India Bulldozer Market Shipment Analysis
India Bulldozer Market registered a growth of 40.35% in value shipments in 2022 as compared to 2021 and a decrease of -14.33% CAGR in 2022 over a period of 2017. In Bulldozer Market India is becoming less competitive as HHI index in 2022 was 4276 while in 2017 it was 3861. 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 Bulldozer 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 Bulldozer Market in 2022 was 1.68 while in 2017 it was 7.27. Thailand, China, Oman, Brazil and Belgium were among the top players of the market in 2022, where Thailand acquired the largest market share of 63.34% with a shipment value of 11.02 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 Bulldozer Market. In 2017 Japan had the largest market share of 57.99% with the shipment value of 18.19 million USD. The country was offering its product with an average price which is higher than the average market price offered in the country. Although Japan offers its product above the market average price, it remained at the leadership position indicating the brand value it holds in the India Bulldozer Market in 2017.
