ASEAN: Bearing Market 2024

Bearing Market Size in ASEAN

After two years of growth, the ASEAN bearing market decreased by X% to $X in 2022. The total consumption indicated a measured 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, consumption increased by X% against 2014 indices. As a result, consumption reached the peak level of $X, and then reduced modestly in the following year.

Bearing Production in ASEAN

In value terms, bearing production declined to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a slight reduction. The pace of growth was the most pronounced in 2021 when the production volume increased by X%. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Bearing Exports

Exports in ASEAN

In 2022, the amount of ball or roller bearings exported in ASEAN fell to X tons, declining by X% compared with the year before. Overall, exports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of X%. As a result, the exports attained the peak of X tons, and then dropped in the following year.

In value terms, bearing exports reduced to $X in 2022. Over the period under review, exports continue to indicate a mild downturn. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

In 2022, Singapore (X tons) and Thailand (X tons) were the major exporters of ball or roller bearings in ASEAN, together finishing at near X% of total exports. It was distantly followed by Indonesia (X tons), Malaysia (X tons) and Vietnam (X tons), together comprising a X% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Thailand (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X), Thailand ($X) and Malaysia ($X) constituted the countries with the highest levels of exports in 2022, together accounting for X% of total exports. Indonesia and Vietnam lagged somewhat behind, together comprising a further X%.

In terms of the main exporting countries, Vietnam, with a CAGR of X%, recorded the highest growth rate of 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

In 2022, the export price in ASEAN amounted to $X per ton, therefore, remained relatively stable against the previous year. Overall, the export price recorded a slight setback. The growth pace was the most rapid in 2014 an increase of X%. As a result, the export price reached the peak level of $X per ton. From 2015 to 2022, the export prices remained at a somewhat lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Vietnam ($X per ton) and Malaysia ($X per ton), while Thailand ($X per ton) and Indonesia ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (X%), while the other leaders experienced mixed trends in the export price figures.

Bearing Imports

Imports in ASEAN

For the third year in a row, ASEAN recorded growth in overseas purchases of ball or roller bearings, which increased by X% to X tons in 2022. In general, imports saw prominent growth. The growth pace was the most rapid in 2020 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum in 2022 and are likely to see gradual growth in years to come.

In value terms, bearing imports declined slightly to $X in 2022. Over the period under review, imports, however, showed a mild downturn. The most prominent rate of growth was recorded in 2021 with an increase of X%. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

Thailand was the main importing country with an import of about X tons, which reached X% of total imports. Indonesia (X tons) ranks second in terms of the total imports with an X% share, followed by Singapore (X%). The following importers - Vietnam (X tons), Malaysia (X tons) and the Philippines (X tons) - together made up X% of total imports.

Thailand was also the fastest-growing in terms of the ball or roller bearings imports, with a CAGR of X% from 2012 to 2022. At the same time, the Philippines (X%), Indonesia (X%) and Vietnam (X%) displayed positive paces of growth. Malaysia experienced a relatively flat trend pattern. By contrast, Singapore (X%) illustrated a downward trend over the same period. Thailand (X p.p.) significantly strengthened its position in terms of the total imports, while Vietnam, Malaysia, Indonesia and Singapore saw its share reduced by X%, X%, X% and X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Singapore ($X), Indonesia ($X) and Thailand ($X) were the countries with the highest levels of imports in 2022, with a combined X% share of total imports. Vietnam, Malaysia and the Philippines lagged somewhat behind, together accounting for a further X%.

The Philippines, 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

In 2022, the import price in ASEAN amounted to $X per ton, declining by X% against the previous year. Overall, the import price recorded a abrupt descent. The most prominent rate of growth was recorded in 2014 when the import price increased by X% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat 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 Vietnam ($X per ton), while Thailand ($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 Philippines (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform