Report Update Nov 1, 2024

Sri Lanka - Balls, Needles and Rollers for Ball or Roller Bearings - Market Analysis, Forecast, Size, Trends and Insights

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Sri Lanka: Tools For Bearing Market 2024

Tools For Bearing Market Size in Sri Lanka

In 2022, the Sri Lankan tools for bearing market decreased by -44.4% to $X, falling for the second consecutive year after four years of growth. In general, consumption continues to indicate a perceptible decline. Over the period under review, the market attained the peak level at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Tools For Bearing Exports

Exports from Sri Lanka

In 2022, overseas shipments of balls, needles and rollers for ball or roller bearings decreased by -98.1% to X kg, falling for the fourth consecutive year after two years of growth. In general, exports recorded a dramatic decrease. The pace of growth was the most pronounced in 2015 when exports increased by 499% against the previous year. As a result, the exports reached the peak of X kg. From 2016 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, tools for bearing exports contracted sharply to $X in 2022. Overall, exports showed a dramatic curtailment. The most prominent rate of growth was recorded in 2015 when exports increased by 1,236%. As a result, the exports reached the peak of $X. From 2016 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Maldives (X kg) was the main destination for tools for bearing exports from Sri Lanka, with a approx. 100% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to Maldives totaled -38.5%.

In value terms, Maldives ($X) also remains the key foreign market for balls, needles and rollers for ball or roller bearings exports from Sri Lanka.

From 2012 to 2022, the average annual rate of growth in terms of value to Maldives amounted to -29.9%.

Export Prices by Country

In 2022, the average tools for bearing export price amounted to $X per ton, jumping by 960% against the previous year. Over the period under review, the export price recorded a buoyant increase. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the rate of growth in terms of prices for Maldives amounted to +14.1% per year.

Tools For Bearing Imports

Imports into Sri Lanka

In 2022, purchases abroad of balls, needles and rollers for ball or roller bearings decreased by -41.4% to X tons, falling for the second year in a row after four years of growth. Overall, imports saw a deep downturn. The pace of growth was the most pronounced in 2020 with an increase of 64%. As a result, imports attained the peak of X tons. From 2021 to 2022, the growth of imports remained at a lower figure.

In value terms, tools for bearing imports shrank notably to $X in 2022. Over the period under review, imports showed a perceptible descent. The growth pace was the most rapid in 2015 with an increase of 68%. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

China (X tons), India (X tons) and Hong Kong SAR (X kg) were the main suppliers of tools for bearing imports to Sri Lanka, together accounting for 98% of total imports.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +3.3%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, the largest tools for bearing suppliers to Sri Lanka were India ($X), China ($X) and Hong Kong SAR ($X), together accounting for 79% of total imports.

Among the main suppliers, Hong Kong SAR, with a CAGR of 0.0%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average tools for bearing import price stood at $X per ton in 2022, dropping by -8.5% against the previous year. Over the period under review, import price indicated a noticeable expansion from 2012 to 2022: its price increased at an average annual rate of +2.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, tools for bearing import price decreased by +0.6% against 2020 indices. The pace of growth was the most pronounced in 2019 an increase of 51%. As a result, import price attained the peak level of $X per ton. From 2020 to 2022, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Hong Kong SAR ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+5.1%).

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for balls, needles and rollers for ball or roller bearings in the world?

The countries with the highest volumes of in 2021 were China, the United States and India, with a combined 46% share of global consumption. These countries were followed by Japan, Russia, Indonesia, Brazil, France, Germany, Canada, South Korea, Saudi Arabia and Thailand, which together accounted for a further 35%.

What are the largest producers of balls, needles and rollers for ball or roller bearings in the world?

The country with the largest volume of tools for bearing production was China, comprising approx. 30% of total volume. Moreover, tools for bearing production in China exceeded the figures recorded by the second-largest producer, the United States, twofold. India ranked third in terms of total production with an 8.7% share.

What are the leading suppliers of balls, needles and rollers for ball or roller bearings to Sri Lanka?

In value terms, India constituted the largest supplier of tools for bearing to Sri Lanka, comprising 61% of total imports. The second position in the ranking was occupied by China, with an 11% share of total imports. It was followed by Canada, with an 8.2% share.

What are the leading importers of balls, needles and rollers for ball or roller bearings from Sri Lanka?

In value terms, the largest markets for tools for bearing exported from Sri Lanka were India $451) and Maldives $417).

What is the average export price for balls, needles and rollers for ball or roller bearings in Sri Lanka?

In 2021, the average tools for bearing export price amounted to $17,747 per ton, growing by 86% against the previous year.

What is the average import price for balls, needles and rollers for ball or roller bearings in Sri Lanka?

In 2021, the average tools for bearing import price amounted to $4,762 per ton, rising by 28% against the previous year.

This report provides an in-depth analysis of the tools for 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 28153130 - Balls, needles and rollers for ball or roller 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