Southern Asia: Needle Roller Bearing Market 2024

Needle Roller Bearing Market Size in Southern Asia

The South Asian needle roller bearing market dropped slightly to $X in 2022, with a decrease of -2.1% against the previous year. The market value increased at an average annual rate of +1.2% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Needle Roller Bearing Production in Southern Asia

In value terms, needle roller bearing production fell to $X in 2022 estimated in export price. Overall, production, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 with an increase of 15% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Needle Roller Bearing Exports

Exports in Southern Asia

In 2022, exports of needle roller bearings in Southern Asia soared to X tons, picking up by 57% compared with the previous year's figure. Overall, exports enjoyed prominent growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, needle roller bearing exports skyrocketed to $X in 2022. Total exports indicated a temperate expansion from 2012 to 2022: its value increased at an average annual rate of +2.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +92.7% against 2020 indices. The pace of growth appeared the most rapid in 2021 when exports increased by 47% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are likely to continue growth in the immediate term.

Exports by Country

India (X tons) represented roughly 100% of total exports in 2022.

India was also the fastest-growing in terms of the needle roller bearings exports, with a CAGR of +5.5% 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 needle roller bearing supplier in Southern Asia.

From 2012 to 2022, the average annual growth rate of value in India stood at +2.3%.

Export Prices by Country

The export price in Southern Asia stood at $X per ton in 2022, dropping by -16.6% against the previous year. In general, the export price continues to indicate a noticeable decline. The pace of growth appeared the most rapid in 2018 when the export price increased by 20%. The level of export peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

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 -3.0% per year.

Needle Roller Bearing Imports

Imports in Southern Asia

In 2022, purchases abroad of needle roller bearings increased by 0.2% to X tons, rising for the second consecutive year after two years of decline. In general, imports recorded a resilient increase. The pace of growth was the most pronounced in 2021 when imports increased by 46%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.

In value terms, needle roller bearing imports shrank to $X in 2022. Total imports indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +6.7% 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 +38.0% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 46%. As a result, imports attained the peak of $X, and then shrank in the following year.

Imports by Country

India dominates imports structure, resulting at X tons, which was near 91% of total imports in 2022. It was distantly followed by Pakistan (X tons), constituting a 5.4% share of total imports. Bangladesh (X tons) followed a long way behind the leaders.

India was also the fastest-growing in terms of the needle roller bearings imports, with a CAGR of +8.8% from 2012 to 2022. At the same time, Bangladesh (+6.8%) and Pakistan (+5.2%) displayed positive paces of growth. India (+2.2 p.p.) significantly strengthened its position in terms of the total imports, while Pakistan saw its share reduced by -2% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported needle roller bearings in Southern Asia, comprising 92% of total imports. The second position in the ranking was taken by Pakistan ($X), with a 4.8% share of total imports.

In India, needle roller bearing imports increased at an average annual rate of +6.9% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Pakistan (+4.1% per year) and Bangladesh (+5.9% per year).

Import Prices by Country

In 2022, the import price in Southern Asia amounted to $X per ton, reducing by -5.8% against the previous year. In general, the import price continues to indicate a slight contraction. The pace of growth appeared the most rapid in 2020 when the import price increased by 6.2%. The level of import peaked at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

Average prices varied somewhat amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Bangladesh ($X per ton), while Pakistan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bangladesh (-0.8%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :