Central Asia: Ball Bearing Parts Market 2022

Ball Bearing Parts Market Size in Central Asia

After two years of growth, the Central Asian ball bearing parts market decreased by -2.7% to $X in 2021. Overall, consumption continues to indicate a slight curtailment. As a result, consumption attained the peak level of $X. From 2018 to 2021, the growth of the market remained at a lower figure.

Ball Bearing Parts Production in Central Asia

In value terms, ball bearing parts production contracted to $X in 2021 estimated in export price. In general, production saw a noticeable descent. The pace of growth was the most pronounced in 2017 with an increase of 19% against the previous year. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Ball Bearing Parts Exports

Exports in Central Asia

In 2021, shipments abroad of parts of ball or roller bearings was finally on the rise to reach X tons after four years of decline. Overall, exports, however, recorded a abrupt decline. The pace of growth was the most pronounced in 2015 with an increase of 79%. Over the period under review, the exports attained the peak figure at X tons in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

In value terms, ball bearing parts exports soared to $X in 2021. Over the period under review, exports, however, continue to indicate a deep downturn. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Kazakhstan dominates exports structure, finishing at X tons, which was approx. 92% of total exports in 2021. It was distantly followed by Mongolia (X tons), creating a 7.5% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to ball bearing parts exports from Kazakhstan stood at -7.5%. At the same time, Mongolia (+66.3%) displayed positive paces of growth. Moreover, Mongolia emerged as the fastest-growing exporter exported in Central Asia, with a CAGR of +66.3% from 2012-2021. Mongolia (+7.4 p.p.) significantly strengthened its position in terms of the total exports, while Kazakhstan saw its share reduced by -7.5% from 2012 to 2021, respectively.

In value terms, the largest ball bearing parts supplying countries in Central Asia were Kazakhstan ($X) and Mongolia ($X).

Among the main exporting countries, Mongolia, with a CAGR of +84.6%, recorded the highest growth rate of the value of exports, over the period under review.

Export Prices by Country

The export price in Central Asia stood at $X per ton in 2021, jumping by 48% against the previous year. Over the period under review, the export price, however, showed a pronounced slump. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Mongolia ($X per ton), while Kazakhstan totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mongolia (+11.0%).

Ball Bearing Parts Imports

Imports in Central Asia

For the fourth year in a row, Central Asia recorded decline in supplies from abroad of parts of ball or roller bearings, which decreased by -42% to X tons in 2021. Over the period under review, imports continue to indicate a deep reduction. The most prominent rate of growth was recorded in 2013 with an increase of 137%. As a result, imports reached the peak of X tons. From 2014 to 2021, the growth of imports remained at a lower figure.

In value terms, ball bearing parts imports declined significantly to $X in 2021. Overall, imports saw a noticeable decline. The most prominent rate of growth was recorded in 2013 when imports increased by 81% against the previous year. As a result, imports reached the peak of $X. From 2014 to 2021, the growth of imports failed to regain momentum.

Imports by Country

Uzbekistan represented the major importer of parts of ball or roller bearings in Central Asia, with the volume of imports reaching X tons, which was approx. 53% of total imports in 2021. Kazakhstan (X tons) held the second position in the ranking, distantly followed by Mongolia (X tons). All these countries together held approx. 40% share of total imports. The following importers - Tajikistan (X tons) and Kyrgyzstan (X tons) - each finished at a 6.1% share of total imports.

From 2012 to 2021, the biggest increases were in Tajikistan (with a CAGR of +41.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Kazakhstan ($X) constitutes the largest market for imported parts of ball or roller bearings in Central Asia, comprising 55% of total imports. The second position in the ranking was taken by Mongolia ($X), with a 19% share of total imports. It was followed by Uzbekistan, with a 19% share.

In Kazakhstan, ball bearing parts imports declined by an average annual rate of -6.6% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Mongolia (+25.5% per year) and Uzbekistan (-7.3% per year).

Import Prices by Country

In 2021, the import price in Central Asia amounted to $X per ton, growing by 44% against the previous year. Import price indicated a noticeable increase from 2012 to 2021: its price increased at an average annual rate of +3.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, ball bearing parts import price increased by +113.1% against 2015 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of destination: the country with the highest price was Mongolia ($X per ton), while Uzbekistan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mongolia (+7.5%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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