Uzbekistan: Needle Roller Bearing Market 2024

Needle Roller Bearing Market Size in Uzbekistan

In 2021, the Uzbek needle roller bearing market decreased by -1.4% to $X for the first time since 2016, thus ending a four-year rising trend. Over the period under review, the total consumption indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +5.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +20.1% against 2015 indices. Over the period under review, the market hit record highs at $X in 2020, and then reduced modestly in the following year.

Needle Roller Bearing Production in Uzbekistan

In value terms, needle roller bearing production contracted to $X in 2021 estimated in export price. In general, production posted a buoyant expansion. The pace of growth was the most pronounced in 2015 when the production volume increased by 102%. Needle roller bearing production peaked at $X in 2020, and then declined modestly in the following year.

Needle Roller Bearing Exports

Exports from Uzbekistan

In 2021, shipments abroad of needle roller bearings increased by 120% to X kg, rising for the fourth year in a row after five years of decline. Over the period under review, exports, however, recorded a abrupt decrease. The most prominent rate of growth was recorded in 2018 with an increase of 300%. The exports peaked at X kg in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, needle roller bearing exports surged to $X in 2021. Overall, exports, however, recorded a abrupt curtailment. The pace of growth appeared the most rapid in 2018 with an increase of 285% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Ukraine (X kg) was the main destination for needle roller bearing exports from Uzbekistan, accounting for a 73% share of total exports. Moreover, needle roller bearing exports to Ukraine exceeded the volume sent to the second major destination, Kazakhstan (X kg), fourfold.

From 2012 to 2021, the average annual growth rate of volume to Ukraine totaled +16.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kazakhstan (0.0% per year) and Turkey (0.0% per year).

In value terms, Ukraine ($X) remains the key foreign market for needle roller bearing exports from Uzbekistan, comprising 87% of total exports. The second position in the ranking was taken by Kazakhstan ($X), with a 7.6% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Ukraine stood at +16.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kazakhstan (0.0% per year) and Turkey (0.0% per year).

Export Prices by Country

In 2021, the average needle roller bearing export price amounted to $X per ton, reducing by -36.3% against the previous year. Over the period under review, the export price, however, continues to indicate temperate growth. The growth pace was the most rapid in 2013 an increase of 72%. Over the period under review, the average export prices reached the maximum at $X per ton in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Ukraine ($X per ton), while the average price for exports to Turkey ($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 Ukraine (-0.4%).

Needle Roller Bearing Imports

Imports into Uzbekistan

After two years of decline, purchases abroad of needle roller bearings increased by 70% to X tons in 2021. In general, total imports indicated a buoyant expansion from 2017 to 2021: its volume increased at an average annual rate of +11.9% over the last four-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, needle roller bearing imports soared to $X in 2021. Over the period under review, total imports indicated a buoyant increase from 2017 to 2021: its value increased at an average annual rate of +15.4% over the last four-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +34.2% against 2018 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Germany (X tons), the United States (X tons) and India (X tons) were the main suppliers of needle roller bearing imports to Uzbekistan, with a combined 60% share of total imports. These countries were followed by Russia, South Korea, Hong Kong SAR, Singapore, Turkey, Italy, Switzerland, Sudan and Japan, which together accounted for a further 35%.

From 2017 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Switzerland (with a CAGR of +122.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest needle roller bearing suppliers to Uzbekistan were Germany ($X), the United States ($X) and India ($X), with a combined 60% share of total imports. Russia, South Korea, Singapore, Hong Kong SAR, Turkey, Italy, Switzerland, Sudan and Japan lagged somewhat behind, together accounting for a further 35%.

Switzerland, with a CAGR of +126.4%, recorded 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

The average needle roller bearing import price stood at $X per ton in 2021, stabilizing at the previous year. Over the period from 2017 to 2021, it increased at an average annual rate of +3.2%. The most prominent rate of growth was recorded in 2020 when the average import price increased by 11% against the previous year. Over the period under review, average import prices attained the maximum in 2021 and is expected to retain growth in the near future.

Average prices varied noticeably amongst the major supplying countries. In 2021, the countries with the highest prices were Japan ($X per ton) and Italy ($X per ton), while the price for Hong Kong SAR ($X per ton) and the United States ($X per ton) were amongst the lowest.

From 2017 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+3.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :