ASEAN: Cylindrical Roller Bearing Market 2024

Cylindrical Roller Bearing Market Size in ASEAN

For the fourth consecutive year, the ASEAN cylindrical roller bearing market recorded growth in sales value, which increased by 10% to $X in 2022. The total consumption indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +7.9% 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 +114.1% against 2012 indices. The level of consumption peaked in 2022 and is likely to continue growth in the immediate term.

Cylindrical Roller Bearing Production in ASEAN

In value terms, cylindrical roller bearing production rose significantly to $X in 2022 estimated in export price. Over the period under review, production, however, saw a noticeable decline. The most prominent rate of growth was recorded in 2020 with an increase of 41%. The level of production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Cylindrical Roller Bearing Exports

Exports in ASEAN

In 2022, approx. X tons of cylindrical roller bearings were exported in ASEAN; dropping by -22% against the previous year's figure. In general, exports showed a deep contraction. The most prominent rate of growth was recorded in 2018 with an increase of 56% against the previous year. The volume of export peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, cylindrical roller bearing exports reduced notably to $X in 2022. Over the period under review, exports showed a abrupt decline. The most prominent rate of growth was recorded in 2018 with an increase of 64%. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Singapore was the largest exporter of cylindrical roller bearings in ASEAN, with the volume of exports amounting to X tons, which was near 72% of total exports in 2022. Malaysia (X tons) took the second position in the ranking, followed by Thailand (X tons) and Vietnam (X tons). All these countries together held near 27% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to cylindrical roller bearing exports from Singapore stood at -10.3%. At the same time, Vietnam (+120.1%) and Thailand (+7.1%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +120.1% from 2012-2022. By contrast, Malaysia (-21.6%) illustrated a downward trend over the same period. While the share of Singapore (+16 p.p.), Thailand (+7.3 p.p.) and Vietnam (+4.6 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Malaysia (-28.4 p.p.) displayed negative dynamics.

In value terms, Singapore ($X) remains the largest cylindrical roller bearing supplier in ASEAN, comprising 76% of total exports. The second position in the ranking was held by Malaysia ($X), with a 15% share of total exports. It was followed by Vietnam, with a 5% share.

In Singapore, cylindrical roller bearing exports plunged by an average annual rate of -9.8% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Malaysia (-20.8% per year) and Vietnam (+125.8% per year).

Export Prices by Country

In 2022, the export price in ASEAN amounted to $X per ton, increasing by 7.5% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. Over the period under review, the export prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, 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 Vietnam (+2.6%), while the other leaders experienced more modest paces of growth.

Cylindrical Roller Bearing Imports

Imports in ASEAN

For the third year in a row, ASEAN recorded growth in supplies from abroad of cylindrical roller bearings, which increased by 9.9% to X tons in 2022. Over the period under review, imports showed a resilient expansion. The most prominent rate of growth was recorded in 2021 with an increase of 54% against the previous year. The volume of import peaked in 2022 and is expected to retain growth in the immediate term.

In value terms, cylindrical roller bearing imports rose modestly to $X in 2022. Total imports indicated measured growth from 2012 to 2022: its value increased at an average annual rate of +2.8% 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 +35.5% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 29%. The level of import peaked in 2022 and is expected to retain growth in the near future.

Imports by Country

Thailand (X tons) and Indonesia (X tons) represented the largest importers of cylindrical roller bearings in 2022, accounting for approx. 37% and 31% of total imports, respectively. Singapore (X tons) took a 17% share (based on physical terms) of total imports, which put it in second place, followed by Malaysia (7.6%). The following importers - the Philippines (X tons) and Vietnam (X tons) - each amounted to a 6.8% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of +24.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest cylindrical roller bearing importing markets in ASEAN were Singapore ($X), Indonesia ($X) and Thailand ($X), together comprising 78% of total imports. Malaysia, Vietnam and the Philippines lagged somewhat behind, together accounting for a further 22%.

In terms of the main importing countries, Vietnam, with a CAGR of +23.8%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in ASEAN stood at $X per ton in 2022, reducing by -4.5% against the previous year. Overall, the import price recorded a abrupt slump. The most prominent rate of growth was recorded in 2019 an increase of 6.3% against the previous year. Over the period under review, import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Singapore ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+0.6%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform