India: Spark Plug Market 2024

Spark Plug Market Size in India

The Indian spark plug market declined modestly to $X in 2022, remaining constant against the previous year. Overall, consumption, however, recorded a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market remained at a lower figure.

Spark Plug Production in India

In value terms, spark plug production declined to $X in 2022 estimated in export price. Over the period under review, production recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the production volume increased by X%. As a result, production reached the peak level of $X. From 2019 to 2022, production growth remained at a somewhat lower figure.

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Spark Plug Exports

Exports from India

In 2022, overseas shipments of sparking plugs increased by X% to X units, rising for the second consecutive year after two years of decline. Over the period under review, exports posted buoyant growth. The pace of growth appeared the most rapid in 2018 with an increase of X%. As a result, the exports reached the peak of X units. From 2019 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, spark plug exports surged to $X in 2022. In general, exports continue to indicate a strong increase. The growth pace was the most rapid in 2018 when exports increased by X% against the previous year. As a result, the exports reached the peak of $X. From 2019 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Germany (X units) was the main destination for spark plug exports from India, accounting for a X% share of total exports. Moreover, spark plug exports to Germany exceeded the volume sent to the second major destination, Bangladesh (X units), twofold. Indonesia (X units) ranked third in terms of total exports with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Germany stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bangladesh (X% per year) and Indonesia (X% per year).

In value terms, Germany ($X) emerged as the key foreign market for sparking plugs exports from India, comprising X% of total exports. The second position in the ranking was held by Bangladesh ($X), with an X% share of total exports. It was followed by South Korea, with a X% share.

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

Export Prices by Country

The average spark plug export price stood at $X per unit in 2022, growing by X% against the previous year. Overall, export price indicated moderate growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2018 an increase of X%. Over the period under review, the average export prices reached the maximum at $X per unit in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was South Korea ($X per unit), while the average price for exports to Belgium ($X per unit) was amongst the lowest.

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

Spark Plug Imports

Imports into India

In 2022, overseas purchases of sparking plugs increased by X% to X units, rising for the second consecutive year after two years of decline. Over the period under review, imports enjoyed a significant increase. The most prominent rate of growth was recorded in 2013 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are likely to continue growth in the immediate term.

In value terms, spark plug imports soared to $X in 2022. In general, imports enjoyed buoyant growth. The pace of growth appeared the most rapid in 2021 when imports increased by X%. Imports peaked in 2022 and are likely to see steady growth in the immediate term.

Imports by Country

In 2022, Japan (X units) constituted the largest spark plug supplier to India, accounting for a X% share of total imports. Moreover, spark plug imports from Japan exceeded the figures recorded by the second-largest supplier, Thailand (X units), fivefold. The third position in this ranking was taken by South Korea (X units), with a X% share.

From 2012 to 2022, the average annual growth rate of volume from Japan totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (X% per year) and South Korea (X% per year).

In value terms, Japan ($X), Thailand ($X) and China ($X) were the largest spark plug suppliers to India, together accounting for X% of total imports.

Thailand, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, among 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 spark plug import price amounted to $X per unit, waning by X% against the previous year. In general, the import price saw a deep downturn. The pace of growth was the most pronounced in 2021 when the average import price increased by X%. Over the period under review, average import prices attained the maximum at $X per unit in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per unit), while the price for Japan ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Czech Republic (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform