India: Railway Maintenance Vehicle Market 2024

Railway Maintenance Vehicle Market Size in India

The Indian railway maintenance vehicle market shrank to $X in 2022, which is down by X% against the previous year. In general, consumption, however, saw a prominent increase. Railway maintenance vehicle consumption peaked at $X in 2021, and then declined in the following year.

Railway Maintenance Vehicle Production in India

In value terms, railway maintenance vehicle production fell modestly to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a strong increase. The most prominent rate of growth was recorded in 2013 when the production volume increased by X%. Over the period under review, production reached the peak level at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Railway Maintenance Vehicle Exports

Exports from India

In 2022, approx. X units of railway or tramway maintenance or service vehicles were exported from India; with a decrease of X% against 2021 figures. In general, exports, however, showed pronounced growth. The pace of growth was the most pronounced in 2021 with an increase of X%. As a result, the exports attained the peak of X units, and then shrank in the following year.

In value terms, railway maintenance vehicle exports declined significantly to $X in 2022. Overall, exports showed a noticeable slump. The most prominent rate of growth was recorded in 2016 when exports increased by X%. Over the period under review, the exports attained the maximum at $X in 2021, and then reduced markedly in the following year.

Exports by Country

The United States (X units) was the main destination for railway maintenance vehicle exports from India, accounting for a X% share of total exports. Moreover, railway maintenance vehicle exports to the United States exceeded the volume sent to the second major destination, Argentina (X units), tenfold. The third position in this ranking was held by Bhutan (X units), with a X% share.

From 2013 to 2022, the average annual rate of growth in terms of volume to the United States was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Argentina (X% per year) and Bhutan (X% per year).

In value terms, the United States ($X) emerged as the key foreign market for railway or tramway maintenance or service vehicles exports from India, comprising X% of total exports. The second position in the ranking was held by Sri Lanka ($X), with an X% share of total exports. It was followed by Ghana, with a X% share.

From 2013 to 2022, the average annual rate of growth in terms of value to the United States was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Sri Lanka (X% per year) and Ghana (X% per year).

Export Prices by Country

In 2022, the average railway maintenance vehicle export price amounted to $X per unit, with a decrease of X% against the previous year. Overall, the export price recorded a drastic downturn. The most prominent rate of growth was recorded in 2016 when the average export price increased by X% against the previous year. Over the period under review, the average export prices attained the maximum at $X per unit in 2021, and then dropped remarkably in the following year.

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 States ($X per unit), while the average price for exports to Bhutan ($X per unit) was amongst the lowest.

From 2013 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Sri Lanka (X%), while the prices for the other major destinations experienced mixed trend patterns.

Railway Maintenance Vehicle Imports

Imports into India

In 2022, after three years of growth, there was significant decline in overseas purchases of railway or tramway maintenance or service vehicles, when their volume decreased by X% to X units. Over the period under review, imports, however, showed a prominent increase. The growth pace was the most rapid in 2017 when imports increased by X% against the previous year. Imports peaked at X units in 2021, and then dropped notably in the following year.

In value terms, railway maintenance vehicle imports contracted dramatically to $X in 2022. In general, imports, however, saw strong growth. The most prominent rate of growth was recorded in 2014 when imports increased by X%. Imports peaked at $X in 2021, and then declined sharply in the following year.

Imports by Country

The United States (X units), Germany (X units) and China (X units) were the main suppliers of railway maintenance vehicle imports to India, with a combined X% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Germany (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Germany ($X) and China ($X) appeared to be the largest railway maintenance vehicle suppliers to India, together accounting for X% of total imports.

Germany, with a CAGR of X%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average railway maintenance vehicle import price amounted to $X per unit, therefore, remained relatively stable against the previous year. In general, the import price recorded a perceptible decline. The pace of growth was the most pronounced in 2018 when the average import price increased by X% against the previous year. The import price peaked at $X per unit in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were the United States ($X per unit) and Germany ($X per unit), while the price for Italy ($X per unit) and China ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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