India: Market for Machine Tools For Working Metal Without Removing Metal 2023

Market Size for Machine Tools For Working Metal Without Removing Metal in India

In 2021, the Indian machine tool for metal market decreased by -3.3% to $X, falling for the third year in a row after three years of growth. In general, the total consumption indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +8.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -18.0% against 2018 indices. Machine tool for metal consumption peaked at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Production of Machine Tools For Working Metal Without Removing Metal in India

In value terms, machine tool for metal production totaled $X in 2021 estimated in export price. Over the period under review, production, however, recorded slight growth. The pace of growth appeared the most rapid in 2016 with an increase of 2.7% against the previous year. Machine tool for metal production peaked at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Exports of Machine Tools For Working Metal Without Removing Metal

Exports from India

In 2021, shipments abroad of machine tools for working metal without removing metal increased by 48% to X units, rising for the third year in a row after three years of decline. Overall, exports, however, saw a slight contraction. The pace of growth was the most pronounced in 2019 with an increase of 120%. Over the period under review, the exports reached the peak figure at X units in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, machine tool for metal exports skyrocketed to $X in 2021. Over the period under review, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of 47% against the previous year. The exports peaked at $X in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X units) was the main destination for machine tool for metal exports from India, accounting for a 83% share of total exports. Moreover, machine tool for metal exports to the United States exceeded the volume sent to the second major destination, Nepal (X units), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States amounted to +35.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Nepal (+40.7% per year) and the United Arab Emirates (+25.1% per year).

In value terms, the United States ($X) remains the key foreign market for machine tools for working metal without removing metal exports from India, comprising 36% of total exports. The second position in the ranking was taken by Nepal ($X), with a 10% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States stood at +10.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Nepal (+22.6% per year) and the United Arab Emirates (+22.3% per year).

Export Prices by Country

In 2021, the average machine tool for metal export price amounted to $X per unit, shrinking by -10.5% against the previous year. Overall, the export price, however, enjoyed slight growth. The pace of growth appeared the most rapid in 2013 an increase of 167%. The export price peaked at $X per unit in 2017; however, from 2018 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was the United Arab Emirates ($X per unit), while the average price for exports to the United States ($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 Arab Emirates (-2.2%), while the prices for the other major destinations experienced a decline.

Imports of Machine Tools For Working Metal Without Removing Metal

Imports into India

Machine tool for metal imports into India skyrocketed to X units in 2021, with an increase of 46% on 2020 figures. In general, imports continue to indicate a significant increase. The pace of growth was the most pronounced in 2017 when imports increased by 77% against the previous year. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the near future.

In value terms, machine tool for metal imports surged to $X in 2021. Overall, imports, however, saw a perceptible downturn. The most prominent rate of growth was recorded in 2017 with an increase of 36%. Imports peaked at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X units) constituted the largest machine tool for metal supplier to India, accounting for a 87% share of total imports. Moreover, machine tool for metal imports from China exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X units), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +30.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+17.9% per year) and Japan (-0.8% per year).

In value terms, China ($X) constituted the largest supplier of machine tools for working metal without removing metal to India, comprising 50% of total imports. The second position in the ranking was taken by Japan ($X), with an 11% share of total imports.

From 2012 to 2021, the average annual growth rate of value from China totaled +11.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-9.6% per year) and Taiwan (Chinese) (-6.2% per year).

Import Prices by Country

The average machine tool for metal import price stood at $X per unit in 2021, which is down by -21.1% against the previous year. Overall, the import price saw a significant contraction. The growth pace was the most rapid in 2013 an increase of 24% against the previous year. As a result, import price reached the peak level of $X per unit. From 2014 to 2021, the average import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (-8.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Market Intelligence Platform

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