Southern Asia: Snow Motor Vehicle Market 2024

Snow Motor Vehicle Market Size in Southern Asia

The South Asian snow motor vehicle market declined slightly to $X in 2022, remaining stable against the previous year. Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Snow Motor Vehicle Production in Southern Asia

In value terms, snow motor vehicle production contracted markedly to $X in 2022 estimated in export price. Over the period under review, production, however, enjoyed a significant increase. The pace of growth was the most pronounced in 2019 with an increase of 14,086%. As a result, production reached the peak level of $X. From 2020 to 2022, production growth remained at a somewhat lower figure.

Snow Motor Vehicle Exports

Exports in Southern Asia

In 2022, approx. X units of motor vehicles for travelling on snow or golf cars were exported in Southern Asia; dropping by -19.7% against 2021. Overall, exports, however, continue to indicate a buoyant expansion. The growth pace was the most rapid in 2019 when exports increased by 231%. As a result, the exports reached the peak of X units. From 2020 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, snow motor vehicle exports reduced to $X in 2022. Over the period under review, exports, however, showed prominent growth. The most prominent rate of growth was recorded in 2014 when exports increased by 283% against the previous year. The level of export peaked at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The shipments of the one major exporters of motor vehicles for travelling on snow or golf cars, namely India, represented more than two-thirds of total export.

India was also the fastest-growing in terms of the motor vehicles for travelling on snow or golf cars exports, with a CAGR of +16.1% from 2012 to 2022. While the share of India (+3.6 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) also remains the largest snow motor vehicle supplier in Southern Asia.

From 2012 to 2022, the average annual growth rate of value in India stood at +6.3%.

Export Prices by Country

The export price in Southern Asia stood at $X per unit in 2022, with an increase of 17% against the previous year. Over the period under review, the export price, however, saw a deep reduction. The most prominent rate of growth was recorded in 2014 an increase of 39% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2015 to 2022, the export prices remained at a somewhat 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 -8.5% per year.

Snow Motor Vehicle Imports

Imports in Southern Asia

In 2022, purchases abroad of motor vehicles for travelling on snow or golf cars increased by 9.6% to X units, rising for the second year in a row after two years of decline. Over the period under review, imports saw a relatively flat trend pattern. The growth pace was the most rapid in 2018 with an increase of 66% against the previous year. As a result, imports attained the peak of X units. From 2019 to 2022, the growth of imports remained at a lower figure.

In value terms, snow motor vehicle imports totaled $X in 2022. Overall, imports, however, saw a perceptible curtailment. The most prominent rate of growth was recorded in 2021 with an increase of 70%. Over the period under review, imports attained the maximum at $X in 2015; however, from 2016 to 2022, imports failed to regain momentum.

Imports by Country

India was the main importer of motor vehicles for travelling on snow or golf cars in Southern Asia, with the volume of imports amounting to X units, which was near 52% of total imports in 2022. Nepal (X units) held an 18% share (based on physical terms) of total imports, which put it in second place, followed by Maldives (13%), Pakistan (8.2%) and Bangladesh (5.8%). Sri Lanka (X units) held a little share of total imports.

India experienced a relatively flat trend pattern with regard to volume of imports of motor vehicles for travelling on snow or golf cars. At the same time, Nepal (+35.1%), Bangladesh (+13.3%), Maldives (+6.0%) and Pakistan (+5.5%) displayed positive paces of growth. Moreover, Nepal emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of +35.1% from 2012-2022. By contrast, Sri Lanka (-8.8%) illustrated a downward trend over the same period. Nepal (+17 p.p.), Maldives (+5.1 p.p.), Bangladesh (+4.1 p.p.) and Pakistan (+3.1 p.p.) significantly strengthened its position in terms of the total imports, while Sri Lanka and India saw its share reduced by -3.5% and -8.8% from 2012 to 2022, respectively.

In value terms, India ($X) constitutes the largest market for imported motor vehicles for travelling on snow or golf cars in Southern Asia, comprising 54% of total imports. The second position in the ranking was taken by Maldives ($X), with an 18% share of total imports. It was followed by Bangladesh, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value in India amounted to -3.3%. In the other countries, the average annual rates were as follows: Maldives (+1.6% per year) and Bangladesh (+18.8% per year).

Import Prices by Country

In 2022, the import price in Southern Asia amounted to $X per unit, with a decrease of -8.2% against the previous year. Over the period under review, the import price recorded a noticeable contraction. The most prominent rate of growth was recorded in 2019 an increase of 66%. As a result, import price attained the peak level of $X per unit. From 2020 to 2022, the import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bangladesh (+4.9%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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