India: Ball Bearing Market 2024

Ball Bearing Market Size in India

After four years of growth, the Indian ball bearing market decreased by -0.5% to $X in 2021. The market value increased at an average annual rate of +4.4% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2020, and then fell modestly in the following year.

Ball Bearing Production in India

In value terms, ball bearing production shrank slightly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +4.5% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2013 when the production volume increased by 24% against the previous year. Ball bearing production peaked at $X in 2020, and then fell modestly in the following year.

Ball Bearing Exports

Exports from India

In 2021, ball bearing exports from India soared to X tons, increasing by 44% against the previous year. In general, total exports indicated a buoyant increase from 2012 to 2021: its volume increased at an average annual rate of +6.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, ball bearing exports surged to $X in 2021. Over the period under review, exports enjoyed a prominent expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Germany (X tons), the United States (X tons) and Mexico (X tons) were the main destinations of ball bearing exports from India, together comprising 39% of total exports. China, Spain, Indonesia, Nepal, Thailand, Bangladesh, the United Arab Emirates, Brazil, Italy and Belgium lagged somewhat behind, together comprising a further 34%.

From 2012 to 2021, the biggest increases were recorded for China (with a CAGR of +33.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for ball bearing exported from India were Germany ($X), the United States ($X) and Mexico ($X), with a combined 40% share of total exports. These countries were followed by China, Spain, Indonesia, Nepal, Thailand, Bangladesh, Brazil, Italy, Belgium and the United Arab Emirates, which together accounted for a further 33%.

Among the main countries of destination, China, with a CAGR of +39.0%, saw 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

In 2021, the average ball bearing export price amounted to $X per ton, picking up by 8.2% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +4.5%. The pace of growth was the most pronounced in 2013 an increase of 27%. Over the period under review, the average export prices reached the maximum in 2021 and is expected to retain growth in years to come.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Mexico ($X per ton), while the average price for exports to the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Nepal (+4.1%), while the prices for the other major destinations experienced more modest paces of growth.

Ball Bearing Imports

Imports into India

In 2021, after two years of decline, there was significant growth in purchases abroad of ball bearings, when their volume increased by 52% to X tons. Overall, total imports indicated a buoyant increase from 2012 to 2021: its volume increased at an average annual rate of +5.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Imports peaked at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, ball bearing imports soared to $X in 2021. Over the period under review, total imports 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. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X tons) constituted the largest ball bearing supplier to India, accounting for a 54% share of total imports. Moreover, ball bearing imports from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), fivefold. The third position in this ranking was held by Germany (X tons), with an 8.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +10.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+5.6% per year) and Germany (+1.0% per year).

In value terms, China ($X) constituted the largest supplier of ball bearings to India, comprising 55% of total imports. The second position in the ranking was held by Japan ($X), with a 12% share of total imports. It was followed by Germany, with an 8.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to +9.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+4.8% per year) and Germany (+0.2% per year).

Import Prices by Country

The average ball bearing import price stood at $X per ton in 2021, rising by 2.1% against the previous year. In general, the import price saw a relatively flat trend pattern. The growth pace was the most rapid in 2020 an increase of 12% against the previous year. The import price peaked at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Japan ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+1.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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