Southern Asia: Machinery Electrical Parts Market 2024

Machinery Electrical Parts Market Size in Southern Asia

The South Asian machinery electrical parts market fell modestly to $X in 2023, shrinking by X% against the previous year. The total consumption indicated strong growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption increased by X% against 2021 indices. The level of consumption peaked at $X in 2019; however, from 2020 to 2023, consumption stood at a somewhat lower figure.

Machinery Electrical Parts Production in Southern Asia

In value terms, machinery electrical parts production shrank to $X in 2023 estimated in export price. In general, production, however, enjoyed a prominent expansion. The pace of growth was the most pronounced in 2015 when the production volume increased by X%. The level of production peaked at $X in 2018; however, from 2019 to 2023, production remained at a lower figure.

Machinery Electrical Parts Exports

Exports in Southern Asia

In 2023, overseas shipments of electrical parts of machinery or apparatus increased by X% to X tons, rising for the third year in a row after three years of decline. Overall, exports recorded a temperate increase. The pace of growth was the most pronounced in 2021 with an increase of X%. Over the period under review, the exports reached the peak figure at X tons in 2013; however, from 2014 to 2023, the exports failed to regain momentum.

In value terms, machinery electrical parts exports soared to $X in 2023. In general, exports, however, saw a pronounced decline. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, the exports reached the maximum at $X in 2015; however, from 2016 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

Bangladesh (X tons) and Sri Lanka (X tons) prevails in exports structure, together achieving X% of total exports. It was distantly followed by India (X tons), generating a X% share of total exports.

From 2012 to 2023, the biggest increases were recorded for Sri Lanka (with a CAGR of X%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, the largest machinery electrical parts supplying countries in Southern Asia were Sri Lanka ($X), India ($X) and Bangladesh ($X), together comprising X% of total exports.

Sri Lanka, with a CAGR of X%, recorded the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in Southern Asia stood at $X per ton in 2023, surging by X% against the previous year. Overall, the export price, however, saw a pronounced descent. The most prominent rate of growth was recorded in 2015 an increase of X% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2019; however, from 2020 to 2023, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was India ($X per ton), while Bangladesh ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by India (X%), while the other leaders experienced a decline in the export price figures.

Machinery Electrical Parts Imports

Imports in Southern Asia

Machinery electrical parts imports skyrocketed to X tons in 2023, increasing by X% against 2022 figures. Overall, imports, however, recorded a deep contraction. The pace of growth appeared the most rapid in 2019 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2012; however, from 2013 to 2023, imports remained at a lower figure.

In value terms, machinery electrical parts imports surged to $X in 2023. In general, imports, however, recorded a deep setback. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. The level of import peaked at $X in 2012; however, from 2013 to 2023, imports stood at a somewhat lower figure.

Imports by Country

India dominates imports structure, recording X tons, which was approx. X% of total imports in 2023. Afghanistan (X tons) took the second position in the ranking, followed by Bangladesh (X tons). All these countries together held approx. X% share of total imports. Sri Lanka (X tons) followed a long way behind the leaders.

From 2012 to 2023, average annual rates of growth with regard to machinery electrical parts imports into India stood at X%. Sri Lanka experienced a relatively flat trend pattern. Afghanistan (X%) and Bangladesh (X%) illustrated a downward trend over the same period. While the share of India (X p.p.) increased significantly in terms of the total imports from 2012-2023, the share of Afghanistan (X p.p.) and Bangladesh (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported electrical parts of machinery or apparatus in Southern Asia, comprising X% of total imports. The second position in the ranking was taken by Bangladesh ($X), with a X% share of total imports. It was followed by Sri Lanka, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value in India amounted to X%. In the other countries, the average annual rates were as follows: Bangladesh (X% per year) and Sri Lanka (X% per year).

Import Prices by Country

The import price in Southern Asia stood at $X per ton in 2023, falling by X% against the previous year. Overall, the import price saw a abrupt slump. The pace of growth appeared the most rapid in 2018 an increase of X% against the previous year. As a result, import price attained the peak level of $X per ton. From 2019 to 2023, the import prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Sri Lanka ($X per ton), while India ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Bangladesh (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform