India - Steel Springs And Leaves For Springs - Market Analysis, Forecast, Size, Trends and Insights
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View PricingImports of Steel Springs From India Decrease by 11% to $10M in October 2023
India Steel Spring Imports
In October 2023, imports of steel springs and leaves for springs into India rose sharply to 1.1K tons, surging by 8.9% compared with September 2023 figures. Overall, imports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in March 2023 when imports increased by 34% m-o-m.
In value terms, steel spring imports fell to $10M (IndexBox estimates) in October 2023. Over the period under review, imports, however, saw a slight curtailment. The growth pace was the most rapid in August 2023 when imports increased by 21% against the previous month. As a result, imports attained the peak of $15M. From September 2023 to October 2023, the growth of imports remained at a somewhat lower figure.
| COUNTRY | Import Value of Steel Spring in India (million USD) | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Oct 2022 | Nov 2022 | Dec 2022 | Jan 2023 | Feb 2023 | Mar 2023 | Apr 2023 | May 2023 | Jun 2023 | Jul 2023 | Aug 2023 | Sep 2023 | Oct 2023 | |
| China | 1.3 | 1.7 | 1.6 | 1.7 | 2.1 | 2.1 | 1.6 | 2.1 | 1.9 | 1.8 | 2.3 | 1.8 | 2.0 |
| Germany | 3.3 | 2.4 | 2.2 | 2.5 | 2.5 | 2.5 | 2.8 | 3.1 | 1.7 | 2.5 | 2.9 | 2.1 | 1.7 |
| United States | 1.3 | 1.2 | 1.3 | 1.3 | 1.2 | 1.3 | 0.9 | 1.5 | 1.3 | 1.4 | 1.7 | 1.4 | 0.8 |
| South Korea | 1.1 | 0.8 | 0.9 | 0.8 | 0.8 | 1.3 | 0.8 | 1.0 | 0.9 | 1.0 | 0.8 | 0.7 | 0.8 |
| Spain | 0.3 | 0.2 | 0.3 | 0.3 | 0.3 | 0.6 | 0.1 | 0.5 | 0.2 | 0.2 | 0.3 | 0.3 | 0.1 |
| Others | 5.4 | 5.5 | 5.5 | 5.1 | 5.0 | 5.6 | 5.3 | 5.1 | 4.7 | 5.4 | 7.1 | 5.4 | 5.0 |
| Total | 12.7 | 11.7 | 11.8 | 11.7 | 11.8 | 13.4 | 11.6 | 13.3 | 10.7 | 12.5 | 15.1 | 11.7 | 10.4 |
Imports by Country
In October 2023, China (426 tons) constituted the largest supplier of steel spring to India, accounting for a 38% share of total imports. Moreover, steel spring imports from China exceeded the figures recorded by the second-largest supplier, Germany (198 tons), twofold. South Korea (88 tons) ranked third in terms of total imports with a 7.8% share.
From October 2022 to October 2023, the average monthly growth rate of volume from China totaled +5.1%. The remaining supplying countries recorded the following average monthly rates of imports growth: Germany (-0.9% per month) and South Korea (-0.3% per month).
In value terms, the largest steel spring suppliers to India were China ($2M), Germany ($1.7M) and the United States ($844K), with a combined 43% share of total imports.
Among the main suppliers, China, with a CAGR of +3.5%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced a decline.
Imports by Type
Iron or steel flat spiral or discs springs (544 tons), iron or steel hot-worked helical springs (307 tons) and iron or steel leaf-springs and leaves (277 tons) were the main products of steel spring imports to India.
From October 2022 to October 2023, the biggest increases were in metal hot-worked helical spring (with a CAGR of +3.2%), while purchases for the other products experienced mixed trend patterns.
In value terms, iron or steel flat spiral or discs springs ($6.2M) constituted the largest type of steel spring supplied to India, comprising 60% of total imports. The second position in the ranking was held by iron or steel hot-worked helical springs ($2.7M), with a 26% share of total imports.
Import Prices by Country
In October 2023, the steel spring price stood at $9,240 per ton (CIF, India), falling by -17.9% against the previous month. In general, the import price showed a slight reduction. The pace of growth appeared the most rapid in February 2023 an increase of 26% m-o-m. As a result, import price reached the peak level of $11,364 per ton. From March 2023 to October 2023, the average import prices failed to regain momentum.
Prices varied noticeably by the country of origin: the country with the highest price was Indonesia ($140K per ton), while the price for Malaysia ($2,667 per ton) was amongst the lowest.
From October 2022 to October 2023, the most notable rate of growth in terms of prices was attained by Indonesia (+41.8%), while the prices for the other major suppliers experienced more modest paces of growth.
This report provides an in-depth analysis of the steel spring market in India. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 25931613 - Iron or steel hot-worked laminated leaf-springs and leaves therefor
- Prodcom 25931615 - Iron or steel hot-worked non-laminated leaf-springs and leaves therefor
- Prodcom 25931617 - Iron or steel cold-formed leaf-springs and leaves therefor
- Prodcom 25931631 - Iron or steel hot-worked helical springs
- Prodcom 25931633 - Iron or steel cold-formed helical coil compression springs
- Prodcom 25931635 - Iron or steel cold-formed helical coil tension springs
- Prodcom 25931637 - Iron or steel cold-formed helical springs (excluding helical coil compression springs, helical coil tension springs)
- Prodcom 25931653 - Iron or steel flat spiral springs
- Prodcom 25931655 - Iron or steel discs springs
- Prodcom 25931660 - Iron or steel springs (excluding leaf-springs and leaves therefor, helical springs, flat spiral springs, discs springs)
Country coverage:
- India
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in India
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
