Southern Asia: Railway Maintenance Vehicle Market 2024

Railway Maintenance Vehicle Market Size in Southern Asia

The South Asian railway maintenance vehicle market rose sharply to $X in 2021, picking up by 8.9% against the previous year. Over the period under review, consumption, however, recorded a perceptible descent. As a result, consumption reached the peak level of $X. From 2018 to 2021, the growth of the market failed to regain momentum.

Railway Maintenance Vehicle Production in Southern Asia

In value terms, railway maintenance vehicle production reached $X in 2021 estimated in export price. Over the period under review, production saw a modest increase. The most prominent rate of growth was recorded in 2015 with an increase of 45%. As a result, production attained the peak level of $X. From 2016 to 2021, production growth remained at a lower figure.

Railway Maintenance Vehicle Exports

Exports in Southern Asia

In 2021, the amount of railway or tramway maintenance or service vehicles exported in Southern Asia contracted to X units, with a decrease of -7.9% on 2020. Overall, exports, however, posted a remarkable increase. The most prominent rate of growth was recorded in 2015 with an increase of 1,064% against the previous year. As a result, the exports attained the peak of X units. From 2016 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, railway maintenance vehicle exports surged to $X in 2021. Over the period under review, exports, however, continue to indicate a resilient increase. The pace of growth appeared the most rapid in 2016 with an increase of 471% against the previous year. The level of export peaked in 2021 and is likely to continue growth in years to come.

Exports by Country

In 2021, India (X units) was the key exporter of railway or tramway maintenance or service vehicles in Southern Asia, comprising 100% of total export.

India was also the fastest-growing in terms of the railway or tramway maintenance or service vehicles exports, with a CAGR of +6.0% from 2013 to 2021. The shares of the largest exporters remained relatively stable throughout the analyzed period.

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

In India, railway maintenance vehicle exports expanded at an average annual rate of +6.3% over the period from 2013-2021.

Export Prices by Country

The export price in Southern Asia stood at $X per unit in 2021, picking up by 456% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the export price increased by 631% against the previous year. Over the period under review, the export prices hit record highs in 2021 and is expected to retain growth in years to come.

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

From 2013 to 2021, the rate of growth in terms of prices for India amounted to +0.4% per year.

Railway Maintenance Vehicle Imports

Imports in Southern Asia

In 2021, imports of railway or tramway maintenance or service vehicles in Southern Asia surged to X units, increasing by 39% against the previous year's figure. Over the period under review, imports, however, faced a abrupt shrinkage. The most prominent rate of growth was recorded in 2019 with an increase of 106% against the previous year. Over the period under review, imports hit record highs at X units in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, railway maintenance vehicle imports skyrocketed to $X in 2021. Overall, imports enjoyed a strong increase. The growth pace was the most rapid in 2014 when imports increased by 130%. Over the period under review, imports attained the maximum in 2021 and are likely to see gradual growth in the near future.

Imports by Country

In 2021, India (X units) represented the key importer of railway or tramway maintenance or service vehicles, mixing up 76% of total imports. It was distantly followed by Bangladesh (X units), making up an 18% share of total imports. Nepal (X units) and Pakistan (X units) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to railway maintenance vehicle imports into India stood at +7.0%. At the same time, Nepal (+41.4%) and Pakistan (+10.2%) displayed positive paces of growth. Moreover, Nepal emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of +41.4% from 2012-2021. By contrast, Bangladesh (-29.0%) illustrated a downward trend over the same period. While the share of India (+70 p.p.), Nepal (+3.1 p.p.) and Pakistan (+2.2 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Bangladesh (-36.4 p.p.) displayed negative dynamics.

In value terms, India ($X) constitutes the largest market for imported railway or tramway maintenance or service vehicles in Southern Asia, comprising 93% of total imports. The second position in the ranking was held by Bangladesh ($X), with a 3.1% share of total imports. It was followed by Pakistan, with a 1.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value in India stood at +17.3%. The remaining importing countries recorded the following average annual rates of imports growth: Bangladesh (-10.5% per year) and Pakistan (+15.1% per year).

Import Prices by Country

The import price in Southern Asia stood at $X per unit in 2021, surging by 11% against the previous year. Overall, the import price saw a significant expansion. The growth pace was the most rapid in 2014 when the import price increased by 327% against the previous year. The level of import peaked in 2021 and is likely to see gradual growth in the near future.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Bangladesh (+26.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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