Southern Asia: Tapered Roller Bearing Market 2024

Tapered Roller Bearing Market Size in Southern Asia

In 2022, the South Asian tapered roller bearing market decreased by -4.3% to $X, falling for the fourth consecutive year after two years of growth. The market value increased at an average annual rate of +1.5% from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Tapered Roller Bearing Production in Southern Asia

In value terms, tapered roller bearing production shrank modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.8% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The growth pace was the most rapid in 2013 with an increase of 18% against the previous year. The level of production peaked at $X in 2019; afterwards, it flattened through to 2022.

Tapered Roller Bearing Exports

Exports in Southern Asia

In 2022, approx. X tons of tapered roller bearings were exported in Southern Asia; with an increase of 31% compared with the previous year's figure. Overall, exports posted strong growth. The pace of growth was the most pronounced in 2021 with an increase of 63%. Over the period under review, the exports reached the peak figure in 2022 and are likely to continue growth in the immediate term.

In value terms, tapered roller bearing exports amounted to $X in 2022. Over the period under review, exports recorded buoyant growth. The most prominent rate of growth was recorded in 2021 with an increase of 65%. The level of export peaked in 2022 and is likely to see gradual growth in the immediate term.

Exports by Country

The biggest shipments were from India (X tons), together recording 99.9% of total export.

India was also the fastest-growing in terms of the tapered roller bearings exports, with a CAGR of +15.2% 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 tapered roller bearing supplier in Southern Asia.

In India, tapered roller bearing exports increased at an average annual rate of +12.2% over the period from 2012-2022.

Export Prices by Country

The export price in Southern Asia stood at $X per ton in 2022, falling by -13.7% against the previous year. Overall, the export price showed a noticeable downturn. The pace of growth was the most pronounced in 2013 an increase of 9.1%. The level of export peaked at $X per ton in 2014; however, from 2015 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 -2.6% per year.

Tapered Roller Bearing Imports

Imports in Southern Asia

In 2022, supplies from abroad of tapered roller bearings increased by 11% to X tons, rising for the second year in a row after two years of decline. Overall, imports continue to indicate a notable increase. The pace of growth appeared the most rapid in 2021 with an increase of 75%. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, tapered roller bearing imports shrank modestly to $X in 2022. Over the period under review, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 77% against the previous year. The level of import peaked at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

India prevails in imports structure, reaching X tons, which was approx. 87% of total imports in 2022. It was distantly followed by Bangladesh (X tons), constituting a 4.9% share of total imports. The following importers - Afghanistan (X tons) and Pakistan (X tons) - each reached a 6.2% share of total imports.

Imports into India increased at an average annual rate of +4.2% from 2012 to 2022. At the same time, Afghanistan (+24.7%) and Bangladesh (+19.4%) displayed positive paces of growth. Moreover, Afghanistan emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of +24.7% from 2012-2022. Pakistan experienced a relatively flat trend pattern. From 2012 to 2022, the share of Bangladesh and Afghanistan increased by +3.6 and +2.7 percentage points, respectively.

In value terms, India ($X) constitutes the largest market for imported tapered roller bearings in Southern Asia, comprising 90% of total imports. The second position in the ranking was held by Pakistan ($X), with a 3.2% share of total imports. It was followed by Bangladesh, with a 2.6% share.

From 2012 to 2022, the average annual growth rate of value in India was relatively modest. In the other countries, the average annual rates were as follows: Pakistan (-3.5% per year) and Bangladesh (+7.5% per year).

Import Prices by Country

The import price in Southern Asia stood at $X per ton in 2022, falling by -11.2% against the previous year. Over the period under review, the import price showed a perceptible reduction. The pace of growth was the most pronounced in 2021 when the import price increased by 1.2%. Over the period under review, import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Pakistan ($X per ton), while Bangladesh ($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 (-2.6%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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