India: Optical Radiation Instruments Market 2024

Optical Radiation Instruments Market Size in India

The Indian optical radiation instruments market was estimated at $X in 2023, stabilizing at the previous year. Overall, consumption enjoyed buoyant growth. Optical radiation instruments consumption peaked in 2023 and is expected to retain growth in the immediate term.

Optical Radiation Instruments Production in India

In value terms, optical radiation instruments production reduced modestly to $X in 2023 estimated in export price. Overall, production, however, enjoyed a strong expansion. The most prominent rate of growth was recorded in 2018 when the production volume increased by X%. Optical radiation instruments production peaked at $X in 2019; however, from 2020 to 2023, production stood at a somewhat lower figure.

Optical Radiation Instruments Exports

Exports from India

In 2023, overseas shipments of instruments using optical radiations increased by X% to X units, rising for the second year in a row after two years of decline. Over the period under review, exports posted a resilient expansion. The most prominent rate of growth was recorded in 2018 with an increase of X%. Over the period under review, the exports hit record highs at X units in 2019; however, from 2020 to 2023, the exports failed to regain momentum.

In value terms, optical radiation instruments exports surged to $X in 2023. In general, exports saw a prominent expansion. The growth pace was the most rapid in 2017 when exports increased by X% against the previous year. The exports peaked in 2023 and are expected to retain growth in years to come.

Exports by Country

The United States (X units) was the main destination for optical radiation instruments exports from India, with a X% share of total exports. Moreover, optical radiation instruments exports to the United States exceeded the volume sent to the second major destination, Nepal (X units), fivefold. The United Arab Emirates (X units) ranked third in terms of total exports with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume to the United States stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Nepal (X% per year) and the United Arab Emirates (X% per year).

In value terms, the United States ($X) remains the key foreign market for instruments using optical radiations exports from India, comprising X% of total exports. The second position in the ranking was taken by Russia ($X), with a X% share of total exports. It was followed by the United Arab Emirates, with a X% share.

From 2012 to 2023, the average annual growth rate of value to the United States totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Russia (X% per year) and the United Arab Emirates (X% per year).

Export Prices by Country

In 2023, the average optical radiation instruments export price amounted to $X per unit, picking up by X% against the previous year. Overall, export price indicated a prominent expansion from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2013 when the average export price increased by X%. Over the period under review, the average export prices attained the peak figure at $X per unit in 2016; however, from 2017 to 2023, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2023, amid the top suppliers, the country with the highest price was Australia ($X per unit), while the average price for exports to Nepal ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Australia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Optical Radiation Instruments Imports

Imports into India

Optical radiation instruments imports into India expanded notably to X units in 2023, increasing by X% against the year before. Over the period under review, imports continue to indicate a significant increase. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. Over the period under review, imports hit record highs in 2023 and are expected to retain growth in the near future.

In value terms, optical radiation instruments imports skyrocketed to $X in 2023. Overall, imports saw a buoyant increase. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. Imports peaked in 2023 and are expected to retain growth in the immediate term.

Imports by Country

In 2023, China (X units) constituted the largest optical radiation instruments supplier to India, accounting for a X% share of total imports. Moreover, optical radiation instruments imports from China exceeded the figures recorded by the second-largest supplier, the UK (X units), twofold. The United States (X units) ranked third in terms of total imports with a X% share.

From 2012 to 2023, the average annual growth rate of volume from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (X% per year) and the United States (X% per year).

In value terms, the United States ($X), Singapore ($X) and China ($X) were the largest optical radiation instruments suppliers to India, together comprising X% of total imports. The UK, Germany, Japan, Hong Kong SAR and South Korea lagged somewhat behind, together accounting for a further X%.

In terms of the main suppliers, Hong Kong SAR, with a CAGR of X%, saw the highest growth rate of 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 optical radiation instruments import price stood at $X per unit in 2023, growing by X% against the previous year. Overall, the import price, however, continues to indicate a abrupt downturn. The most prominent rate of growth was recorded in 2013 when the average import price increased by X%. As a result, import price reached the peak level of $X per unit. From 2014 to 2023, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Singapore ($X per unit), while the price for the UK ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Singapore (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform