India: Vacuum Pump Market 2024

Vacuum Pump Market Size in India

The Indian vacuum pump market surged to $X in 2022, jumping by 22% against the previous year. Overall, consumption continues to indicate a remarkable increase. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market remained at a somewhat lower figure.

Vacuum Pump Production in India

In value terms, vacuum pump production declined to $X in 2022 estimated in export price. Overall, production, however, recorded a abrupt decrease. The pace of growth appeared the most rapid in 2015 when the production volume increased by 26% against the previous year. Vacuum pump production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Vacuum Pump Exports

Exports from India

In 2022, overseas shipments of vacuum pumps decreased by -31.2% to X units, falling for the second consecutive year after four years of growth. Overall, exports, however, recorded a significant expansion. The pace of growth was the most pronounced in 2018 when exports increased by 299%. The exports peaked at X units in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, vacuum pump exports skyrocketed to $X in 2022. In general, exports, however, continue to indicate a resilient expansion. The most prominent rate of growth was recorded in 2017 with an increase of 33%. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in the near future.

Exports by Country

The United States (X units) was the main destination for vacuum pump exports from India, with a 27% share of total exports. Moreover, vacuum pump exports to the United States exceeded the volume sent to the second major destination, Bangladesh (X units), twofold. The third position in this ranking was taken by Trinidad and Tobago (X units), with a 9.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States stood at +21.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bangladesh (+52.7% per year) and Trinidad and Tobago (+107.5% per year).

In value terms, the United States ($X) remains the key foreign market for vacuum pumps exports from India, comprising 19% of total exports. The second position in the ranking was taken by Germany ($X), with a 7.8% share of total exports. It was followed by Bangladesh, with a 6.2% share.

From 2012 to 2022, the average annual growth rate of value to the United States totaled +12.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+27.1% per year) and Bangladesh (+13.1% per year).

Export Prices by Country

The average vacuum pump export price stood at $X per unit in 2022, jumping by 82% against the previous year. In general, the export price, however, recorded a abrupt downturn. The most prominent rate of growth was recorded in 2015 when the average export price increased by 362% against the previous year. Over the period under review, the average export prices hit record highs at $X per unit in 2016; however, from 2017 to 2022, the export prices failed to regain momentum.

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 Saudi Arabia ($X per unit), while the average price for exports to Trinidad and Tobago ($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 Germany (-6.9%), while the prices for the other major destinations experienced a decline.

Vacuum Pump Imports

Imports into India

In 2022, imports of vacuum pumps into India surged to X units, growing by 49% on 2021. In general, imports enjoyed significant growth. The growth pace was the most rapid in 2014 with an increase of 115%. Imports peaked in 2022 and are expected to retain growth in years to come.

In value terms, vacuum pump imports surged to $X in 2022. Over the period under review, imports enjoyed a prominent increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

China (X units), Italy (X units) and Japan (X units) were the main suppliers of vacuum pump imports to India, with a combined 38% share of total imports. Germany, Singapore and South Korea lagged somewhat behind, together accounting for a further 8.1%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Singapore (with a CAGR of +52.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), China ($X) and Italy ($X) constituted the largest vacuum pump suppliers to India, with a combined 30% share of total imports. South Korea, Japan and Singapore lagged somewhat behind, together comprising a further 7.9%.

In terms of the main suppliers, Singapore, with a CAGR of +27.0%, recorded the highest growth rate of 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 vacuum pump import price stood at $X per unit in 2022, picking up by 14% against the previous year. Overall, the import price, however, showed a abrupt slump. The most prominent rate of growth was recorded in 2013 an increase of 80% against the previous year. As a result, import price attained the peak level of $X per unit. From 2014 to 2022, the average import prices remained at a 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 Germany ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+0.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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