India: Market for Grinding And Sharpening Metal Finishing Machines 2024

Market Size for Grinding And Sharpening Metal Finishing Machines in India

In 2022, the Indian grinding and sharpening machine market decreased by X% to $X for the first time since 2016, thus ending a five-year rising trend. Overall, consumption, however, saw a strong expansion. Over the period under review, the market attained the peak level at $X in 2021, and then declined markedly in the following year.

Production of Grinding And Sharpening Metal Finishing Machines in India

In value terms, grinding and sharpening machine production dropped slightly to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a perceptible curtailment. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Exports of Grinding And Sharpening Metal Finishing Machines

Exports from India

In 2022, grinding and sharpening machine exports from India surged to X units, increasing by X% on the previous year's figure. Overall, exports continue to indicate a remarkable increase. The most prominent rate of growth was recorded in 2019 when exports increased by X% against the previous year. The exports peaked at X units in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, grinding and sharpening machine exports reduced modestly to $X in 2022. Over the period under review, exports saw a strong increase. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. Over the period under review, the exports reached the maximum at $X in 2021, and then declined in the following year.

Exports by Country

The United States (X units) was the main destination for grinding and sharpening machine exports from India, with a X% share of total exports. Moreover, grinding and sharpening machine exports to the United States exceeded the volume sent to the second major destination, Bangladesh (X units), threefold. The third position in this ranking was held by Australia (X units), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bangladesh (X% per year) and Australia (X% per year).

In value terms, the United States ($X) remains the key foreign market for grinding and sharpening metal finishing machines exports from India, comprising X% of total exports. The second position in the ranking was held by Australia ($X), with a X% share of total exports. It was followed by Bangladesh, with a X% share.

From 2012 to 2022, the average annual growth rate of value to the United States stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (X% per year) and Bangladesh (X% per year).

Export Prices by Country

The average grinding and sharpening machine export price stood at $X per unit in 2022, with a decrease of X% against the previous year. Over the period under review, the export price recorded a slight slump. The pace of growth was the most pronounced in 2021 an increase of X% against the previous year. The export price peaked at $X per unit in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per unit), while the average price for exports to Zimbabwe ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Slovenia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Grinding And Sharpening Metal Finishing Machines

Imports into India

After five years of growth, purchases abroad of grinding and sharpening metal finishing machines decreased by X% to X units in 2022. In general, imports, however, saw prominent growth. The pace of growth appeared the most rapid in 2017 with an increase of X% against the previous year. Imports peaked at X units in 2021, and then shrank significantly in the following year.

In value terms, grinding and sharpening machine imports expanded significantly to $X in 2022. Overall, imports continue to indicate a perceptible descent. The growth pace was the most rapid in 2016 when imports increased by X%. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

China (X units), Taiwan (Chinese) (X units) and Italy (X units) were the main suppliers of grinding and sharpening machine imports to India, together comprising X% of total imports. The United States, Thailand, Germany, Belgium, Japan, the Netherlands, the UK, Spain and France lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Spain (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) constituted the largest supplier of grinding and sharpening metal finishing machines to India, comprising X% of total imports. The second position in the ranking was taken by the United States ($X), with a X% share of total imports. It was followed by Germany, with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Japan amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and Germany (X% per year).

Import Prices by Country

The average grinding and sharpening machine import price stood at $X per unit in 2022, rising by X% against the previous year. Over the period under review, the import price, however, showed a abrupt decline. Over the period under review, average import prices attained the peak figure at $X per unit in 2016; however, from 2017 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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