Updated Jan 23, 2023 17:18

Ceramic Electrical Insulator Market in India

Market Overview
In , the Indian ceramic electrical insulator market decreased by -% to $, falling for the second consecutive year after two years of growth. In general, consumption saw a drastic downturn. Ceramic electrical insulator consumption peaked at $ in 2008; however, from 2009 to , consumption stood at a somewhat lower figure.

In value terms, ceramic electrical insulator production rose modestly to $ in estimated in export price. Overall, production, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 when the production volume increased by % against the previous year. Over the period under review, production hit record highs at $ in ; however, from to , production stood at a somewhat lower figure.


Consumption
In , consumption of electrical insulators of ceramics decreased by -% to units, falling for the eighth year in a row after two years of growth. In general, consumption showed a deep reduction. Over the period under review, consumption hit record highs at units in 2008; however, from 2009 to , consumption stood at a somewhat lower figure.

The size of the ceramic electrical insulator market in India contracted sharply to $ in , declining by -% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption continues to indicate a deep contraction. Over the period under review, the market attained the maximum level at $ in 2008; however, from 2009 to , consumption stood at a somewhat lower figure.


Market Forecast
Depressed by shrinking demand for ceramic electrical insulator in India, the market is expected to continue its downward consumption trend over the next eight years. The performance of the market is forecast to contract with an anticipated CAGR of -% for the period from to , which is projected to depress the market volume to units by the end of .

In value terms, the market is forecast to contract with an anticipated CAGR of -% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .


Market Structure
Driven by a growing demand, the share of imports in total supply in India increased significantly over the last fifteen-year period (from % to %). Over the period under review, the share of imports in terms of total ceramic electrical insulator consumption in India was relatively small in physical terms, fluctuating under an % figure. In value terms the share of imports also stood at a low figure, which means that the India ceramic electrical insulator market is largely supplied by domestic manufacturers. In , the share of imports in total consumption accounted for % in value terms and % in physical terms. The share of imports increased moderately ( percentage point) over the period under review.


Trade Balance
India remains a net exporter of ceramic electrical insulator; in physical and value terms, exports consistently exceeded imports from 2007 to . In , there was a significant trade surplus of units, which was equal to $. This tangible trade surplus reflects the fact that the market remains buoyed by domestic production, and the industry is highly incorporated into the global market, which is likely to continue in the medium term.