India: Spherical Roller Bearing Market 2024

Spherical Roller Bearing Market Size in India

In 2021, the Indian spherical roller bearing market increased by 7.4% to $X, rising for the fifth year in a row after two years of decline. Overall, the total consumption indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +5.3% 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 +43.2% against 2016 indices. Spherical roller bearing consumption peaked in 2021 and is likely to see steady growth in the near future.

Spherical Roller Bearing Production in India

In value terms, spherical roller bearing production dropped to $X in 2021 estimated in export price. Over the period under review, the total production indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +5.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +51.5% against 2017 indices. The pace of growth was the most pronounced in 2019 when the production volume increased by 30% against the previous year. Over the period under review, production reached the peak level at $X in 2020, and then declined in the following year.

Spherical Roller Bearing Exports

Exports from India

In 2021, overseas shipments of spherical roller bearings increased by 19% to X tons, rising for the fifth year in a row after four years of decline. Overall, exports posted temperate growth. The pace of growth appeared the most rapid in 2017 when exports increased by 52%. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in the immediate term.

In value terms, spherical roller bearing exports skyrocketed to $X in 2021. Over the period under review, exports recorded a pronounced expansion. The growth pace was the most rapid in 2017 with an increase of 42% against the previous year. Over the period under review, the exports attained the maximum in 2021 and are expected to retain growth in the immediate term.

Exports by Country

Singapore (X tons), the United Arab Emirates (X tons) and Germany (X tons) were the main destinations of spherical roller bearing exports from India, together comprising 42% of total exports. These countries were followed by Russia, Australia, Italy, Spain, China, South Korea, Austria, the United States, Brazil and Bangladesh, which together accounted for a further 36%.

From 2012 to 2021, the biggest increases were recorded for Australia (with a CAGR of +90.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X) emerged as the key foreign market for spherical roller bearings exports from India, comprising 21% of total exports. The second position in the ranking was taken by Germany ($X), with an 8.3% share of total exports. It was followed by Russia, with an 8% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Singapore totaled +53.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+2.3% per year) and Russia (+19.2% per year).

Export Prices by Country

The average spherical roller bearing export price stood at $X per ton in 2021, increasing by 7.6% against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2013 an increase of 7.7%. As a result, the export price reached the peak level of $X per ton. From 2014 to 2021, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Russia ($X per ton), while the average price for exports to the United Arab Emirates ($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 Australia (-4.4%), while the prices for the other major destinations experienced a decline.

Spherical Roller Bearing Imports

Imports into India

In 2021, purchases abroad of spherical roller bearings was finally on the rise to reach X tons after two years of decline. Overall, imports posted buoyant growth. Over the period under review, imports attained the peak figure at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, spherical roller bearing imports surged to $X in 2021. Over the period under review, total imports indicated a noticeable expansion from 2012 to 2021: its value increased at an average annual rate of +4.1% 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 supplier of spherical roller bearing to India, with a 32% share of total imports. Moreover, spherical roller bearing imports from China exceeded the figures recorded by the second-largest supplier, Germany (X tons), twofold. The third position in this ranking was taken by the United Arab Emirates (X tons), with an 8.6% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at +11.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+8.2% per year) and the United Arab Emirates (-8.2% per year).

In value terms, China ($X) constituted the largest supplier of spherical roller bearings to India, comprising 34% of total imports. The second position in the ranking was taken by Germany ($X), with a 15% share of total imports. It was followed by Sweden, with a 9% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled +7.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+4.5% per year) and Sweden (+6.1% per year).

Import Prices by Country

The average spherical roller bearing import price stood at $X per ton in 2021, rising by 4.7% against the previous year. In general, the import price, however, recorded a slight descent. Over the period under review, average import prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was Romania ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Romania (-3.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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