Southern Asia: Bearing Market 2024

Bearing Market Size in Southern Asia

The South Asian bearing market contracted sharply to $X in 2022, dropping by X% against the previous year. Overall, consumption showed a pronounced setback. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Bearing Production in Southern Asia

In value terms, bearing production dropped to $X in 2022 estimated in export price. Overall, production continues to indicate a abrupt descent. The pace of growth appeared the most rapid in 2013 with an increase of X%. As a result, production attained the peak level of $X. From 2014 to 2022, production growth remained at a lower figure.

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Bearing Exports

Exports in Southern Asia

Bearing exports skyrocketed to X tons in 2022, rising by X% on the previous year's figure. Over the period under review, exports posted a buoyant expansion. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. The volume of export peaked in 2022 and is likely to continue growth in years to come.

In value terms, bearing exports soared to $X in 2022. In general, exports saw a prominent expansion. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in the near future.

Exports by Country

The shipments of the one major exporters of ball or roller bearings, namely India, represented more than two-thirds of total export.

India was also the fastest-growing in terms of the ball or roller bearings exports, with a CAGR of X% from 2012 to 2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, India ($X) also remains the largest bearing supplier in Southern Asia.

From 2012 to 2022, the average annual rate of growth in terms of value in India stood at X%.

Export Prices by Country

The export price in Southern Asia stood at $X per ton in 2022, shrinking by X% against the previous year. Overall, the export price recorded a slight decline. The pace of growth was the most pronounced 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 export prices remained at a somewhat lower figure.

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

From 2012 to 2022, the rate of growth in terms of prices for India amounted to X% per year.

Bearing Imports

Imports in Southern Asia

In 2022, purchases abroad of ball or roller bearings increased by X% to X tons, rising for the second consecutive year after two years of decline. Total imports indicated prominent 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 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in the near future.

In value terms, bearing imports reduced to $X in 2022. Total imports indicated a notable 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 attained the peak of $X, and then shrank modestly in the following year.

Imports by Country

In 2022, India (X tons) represented the key importer of ball or roller bearings, achieving X% of total imports. It was distantly followed by Bangladesh (X tons), achieving a X% share of total imports. The following importers - Afghanistan (X tons) and Pakistan (X tons) - each accounted for a X% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to bearing imports into India stood at X%. At the same time, Afghanistan (X%) and Bangladesh (X%) displayed positive paces of growth. Moreover, Afghanistan emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of X% from 2012-2022. Pakistan experienced a relatively flat trend pattern. While the share of Bangladesh (X p.p.) and Afghanistan (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Pakistan (X p.p.) and India (X p.p.) displayed negative dynamics.

In value terms, India ($X) constitutes the largest market for imported ball or roller bearings in Southern Asia, comprising X% of total imports. The second position in the ranking was held by Pakistan ($X), with a X% share of total imports. It was followed by Bangladesh, with a X% share.

In India, bearing imports expanded at an average annual rate of X% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Pakistan (X% per year) and Bangladesh (X% per year).

Import Prices by Country

In 2022, the import price in Southern Asia amounted to $X per ton, falling by X% against the previous year. Overall, the import price continues to indicate a pronounced reduction. The most prominent rate of growth was recorded in 2013 when the import price increased by X%. As a result, import price attained the peak level of $X per ton. From 2014 to 2022, the import prices remained at a 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 Pakistan ($X per ton), while Bangladesh ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Pakistan (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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