Price for Electric Motors; AC Motors, Single-Phase in India - 2023
Contents:
- Price for Electric Motors; AC Motors, Single-Phase in India (FOB) - 2023
- Price for Electric Motors; AC Motors, Single-Phase in India (CIF) - 2022
- Exports of Electric Motors; AC Motors, Single-Phase in India
- Imports of Electric Motors; AC Motors, Single-Phase in India
Price for Electric Motors; AC Motors, Single-Phase in India (FOB) - 2023
In June 2023, the average export price for electric motors; AC motors, single-phases amounted to $25.4 per unit, surging by 8.9% against the previous month. Over the period under review, the export price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in August 2022 when the average export price increased by 16% m-o-m. The export price peaked at $27.7 per unit in September 2022; however, from October 2022 to June 2023, the export prices remained at a lower figure.
Prices varied noticeably by the country of destination: the country with the highest price was Kuwait ($55.8 per unit), while the average price for exports to Bangladesh ($8.3 per unit) was amongst the lowest.
From June 2022 to June 2023, the most notable rate of growth in terms of prices was recorded for supplies to Mexico (+11.0%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Electric Motors; AC Motors, Single-Phase in India (CIF) - 2022
The average import price for electric motors; AC motors, single-phases stood at $556 per unit in 2022, remaining constant against the previous year. Overall, the import price showed a slight decline. The most prominent rate of growth was recorded in 2021 an increase of 71%. Over the period under review, average import prices reached the peak figure at $678 per unit in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.
There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was China ($1,315 per unit), while the price for Vietnam ($24 per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+3.9%), while the prices for the other major suppliers experienced mixed trend patterns.
Exports of Electric Motors; AC Motors, Single-Phase in India
In 2022, after three years of growth, there was significant decline in shipments abroad of electric motors; AC motors, single-phases, when their volume decreased by -22.5% to 3.1M units. The total export volume increased at an average annual rate of +3.1% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 when exports increased by 35%. As a result, the exports reached the peak of 4M units, and then fell significantly in the following year.
In value terms, electric motors; AC motors, single-phase exports fell to $80M in 2022. The total export value increased at an average annual rate of +8.4% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 22%. As a result, the exports reached the peak of $92M, and then declined in the following year.
| Export of Electric Motors; AC Motors, Single-Phase in India (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 29.2 | 28.7 | 57.4 | 60.1 | 27.2% |
| Saudi Arabia | 9.8 | 10.6 | 9.3 | 7.4 | -8.9% |
| Bangladesh | 1.2 | 0.5 | 3.6 | 2.6 | 29.4% |
| Kuwait | 0.5 | 0.5 | 1.2 | 2.1 | 61.3% |
| Bahrain | 2.1 | 1.7 | 1.1 | 1.6 | -8.7% |
| Mexico | 14.9 | 28.1 | 13.0 | 0.5 | -67.7% |
| Others | 5.4 | 5.9 | 6.7 | 6.1 | 4.1% |
| Total | 63.1 | 76.0 | 92.4 | 80.4 | 8.4% |
Top Export Markets for Electric Motors; AC Motors, Single-Phase from India in 2022:
- United States (2198.9K units)
- Bangladesh (312.3K units)
- Saudi Arabia (268.8K units)
- Kuwait (55.8K units)
- Mexico (41.2K units)
- Bahrain (40.4K units)
Imports of Electric Motors; AC Motors, Single-Phase in India
In 2022, supplies from abroad of electric motors; AC motors, single-phases was finally on the rise to reach 238K units for the first time since 2019, thus ending a two-year declining trend. The total import volume increased at an average annual rate of +5.1% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.
In value terms, electric motors; AC motors, single-phase imports skyrocketed to $132M in 2022. Overall, imports enjoyed a significant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.
| Import of Electric Motors; AC Motors, Single-Phase in India (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 39.2 | 46.8 | 75.6 | 112 | 41.9% |
| Vietnam | 4.5 | 3.9 | 2.3 | 2.7 | -15.7% |
| Hong Kong SAR | 1.1 | 1.5 | 2.6 | 2.4 | 29.7% |
| Italy | 1.0 | 0.9 | 1.3 | 2.3 | 32.0% |
| Thailand | 1.1 | 0.7 | 1.1 | 1.1 | 0.0% |
| France | 4.4 | 1.0 | 0.9 | 0.5 | -51.6% |
| Others | 13.9 | 8.8 | 7.4 | 11.5 | -6.1% |
| Total | 65.2 | 63.5 | 91.2 | 132 | 26.5% |
Top Suppliers of Electric Motors; AC Motors, Single-Phase to India in 2022:
- Vietnam (111.9K units)
- China (85.3K units)
- Thailand (11.6K units)
- Italy (9.0K units)
- Hong Kong SAR (8.3K units)
- France (4.4K units)
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