Pakistan: Spherical Roller Bearing Market 2024

Spherical Roller Bearing Market Size in Pakistan

In 2021, the Pakistani spherical roller bearing market increased by 45% to $X, rising for the second year in a row after two years of decline. In general, the total consumption indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +5.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +68.4% against 2019 indices. Spherical roller bearing consumption peaked in 2021 and is likely to continue growth in the near future.

Spherical Roller Bearing Exports

Exports from Pakistan

In 2021, spherical roller bearing exports from Pakistan skyrocketed to X tons, rising by 375% against the year before. Over the period under review, exports posted significant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

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

Exports by Country

Tanzania (X kg) was the main destination for spherical roller bearing exports from Pakistan, accounting for a 49% share of total exports. Moreover, spherical roller bearing exports to Tanzania exceeded the volume sent to the second major destination, Bangladesh (X kg), threefold. The third position in this ranking was taken by Ethiopia (X kg), with a 16% share.

From 2012 to 2021, the average annual growth rate of volume to Tanzania amounted to +22.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bangladesh (+83.3% per year) and Ethiopia (+35.2% per year).

In value terms, Tanzania ($X) emerged as the key foreign market for spherical roller bearings exports from Pakistan, comprising 55% of total exports. The second position in the ranking was taken by Bangladesh ($X), with a 21% share of total exports. It was followed by Ethiopia, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Tanzania stood at +36.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bangladesh (+61.6% per year) and Ethiopia (+23.7% per year).

Export Prices by Country

The average spherical roller bearing export price stood at $X per ton in 2021, surging by 5.1% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 an increase of 52%. As a result, the export price attained the peak level of $X per ton. From 2014 to 2021, the average export prices remained at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to Burundi ($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 Tanzania (+11.3%), while the prices for the other major destinations experienced a decline.

Spherical Roller Bearing Imports

Imports into Pakistan

In 2021, purchases abroad of spherical roller bearings increased by 40% to X tons, rising for the second consecutive year after two years of decline. In general, imports saw resilient growth. The pace of growth appeared the most rapid in 2017 with an increase of 97% against the previous year. Imports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, spherical roller bearing imports surged to $X in 2021. Over the period under review, total imports indicated moderate growth from 2012 to 2021: its value increased at an average annual rate of +4.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +69.8% against 2019 indices. The most prominent rate of growth was recorded in 2017 with an increase of 83% against the previous year. Imports peaked in 2021 and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Germany (X tons) constituted the largest spherical roller bearing supplier to Pakistan, with a 37% share of total imports. Moreover, spherical roller bearing imports from Germany exceeded the figures recorded by the second-largest supplier, China (X tons), twofold. Russia (X tons) ranked third in terms of total imports with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Germany totaled +12.4%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+7.7% per year) and Russia (+41.9% per year).

In value terms, Germany ($X) constituted the largest supplier of spherical roller bearings to Pakistan, comprising 36% of total imports. The second position in the ranking was taken by China ($X), with a 16% share of total imports. It was followed by Russia, with a 14% share.

From 2012 to 2021, the average annual growth rate of value from Germany amounted to +6.7%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-0.2% per year) and Russia (+39.4% per year).

Import Prices by Country

In 2021, the average spherical roller bearing import price amounted to $X per ton, increasing by 4.8% against the previous year. In general, the import price, however, continues to indicate a pronounced setback. The growth pace was the most rapid in 2019 when the average import price increased by 5.6% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2021, the countries with the highest prices were Russia ($X per ton) and Malaysia ($X per ton), while the price for China ($X per ton) and the UK ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Russia (-1.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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