Sri Lanka: Cylindrical Roller Bearing Market 2024

Cylindrical Roller Bearing Market Size in Sri Lanka

In 2022, the Sri Lankan cylindrical roller bearing market decreased by -40.3% to $X for the first time since 2019, thus ending a two-year rising trend. In general, consumption saw a noticeable downturn. Sri Lanka consumption peaked at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Cylindrical Roller Bearing Exports

Exports from Sri Lanka

In 2022, shipments abroad of cylindrical roller bearings decreased by -19.8% to X kg for the first time since 2019, thus ending a two-year rising trend. Overall, exports, however, recorded significant growth. The most prominent rate of growth was recorded in 2020 with an increase of 354%. Over the period under review, the exports attained the maximum at X kg in 2021, and then fell notably in the following year.

In value terms, cylindrical roller bearing exports contracted rapidly to $X in 2022. In general, exports, however, recorded a significant increase. The growth pace was the most rapid in 2021 when exports increased by 214%. As a result, the exports reached the peak of $X, and then declined dramatically in the following year.

Exports by Country

The biggest shipments were from Germany (X tons), China (X tons) and Japan (X tons), together amounting to 53% of total export. Romania (X tons) took a 7.7% share (based on physical terms) of total exports, which put it in second place, followed by Slovakia (5.6%). Taiwan (Chinese) (X tons), Kazakhstan (X tons), Canada (X tons), Russia (X tons), Hong Kong SAR (X tons), Poland (X tons), France (X tons) and Italy (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Taiwan (Chinese) (with a CAGR of +43.8%), while the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) remains the largest cylindrical roller bearing supplier from Sri Lanka, comprising 27% of global exports. The second position in the ranking was taken by Japan ($X), with an 11% share of global exports. It was followed by China, with an 8.9% share.

In Germany, cylindrical roller bearing exports remained relatively stable over the period from 2012-2022. In the other countries, the average annual rates were as follows: Japan (-0.3% per year) and China (+6.6% per year).

Export Prices by Country

In 2022, the export price in Sri Lanka amounted to $X per ton, shrinking by -17.8% against the previous year. In general, the export price recorded a mild contraction. The pace of growth was the most pronounced in 2017 an increase of 40% against the previous year. Over the period under review, the export prices reached the maximum at $X per ton in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was France ($X per ton), while Russia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+3.3%), while the other leaders experienced more modest paces of growth.

Cylindrical Roller Bearing Imports

Imports into Sri Lanka

In 2022, approx. X tons of cylindrical roller bearings were imported into Sri Lanka; with a decrease of -41.9% compared with the previous year's figure. Overall, imports continue to indicate a perceptible descent. The most prominent rate of growth was recorded in 2016 with an increase of 60%. Over the period under review, imports reached the maximum at X tons in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, cylindrical roller bearing imports declined markedly to $X in 2022. Over the period under review, imports continue to indicate a perceptible contraction. The growth pace was the most rapid in 2016 with an increase of 43% against the previous year. Sri Lanka imports peaked at $X in 2017; however, from 2018 to 2022, imports remained at a lower figure.

Imports by Country

The purchases of the three major importers of cylindrical roller bearings, namely China, Russia and Germany, represented more than third of total import. It was distantly followed by the United States (X tons), comprising a 5.7% share of total imports. Spain (X tons), Mexico (X tons), Italy (X tons), Brazil (X tons), Thailand (X tons), South Korea (X tons), Indonesia (X tons), Turkey (X tons) and the Czech Republic (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Thailand (with a CAGR of +20.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest cylindrical roller bearing importing markets into Sri Lanka were China ($X), Germany ($X) and the United States ($X), with a combined 43% share of total imports. Mexico, Italy, Brazil, Russia, South Korea, Spain, Indonesia, Turkey, the Czech Republic and Thailand lagged somewhat behind, together comprising a further 23%.

Spain, with a CAGR of +13.7%, saw the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Sri Lanka amounted to $X per ton, growing by 4% against the previous year. In general, the import price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 an increase of 33%. As a result, import price reached the peak level of $X per ton. From 2019 to 2022, the import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while Russia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+2.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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