CIS: Needle Roller Bearing Market 2024

Needle Roller Bearing Market Size in CIS

In 2021, after four years of growth, there was decline in the CIS needle roller bearing market, when its value decreased by -1.9% to $X. Over the period under review, consumption, however, continues to indicate a perceptible reduction. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Needle Roller Bearing Production in CIS

In value terms, needle roller bearing production reduced to $X in 2021 estimated in export price. In general, production, however, saw a abrupt setback. The most prominent rate of growth was recorded in 2018 when the production volume increased by 22%. The level of production peaked at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Needle Roller Bearing Exports

Exports in CIS

In 2021, shipments abroad of needle roller bearings decreased by -31.8% to X tons, falling for the second consecutive year after eight years of growth. Over the period under review, exports, however, saw slight growth. The most prominent rate of growth was recorded in 2019 when exports increased by 39%. As a result, the exports reached the peak of X tons. From 2020 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, needle roller bearing exports declined dramatically to $X in 2021. Overall, exports continue to indicate a pronounced decrease. The pace of growth appeared the most rapid in 2019 when exports increased by 16% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

In 2021, Russia (X tons) represented the key exporter of needle roller bearings, making up 83% of total exports. Belarus (X tons) ranks second in terms of the total exports with an 11% share, followed by Armenia (6%).

Exports from Russia increased at an average annual rate of +2.9% from 2012 to 2021. At the same time, Armenia (+171.8%) displayed positive paces of growth. Moreover, Armenia emerged as the fastest-growing exporter exported in the CIS, with a CAGR of +171.8% from 2012-2021. By contrast, Belarus (-7.7%) illustrated a downward trend over the same period. Russia (+9.1 p.p.) and Armenia (+6 p.p.) significantly strengthened its position in terms of the total exports, while Belarus saw its share reduced by -15.2% from 2012 to 2021, respectively.

In value terms, Russia ($X) remains the largest needle roller bearing supplier in the CIS, comprising 73% of total exports. The second position in the ranking was held by Belarus ($X), with a 27% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in Russia totaled -3.0%. In the other countries, the average annual rates were as follows: Belarus (-6.2% per year) and Armenia (+86.0% per year).

Export Prices by Country

In 2021, the export price in the CIS amounted to $X per ton, increasing by 3.3% against the previous year. Over the period under review, the export price, however, saw a abrupt slump. The pace of growth was the most pronounced in 2020 an increase of 42%. Over the period under review, the export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belarus (+1.7%), while the other leaders experienced a decline in the export price figures.

Needle Roller Bearing Imports

Imports in CIS

After two years of growth, supplies from abroad of needle roller bearings decreased by -16.3% to X tons in 2021. Overall, imports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of 57%. The volume of import peaked at X tons in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

In value terms, needle roller bearing imports amounted to $X in 2021. Total imports indicated mild growth from 2012 to 2021: its value increased at an average annual rate of +1.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +72.5% against 2018 indices. The growth pace was the most rapid in 2017 with an increase of 98% against the previous year. As a result, imports reached the peak of $X. From 2018 to 2021, the growth of imports failed to regain momentum.

Imports by Country

The purchases of the three major importers of needle roller bearings, namely Belarus, Russia and Kazakhstan, represented more than two-thirds of total import.

From 2012 to 2021, the biggest increases were in Kazakhstan (with a CAGR of +14.4%), while purchases for the other leaders experienced a decline in the imports figures.

In value terms, Russia ($X) constitutes the largest market for imported needle roller bearings in the CIS, comprising 59% of total imports. The second position in the ranking was taken by Belarus ($X), with a 22% share of total imports.

In Russia, needle roller bearing imports increased at an average annual rate of +2.7% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Belarus (-5.4% per year) and Kazakhstan (+8.0% per year).

Import Prices by Country

The import price in the CIS stood at $X per ton in 2021, surging by 33% against the previous year. Import price indicated a modest expansion from 2012 to 2021: its price increased at an average annual rate of +1.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of import peaked at $X per ton in 2017; however, from 2018 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Russia ($X per ton), while Belarus ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Russia (+5.7%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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