India: Tapered Roller Bearing Market 2024

Tapered Roller Bearing Market Size in India

In 2021, the Indian tapered roller bearing market decreased by -0.4% to $X, falling for the third consecutive year after two years of growth. The market value increased at an average annual rate of +2.2% from 2012 to 2021; however, the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. Tapered roller bearing consumption peaked at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Tapered Roller Bearing Production in India

In value terms, tapered roller bearing production totaled $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.2% from 2012 to 2021; however, the trend pattern remained relatively stable, with only minor fluctuations in certain years. The pace of growth appeared the most rapid in 2013 with an increase of 18%. Tapered roller bearing production peaked at $X in 2019; afterwards, it flattened through to 2021.

Tapered Roller Bearing Exports

Exports from India

Tapered roller bearing exports from India soared to X tons in 2021, increasing by 63% against the previous year's figure. Over the period under review, exports posted a strong expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, tapered roller bearing exports soared to $X in 2021. Overall, exports enjoyed a prominent increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States (X tons), Germany (X tons) and France (X tons) were the main destinations of tapered roller bearing exports from India, with a combined 56% share of total exports. These countries were followed by the United Arab Emirates, China, Belgium, Brazil, Japan, Turkey, Mexico and Singapore, which together accounted for a further 32%.

From 2012 to 2021, the biggest increases were recorded for Japan (with a CAGR of +93.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for tapered roller bearing exported from India were the United States ($X), Germany ($X) and France ($X), with a combined 60% share of total exports. China, Belgium, Brazil, Japan, Turkey, Mexico, Singapore and the United Arab Emirates lagged somewhat behind, together accounting for a further 28%.

In terms of the main countries of destination, Japan, with a CAGR of +87.9%, recorded 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 tapered roller bearing export price amounted to $X per ton, therefore, remained relatively stable against the previous year. In general, the export price, however, continues to indicate a slight curtailment. The pace of growth appeared the most rapid in 2013 when the average export price increased by 8.8% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2014; however, from 2015 to 2021, the 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 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 the United Arab Emirates (-0.8%), while the prices for the other major destinations experienced a decline.

Tapered Roller Bearing Imports

Imports into India

After two years of decline, overseas purchases of tapered roller bearings increased by 88% to X tons in 2021. Overall, imports continue to indicate perceptible growth. Imports peaked at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, tapered roller bearing imports skyrocketed to $X in 2021. Over the period under review, imports recorded a relatively flat trend pattern. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

China (X tons), Germany (X tons) and Japan (X tons) were the main suppliers of tapered roller bearing imports to India, with a combined 64% share of total imports. These countries were followed by the United States, Italy, South Korea, Romania, France, Singapore, the United Arab Emirates and the Netherlands, which together accounted for a further 30%.

From 2012 to 2021, the biggest increases were recorded for the Netherlands (with a CAGR of +35.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Germany ($X) and Japan ($X) constituted the largest tapered roller bearing suppliers to India, with a combined 64% share of total imports. These countries were followed by the United States, Italy, South Korea, Romania, France, Singapore, the Netherlands and the United Arab Emirates, which together accounted for a further 30%.

The Netherlands, with a CAGR of +31.4%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers 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 tapered roller bearing import price amounted to $X per ton, flattening at the previous year. In general, the import price continues to indicate a perceptible descent. The most prominent rate of growth was recorded in 2019 when the average import price increased by 0.9%. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, 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 the United Arab Emirates (+0.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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