Southern Asia: Market for Industrial, Laboratory or Bakery Ovens 2024

Market Size for Industrial, Laboratory or Bakery Ovens in Southern Asia

The South Asian market for industrial, laboratory or bakery ovens stood at $X in 2022, approximately mirroring the previous year. Over the period under review, consumption posted a buoyant expansion. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Production of Industrial, Laboratory or Bakery Ovens in Southern Asia

In value terms, industrial, laboratory or bakery oven production totaled $X in 2022 estimated in export price. In general, production showed a prominent increase. The most prominent rate of growth was recorded in 2019 when the production volume increased by 37% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Exports of Industrial, Laboratory or Bakery Ovens

Exports in Southern Asia

In 2022, industrial, laboratory or bakery oven exports in Southern Asia skyrocketed to X units, jumping by 30% against 2021. Overall, exports saw resilient growth. The most prominent rate of growth was recorded in 2016 with an increase of 157%. As a result, the exports attained the peak of X units. From 2017 to 2022, the growth of the exports failed to regain momentum.

In value terms, industrial, laboratory or bakery oven exports reduced modestly to $X in 2022. In general, exports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when exports increased by 54%. The level of export peaked at $X in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

Exports by Country

The shipments of the one major exporters of industrial, laboratory or bakery ovens, namely India, represented more than two-thirds of total export.

India was also the fastest-growing in terms of the industrial, laboratory or bakery ovens exports, with a CAGR of +5.5% 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 industrial, laboratory or bakery oven supplier in Southern Asia.

In India, industrial, laboratory or bakery oven exports remained relatively stable over the period from 2012-2022.

Export Prices by Country

The export price in Southern Asia stood at $X per unit in 2022, shrinking by -23.1% against the previous year. Overall, the export price showed a deep slump. The most prominent rate of growth was recorded in 2017 when the export price increased by 196% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2018 to 2022, the export prices remained at a lower figure.

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 -5.0% per year.

Imports of Industrial, Laboratory or Bakery Ovens

Imports in Southern Asia

In 2022, overseas purchases of industrial, laboratory or bakery ovens decreased by -12.6% to X units, falling for the second consecutive year after two years of growth. In general, imports, however, showed a prominent expansion. The most prominent rate of growth was recorded in 2019 when imports increased by 54% against the previous year. The volume of import peaked at X units in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, industrial, laboratory or bakery oven imports declined to $X in 2022. Over the period under review, imports, however, continue to indicate pronounced growth. The most prominent rate of growth was recorded in 2020 when imports increased by 53%. As a result, imports attained the peak of $X. From 2021 to 2022, the growth of imports remained at a lower figure.

Imports by Country

India represented the largest importing country with an import of around X units, which reached 58% of total imports. Bangladesh (X units) held an 18% share (based on physical terms) of total imports, which put it in second place, followed by Nepal (13%) and Pakistan (4.7%). The following importers - Sri Lanka (X units) and Maldives (X units) - together made up 5.8% of total imports.

From 2012 to 2022, average annual rates of growth with regard to industrial, laboratory or bakery oven imports into India stood at +10.6%. At the same time, Maldives (+30.8%), Nepal (+16.7%), Bangladesh (+12.3%) and Sri Lanka (+4.8%) displayed positive paces of growth. Moreover, Maldives emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of +30.8% from 2012-2022. By contrast, Pakistan (-4.6%) illustrated a downward trend over the same period. While the share of India (+6.2 p.p.), Nepal (+6.2 p.p.), Bangladesh (+4.4 p.p.) and Maldives (+1.7 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Sri Lanka (-2 p.p.) and Pakistan (-13.4 p.p.) displayed negative dynamics.

In value terms, India ($X) constitutes the largest market for imported industrial, laboratory or bakery ovens in Southern Asia, comprising 74% of total imports. The second position in the ranking was held by Bangladesh ($X), with a 16% share of total imports. It was followed by Pakistan, with a 3.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value in India totaled +2.5%. In the other countries, the average annual rates were as follows: Bangladesh (+9.5% per year) and Pakistan (+9.4% per year).

Import Prices by Country

The import price in Southern Asia stood at $X per unit in 2022, rising by 6.4% against the previous year. Overall, the import price, however, saw a abrupt shrinkage. The most prominent rate of growth was recorded in 2018 an increase of 63%. Over the period under review, import prices hit record highs at $X per unit in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was India ($X per unit), while Nepal ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Pakistan (+14.7%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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