Bangladesh: Bearing Market 2024

Bearing Market Size in Bangladesh

For the third year in a row, the Bangladeshi bearing market recorded growth in sales value, which increased by X% to $X in 2022. In general, consumption enjoyed a prominent expansion. Over the period under review, the market reached the maximum level in 2022 and is likely to continue growth in the immediate term.

Bearing Exports

Exports from Bangladesh

In 2022, the amount of ball or roller bearings exported from Bangladesh declined remarkably to X kg, falling by X% against the year before. In general, exports recorded a noticeable curtailment. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. The exports peaked at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, bearing exports reduced sharply to $X in 2022. Overall, exports recorded a perceptible curtailment. The growth pace was the most rapid in 2021 with an increase of X%. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

Ireland (X kg) was the main destination for bearing exports from Bangladesh, with a X% share of total exports. Moreover, bearing exports to Ireland exceeded the volume sent to the second major destination, India (X kg), twofold. The third position in this ranking was taken by Maldives (X kg), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Ireland was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: India (X% per year) and Maldives (X% per year).

In value terms, Ireland ($X), India ($X) and South Africa ($X) constituted the largest markets for bearing exported from Bangladesh worldwide, together accounting for X% of total exports. Maldives, New Zealand and Singapore lagged somewhat behind, together accounting for a further X%.

In terms of the main countries of destination, Singapore, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average bearing export price stood at $X per ton in 2022, rising by X% against the previous year. Overall, the export price, however, saw a mild slump. The most prominent rate of growth was recorded in 2013 an increase of X% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was South Africa ($X per ton), while the average price for exports to Singapore ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Singapore (X%), while the prices for the other major destinations experienced mixed trend patterns.

Bearing Imports

Imports into Bangladesh

In 2022, purchases abroad of ball or roller bearings increased by X% to X tons, rising for the third year in a row after two years of decline. Over the period under review, imports saw a significant increase. The most prominent rate of growth was recorded in 2014 with an increase of X%. Over the period under review, imports attained the maximum in 2022 and are likely to see gradual growth in years to come.

In value terms, bearing imports reduced to $X in 2022. Overall, imports saw a prominent expansion. The most prominent rate of growth was recorded in 2014 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure at $X in 2021, and then reduced in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of bearing to Bangladesh, accounting for a X% share of total imports. Moreover, bearing imports from China exceeded the figures recorded by the second-largest supplier, India (X tons), more than tenfold. Singapore (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: India (X% per year) and Singapore (X% per year).

In value terms, China ($X) constituted the largest supplier of ball or roller bearings to Bangladesh, comprising X% of total imports. The second position in the ranking was held by India ($X), with a X% share of total imports. It was followed by Singapore, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: India (X% per year) and Singapore (X% per year).

Import Prices by Country

In 2022, the average bearing import price amounted to $X per ton, dropping by X% against the previous year. In general, the import price saw a deep slump. The most prominent rate of growth was recorded in 2015 when the average import price increased by X% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Singapore ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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