Southern Asia: Needle Roller Bearing Market 2024

Needle Roller Bearing Market Size in Southern Asia

After two years of growth, the South Asian needle roller bearing market decreased by X% to $X in 2023. Overall, consumption, however, saw a relatively flat trend pattern. The level of consumption peaked at $X in 2019; however, from 2020 to 2023, consumption remained at a lower figure.

Needle Roller Bearing Production in Southern Asia

In value terms, needle roller bearing production reduced slightly to $X in 2023 estimated in export price. In general, production, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2023, production remained at a lower figure.

Needle Roller Bearing Exports

Exports in Southern Asia

For the third year in a row, Southern Asia recorded growth in overseas shipments of needle roller bearings, which increased by X% to X tons in 2023. Overall, exports enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2022 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum in 2023 and are likely to see gradual growth in the near future.

In value terms, needle roller bearing exports expanded modestly to $X in 2023. Total exports indicated a noticeable increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. The level of export peaked in 2023 and is expected to retain growth in the near future.

Exports by Country

In 2023, India (X tons) was the major exporter of needle roller bearings in Southern Asia, constituting X% of total export.

India was also the fastest-growing in terms of the needle roller bearings exports, with a CAGR of X% from 2012 to 2023. The shares of the largest exporters remained relatively stable throughout the analyzed period.

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

From 2012 to 2023, the average annual growth rate of value in India totaled X%.

Export Prices by Country

In 2023, the export price in Southern Asia amounted to $X per ton, declining by X% against the previous year. In general, the export price saw a noticeable slump. The pace of growth appeared the most rapid in 2018 when the export price increased by X% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2013; however, from 2014 to 2023, the export prices failed to regain momentum.

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

From 2012 to 2023, the rate of growth in terms of prices for India amounted to X% per year.

Needle Roller Bearing Imports

Imports in Southern Asia

In 2023, after two years of growth, there was decline in supplies from abroad of needle roller bearings, when their volume decreased by X% to X tons. Overall, imports, however, saw a resilient expansion. The growth pace was the most rapid in 2021 when imports increased by X%. Over the period under review, imports hit record highs at X tons in 2022, and then dropped modestly in the following year.

In value terms, needle roller bearing imports shrank to $X in 2023. Total imports indicated a resilient increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports decreased by X% against 2021 indices. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. As a result, imports attained the peak of $X. From 2022 to 2023, the growth of imports remained at a lower figure.

Imports by Country

India dominates imports structure, accounting for X tons, which was approx. X% of total imports in 2023. The following importers - Bangladesh (X tons) and Pakistan (X tons) - together made up X% of total imports.

From 2012 to 2023, average annual rates of growth with regard to needle roller bearing imports into India stood at X%. At the same time, Bangladesh (X%) displayed positive paces of growth. Moreover, Bangladesh emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of X% from 2012-2023. By contrast, Pakistan (X%) illustrated a downward trend over the same period. While the share of India (X p.p.) increased significantly in terms of the total imports from 2012-2023, the share of Pakistan (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

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

In India, needle roller bearing imports expanded at an average annual rate of X% over the period from 2012-2023. The remaining importing countries recorded the following average annual rates of imports growth: Bangladesh (X% per year) and Pakistan (X% per year).

Import Prices by Country

The import price in Southern Asia stood at $X per ton in 2023, remaining stable against the previous year. In general, the import price recorded a mild reduction. The most prominent rate of growth was recorded in 2020 when the import price increased by X% against the previous year. Over the period under review, import prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2023, import prices failed to regain momentum.

Average prices varied noticeably amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Pakistan ($X per ton), while India ($X per ton) was amongst the lowest.

From 2012 to 2023, 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