India: Steel Railway Material Market 2024

Steel Railway Material Market Size in India

The Indian steel railway material market fell to $X in 2022, with a decrease of X% against the previous year. Over the period under review, consumption recorded a pronounced shrinkage. The most prominent rate of growth was recorded in 2018 when the market value increased by X%. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Steel Railway Material Production in India

In value terms, steel railway material production reduced to $X in 2022 estimated in export price. Over the period under review, production saw a pronounced downturn. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Steel railway material production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

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Steel Railway Material Exports

Exports from India

In 2022, approx. X tons of railway or tramway track construction material of iron or steel were exported from India; with a decrease of X% against the previous year. Over the period under review, exports showed a abrupt decrease. The pace of growth was the most pronounced in 2016 when exports increased by X%. The exports peaked at X tons in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, steel railway material exports dropped to $X in 2022. In general, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of X%. Over the period under review, the exports hit record highs at $X in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X tons), Bangladesh (X tons) and Mozambique (X tons) were the main destinations of steel railway material exports from India, with a combined X% share of total exports. Nepal, the UK, Tanzania, Australia, Ghana, Brazil, Saudi Arabia and Sri Lanka lagged somewhat behind, together comprising a further X%.

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

In value terms, the United States ($X) remains the key foreign market for railway or tramway track construction material of iron or steel exports from India, comprising X% of total exports. The second position in the ranking was taken by Bangladesh ($X), with a X% share of total exports. It was followed by Mozambique, with a X% share.

From 2012 to 2022, the average annual growth rate of value to the United States stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bangladesh (X% per year) and Mozambique (X% per year).

Export Prices by Country

In 2022, the average steel railway material export price amounted to $X per ton, picking up by X% against the previous year. Over the period under review, the export price recorded a resilient increase. The most prominent rate of growth was recorded in 2018 when the average export price increased by X% against the previous year. The export price peaked at $X per ton in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Nepal ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Brazil (X%), while the prices for the other major destinations experienced more modest paces of growth.

Steel Railway Material Imports

Imports into India

Steel railway material imports into India shrank sharply to X tons in 2022, which is down by X% against the previous year's figure. Over the period under review, imports, however, showed a prominent expansion. The pace of growth was the most pronounced in 2015 when imports increased by X%. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, steel railway material imports declined dramatically to $X in 2022. Overall, imports, however, posted a strong expansion. The most prominent rate of growth was recorded in 2018 with an increase of X%. Over the period under review, imports reached the peak figure at $X in 2021, and then contracted sharply in the following year.

Imports by Country

Japan (X tons), Spain (X tons) and China (X tons) were the main suppliers of steel railway material imports to India, together comprising X% of total imports. Belgium, Slovenia, Romania, Austria and France lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Romania (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest steel railway material suppliers to India were Japan ($X), Spain ($X) and China ($X), with a combined X% share of total imports. Belgium, Slovenia, Romania, Austria and France lagged somewhat behind, together comprising a further X%.

In terms of the main suppliers, Romania, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average steel railway material import price stood at $X per ton in 2022, rising by X% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. Over the period under review, average import prices reached the peak figure at $X per ton in 2012; afterwards, it flattened through to 2022.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Slovenia ($X per ton), while the price for Spain ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Slovenia (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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