India: Silencer Market 2024

Silencer Market Size in India

After nine years of growth, the Indian silencer market decreased by -3.5% to $X in 2021. The market value increased at an average annual rate of +5.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2020, and then dropped in the following year.

Silencer Production in India

In value terms, silencer production declined to $X in 2021 estimated in export price. Overall, the total production indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +5.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +64.2% against 2012 indices. The most prominent rate of growth was recorded in 2013 when the production volume increased by 14%. Over the period under review, production reached the maximum level at $X in 2020, and then reduced in the following year.

Silencer Exports

Exports from India

In 2021, approx. X tons of silencers and exhaust pipes were exported from India; jumping by 46% compared with 2020 figures. Over the period under review, exports continue to indicate a significant expansion. The pace of growth appeared the most rapid in 2017 with an increase of 167% against the previous year. The exports peaked in 2021 and are likely to see steady growth in the immediate term.

In value terms, silencer exports skyrocketed to $X in 2021. In general, exports posted a significant increase. The most prominent rate of growth was recorded in 2017 with an increase of 154% against the previous year. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in years to come.

Exports by Country

The United States (X tons) was the main destination for silencer exports from India, with a 43% share of total exports. Moreover, silencer exports to the United States exceeded the volume sent to the second major destination, Belgium (X tons), fivefold. The Czech Republic (X tons) ranked third in terms of total exports with a 7.6% share.

From 2012 to 2021, the average annual growth rate of volume to the United States stood at +34.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (+23.9% per year) and the Czech Republic (+108.8% per year).

In value terms, the United States ($X) remains the key foreign market for silencer exports from India, comprising 35% of total exports. The second position in the ranking was held by Belgium ($X), with a 14% share of total exports. It was followed by the Czech Republic, with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States amounted to +31.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (+31.2% per year) and the Czech Republic (+115.1% per year).

Export Prices by Country

The average silencer export price stood at $X per ton in 2021, approximately equating the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.2%. The most prominent rate of growth was recorded in 2020 when the average export price increased by 16%. Over the period under review, the average export prices hit record highs at $X per ton in 2016; however, from 2017 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, the country with the highest price was Turkey ($X per ton), while the average price for exports to Egypt ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Turkey (+22.0%), while the prices for the other major destinations experienced more modest paces of growth.

Silencer Imports

Imports into India

In 2021, approx. X tons of silencers and exhaust pipes were imported into India; growing by 72% compared with the year before. Overall, total imports indicated strong growth from 2012 to 2021: its volume increased at an average annual rate of +6.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, silencer imports skyrocketed to $X in 2021. In general, imports saw a strong increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Thailand (X tons), Spain (X tons) and Japan (X tons) were the main suppliers of silencer imports to India, with a combined 61% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Spain (with a CAGR of +43.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest silencer suppliers to India were Spain ($X), Germany ($X) and Japan ($X), with a combined 63% share of total imports.

Among the main suppliers, Spain, with a CAGR of +56.0%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average silencer import price stood at $X per ton in 2021, surging by 37% against the previous year. Over the period under review, the import price recorded a resilient increase. The most prominent rate of growth was recorded in 2015 when the average import price increased by 60% against the previous year. As a result, import price attained the peak level of $X per ton. From 2016 to 2021, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Germany ($X per ton), while the price for Thailand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+8.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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