Pakistan: Ball Bearing Market 2024

Ball Bearing Market Size in Pakistan

The Pakistani ball bearing market was finally on the rise to reach $X in 2021, after three years of decline. Over the period under review, the total consumption indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +7.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Ball Bearing Exports

Exports from Pakistan

After three years of decline, overseas shipments of ball bearings increased by 314% to X tons in 2021. In general, exports, however, showed a abrupt descent. The growth pace was the most rapid in 2017 when exports increased by 1,061%. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, ball bearing exports skyrocketed to $X in 2021. Overall, exports, however, continue to indicate a abrupt downturn. The growth pace was the most rapid in 2017 when exports increased by 2,094% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Germany (X kg) was the main destination for ball bearing exports from Pakistan, with a 56% share of total exports. Moreover, ball bearing exports to Germany exceeded the volume sent to the second major destination, Saudi Arabia (X kg), twofold. Canada (X kg) ranked third in terms of total exports with an 8.9% share.

From 2012 to 2021, the average annual growth rate of volume to Germany stood at +55.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (-18.8% per year) and Canada (0.0% per year).

In value terms, Germany ($X) emerged as the key foreign market for ball bearings exports from Pakistan, comprising 54% of total exports. The second position in the ranking was held by Saudi Arabia ($X), with a 27% share of total exports. It was followed by Canada, with an 8.6% share.

From 2012 to 2021, the average annual growth rate of value to Germany totaled +60.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (-16.9% per year) and Canada (0.0% per year).

Export Prices by Country

The average ball bearing export price stood at $X per ton in 2021, shrinking by -41.3% against the previous year. In general, the export price, however, enjoyed a measured increase. The most prominent rate of growth was recorded in 2018 an increase of 206% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2019 to 2021, the average export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Saudi Arabia ($X per ton), while the average price for exports to the United Arab Emirates ($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 UK (+40.7%), while the prices for the other major destinations experienced more modest paces of growth.

Ball Bearing Imports

Imports into Pakistan

After three years of decline, supplies from abroad of ball bearings increased by 66% to X tons in 2021. Over the period under review, imports posted prominent growth. Imports peaked at X tons in 2017; afterwards, it flattened through to 2021.

In value terms, ball bearing imports skyrocketed to $X in 2021. Overall, total imports indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +7.1% over the last nine years. 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

China (X tons), the United Arab Emirates (X tons) and Japan (X tons) were the main suppliers of ball bearing imports to Pakistan, together comprising 85% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +18.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of ball bearings to Pakistan, comprising 54% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a 15% share of total imports. It was followed by Japan, with a 14% share.

From 2012 to 2021, the average annual growth rate of value from China amounted to +12.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+4.3% per year) and Japan (+3.7% per year).

Import Prices by Country

In 2021, the average ball bearing import price amounted to $X per ton, falling by -10.5% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of 12% against the previous year. As a result, import price reached the peak level of $X per ton, and then reduced in the following year.

Prices varied noticeably country of origin: 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 (+6.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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