India: Boiler Parts Market 2022

Boiler Parts Market Size in India

In 2021, after two years of growth, there was decline in the Indian boiler parts market, when its value decreased by -X% to $X. The market value increased at an average annual rate of +X% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Boiler parts consumption peaked at $X in 2020, and then contracted modestly in the following year.

Boiler Parts Production in India

In value terms, boiler parts production dropped to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +X% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2017 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X in 2020, and then declined modestly in the following year.

Boiler Parts Exports

Exports from India

In 2021, shipments abroad of parts of boilers for central heating increased by X% to X tons for the first time since 2018, thus ending a two-year declining trend. Overall, exports, however, recorded a deep contraction. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, boiler parts exports surged to $X in 2021. In general, exports, however, faced a dramatic slump. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Senegal (X tons) was the main destination for boiler parts exports from India, with a X% share of total exports. Moreover, boiler parts exports to Senegal exceeded the volume sent to the second major destination, Sri Lanka (X tons), twofold. Uganda (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2021, the average annual growth rate of volume to Senegal stood at +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sri Lanka (+X% per year) and Uganda (+X% per year).

In value terms, the largest markets for boiler parts exported from India were Uganda ($X), Malaysia ($X) and Senegal ($X), together accounting for X% of total exports. Sri Lanka, the UK, Thailand and Nepal lagged somewhat behind, together accounting for a further X terms of the main countries of destination, the UK, with a CAGR of +X%, 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

In 2021, the average boiler parts export price amounted to $X per ton, which is down by -X% against the previous year. In general, the export price recorded a perceptible decrease. The most prominent rate of growth was recorded in 2019 an increase of X%. Over the period under review, the average export prices hit record highs at $X per ton 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 Malaysia ($X per ton), while the average price for exports to Senegal ($X per ton) was amongst the lowest.

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

Boiler Parts Imports

Imports into India

In 2021, supplies from abroad of parts of boilers for central heating decreased by -X% to X tons, falling for the fifth consecutive year after two years of growth. Over the period under review, imports faced a dramatic decrease. The growth pace was the most rapid in 2015 with an increase of X% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2016; however, from 2017 to 2021, imports stood at a somewhat lower figure.

In value terms, boiler parts imports reduced rapidly to $X in 2021. In general, imports showed a dramatic contraction. The growth pace was the most rapid in 2015 when imports increased by X%. Over the period under review, imports reached the peak figure at $X in 2016; however, from 2017 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Italy (X tons) constituted the largest supplier of boiler parts to India, accounting for a X% share of total imports. Moreover, boiler parts imports from Italy exceeded the figures recorded by the second-largest supplier, the United States (X tons), twofold. Germany (X kg) ranked third in terms of total imports with a X% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Italy stood at -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).

In value terms, Italy ($X) constituted the largest supplier of boiler parts to India, comprising X% of total imports. The second position in the ranking was taken by the United States ($X), with a X% share of total imports. It was followed by Germany, with a X% share.

From 2012 to 2021, the average annual growth rate of value from Italy 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

In 2021, the average boiler parts import price amounted to $X per ton, with an increase of X% against the previous year. Over the period under review, the import price showed a moderate increase. The pace of growth appeared the most rapid in 2014 an increase of X%. As a result, import price attained the peak level of $X per ton. From 2015 to 2021, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was South Korea ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

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

Source: IndexBox Market Intelligence Platform

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