India: Vapour Generating Boiler Market 2024

Vapour Generating Boiler Market Size in India

In 2021, the Indian vapour generating boiler market decreased by -2.2% to $X for the first time since 2017, thus ending a three-year rising trend. In general, consumption, however, continues to indicate a pronounced contraction. The most prominent rate of growth was recorded in 2018 when the market value increased by 8.7%. Vapour generating boiler consumption peaked at $X in 2013; however, from 2014 to 2021, consumption stood at a somewhat lower figure.

Vapour Generating Boiler Production in India

In value terms, vapour generating boiler production declined modestly to $X in 2021 estimated in export price. Over the period under review, production, however, showed a noticeable shrinkage. The pace of growth was the most pronounced in 2018 with an increase of 14% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Vapour Generating Boiler Exports

Exports from India

After two years of decline, overseas shipments of vapour generating boilers increased by 48% to X tons in 2021. Overall, exports, however, recorded a abrupt descent. The most prominent rate of growth was recorded in 2014 when exports increased by 81%. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, vapour generating boiler exports skyrocketed to $X in 2021. In general, exports, however, saw a deep contraction. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Bangladesh (X tons), Sri Lanka (X tons) and the United Arab Emirates (X tons) were the main destinations of vapour generating boiler exports from India, with a combined 40% share of total exports. Nigeria, Nepal, Egypt, Kenya, Democratic Republic of the Congo, Russia, Uganda, Tanzania, Malaysia and Singapore lagged somewhat behind, together comprising a further 44%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Russia (with a CAGR of +122.4%), while the other leaders experienced more modest paces of growth.

In value terms, Bangladesh ($X), the United Arab Emirates ($X) and Sri Lanka ($X) appeared to be the largest markets for vapour generating boiler exported from India worldwide, with a combined 38% share of total exports. Nigeria, Nepal, Egypt, Russia, Kenya, Singapore, Uganda, Democratic Republic of the Congo, Malaysia and Tanzania lagged somewhat behind, together accounting for a further 43%.

Russia, with a CAGR of +118.7%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average vapour generating boiler export price stood at $X per ton in 2021, picking up by 12% against the previous year. In general, the export price, however, recorded a perceptible slump. The most prominent rate of growth was recorded in 2020 when the average export price increased by 18%. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Singapore ($X per ton), while the average price for exports to Tanzania ($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 Tanzania (+3.8%), while the prices for the other major destinations experienced more modest paces of growth.

Vapour Generating Boiler Imports

Imports into India

In 2021, the amount of vapour generating boilers imported into India skyrocketed to X tons, jumping by 124% on 2020 figures. Over the period under review, imports, however, saw a deep slump. The most prominent rate of growth was recorded in 2019 with an increase of 321%. Imports peaked at X tons in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

In value terms, vapour generating boiler imports soared to $X in 2021. Overall, imports, however, faced a deep slump. The pace of growth appeared the most rapid in 2014 when imports increased by 215% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) was the main vapour generating boiler supplier to India, accounting for a 90% share of total imports. Moreover, vapour generating boiler imports from China exceeded the figures recorded by the second-largest supplier, Germany (X tons), more than tenfold. The third position in this ranking was taken by the United States (X tons), with a 2.3% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at -7.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-0.3% per year) and the United States (-24.0% per year).

In value terms, China ($X) constituted the largest supplier of vapour generating boilers to India, comprising 75% of total imports. The second position in the ranking was held by Germany ($X), with a 12% share of total imports. It was followed by the United States, with a 4.7% share.

From 2012 to 2021, the average annual growth rate of value from China totaled -3.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-1.6% per year) and the United States (-18.5% per year).

Import Prices by Country

In 2021, the average vapour generating boiler import price amounted to $X per ton, which is down by -9.1% against the previous year. Overall, the import price recorded a slight slump. The growth pace was the most rapid in 2013 an increase of 41%. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was South Korea ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+7.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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