Central Asia: Spherical Roller Bearing Market 2024

Spherical Roller Bearing Market Size in Central Asia

The Central Asian spherical roller bearing market expanded rapidly to $X in 2021, increasing by 6.1% against the previous year. The total consumption indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +6.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +43.1% against 2014 indices. The level of consumption peaked in 2021 and is likely to continue growth in the immediate term.

Spherical Roller Bearing Production in Central Asia

In value terms, spherical roller bearing production dropped to $X in 2021 estimated in export price. The total production indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +5.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +51.2% against 2016 indices. The most prominent rate of growth was recorded in 2014 with an increase of 52% against the previous year. The level of production peaked at $X in 2020, and then reduced in the following year.

Spherical Roller Bearing Exports

Exports in Central Asia

In 2021, approx. X tons of spherical roller bearings were exported in Central Asia; shrinking by -83.5% against 2020. Overall, exports faced a abrupt setback. The pace of growth appeared the most rapid in 2015 with an increase of 162%. Over the period under review, the exports hit record highs at X tons in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

In value terms, spherical roller bearing exports shrank sharply to $X in 2021. Over the period under review, exports continue to indicate a deep downturn. The growth pace was the most rapid in 2015 with an increase of 158%. Over the period under review, the exports reached the maximum at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

The shipments of the one major exporters of spherical roller bearings, namely Kazakhstan, represented more than two-thirds of total export.

Kazakhstan was also the fastest-growing in terms of the spherical roller bearings exports, with a CAGR of -13.5% from 2012 to 2021. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, Kazakhstan ($X) also remains the largest spherical roller bearing supplier in Central Asia.

In Kazakhstan, spherical roller bearing exports decreased by an average annual rate of -14.6% over the period from 2012-2021.

Export Prices by Country

The export price in Central Asia stood at $X per ton in 2021, approximately reflecting the previous year. Overall, the export price recorded a slight slump. The most prominent rate of growth was recorded in 2014 when the export price increased by 22% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2018; however, from 2019 to 2021, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for Kazakhstan.

From 2012 to 2021, the rate of growth in terms of prices for Kazakhstan amounted to -1.3% per year.

Spherical Roller Bearing Imports

Imports in Central Asia

In 2021, the amount of spherical roller bearings imported in Central Asia soared to X tons, rising by 38% compared with 2020 figures. Total imports indicated a buoyant expansion from 2012 to 2021: its volume increased at an average annual rate of +7.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +53.5% against 2018 indices. The most prominent rate of growth was recorded in 2016 with an increase of 61% against the previous year. Over the period under review, imports reached the peak figure in 2021 and are expected to retain growth in years to come.

In value terms, spherical roller bearing imports soared to $X in 2021. Total imports indicated a moderate increase from 2012 to 2021: its value increased at an average annual rate of +3.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +32.7% against 2017 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Kazakhstan dominates imports structure, amounting to X tons, which was near 82% of total imports in 2021. Mongolia (X tons) took an 8.7% share (based on physical terms) of total imports, which put it in second place, followed by Uzbekistan (8.2%).

From 2012 to 2021, average annual rates of growth with regard to spherical roller bearing imports into Kazakhstan stood at +6.4%. At the same time, Uzbekistan (+40.8%) and Mongolia (+13.3%) displayed positive paces of growth. Moreover, Uzbekistan emerged as the fastest-growing importer imported in Central Asia, with a CAGR of +40.8% from 2012-2021. From 2012 to 2021, the share of Uzbekistan and Mongolia increased by +8.2 and +3.4 percentage points, respectively.

In value terms, Kazakhstan ($X) constitutes the largest market for imported spherical roller bearings in Central Asia, comprising 73% of total imports. The second position in the ranking was taken by Uzbekistan ($X), with a 14% share of total imports.

In Kazakhstan, spherical roller bearing imports expanded at an average annual rate of +1.6% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Uzbekistan (+45.9% per year) and Mongolia (+7.7% per year).

Import Prices by Country

In 2021, the import price in Central Asia amounted to $X per ton, surging by 7.1% against the previous year. In general, the import price, however, saw a perceptible downturn. The pace of growth was the most pronounced in 2017 when the import price increased by 29% against the previous year. Over the period under review, import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Uzbekistan (+3.6%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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