Southern Asia: Bearing Market 2024

Bearing Market Size in Southern Asia

In 2022, the South Asian bearing market increased by X% to $X, rising for the second consecutive year after two years of decline. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern 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.

Bearing Production in Southern Asia

In value terms, bearing production dropped to $X in 2022 estimated in export price. In general, production saw a deep setback. The pace of growth was the most pronounced in 2013 when the production volume increased by X%. As a result, production reached the peak level of $X. From 2014 to 2022, production growth remained at a somewhat lower figure.

Bearing Exports

Exports in Southern Asia

In 2022, approx. X tons of ball or roller bearings were exported in Southern Asia; increasing by X% on the previous year's figure. Over the period under review, exports continue to indicate a buoyant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, bearing exports surged to $X in 2022. Overall, exports showed a prominent expansion. The growth pace was the most rapid in 2021 when exports increased by X%. The level of export peaked in 2022 and is likely to continue growth in years to come.

Exports by Country

In 2022, India (X tons) was the key exporter of ball or roller bearings in Southern Asia, achieving X% of total export.

India was also the fastest-growing in terms of the ball or roller bearings exports, with a CAGR of X% from 2012 to 2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, India ($X) also remains the largest bearing supplier in Southern Asia.

In India, bearing exports increased at an average annual rate of X% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in Southern Asia amounted to $X per ton, reducing by X% against the previous year. In general, the export price showed a perceptible descent. The pace of growth appeared the most rapid in 2013 an increase of X%. As a result, the export price attained the peak level of $X per ton. From 2014 to 2022, the export prices remained at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for India.

From 2012 to 2022, the rate of growth in terms of prices for India amounted to X% per year.

Bearing Imports

Imports in Southern Asia

In 2022, overseas purchases of ball or roller bearings increased by X% to X tons, rising for the second year in a row after two years of decline. In general, imports recorded a buoyant increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, bearing imports amounted to $X in 2022. Total imports indicated notable growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2021 when imports increased by X%. Over the period under review, imports attained the maximum in 2022 and are likely to see steady growth in the near future.

Imports by Country

India dominates imports structure, reaching X tons, which was near X% of total imports in 2022. It was distantly followed by Bangladesh (X tons), making up a X% share of total imports. The following importers - Pakistan (X tons) and Afghanistan (X tons) - each accounted for a X% share of total imports.

Imports into India increased at an average annual rate of X% from 2012 to 2022. At the same time, Afghanistan (X%), Bangladesh (X%) and Pakistan (X%) displayed positive paces of growth. Moreover, Afghanistan emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of X% from 2012-2022. While the share of Bangladesh (X p.p.), Afghanistan (X p.p.) and India (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Pakistan (X p.p.) displayed negative dynamics.

In value terms, India ($X) constitutes the largest market for imported ball or roller bearings in Southern Asia, comprising X% of total imports. The second position in the ranking was held by Pakistan ($X), with a X% share of total imports. It was followed by Bangladesh, with a X% share.

From 2012 to 2022, the average annual growth rate of value in India amounted to X%. The remaining importing countries recorded the following average annual rates of imports growth: Pakistan (X% per year) and Bangladesh (X% per year).

Import Prices by Country

In 2022, the import price in Southern Asia amounted to $X per ton, declining by X% against the previous year. In general, the import price saw a deep slump. The most prominent rate of growth was recorded in 2020 an increase of X% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Pakistan ($X per ton), while Afghanistan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Pakistan (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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