Southern Asia: Suspension System Market 2025

Suspension System Market Size in Southern Asia

The South Asian suspension system market reached $X in 2022, almost unchanged from the previous year. Overall, consumption posted resilient growth. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Suspension System Production in Southern Asia

In value terms, suspension system production stood at $X in 2022 estimated in export price. In general, production enjoyed strong growth. The most prominent rate of growth was recorded in 2016 when the production volume increased by 67%. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Suspension System Exports

Exports in Southern Asia

In 2022, overseas shipments of suspension systems increased by 10% to X tons, rising for the second year in a row after two years of decline. Overall, exports enjoyed a resilient increase. The most prominent rate of growth was recorded in 2016 when exports increased by 88% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are likely to see steady growth in the immediate term.

In value terms, suspension system exports expanded remarkably to $X in 2022. In general, exports enjoyed a resilient increase. The pace of growth appeared the most rapid in 2016 with an increase of 113% against the previous year. The level of export peaked in 2022 and is likely to continue growth in the near future.

Exports by Country

In 2022, India (X tons) represented the largest exporter of suspension systems in Southern Asia, comprising 100% of total export.

India was also the fastest-growing in terms of the suspension systems exports, with a CAGR of +10.1% 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 suspension system supplier in Southern Asia.

From 2012 to 2022, the average annual growth rate of value in India amounted to +11.4%.

Export Prices by Country

In 2022, the export price in Southern Asia amounted to $X per ton, almost unchanged from the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.1%. The pace of growth was the most pronounced in 2019 an increase of 13% against the previous year. Over the period under review, the export prices reached the peak figure at $X per ton in 2020; however, from 2021 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 +1.2% per year.

Suspension System Imports

Imports in Southern Asia

In 2022, overseas purchases of suspension systems increased by 5.6% to X tons, rising for the second consecutive year after two years of decline. In general, imports enjoyed resilient growth. The pace of growth appeared the most rapid in 2021 with an increase of 101% against the previous year. The volume of import peaked in 2022 and is likely to see gradual growth in years to come.

In value terms, suspension system imports expanded remarkably to $X in 2022. Total imports indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +5.8% 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 +90.1% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 68% against the previous year. The level of import peaked in 2022 and is expected to retain growth in the immediate term.

Imports by Country

India was the main importer of suspension systems in Southern Asia, with the volume of imports resulting at X tons, which was approx. 76% of total imports in 2022. Bangladesh (X tons) held the second position in the ranking, followed by Pakistan (X tons). All these countries together took approx. 17% share of total imports. Sri Lanka (X tons) and Afghanistan (X tons) took a relatively small share of total imports.

Imports into India increased at an average annual rate of +8.1% from 2012 to 2022. At the same time, Bangladesh (+9.6%) displayed positive paces of growth. Moreover, Bangladesh emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of +9.6% from 2012-2022. Pakistan experienced a relatively flat trend pattern. By contrast, Afghanistan (-1.3%) and Sri Lanka (-3.0%) illustrated a downward trend over the same period. India (+11 p.p.) and Bangladesh (+3 p.p.) significantly strengthened its position in terms of the total imports, while Afghanistan, Pakistan and Sri Lanka saw its share reduced by -3.5%, -4.8% and -5.8% from 2012 to 2022, respectively.

In value terms, India ($X) constitutes the largest market for imported suspension systems in Southern Asia, comprising 81% of total imports. The second position in the ranking was taken by Pakistan ($X), with a 7.8% share of total imports. It was followed by Bangladesh, with a 5.8% share.

In India, suspension system imports expanded at an average annual rate of +8.0% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Pakistan (-2.4% per year) and Bangladesh (+6.8% per year).

Import Prices by Country

The import price in Southern Asia stood at $X per ton in 2022, growing by 7.3% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the import price increased by 31% against the previous year. As a result, import price attained the peak level of $X per ton. From 2016 to 2022, the import prices failed to regain momentum.

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 Pakistan ($X per ton), while Bangladesh ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Afghanistan (+2.3%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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