India: Electronic Chip Market 2024

Electronic Chip Market Size in India

The Indian electronic chip market skyrocketed to $X in 2023, increasing by X% against the previous year. Over the period under review, consumption showed a remarkable increase. Electronic chip consumption peaked in 2023 and is likely to continue growth in the immediate term.

Electronic Chip Production in India

In value terms, electronic chip production dropped slightly to $X in 2023 estimated in export price. In general, production recorded a abrupt shrinkage. The most prominent rate of growth was recorded in 2022 when the production volume increased by X%. Electronic chip production peaked at $X in 2012; however, from 2013 to 2023, production remained at a lower figure.

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Electronic Chip Exports

Exports from India

After three years of growth, shipments abroad of electronic chips decreased by X% to X units in 2023. Over the period under review, exports showed a drastic downturn. The growth pace was the most rapid in 2022 with an increase of X% against the previous year. As a result, the exports reached the peak of X units, and then reduced markedly in the following year.

In value terms, electronic chip exports reduced dramatically to $X in 2023. In general, exports, however, enjoyed strong growth. The most prominent rate of growth was recorded in 2018 when exports increased by X% against the previous year. The exports peaked at $X in 2022, and then shrank significantly in the following year.

Exports by Country

Hong Kong SAR (X units) was the main destination for electronic chip exports from India, accounting for a X% share of total exports. Moreover, electronic chip exports to Hong Kong SAR exceeded the volume sent to the second major destination, Lithuania (X units), twofold. The third position in this ranking was taken by China (X units), with a X% share.

From 2012 to 2023, the average annual growth rate of volume to Hong Kong SAR stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Lithuania (X% per year) and China (X% per year).

In value terms, the largest markets for electronic chip exported from India were Hong Kong SAR ($X), the United Arab Emirates ($X) and Vietnam ($X), together accounting for X% of total exports. Lithuania, Oman, China, the United States, Singapore, South Korea, the Netherlands, Brazil and Germany lagged somewhat behind, together accounting for a further X%.

Lithuania, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, among 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

In 2023, the average electronic chip export price amounted to $X per unit, approximately equating the previous year. Overall, the export price, however, saw a significant increase. The most prominent rate of growth was recorded in 2018 an increase of X% against the previous year. The export price peaked at $X per unit in 2019; however, from 2020 to 2023, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2023, amid the top suppliers, the country with the highest price was Oman ($X per unit), while the average price for exports to the Netherlands ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to the United States (X%), while the prices for the other major destinations experienced more modest paces of growth.

Electronic Chip Imports

Imports into India

In 2023, approx. X units of electronic chips were imported into India; growing by X% against the previous year's figure. Overall, imports posted strong growth. The growth pace was the most rapid in 2018 with an increase of X% against the previous year. Imports peaked at X units in 2021; however, from 2022 to 2023, imports stood at a somewhat lower figure.

In value terms, electronic chip imports soared to $X in 2023. In general, imports saw a significant increase. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. Imports peaked in 2023 and are likely to see gradual growth in the immediate term.

Imports by Country

China (X units), Hong Kong SAR (X units) and Singapore (X units) were the main suppliers of electronic chip imports to India, with a combined X% share of total imports.

From 2012 to 2023, the biggest increases were recorded for Hong Kong SAR (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest electronic chip suppliers to India were China ($X), Hong Kong SAR ($X) and South Korea ($X), with a combined X% share of total imports.

Hong Kong SAR, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2023, the average electronic chip import price amounted to $X per unit, dropping by X% against the previous year. Over the period under review, the import price, however, enjoyed a notable increase. The most prominent rate of growth was recorded in 2018 when the average import price increased by X% against the previous year. The import price peaked at $X per unit in 2022, and then contracted slightly in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was South Korea ($X per unit), while the price for Malaysia ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform