Sri Lanka: Tapered Roller Bearing Market 2022

Tapered Roller Bearing Market Size in Sri Lanka

In 2021, the Sri Lankan tapered roller bearing market was finally on the rise to reach $X after three years of decline. The market value increased at an average annual rate of +X% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2021, consumption stood at a somewhat lower figure.

Tapered Roller Bearing Exports

Exports from Sri Lanka

In 2021, the amount of tapered roller bearings exported from Sri Lanka soared to X kg, jumping by X% against the previous year. Over the period under review, exports, however, showed a deep downturn. The exports peaked at X kg in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, tapered roller bearing exports soared to $X in 2021. Overall, exports, however, continue to indicate a deep setback. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Maldives (X kg) was the main destination for tapered roller bearing exports from Sri Lanka, with a X% share of total exports. Moreover, tapered roller bearing exports to Maldives exceeded the volume sent to the second major destination, India (X kg), eightfold. The third position in this ranking was occupied by Chile (X kg), with an X% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Maldives stood at +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (-X% per year) and Chile (-X% per year).

In value terms, the largest markets for tapered roller bearing exported from Sri Lanka were the United Arab Emirates ($X), Maldives ($X) and Singapore ($X), together accounting for X% of total exports.

Maldives, with a CAGR of +X%, recorded 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 mixed trend patterns.

Export Prices by Country

The average tapered roller bearing export price stood at $X per ton in 2021, rising by X% against the previous year. Overall, export price indicated a moderate increase from 2012 to 2021: its price increased at an average annual rate of +X% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2016 an increase of X% against the previous year. The export price peaked at $X per ton in 2018; however, from 2019 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by the country of destination: the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to Maldives ($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 the United Arab Emirates (+X%), while the prices for the other major destinations experienced more modest paces of growth.

Tapered Roller Bearing Imports

Imports into Sri Lanka

After three years of decline, overseas purchases of tapered roller bearings increased by X% to X tons in 2021. Over the period under review, total imports indicated perceptible growth from 2012 to 2021: its volume increased at an average annual rate of +X% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2016 when imports increased by X% against the previous year. Imports peaked at X tons in 2017; however, from 2018 to 2021, imports failed to regain momentum.

In value terms, tapered roller bearing imports expanded to $X in 2021. The total import value increased at an average annual rate of +X% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2015 with an increase of X% against the previous year. Over the period under review, imports hit record highs at $X in 2017; however, from 2018 to 2021, imports remained at a lower figure.

Imports by Country

The United Arab Emirates (X tons), India (X tons) and Japan (X tons) were the main suppliers of tapered roller bearing imports to Sri Lanka, with a combined X% share of total imports. These countries were followed by China and Singapore, which together accounted for a further X 2012 to 2021, the biggest increases were in China (with a CAGR of +X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, India ($X), the United Arab Emirates ($X) and Japan ($X) were the largest tapered roller bearing suppliers to Sri Lanka, together accounting for X% of total imports. China and Singapore lagged somewhat behind, together comprising a further X, with a CAGR of +X%, recorded the highest rates of growth with regard to the value of imports, among 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 tapered roller bearing import price stood at $X per ton in 2021, declining by -X% against the previous year. Overall, the import price showed a perceptible reduction. The pace of growth appeared the most rapid in 2019 when the average import price increased by X%. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Prices varied noticeably by the country of origin: the country with the highest price was Singapore ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (-X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform