Southern Asia: Roller Bearing Market 2022

Roller Bearing Market Size in Southern Asia

After four years of growth, the South Asian roller bearing market decreased by -8.4% to $X in 2021. Over the period under review, consumption posted a strong expansion. Over the period under review, the market reached the peak level at $X in 2020, and then fell in the following year.

Roller Bearing Production in Southern Asia

In value terms, roller bearing production dropped to $X in 2021 estimated in export price. In general, production enjoyed buoyant growth. The pace of growth was the most pronounced in 2017 when the production volume increased by 45% against the previous year. Over the period under review, production reached the peak level at $X in 2020, and then fell in the following year.

Roller Bearing Exports

Exports in Southern Asia

In 2021, after six years of decline, there was significant growth in overseas shipments of roller bearings, when their volume increased by 62% to X tons. In general, exports, however, showed a pronounced decrease. Over the period under review, the exports hit record highs at X tons in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

In value terms, roller bearing exports skyrocketed to $X in 2021. Over the period under review, exports continue to indicate a relatively flat trend pattern. The level of export peaked at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The biggest shipments were from India (X tons), together finishing at 100% of total export.

India was also the fastest-growing in terms of the roller bearings exports, with a CAGR of -3.6% from 2012 to 2021. From 2012 to 2021, the share of India increased by +2.2 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

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

From 2012 to 2021, the average annual growth rate of value in India was relatively modest.

Export Prices by Country

In 2021, the export price in Southern Asia amounted to $X per ton, waning by -12.2% against the previous year. Export price indicated a moderate increase from 2012 to 2021: its price increased at an average annual rate of +4.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, roller bearing export price increased by +70.4% against 2016 indices. The pace of growth appeared the most rapid in 2020 when the export price increased by 30% against the previous year. As a result, the export price reached the peak level of $X per ton, and then declined in the following year.

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

From 2012 to 2021, the rate of growth in terms of prices for India amounted to +4.5% per year.

Roller Bearing Imports

Imports in Southern Asia

In 2021, the amount of roller bearings imported in Southern Asia reached X tons, surging by 13% compared with 2020 figures. Over the period under review, imports saw a slight increase. The pace of growth was the most pronounced in 2019 with an increase of 103% against the previous year. The volume of import peaked in 2021 and is expected to retain growth in the immediate term.

In value terms, roller bearing imports surged to $X in 2021. In general, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of 119%. The level of import peaked at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

India prevails in imports structure, accounting for X tons, which was near 88% of total imports in 2021. It was distantly followed by Sri Lanka (X tons), achieving a 5.7% share of total imports. The following importers - Bangladesh (X tons) and Pakistan (X tons) - together made up 5% of total imports.

India experienced a relatively flat trend pattern with regard to volume of imports of roller bearings. At the same time, Bangladesh (+29.4%) and Sri Lanka (+6.6%) displayed positive paces of growth. Moreover, Bangladesh emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of +29.4% from 2012-2021. By contrast, Pakistan (-5.9%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Bangladesh and Sri Lanka increased by +2.4 and +2.2 percentage points, respectively.

In value terms, India ($X) constitutes the largest market for imported roller bearings in Southern Asia, comprising 89% of total imports. The second position in the ranking was taken by Sri Lanka ($X), with a 5.8% share of total imports. It was followed by Pakistan, with a 2.4% share.

In India, roller bearing imports remained relatively stable over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Sri Lanka (+5.8% per year) and Pakistan (-7.2% per year).

Import Prices by Country

The import price in Southern Asia stood at $X per ton in 2021, picking up by 24% against the previous year. Over the period under review, the import price, however, recorded a slight downturn. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Sri Lanka ($X per ton), while Bangladesh ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sri Lanka (-0.8%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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