India Hard Disk Market Shipment Analysis
India Hard Disk Market registered a growth of 11.26% in value shipments in 2022 as compared to 2021 and a decrease of -1.04% CAGR in 2022 over a period of 2017. In Hard Disk Market India is becoming more competitive as the HHI index in 2022 was 1643 while in 2017 it was 2004. Herfindahl Index measures the competitiveness of exporting countries. The range lies from 0 to 10000, where a lower index number represents a larger number of players or exporting countries in the market while a large index number means less numbers of players or countries exporting in the market. India has reportedly relied more on imports to meet its growing demand in Hard Disk Market.
India is shifting towards local production to meet its demand as we see the trend is shifting towards reducing imports. The import factor of Hard Disk Market in 2022 was 23.26 while in 2017 it was 29.18. Thailand, Singapore, USA, China and China, Hong Kong SAR were among the top players of the market in 2022, where Thailand acquired the largest market share of 26.1% with a shipment value of 222.95 million USD in 2022 Thailand also offered the product above the average market price, but remained at the leadership position indicating the trust it holds in the Hard Disk Market. In 2017 China had the largest market share of 32.7% with the shipment value of 267.36 million USD. The country was offering its product with an average price which is lower than the average market price offered in the country. As China price is lower than the average price, it provided a significant edge among other competitor in 2017.
