Report Update Nov 1, 2024

Sri Lanka - Ball Bearings - Market Analysis, Forecast, Size, Trends and Insights

Single report

Sent by email within 24h (Mon-Fri)

$599 Basic Edition

$2095 Professional Edition

What's the difference?

Subscription

Online access and download

from $350/month

Get instant access to more than 2 million reports, dashboards, and datasets on the IndexBox Platform.

View Pricing

Sri Lanka: Ball Bearing Market 2024

Ball Bearing Market Size in Sri Lanka

The Sri Lankan ball bearing market skyrocketed to $X in 2021, rising by 36% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption showed a relatively flat trend pattern. Ball bearing consumption peaked at $X in 2015; however, from 2016 to 2021, consumption failed to regain momentum.

Ball Bearing Exports

Exports from Sri Lanka

In 2021, approx. X kg of ball bearings were exported from Sri Lanka; shrinking by -71.1% on 2020 figures. Over the period under review, exports continue to indicate a deep setback. The most prominent rate of growth was recorded in 2014 with an increase of 4,254% against the previous year. The exports peaked at X tons in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

In value terms, ball bearing exports reduced dramatically to $X in 2021. Overall, exports showed a deep reduction. The pace of growth appeared the most rapid in 2014 with an increase of 3,310% against the previous year. Over the period under review, the exports reached the maximum at $X in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

Exports by Country

Oman (X kg) was the main destination for ball bearing exports from Sri Lanka, accounting for a 67% share of total exports. Moreover, ball bearing exports to Oman exceeded the volume sent to the second major destination, Maldives (X kg), sixfold. The third position in this ranking was held by the United States (X kg), with a 4.7% share.

From 2012 to 2021, the average annual growth rate of volume to Oman stood at +60.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Maldives (+40.0% per year) and the United States (+32.4% per year).

In value terms, Oman ($X), Maldives ($X) and the UK ($X) were the largest markets for ball bearing exported from Sri Lanka worldwide, with a combined 50% share of total exports.

In terms of the main countries of destination, Oman, with a CAGR of +68.7%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average ball bearing export price stood at $X per ton in 2021, picking up by 24% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +4.0%. The growth pace was the most rapid in 2013 when the average export price increased by 42%. The export price peaked in 2021 and is expected to retain growth in the near future.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was the UK ($X per ton), while the average price for exports to Oman ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to India (+13.9%), while the prices for the other major destinations experienced more modest paces of growth.

Ball Bearing Imports

Imports into Sri Lanka

In 2021, overseas purchases of ball bearings increased by 33% to X tons for the first time since 2016, thus ending a four-year declining trend. Over the period under review, imports showed a relatively flat trend pattern. Imports peaked at X tons in 2016; however, from 2017 to 2021, imports stood at a somewhat lower figure.

In value terms, ball bearing imports skyrocketed to $X in 2021. Overall, imports recorded a relatively flat trend pattern. Over the period under review, imports reached the maximum at $X in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Japan (X tons), China (X tons) and India (X tons) were the main suppliers of ball bearing imports to Sri Lanka, with a combined 81% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Japan (with a CAGR of +15.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest ball bearing suppliers to Sri Lanka were Japan ($X), China ($X) and India ($X), with a combined 81% share of total imports. Singapore, Germany, Thailand, the United Arab Emirates and Indonesia lagged somewhat behind, together comprising a further 9.2%.

Indonesia, with a CAGR of +240.4%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average ball bearing import price amounted to $X per ton, surging by 2% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the average import price increased by 12% against the previous year. The import price peaked at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2021, the highest price was recorded for prices from the United Arab Emirates ($X per ton) and Thailand ($X per ton), while the price for Singapore ($X per ton) and Germany ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+0.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for ball bearings in the world?

China constituted the country with the largest volume of ball bearing consumption, accounting for 30% of total volume. Moreover, ball bearing consumption in China exceeded the figures recorded by the second-largest consumer, India, threefold. The United States ranked third in terms of total consumption with an 8.5% share.

What are the largest producers of ball bearings in the world?

The country with the largest volume of ball bearing production was China, accounting for 36% of total volume. Moreover, ball bearing production in China exceeded the figures recorded by the second-largest producer, India, threefold. The third position in this ranking was occupied by Japan, with a 10% share.

What are the leading suppliers of ball bearings to Sri Lanka?

In value terms, the largest ball bearing suppliers to Sri Lanka were China, Japan and India, with a combined 72% share of total imports. Germany, the United States, Singapore, Indonesia, South Korea, Poland and Italy lagged somewhat behind, together comprising a further 20%.

What are the leading importers of ball bearings from Sri Lanka?

It was followed by Maldives, with a 6.6% share.

What is the average export price for ball bearings in Sri Lanka?

In 2020, the average ball bearing export price amounted to $14,682 per ton, remaining constant against the previous year.

What is the average import price for ball bearings in Sri Lanka?

In 2020, the average ball bearing import price amounted to $21,436 per ton, growing by 12% against the previous year.

This report provides an in-depth analysis of the ball bearing market in Sri Lanka. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 28151030 - Ball bearings

Country coverage:

Sri Lanka

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Sri Lanka
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023