India: Wood Milling Machine Market 2022

Wood Milling Machine Market Size in India

In 2021, the Indian wood milling machine market decreased by -8.9% to $X, falling for the second consecutive year after four years of growth. In general, consumption, however, enjoyed a resilient expansion. Over the period under review, the market reached the peak level at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Wood Milling Machine Exports

Exports from India

After two years of decline, shipments abroad of planing, milling or moulding machines increased by 90% to X units in 2021. In general, exports showed a slight increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, wood milling machine exports surged to $X in 2021. Over the period under review, exports recorded a mild increase. The most prominent rate of growth was recorded in 2017 when exports increased by 91% against the previous year. The exports peaked in 2021 and are likely to continue growth in the immediate term.

Exports by Country

Nepal (X units) was the main destination for wood milling machine exports from India, accounting for a 73% share of total exports. Moreover, wood milling machine exports to Nepal exceeded the volume sent to the second major destination, Bhutan (X units), fourfold. The third position in this ranking was taken by Sri Lanka (X units), with a 3.9% share.

From 2012 to 2021, the average annual growth rate of volume to Nepal amounted to +55.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bhutan (+122.5% per year) and Sri Lanka (+57.6% per year).

In value terms, the largest markets for wood milling machine exported from India were Nepal ($X), Sri Lanka ($X) and Bhutan ($X), with a combined 76% share of total exports.

Sri Lanka, with a CAGR of +90.8%, 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 2021, the average wood milling machine export price amounted to $X per unit, waning by -23.2% against the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 an increase of 103%. Over the period under review, the average export prices reached the peak figure at $X per unit in 2017; however, from 2018 to 2021, the export prices failed to regain momentum.

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 ($X per unit), while the average price for exports to Nepal ($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 (+50.0%), while the prices for the other major destinations experienced more modest paces of growth.

Wood Milling Machine Imports

Imports into India

In 2021, wood milling machine imports into India contracted to X units, declining by -14.4% compared with 2020 figures. Over the period under review, imports, however, posted a remarkable increase. The growth pace was the most rapid in 2016 with an increase of 111%. Over the period under review, imports hit record highs at X units in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, wood milling machine imports soared to $X in 2021. In general, imports, however, recorded a resilient expansion. The growth pace was the most rapid in 2016 when imports increased by 48% against the previous year. Over the period under review, imports attained the peak figure at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

China (X units), Taiwan (Chinese) (X units) and France (X units) were the main suppliers of wood milling machine imports to India, together comprising 88% of total imports.

From 2012 to 2021, the biggest increases were in France (with a CAGR of +21.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of wood milling machine to India, comprising 51% of total imports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a 6% share of total imports. It was followed by the United Arab Emirates, with a 4.3% share.

From 2012 to 2021, the average annual growth rate of value from China amounted to +14.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (-0.9% per year) and the United Arab Emirates (-9.3% per year).

Import Prices by Country

In 2021, the average wood milling machine import price amounted to $X per unit, growing by 41% against the previous year. In general, the import price, however, continues to indicate a pronounced contraction. The pace of growth appeared the most rapid in 2018 when the average import price increased by 51% against the previous year. The import price peaked at $X per unit in 2012; however, from 2013 to 2021, 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 China ($X per unit), while the price for France ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+4.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Market Intelligence Platform

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