India: Spherical Roller Bearing Market 2024

Spherical Roller Bearing Market Size in India

The Indian spherical roller bearing market expanded rapidly to $X in 2022, growing by X% against the previous year. Over the period under review, the total consumption indicated prominent growth 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, consumption increased by X% against 2016 indices. India consumption peaked in 2022 and is likely to see steady growth in the near future.

Spherical Roller Bearing Production in India

In value terms, spherical roller bearing production reached $X in 2022 estimated in export price. Over the period under review, the total production indicated a strong increase 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, production decreased by X% against 2020 indices. The pace of growth was the most pronounced in 2019 when the production volume increased by X% against the previous year. India production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Spherical Roller Bearing Exports

Exports from India

In 2022, shipments abroad of spherical roller bearings increased by X% to X tons, rising for the sixth consecutive year after four years of decline. Overall, exports posted a modest expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, spherical roller bearing exports surged to $X in 2022. Over the period under review, exports saw a buoyant expansion. The pace of growth was the most pronounced in 2017 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the near future.

Exports by Country

In 2022, China (X tons) was the largest exporter of spherical roller bearings, making up X% of total exports. Germany (X tons) took the second position in the ranking, followed by Sweden (X tons), Japan (X tons), Romania (X tons) and Belgium (X tons). All these countries together held near X% share of total exports. The following exporters - Malaysia (X tons), France (X tons), the UK (X tons), Singapore (X tons), Italy (X tons), the United States (X tons) and Belarus (X tons) - together made up X% of total exports.

China was also the fastest-growing in terms of the spherical roller bearings exports, with a CAGR of X% from 2012 to 2022. At the same time, Malaysia (X%), Romania (X%) and France (X%) displayed positive paces of growth. Italy, Japan and Germany experienced a relatively flat trend pattern. By contrast, Sweden (X%), Belgium (X%), the UK (X%), Belarus (X%), Singapore (X%) and the United States (X%) illustrated a downward trend over the same period. While the share of China (X p.p.), Romania (X p.p.) and Malaysia (X p.p.) increased significantly in terms of the global exports from 2012-2022, the share of Japan (X p.p.), Germany (X p.p.), Belarus (X p.p.), Belgium (X p.p.), the United States (X p.p.), Singapore (X p.p.) and Sweden (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Sweden ($X), Germany ($X) and China ($X) appeared to be the countries with the highest levels of exports in 2022, together comprising X% of total exports. Japan, Belgium, the United States, Romania, Malaysia, the UK, France, Singapore, Italy and Belarus lagged somewhat behind, together accounting for a further X%.

Among the main exporting countries, Malaysia, with a CAGR of X%, recorded the highest rates of growth with regard to 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 export price in India stood at $X per ton in 2022, reducing by X% against the previous year. Over the period under review, export price indicated a pronounced increase from 2012 to 2022: its price 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. The most prominent rate of growth was recorded in 2013 when the export price increased by X%. Over the period under review, the export prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

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

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

Spherical Roller Bearing Imports

Imports into India

In 2022, overseas purchases of spherical roller bearings increased by X% to X tons, rising for the second consecutive year after two years of decline. Overall, imports posted a prominent increase. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are likely to see gradual growth in the near future.

In value terms, spherical roller bearing imports stood at $X in 2022. Over the period under review, imports continue to indicate a noticeable expansion. The pace of growth appeared the most rapid in 2021 when imports increased by X% against the previous year. India imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

Belgium (X tons), China (X tons), the United States (X tons), Germany (X tons), Russia (X tons), France (X tons), Brazil (X tons), Denmark (X tons), South Korea (X tons), Thailand (X tons), Turkey (X tons) and Italy (X tons) represented roughly X% of total imports in 2022. Canada (X tons) took a little share of total imports.

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

In value terms, the largest spherical roller bearing importing markets into India were China ($X), the United States ($X) and Belgium ($X), with a combined X% share of total imports. Germany, France, Brazil, Italy, South Korea, Russia, Turkey, Canada, Denmark and Thailand lagged somewhat behind, together accounting for a further X%.

Turkey, with a CAGR of X%, recorded the highest rates of growth with regard to 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

The import price in India stood at $X per ton in 2022, shrinking by X% against the previous year. In general, the import price recorded a noticeable contraction. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. Over the period under review, import prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the United States ($X per ton), while Thailand ($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 States (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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