Price for Electric Motors; of an Output Not Exceeding 37.5W in India - 2023
Contents:
- Price for Electric Motors; of an Output Not Exceeding 37.5W in India (CIF) - 2023
- Price for Electric Motors; of an Output Not Exceeding 37.5W in India (FOB) - 2023
- Imports of Electric Motors; of an Output Not Exceeding 37.5W in India
- Exports of Electric Motors; of an Output Not Exceeding 37.5W in India
Price for Electric Motors; of an Output Not Exceeding 37.5W in India (CIF) - 2023
The average import price for electric motors stood at $1.5 per unit in November 2023, surging by 24% against the previous month. Overall, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in June 2023 when the average import price increased by 33% against the previous month. As a result, import price reached the peak level of $1.8 per unit. From July 2023 to November 2023, the average import prices remained at a somewhat lower figure.
There were significant differences in the average prices amongst the major supplying countries. In November 2023, the country with the highest price was South Korea ($4.0 per unit), while the price for Hong Kong SAR ($676 per thousand units) was amongst the lowest.
From November 2022 to November 2023, the most notable rate of growth in terms of prices was attained by China (+1.2%), while the prices for the other major suppliers experienced a decline.
Price for Electric Motors; of an Output Not Exceeding 37.5W in India (FOB) - 2023
The average export price for electric motors stood at $6.9 per unit in November 2023, falling by -14.9% against the previous month. In general, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in October 2023 an increase of 18% m-o-m. As a result, the export price attained the peak level of $8.1 per unit, and then dropped in the following month.
There were significant differences in the average prices for the major foreign markets. In November 2023, the country with the highest price was the United States ($7.5 per unit), while the average price for exports to Mexico ($1.7 per unit) was amongst the lowest.
From November 2022 to November 2023, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (+1.9%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Electric Motors; of an Output Not Exceeding 37.5W in India
Imports of electric motors into India surged to 424M units in 2022, picking up by 31% on the previous year's figure. In general, imports saw a significant expansion. The growth pace was the most rapid in 2021 with an increase of 87%. Over the period under review, imports of hit record highs in 2022 and are likely to continue growth in the immediate term.
In value terms, imports of electric motors skyrocketed to $298M in 2022. Overall, total imports indicated a remarkable increase from 2019 to 2022: its value increased at an average annual rate of +6.2% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +69.5% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 44% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.
| Import of Electric Motors; of an Output Not Exceeding 37.5W in India (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 86.1 | 69.0 | 117 | 138 | 17.0% |
| South Korea | 28.6 | 24.6 | 26.6 | 30.3 | 1.9% |
| Japan | 20.1 | 11.0 | 16.1 | 18.0 | -3.6% |
| Hong Kong SAR | 17.5 | 11.6 | 11.2 | 16.8 | -1.4% |
| Thailand | 7.1 | 3.0 | 5.6 | 6.2 | -4.4% |
| Others | 89.7 | 56.7 | 78.0 | 88.7 | -0.4% |
| Total | 249 | 176 | 254 | 298 | 6.2% |
Top Suppliers of Electric Motors; of an Output Not Exceeding 37.5W to India in 2022:
- China (365.0M units)
- Hong Kong SAR (26.2M units)
- South Korea (8.6M units)
- Japan (8.0M units)
- Thailand (4.4M units)
Exports of Electric Motors; of an Output Not Exceeding 37.5W in India
In 2022, exports of electric motors from India declined to 21M units, dropping by -11% on 2021 figures. Over the period under review, exports continue to indicate a drastic downturn. The most prominent rate of growth was recorded in 2021 with an increase of 7.4% against the previous year. Over the period under review, the exports of attained the peak figure at 28M units in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.
In value terms, exports of electric motors dropped slightly to $150M in 2022. In general, exports saw a slight curtailment. The pace of growth was the most pronounced in 2021 when exports increased by 11% against the previous year. Over the period under review, the exports of reached the peak figure at $157M in 2019; however, from 2020 to 2022, the exports remained at a lower figure.
| Export of Electric Motors; of an Output Not Exceeding 37.5W in India (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 44.7 | 36.8 | 47.7 | 44.5 | -0.1% |
| Germany | 22.7 | 17.8 | 20.6 | 17.0 | -9.2% |
| China | 17.4 | 17.5 | 15.5 | 11.6 | -12.6% |
| Mexico | 17.6 | 12.6 | 7.0 | 6.9 | -26.8% |
| South Korea | 1.1 | 3.3 | 4.3 | 3.0 | 39.7% |
| Italy | 2.0 | 1.3 | 2.0 | 2.5 | 7.7% |
| Czech Republic | 0.1 | 0.2 | 0.4 | 1.6 | 152.0% |
| Brazil | 0.2 | 0.3 | 0.5 | 1.5 | 95.7% |
| Others | 51.2 | 50.7 | 58.2 | 61.2 | 6.1% |
| Total | 157 | 141 | 156 | 150 | -1.5% |
Top Export Markets for Electric Motors; of an Output Not Exceeding 37.5W from India in 2022:
- United States (6.5M units)
- Germany (4.0M units)
- China (3.3M units)
- Mexico (2.8M units)
- South Korea (1.0M units)
- Czech Republic (0.5M units)
- Italy (0.4M units)
- Brazil (0.3M units)
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