India Surge Arrester Market Shipment Analysis
India Surge Arrester Market registered a decline of -1.24% in value shipments in 2022 as compared to 2021 and an increase of 0.9% CAGR in 2022 over a period of 2017. In Surge Arrester Market India is becoming more competitive as the HHI index in 2022 was 1417 while in 2017 it was 1746. 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 domestic production to meet its growing demand in Surge Arrester 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 Surge Arrester Market in 2022 was 0.75 while in 2017 it was 0.92. Germany, China, Denmark, Japan and Türkiye were among the top players of the market in 2022, where Germany acquired the largest market share of 24.64% with a shipment value of 3.11 million USD in 2022 Germany also offered the product above the average market price, but remained at the leadership position indicating the trust it holds in the Surge Arrester Market. In 2017 Germany had the largest market share of 32.17% with the shipment value of 3.89 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 Germanyprice is lower than the average price, it provided a significant edge among other competitor in 2017.
