Southern Asia: Brakes And Servo-Brakes Market 2024

Brakes And Servo-Brakes Market Size in Southern Asia

In 2022, the South Asian brakes and servo-brakes market decreased by -11.5% to $X, falling for the third year in a row after two years of growth. The total consumption indicated a measured expansion from 2012 to 2022: its value increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -36.3% against 2019 indices. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Brakes And Servo-Brakes Production in Southern Asia

In value terms, brakes and servo-brakes production shrank slightly to $X in 2022 estimated in export price. The total production indicated notable growth from 2012 to 2022: its value increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -11.2% against 2019 indices. The most prominent rate of growth was recorded in 2016 with an increase of 30% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Brakes And Servo-Brakes Exports

Exports in Southern Asia

For the third consecutive year, Southern Asia recorded growth in overseas shipments of brakes and servo-brakes, which increased by 25% to X tons in 2022. In general, exports showed a significant expansion. The pace of growth was the most pronounced in 2021 with an increase of 65%. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in years to come.

In value terms, brakes and servo-brakes exports expanded remarkably to $X in 2022. Over the period under review, exports recorded strong growth. The pace of growth was the most pronounced in 2016 when exports increased by 81% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the immediate term.

Exports by Country

India (X tons) represented roughly 99.9% of total exports in 2022.

India was also the fastest-growing in terms of the brakes and servo-brakes exports, with a CAGR of +21.1% from 2012 to 2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, India ($X) also remains the largest brakes and servo-brakes supplier in Southern Asia.

From 2012 to 2022, the average annual rate of growth in terms of value in India stood at +19.7%.

Export Prices by Country

The export price in Southern Asia stood at $X per ton in 2022, with a decrease of -8.6% against the previous year. Overall, the export price saw a slight decline. The growth pace was the most rapid in 2016 when the export price increased by 36%. As a result, the export price reached the peak level of $X per ton. From 2017 to 2022, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for India.

From 2012 to 2022, the rate of growth in terms of prices for India amounted to -1.2% per year.

Brakes And Servo-Brakes Imports

Imports in Southern Asia

In 2022, the amount of brakes and servo-brakes imported in Southern Asia stood at X tons, approximately reflecting the year before. In general, imports posted a prominent increase. The pace of growth appeared the most rapid in 2021 with an increase of 77% against the previous year. The volume of import peaked in 2022 and is likely to continue growth in the near future.

In value terms, brakes and servo-brakes imports rose notably to $X in 2022. Total imports indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +7.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +64.6% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 44% against the previous year. The level of import peaked in 2022 and is likely to see steady growth in the near future.

Imports by Country

India prevails in imports structure, finishing at X tons, which was near 81% of total imports in 2022. It was distantly followed by Bangladesh (X tons), creating a 7.5% share of total imports. Afghanistan (X tons), Sri Lanka (X tons) and Pakistan (X tons) held a minor share of total imports.

Imports into India increased at an average annual rate of +9.8% from 2012 to 2022. At the same time, Afghanistan (+18.7%), Pakistan (+11.2%) and Bangladesh (+6.5%) displayed positive paces of growth. Moreover, Afghanistan emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of +18.7% from 2012-2022. Sri Lanka experienced a relatively flat trend pattern. While the share of India (+3.3 p.p.) and Afghanistan (+2.2 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Bangladesh (-2.2 p.p.) and Sri Lanka (-5.1 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported brakes and servo-brakes in Southern Asia, comprising 89% of total imports. The second position in the ranking was taken by Bangladesh ($X), with a 3.7% share of total imports. It was followed by Pakistan, with a 2.8% share.

From 2012 to 2022, the average annual growth rate of value in India totaled +6.8%. In the other countries, the average annual rates were as follows: Bangladesh (+13.2% per year) and Pakistan (+13.4% per year).

Import Prices by Country

In 2022, the import price in Southern Asia amounted to $X per ton, picking up by 14% against the previous year. Over the period under review, the import price, however, recorded a perceptible downturn. The most prominent rate of growth was recorded in 2014 an increase of 24%. Over the period under review, import prices attained the maximum at $X per ton in 2015; however, from 2016 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Pakistan ($X per ton), while Afghanistan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bangladesh (+6.3%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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