India: Needle Roller Bearing Market 2024

Needle Roller Bearing Market Size in India

The Indian needle roller bearing market rose slightly to $X in 2021, with an increase of 5% against the previous year. The market value increased at an average annual rate of +3.1% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Needle roller bearing consumption peaked at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Needle Roller Bearing Production in India

In value terms, needle roller bearing production expanded modestly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2018 when the production volume increased by 17%. Needle roller bearing production peaked at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Needle Roller Bearing Exports

Exports from India

In 2021, exports of needle roller bearings from India surged to X tons, jumping by 47% on 2020. In general, exports saw a relatively flat trend pattern. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, needle roller bearing exports skyrocketed to $X in 2021. Over the period under review, exports, however, saw a relatively flat trend pattern. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

Egypt (X tons), Germany (X tons) and Sri Lanka (X tons) were the main destinations of needle roller bearing exports from India, with a combined 38% share of total exports. Italy, Nigeria, the United Arab Emirates, Bangladesh, Vietnam, Sudan, Singapore, the United States, Nepal and Thailand lagged somewhat behind, together comprising a further 39%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Nepal (with a CAGR of +81.2%), while the other leaders experienced more modest paces of growth.

In value terms, Egypt ($X), Germany ($X) and Sri Lanka ($X) appeared to be the largest markets for needle roller bearing exported from India worldwide, together accounting for 39% of total exports. These countries were followed by Italy, Nigeria, Bangladesh, Vietnam, Sudan, Singapore, the United States, Nepal, Thailand and the United Arab Emirates, which together accounted for a further 37%.

Among the main countries of destination, Nepal, with a CAGR of +78.1%, 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 needle roller bearing export price amounted to $X per ton, leveling off at the previous year. Over the period under review, the export price showed a mild reduction. The growth pace was the most rapid in 2018 an increase of 18% against the previous year. The export price peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Nepal ($X per ton), while the average price for exports to the United Arab Emirates ($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 Vietnam (-1.3%), while the prices for the other major destinations experienced a decline.

Needle Roller Bearing Imports

Imports into India

After two years of decline, overseas purchases of needle roller bearings increased by 42% to X tons in 2021. Over the period under review, imports posted a strong increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, needle roller bearing imports skyrocketed to $X in 2021. Overall, total imports indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +7.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

China (X tons), Germany (X tons) and Japan (X tons) were the main suppliers of needle roller bearing imports to India, with a combined 74% share of total imports. The United States, South Korea, Vietnam, the UK, Thailand and France lagged somewhat behind, together accounting for a further 19%.

From 2012 to 2021, the biggest increases were in Vietnam (with a CAGR of +81.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Germany ($X) and Japan ($X) appeared to be the largest needle roller bearing suppliers to India, with a combined 74% share of total imports. The United States, South Korea, Vietnam, the UK, Thailand and France lagged somewhat behind, together accounting for a further 19%.

Among the main suppliers, Vietnam, with a CAGR of +79.0%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average needle roller bearing import price amounted to $X per ton, standing approx. at the previous year. Over the period under review, the import price saw a mild decline. The most prominent rate of growth was recorded in 2020 when the average import price increased by 7.5% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2021, the countries with the highest prices were France ($X per ton) and Vietnam ($X per ton), while the price for South Korea ($X per ton) and Thailand ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (-1.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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