India: Bearing Market 2024

Bearing Market Size in India

The Indian bearing market dropped markedly to $X in 2022, waning by X% against the previous year. In general, consumption continues to indicate a pronounced decline. Bearing consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Bearing Production in India

In value terms, bearing production fell slightly to $X in 2022 estimated in export price. Overall, production continues to indicate a abrupt downturn. The most prominent rate of growth was recorded in 2013 when the production volume increased by X%. As a result, production attained the peak level of $X. From 2014 to 2022, production growth remained at a somewhat lower figure.

Bearing Exports

Exports from India

In 2022, bearing exports from India skyrocketed to X tons, jumping by X% against the previous year's figure. Overall, exports posted a resilient increase. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. The exports peaked in 2022 and are likely to see steady growth in the near future.

In value terms, bearing exports soared to $X in 2022. Over the period under review, exports enjoyed a remarkable increase. The most prominent rate of growth was recorded in 2021 when exports increased by X%. Over the period under review, the exports hit record highs in 2022 and are likely to see gradual growth in the immediate term.

Exports by Country

The United States (X tons), Germany (X tons) and the United Arab Emirates (X tons) were the main destinations of bearing exports from India, with a combined X% share of total exports. France, China, Brazil, Turkey, Singapore, Mexico, Belgium, Japan, Russia and Thailand lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by France (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Germany ($X) and China ($X) constituted the largest markets for bearing exported from India worldwide, with a combined X% share of total exports. France, Brazil, the United Arab Emirates, Singapore, Mexico, Turkey, Belgium, Japan, Russia and Thailand lagged somewhat behind, together accounting for a further X%.

France, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average bearing export price stood at $X per ton in 2022, which is down by X% against the previous year. Overall, the export price saw a mild decline. The pace of growth appeared the most rapid in 2013 an increase of X% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2014 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (X%), while the prices for the other major destinations experienced a decline.

Bearing Imports

Imports into India

In 2022, purchases abroad of ball or roller bearings increased by X% to X tons, rising for the second year in a row after two years of decline. Over the period under review, total imports indicated measured growth from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, bearing imports shrank to $X in 2022. Overall, total imports indicated a measured expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by X%. As a result, imports reached the peak of $X, leveling off in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of bearing to India, accounting for a X% share of total imports. Moreover, bearing imports from China exceeded the figures recorded by the second-largest supplier, Germany (X tons), twofold. Japan (X tons) ranked third in terms of total imports with an X% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (X% per year) and Japan (X% per year).

In value terms, China ($X) constituted the largest supplier of ball or roller bearings to India, comprising X% of total imports. The second position in the ranking was held by Germany ($X), with an X% share of total imports. It was followed by Japan, with a X% share.

From 2012 to 2022, the average annual growth rate of value from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (X% per year) and Japan (X% per year).

Import Prices by Country

In 2022, the average bearing import price amounted to $X per ton, waning by X% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 an increase of X%. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

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 Thailand ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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