India: Wood Drilling Machine Market 2022

Wood Drilling Machine Market Size in India

The Indian wood drilling machine market soared to $X in 2021, jumping by 20% against the previous year. Over the period under review, the total consumption indicated noticeable growth from 2012 to 2021: its value increased at an average annual rate of +3.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -9.0% against 2019 indices. Wood drilling machine consumption peaked at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Wood Drilling Machine Production in India

In value terms, wood drilling machine production surged to $X in 2021 estimated in export price. Overall, production continues to indicate noticeable growth. The most prominent rate of growth was recorded in 2017 when the production volume increased by 36% against the previous year. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Wood Drilling Machine Exports

Exports from India

For the third consecutive year, India recorded decline in shipments abroad of drilling or morticing machines, which decreased by -35.7% to X units in 2021. Over the period under review, exports recorded a noticeable shrinkage. The most prominent rate of growth was recorded in 2018 when exports increased by 215%. As a result, the exports reached the peak of X units. From 2019 to 2021, the growth of the exports failed to regain momentum.

In value terms, wood drilling machine exports plummeted to $X in 2021. Overall, exports recorded a abrupt decline. The most prominent rate of growth was recorded in 2018 with an increase of 236% against the previous year. As a result, the exports reached the peak of $X. From 2019 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Belgium (X units) was the main destination for wood drilling machine exports from India, with a 51% share of total exports. Moreover, wood drilling machine exports to Belgium exceeded the volume sent to the second major destination, Nepal (X units), threefold. The third position in this ranking was taken by the United States (X units), with a 6.1% share.

From 2012 to 2021, the average annual growth rate of volume to Belgium was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Nepal (+9.3% per year) and the United States (-17.2% per year).

In value terms, the largest markets for wood drilling machine exported from India were Belgium ($X), the United States ($X) and Nepal ($X), with a combined 72% share of total exports. The United Arab Emirates, Kenya, Tanzania, Bhutan and Djibouti lagged somewhat behind, together comprising a further 11%.

The United Arab Emirates, with a CAGR of +22.1%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average wood drilling machine export price stood at $X per unit in 2021, dropping by -63.5% against the previous year. Overall, the export price saw a abrupt descent. The growth pace was the most rapid in 2016 an increase of 70%. Over the period under review, the average export prices reached the peak figure at $X per unit in 2018; however, from 2019 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was the United States ($X per unit), while the average price for exports to Djibouti ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+5.0%), while the prices for the other major destinations experienced more modest paces of growth.

Wood Drilling Machine Imports

Imports into India

In 2021, approx. X units of drilling or morticing machines were imported into India; jumping by 74% compared with the year before. Over the period under review, imports posted a remarkable increase. The growth pace was the most rapid in 2016 with an increase of 112% against the previous year. As a result, imports attained the peak of X units. From 2017 to 2021, the growth of imports failed to regain momentum.

In value terms, wood drilling machine imports skyrocketed to $X in 2021. In general, imports saw a resilient expansion. The growth pace was the most rapid in 2013 with an increase of 79%. Imports peaked at $X in 2017; however, from 2018 to 2021, imports failed to regain momentum.

Imports by Country

Bangladesh (X units), the United States (X units) and China (X units) were the main suppliers of wood drilling machine imports to India, together comprising 69% of total imports.

From 2012 to 2021, the biggest increases were in the United States (with a CAGR of +54.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest wood drilling machine suppliers to India were China ($X), the United States ($X) and Germany ($X), with a combined 50% share of total imports.

Among the main suppliers, the United States, with a CAGR of +44.0%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average wood drilling machine import price amounted to $X per unit, reducing by -17.8% against the previous year. In general, the import price, however, showed pronounced growth. The pace of growth appeared the most rapid in 2017 an increase of 105%. The import price peaked at $X per unit in 2018; however, from 2019 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Germany ($X per unit), while the price for Bangladesh ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+40.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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