ASEAN: Needle Roller Bearing Market 2024

Needle Roller Bearing Market Size in ASEAN

The ASEAN needle roller bearing market skyrocketed to $X in 2021, with an increase of 174% against the previous year. In general, consumption saw significant growth. The level of consumption peaked in 2021 and is expected to retain growth in years to come.

Needle Roller Bearing Production in ASEAN

In value terms, needle roller bearing production declined notably to $X in 2021 estimated in export price. In general, production recorded significant growth. The most prominent rate of growth was recorded in 2020 with an increase of 8,019%. As a result, production attained the peak level of $X, and then contracted dramatically in the following year.

Needle Roller Bearing Exports

Exports in ASEAN

In 2021, overseas shipments of needle roller bearings increased by 50% to X tons, rising for the second consecutive year after two years of decline. Overall, exports saw buoyant growth. The pace of growth was the most pronounced in 2020 when exports increased by 136% against the previous year. The volume of export peaked in 2021 and is likely to see steady growth in the near future.

In value terms, needle roller bearing exports surged to $X in 2021. Over the period under review, exports saw slight growth. Over the period under review, the exports reached the peak figure at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Thailand represented the largest exporting country with an export of around X tons, which resulted at 80% of total exports. It was distantly followed by Singapore (X tons), constituting a 14% share of total exports. Vietnam (X tons) held a relatively small share of total exports.

Exports from Thailand increased at an average annual rate of +31.8% from 2012 to 2021. At the same time, Vietnam (+67.6%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +67.6% from 2012-2021. By contrast, Singapore (-8.5%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Thailand and Vietnam increased by +63 and +4.1 percentage points, respectively.

In value terms, the largest needle roller bearing supplying countries in ASEAN were Thailand ($X), Singapore ($X) and Vietnam ($X), with a combined 94% share of total exports.

Among the main exporting countries, Vietnam, with a CAGR of +36.2%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2021, flattening at the previous year. In general, the export price, however, recorded a abrupt contraction. The most prominent rate of growth was recorded in 2013 an increase of 47% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2014 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Vietnam ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+2.0%), while the other leaders experienced a decline in the export price figures.

Needle Roller Bearing Imports

Imports in ASEAN

After two years of decline, overseas purchases of needle roller bearings increased by 46% to X tons in 2021. Total imports indicated notable growth from 2012 to 2021: its volume increased at an average annual rate of +3.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The volume of import peaked at X tons in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, needle roller bearing imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +1.4% over the period from 2012 to 2021; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Indonesia (X tons) and Thailand (X tons) prevails in imports structure, together making up 76% of total imports. Singapore (X tons) took an 8.1% share (based on physical terms) of total imports, which put it in second place, followed by Vietnam (6.8%) and Malaysia (6.6%). The Philippines (X tons) took a relatively small share of total imports.

From 2012 to 2021, the biggest increases were in Vietnam (with a CAGR of +52.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest needle roller bearing importing markets in ASEAN were Thailand ($X), Indonesia ($X) and Singapore ($X), with a combined 80% share of total imports. These countries were followed by Vietnam, Malaysia and the Philippines, which together accounted for a further 20%.

Vietnam, with a CAGR of +53.2%, saw the highest growth rate of the value of imports, in terms of 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 2021, the import price in ASEAN amounted to $X per ton, waning by -4.6% against the previous year. Over the period under review, the import price recorded a perceptible decrease. The growth pace was the most rapid in 2019 an increase of 21% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Singapore ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (+10.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform