016 when imports increased by 315% against the previous year. As a result, imports attained the peak of X units. From 2017 to 2021, the growth of imports remained at a lower figure.

In value terms, self-propelled excavating machinery imports reached $X in 2021. Over the period under review, imports, however, saw buoyant growth. The growth pace was the most rapid in 2016 when imports increased by 192% against the previous year. Over the period under review, imports reached the peak figure at $X in 2017; however, from 2018 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X units) constituted the largest supplier of self-propelled excavating machinery to India, accounting for a 64% share of total imports. Moreover, self-propelled excavating machinery imports from China exceeded the figures recorded by the second-largest supplier, Australia (X units), fivefold. The third position in this ranking was held by Germany (X units), with a 6.4% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to +12.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Australia (-8.7% per year) and Germany (+1.0% per year).

In value terms, Germany ($X) constituted the largest supplier of self-propelled earth moving, excavating machinery to India, comprising 40% of total imports. The second position in the ranking was held by Finland ($X), with a 12% share of total imports. It was followed by China, with a 9.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Germany amounted to +21.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Finland (+18.8% per year) and China (+5.8% per year).

Import Prices by Country

The average self-propelled excavating machinery import price stood at $X per unit in 2021, rising by 27% against the previous year. Over the period under review, the import price showed a prominent increase. The pace of growth was the most pronounced in 2017 an increase of 344%. As a result, import price attained the peak level of $X per unit. From 2018 to 2021, 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 Germany ($X per unit), while the price for Japan ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Australia (+30.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :