India: Non-Electric Industrial Furnace Market 2024

Non-Electric Industrial Furnace Market Size in India

The Indian non-electric industrial furnace market surged to $X in 2023, growing by X% against the previous year. In general, consumption, however, showed a slight downturn. As a result, consumption reached the peak level of $X. From 2016 to 2023, the growth of the market remained at a lower figure.

Non-Electric Industrial Furnace Production in India

In value terms, non-electric industrial furnace production expanded significantly to $X in 2023 estimated in export price. Overall, production, however, recorded a pronounced shrinkage. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, production reached the peak level at $X in 2013; however, from 2014 to 2023, production failed to regain momentum.

Non-Electric Industrial Furnace Exports

Exports from India

In 2023, approx. X units of non-electric industrial or laboratory furnaces and ovens were exported from India; waning by X% against the year before. Overall, exports, however, enjoyed a measured increase. The most prominent rate of growth was recorded in 2013 when exports increased by X%. The exports peaked at X units in 2014; however, from 2015 to 2023, the exports remained at a lower figure.

In value terms, non-electric industrial furnace exports declined significantly to $X in 2023. Over the period under review, exports recorded a drastic downturn. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2023, the exports remained at a lower figure.

Exports by Country

Nepal (X units) was the main destination for non-electric industrial furnace exports from India, with a X% share of total exports. Moreover, non-electric industrial furnace exports to Nepal exceeded the volume sent to the second major destination, Tanzania (X units), more than tenfold. Indonesia (X units) ranked third in terms of total exports with a X% share.

From 2012 to 2023, the average annual growth rate of volume to Nepal amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Tanzania (X% per year) and Indonesia (X% per year).

In value terms, Tanzania ($X) remains the key foreign market for non-electric industrial or laboratory furnaces and ovens exports from India, comprising X% of total exports. The second position in the ranking was held by Nepal ($X), with a X% share of total exports. It was followed by Indonesia, with a X% share.

From 2012 to 2023, the average annual growth rate of value to Tanzania totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Nepal (X% per year) and Indonesia (X% per year).

Export Prices by Country

In 2023, the average non-electric industrial furnace export price amounted to $X per unit, surging by X% against the previous year. Over the period under review, the export price, however, showed a abrupt setback. The most prominent rate of growth was recorded in 2017 when the average export price increased by X% against the previous year. Over the period under review, the average export prices hit record highs at $X per unit in 2012; however, from 2013 to 2023, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2023, amid the top suppliers, the country with the highest price was Tanzania ($X per unit), while the average price for exports to Nepal ($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 Equatorial Guinea (X%), while the prices for the other major destinations experienced more modest paces of growth.

Non-Electric Industrial Furnace Imports

Imports into India

For the third consecutive year, India recorded growth in overseas purchases of non-electric industrial or laboratory furnaces and ovens, which increased by X% to X units in 2023. Overall, imports recorded resilient growth. The most prominent rate of growth was recorded in 2022 with an increase of X% against the previous year. Over the period under review, imports attained the peak figure in 2023 and are likely to see gradual growth in years to come.

In value terms, non-electric industrial furnace imports skyrocketed to $X in 2023. In general, imports saw temperate growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2023, China (X units) constituted the largest non-electric industrial furnace supplier to India, with a X% share of total imports. Moreover, non-electric industrial furnace imports from China exceeded the figures recorded by the second-largest supplier, Germany (X units), sevenfold. The third position in this ranking was taken by Italy (X units), 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: Germany (X% per year) and Italy (X% per year).

In value terms, China ($X) constituted the largest supplier of non-electric industrial or laboratory furnaces and ovens to India, comprising X% of total imports. The second position in the ranking was taken by Italy ($X), with a X% share of total imports. It was followed by Germany, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (X% per year) and Germany (X% per year).

Import Prices by Country

The average non-electric industrial furnace import price stood at $X per unit in 2023, growing by X% against the previous year. In general, the import price, however, faced a abrupt shrinkage. The pace of growth was the most pronounced in 2021 an increase of X%. The import price peaked at $X per unit in 2012; however, from 2013 to 2023, import prices stood at a somewhat lower figure.

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 Italy ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2023, 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