Plugs and Socket Price in India - 2023
Contents:
- Plugs and Socket Price in India (CIF) - 2022
- Plugs and Socket Price in India (FOB) - 2022
- Plugs and Socket Imports in India
- Plugs and Socket Exports in India
Plugs and Socket Price in India (CIF) - 2022
In 2022, the average plugs and socket import price amounted to $0.8 per unit, picking up by 7.1% against the previous year. Overall, the import price enjoyed a strong expansion. The most prominent rate of growth was recorded in 2017 when the average import price increased by 58% against the previous year. Over the period under review, average import prices attained the peak figure in 2022 and is expected to retain growth in years to come.
Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from the United States ($0.8 per unit) and Hong Kong SAR ($0.8 per unit), while the price for Singapore ($0.8 per unit) and China ($0.8 per unit) were amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+19.4%), while the prices for the other major suppliers experienced more modest paces of growth.
Plugs and Socket Price in India (FOB) - 2022
The average plugs and socket export price stood at $0.6 per unit in 2022, which is down by -2.9% against the previous year. In general, the export price, however, showed a remarkable increase. The growth pace was the most rapid in 2017 when the average export price increased by 78% against the previous year. Over the period under review, the average export prices attained the maximum at $0.6 per unit in 2021, and then fell modestly in the following year.
Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Australia ($0.6 per unit) and the United States ($0.6 per unit), while the average price for exports to Italy ($0.6 per unit) and Thailand ($0.6 per unit) were amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Nepal (+29.1%), while the prices for the other major destinations experienced more modest paces of growth.
Plugs and Socket Imports in India
In 2022, the amount of electrical plugs and sockets for under 1000 v imported into India soared to 573M units, surging by 26% compared with 2021 figures. In general, total imports indicated buoyant growth from 2019 to 2022: its volume increased at an average annual rate of +11.7% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +47.2% against 2020 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.
In value terms, plugs and socket imports surged to $438M in 2022. Over the period under review, total imports indicated a strong increase from 2019 to 2022: its value increased at an average annual rate of +19.0% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +71.2% against 2020 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.
| Import of Plugs and Socket in India (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 51.1 | 45.9 | 65.7 | 131 | 36.9% |
| United States | 27.8 | 28.4 | 33.6 | 52.5 | 23.6% |
| Hong Kong SAR | 50.8 | 48.0 | 50.3 | 47.8 | -2.0% |
| Singapore | 24.8 | 27.3 | 33.7 | 43.9 | 21.0% |
| Germany | 25.1 | 25.8 | 34.6 | 39.4 | 16.2% |
| South Korea | 14.4 | 13.6 | 19.8 | 23.8 | 18.2% |
| Japan | 13.0 | 12.4 | 19.5 | 19.9 | 15.2% |
| Others | 52.9 | 54.5 | 67.3 | 79.9 | 14.7% |
| Total | 260 | 256 | 324 | 438 | 19.0% |
Top Suppliers of Plugs and Socket to India in 2022:
- China (171.1M units)
- United States (68.6M units)
- Hong Kong SAR (62.5M units)
- Singapore (57.4M units)
- Germany (51.5M units)
- South Korea (31.1M units)
- Japan (26.0M units)
Plugs and Socket Exports in India
In 2022, plugs and socket exports from India declined notably to 72M units, which is down by -30.5% on 2021. In general, exports saw a perceptible reduction. The growth pace was the most rapid in 2021 with an increase of 45% against the previous year. As a result, the exports reached the peak of 103M units, and then dropped sharply in the following year.
In value terms, plugs and socket exports fell rapidly to $45M in 2022. Over the period under review, total exports indicated a moderate expansion from 2019 to 2022: its value increased at an average annual rate of +3.9% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +12.1% against 2019 indices. The pace of growth was the most pronounced in 2021 when exports increased by 52%. As a result, the exports attained the peak of $67M, and then reduced remarkably in the following year.
| Export of Plugs and Socket in India (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 8.3 | 5.5 | 11.0 | 7.8 | -2.0% |
| Germany | 7.7 | 11.1 | 9.5 | 5.9 | -8.5% |
| France | 4.3 | 3.6 | 7.3 | 5.4 | 7.9% |
| Italy | 3.6 | 3.0 | 5.9 | 4.1 | 4.4% |
| Australia | 2.2 | 2.4 | 3.3 | 3.4 | 15.6% |
| Czech Republic | 0.4 | N/A | 9.2 | 3.2 | 100.0% |
| Denmark | N/A | N/A | 0.2 | 2.0 | 900.0% |
| Hong Kong SAR | 2.2 | 2.5 | 2.5 | 1.1 | -20.6% |
| China | 1.4 | 2.1 | 2.0 | 1.0 | -10.6% |
| Brazil | N/A | N/A | N/A | 0.9 | 0% |
| Mexico | 0.1 | 0.1 | 0.3 | 0.9 | 108.0% |
| Nepal | 0.6 | 0.6 | 1.0 | 0.8 | 10.1% |
| Thailand | 1.4 | 1.6 | 2.4 | 0.8 | -17.0% |
| Others | 8.1 | 11.4 | 12.2 | 7.7 | -1.7% |
| Total | 40.2 | 43.8 | 66.8 | 45.1 | 3.9% |
Top Export Markets for Plugs and Socket from India in 2022:
- United States (12.4M units)
- Germany (9.3M units)
- France (8.6M units)
- Italy (6.5M units)
- Australia (5.4M units)
- Czech Republic (5.2M units)
- Denmark (3.2M units)
- Hong Kong SAR (1.8M units)
- China (1.6M units)
- Brazil (1.4M units)
- Mexico (1.4M units)
- Nepal (1.3M units)
- Thailand (1.3M units)
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