In 2023, China led globe imports in bearings with $231.32M, showing a slight year-on-year decline. Thailand and India trailed, with India's imports growing by 5.36%, and Malaysia's imports rising significantly by 7.57%. The U.S. showed moderate growth of 3.06%. Notably, Myanmar and Belarus recorded high growths of 9.64% and 10.76% respectively, while Armenia, Norway, and Brunei faced declines. Smaller markets like Kyrgyzstan and Azerbaijan experienced notable growth. Generally, fluctuations reflect economic dynamics and industrial activity across countries.
Future trends to watch:
- Anticipated rebound in China and Thailand's imports aligning with market stabilization.
- Continued growth in emerging economies like Myanmar and India, indicating industrial expansion.
- Potential impact of geopolitical tensions and trade policies affecting market dynamics.
Top countries in Import of Bearings Including Combined Ball or Roller Bearings by Country
| # | 10 Countries | Units | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 China | 231,320,000 | 2023 | +1.21% | -0.0077% | View data |
| 2 | 2 Thailand | 176,160,000 | 2023 | -1.27% | -1.21% | View data |
| 3 | 3 India | 125,250,000 | 2023 | +4.76% | +5.36% | View data |
| 4 | 4 Malaysia | 61,984,000 | 2023 | +3.07% | +7.57% | View data |
| 5 | 5 United States | 6,923,500 | 2023 | +2.48% | +3.06% | View data |
| 6 | 6 Russia | 2,537,000 | 2023 | +1.89% | +5.55% | View data |
| 7 | 7 Argentina | 1,556,300 | 2023 | +4.33% | +4.27% | View data |
| 8 | 8 Armenia | 1,165,900 | 2023 | +5.35% | -12.82% | View data |
| 9 | 9 Bolivia | 1,127,900 | 2023 | +1.55% | +3.28% | View data |
| 10 | 10 Myanmar | 1,110,700 | 2023 | +5.47% | +9.64% | View data |
