India: Underground Continuous-Action Elevator Market 2024

Underground Continuous-Action Elevator Market Size in India

The Indian underground continuous-action elevator market shrank slightly to $X.4B in 2022, leveling off at the previous year. In general, the total consumption indicated a noticeable increase from 2012 to 2022: its value 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. Based on 2022 figures, consumption decreased by X% against 2019 indices. Underground continuous-action elevator consumption peaked at $X.9B in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Underground Continuous-Action Elevator Production in India

In value terms, underground continuous-action elevator production reduced slightly to $X.4B in 2022 estimated in export price. In general, the total production indicated a notable expansion from 2012 to 2022: its value 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. Based on 2022 figures, production decreased by X% against 2019 indices. The pace of growth was the most pronounced in 2018 when the production volume increased by X%. Over the period under review, production reached the maximum level at $X.9B in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Underground Continuous-Action Elevator Exports

Exports from India

In 2022, approx. X units of underground continuous-action elevators and conveyors were exported from India; jumping by X% against the year before. Over the period under review, exports enjoyed significant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, underground continuous-action elevator exports soared to $X in 2022. Overall, exports recorded a modest expansion. The most prominent rate of growth was recorded in 2016 when exports increased by X%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the near future.

Exports by Country

Qatar (X units) was the main destination for underground continuous-action elevator exports from India, with a X% share of total exports. Moreover, underground continuous-action elevator exports to Qatar exceeded the volume sent to the second major destination, Morocco (X units), fivefold. The third position in this ranking was held by Nepal (X units), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Qatar totaled X.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Morocco (X% per year) and Nepal (X% per year).

In value terms, Nepal ($X), Morocco ($X) and Qatar ($X) appeared to be the largest markets for underground continuous-action elevator exported from India worldwide, with a combined X% share of total exports. Kuwait lagged somewhat behind, comprising a further X%.

Kuwait, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, in terms of 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 2022, the average underground continuous-action elevator export price amounted to $X per unit, with a decrease of X% against the previous year. Overall, the export price saw a abrupt shrinkage. The most prominent rate of growth was recorded in 2016 an increase of X% against the previous year. The export price peaked at $X per unit in 2013; however, from 2014 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 Nepal ($X per unit), while the average price for exports to Qatar ($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 Nepal (X%), while the prices for the other major destinations experienced a decline.

Underground Continuous-Action Elevator Imports

Imports into India

In 2022, overseas purchases of underground continuous-action elevators and conveyors were finally on the rise to reach X units after three years of decline. Over the period under review, imports, however, recorded a dramatic setback. The pace of growth was the most pronounced in 2018 when imports increased by X% against the previous year. As a result, imports attained the peak of X units. From 2019 to 2022, the growth of imports remained at a lower figure.

In value terms, underground continuous-action elevator imports skyrocketed to $X in 2022. Overall, imports, however, saw a abrupt decrease. The most prominent rate of growth was recorded in 2015 with an increase of X%. Over the period under review, imports attained the maximum at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Finland (X units) constituted the largest underground continuous-action elevator supplier to India, accounting for a X% share of total imports. Moreover, underground continuous-action elevator imports from Finland exceeded the figures recorded by the second-largest supplier, Japan (X units), fivefold.

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

In value terms, Finland ($X) constituted the largest supplier of underground continuous-action elevators and conveyors to India, comprising X% of total imports. The second position in the ranking was taken by Japan ($X), with a X% share of total imports.

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

Import Prices by Country

The average underground continuous-action elevator import price stood at $X per unit in 2022, with an increase of X% against the previous year. Overall, the import price saw a tangible expansion. The growth pace was the most rapid in 2014 when the average import price increased by X% against the previous year. The import price peaked at $X per unit in 2020; however, from 2021 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 Finland ($X per unit), while the price for South Korea ($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 United States (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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