Southern Asia: Spherical Roller Bearing Market 2024

Spherical Roller Bearing Market Size in Southern Asia

The South Asian spherical roller bearing market rose remarkably to $X in 2021, growing by 8.2% against the previous year. The total consumption indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +5.4% 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 +44.0% against 2016 indices. The level of consumption peaked in 2021 and is expected to retain growth in years to come.

Spherical Roller Bearing Production in Southern Asia

In value terms, spherical roller bearing production contracted to $X in 2021 estimated in export price. The total production indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +5.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +51.5% against 2017 indices. The growth pace was the most rapid in 2019 with an increase of 30% against the previous year. The level of production peaked at $X in 2020, and then shrank in the following year.

Spherical Roller Bearing Exports

Exports in Southern Asia

In 2021, overseas shipments of spherical roller bearings increased by 19% to X tons, rising for the fifth consecutive year after four years of decline. Over the period under review, exports continue to indicate a noticeable expansion. The pace of growth was the most pronounced in 2017 when exports increased by 51%. The volume of export peaked in 2021 and is likely to continue growth in the near future.

In value terms, spherical roller bearing exports skyrocketed to $X in 2021. Overall, exports recorded a perceptible expansion. The growth pace was the most rapid in 2017 with an increase of 42% against the previous year. Over the period under review, the exports reached the peak figure in 2021 and are expected to retain growth in the immediate term.

Exports by Country

India (X tons) represented roughly 100% of total exports in 2021.

India was also the fastest-growing in terms of the spherical roller bearings exports, with a CAGR of +3.0% from 2012 to 2021. The shares of the largest exporters remained relatively stable throughout the analyzed period.

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

In India, spherical roller bearing exports increased at an average annual rate of +3.0% over the period from 2012-2021.

Export Prices by Country

The export price in Southern Asia stood at $X per ton in 2021, rising by 7.6% against the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when the export price increased by 7.8% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2014 to 2021, the export prices remained at a lower figure.

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 -0.1% per year.

Spherical Roller Bearing Imports

Imports in Southern Asia

In 2021, after two years of decline, there was significant growth in supplies from abroad of spherical roller bearings, when their volume increased by 57% to X tons. Over the period under review, imports showed a buoyant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, spherical roller bearing imports skyrocketed to $X in 2021. Total imports indicated pronounced growth from 2012 to 2021: its value increased at an average annual rate of +4.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

India prevails in imports structure, reaching X tons, which was near 90% of total imports in 2021. The following importers - Bangladesh (X tons) and Pakistan (X tons) - each amounted to an 8% share of total imports.

From 2012 to 2021, average annual rates of growth with regard to spherical roller bearing imports into India stood at +5.8%. At the same time, Bangladesh (+22.4%) and Pakistan (+8.9%) displayed positive paces of growth. Moreover, Bangladesh emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of +22.4% from 2012-2021. While the share of Bangladesh (+3 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of India (-5 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported spherical roller bearings in Southern Asia, comprising 93% of total imports. The second position in the ranking was held by Pakistan ($X), with a 3.8% share of total imports.

In India, spherical roller bearing imports expanded at an average annual rate of +4.1% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Pakistan (+4.7% per year) and Bangladesh (+7.5% per year).

Import Prices by Country

In 2021, the import price in Southern Asia amounted to $X per ton, picking up by 4% against the previous year. Overall, the import price, however, showed a perceptible contraction. The level of import peaked at $X per ton in 2015; however, from 2016 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was India ($X per ton), while Bangladesh ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (-1.6%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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