India: Working Wire Machine Market 2022

Working Wire Machine Market Size in India

The Indian working wire machine market fell significantly to $X in 2021, reducing by -22.8% against the previous year. Over the period under review, consumption saw a perceptible setback. Working wire machine consumption peaked at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Working Wire Machine Production in India

In value terms, working wire machine production reduced to $X in 2021 estimated in export price. Overall, production recorded a perceptible decline. The pace of growth appeared the most rapid in 2020 with an increase of 21% against the previous year. Working wire machine production peaked at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Working Wire Machine Exports

Exports from India

Working wire machine exports from India soared to X units in 2021, rising by 115% against 2020. Over the period under review, exports recorded a prominent increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, working wire machine exports surged to $X in 2021. In general, exports posted a remarkable increase. The pace of growth appeared the most rapid in 2017 when exports increased by 89%. Over the period under review, the exports attained the peak figure at $X in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

Exports by Country

Nepal (X units) was the main destination for working wire machine exports from India, with a 44% share of total exports. Moreover, working wire machine exports to Nepal exceeded the volume sent to the second major destination, Oman (X units), fourfold. The third position in this ranking was taken by Saudi Arabia (X units), with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Nepal amounted to +36.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Oman (+113.0% per year) and Saudi Arabia (+3.1% per year).

In value terms, the largest markets for working wire machine exported from India were Nepal ($X), Canada ($X) and Italy ($X), with a combined 38% share of total exports. Cote d'Ivoire, Saudi Arabia, Tanzania and Oman lagged somewhat behind, together accounting for a further 12%.

Among the main countries of destination, Cote d'Ivoire, with a CAGR of +360.3%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average working wire machine export price stood at $X per unit in 2021, reducing by -18.7% against the previous year. Over the period under review, the export price recorded a abrupt contraction. The growth pace was the most rapid in 2016 an increase of 29% against the previous year. The export price peaked at $X per unit in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Italy ($X per unit), while the average price for exports to Oman ($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 Tanzania (+7.1%), while the prices for the other major destinations experienced mixed trend patterns.

Working Wire Machine Imports

Imports into India

In 2021, imports of machines for working wire into India surged to X units, picking up by 90% on 2020 figures. In general, imports continue to indicate a significant increase. The pace of growth appeared the most rapid in 2018 with an increase of 246% against the previous year. Over the period under review, imports attained the peak figure in 2021 and are expected to retain growth in the immediate term.

In value terms, working wire machine imports soared to $X in 2021. Overall, imports recorded a buoyant expansion. The most prominent rate of growth was recorded in 2018 when imports increased by 123%. As a result, imports attained the peak of $X. From 2019 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, China (X units) constituted the largest working wire machine supplier to India, with a 83% share of total imports. Moreover, working wire machine imports from China exceeded the figures recorded by the second-largest supplier, Italy (X units), more than tenfold. The third position in this ranking was held by Taiwan (Chinese) (X units), with a 4.5% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at +41.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+7.6% per year) and Taiwan (Chinese) (+4.2% per year).

In value terms, China ($X) constituted the largest supplier of working wire machine to India, comprising 51% of total imports. The second position in the ranking was taken by Italy ($X), with a 13% share of total imports. It was followed by Taiwan (Chinese), with a 9.3% share.

From 2012 to 2021, the average annual growth rate of value from China amounted to +29.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+5.0% per year) and Taiwan (Chinese) (-3.9% per year).

Import Prices by Country

In 2021, the average working wire machine import price amounted to $X per unit, increasing by 4.4% against the previous year. In general, the import price, however, continues to indicate a abrupt slump. The pace of growth was the most pronounced in 2013 an increase of 55% 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 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 Taiwan (Chinese) ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (-2.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Market Intelligence Platform

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