India Robots Market Shipment Analysis
India Robots Market registered a decline of -6.72% in value shipments in 2022 as compared to 2021 and a decrease of -3.53% CAGR in 2022 over a period of 2017. In Robots Market India is becoming more competitive as the HHI index in 2022 was 1760 while in 2017 it was 1996. 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 Robots 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 Robots Market in 2022 was 8.57 while in 2017 it was 34.94. Japan, China, Germany, Rep. of Korea and Denmark were among the top players of the market in 2022, where Japan acquired the largest market share of 33.34% with a shipment value of 28.94 million USD in 2022 Japan also offered the product below the average market price thus having a competitive advantage over others In 2017 Japan had the largest market share of 38.02% with the shipment value of 43.89 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 Robots Market in 2017.
