ASEAN: Spherical Roller Bearing Market 2024

Spherical Roller Bearing Market Size in ASEAN

The ASEAN spherical roller bearing market soared to $X in 2021, with an increase of 23% against the previous year. In general, consumption showed a relatively flat trend pattern. The level of consumption peaked at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Spherical Roller Bearing Production in ASEAN

In value terms, spherical roller bearing production surged to $X in 2021 estimated in export price. Over the period under review, production continues to indicate a notable increase. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Spherical Roller Bearing Exports

Exports in ASEAN

In 2021, spherical roller bearing exports in ASEAN stood at X tons, growing by 13% against the previous year. Over the period under review, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of 21% against the previous year. The volume of export peaked at X tons in 2012; afterwards, it flattened through to 2021.

In value terms, spherical roller bearing exports expanded remarkably to $X in 2021. Overall, exports, however, recorded a noticeable descent. The most prominent rate of growth was recorded in 2019 when exports increased by 19% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

In 2021, Singapore (X tons) and Malaysia (X tons) were the largest exporters of spherical roller bearings in ASEAN, together generating 88% of total exports. It was distantly followed by Thailand (X tons), achieving a 12% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Thailand (with a CAGR of +47.7%), while the other leaders experienced mixed trends in the exports figures.

In value terms, Singapore ($X), Malaysia ($X) and Thailand ($X) appeared to be the countries with the highest levels of exports in 2021, with a combined 100% share of total exports.

In terms of the main exporting countries, Thailand, with a CAGR of +28.5%, saw 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

In 2021, the export price in ASEAN amounted to $X per ton, falling by -4.8% against the previous year. Overall, the export price continues to indicate a pronounced curtailment. The pace of growth appeared the most rapid in 2014 an increase of 12%. As a result, the export price attained the peak level of $X per ton. From 2015 to 2021, the export prices remained at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (-1.2%), while the other leaders experienced a decline in the export price figures.

Spherical Roller Bearing Imports

Imports in ASEAN

In 2021, imports of spherical roller bearings in ASEAN soared to X tons, jumping by 20% against 2020 figures. In general, imports, however, recorded a relatively flat trend pattern. Over the period under review, imports attained the peak figure at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, spherical roller bearing imports expanded markedly to $X in 2021. Over the period under review, imports, however, showed a pronounced decline. The pace of growth was the most pronounced in 2018 with an increase of 13% against the previous year. The level of import peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

Singapore (X tons), Thailand (X tons), Indonesia (X tons) and Malaysia (X tons) represented roughly 95% of total imports in 2021. The following importers - Vietnam (X tons) and the Philippines (X tons) - together made up 5.3% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Vietnam (with a CAGR of +18.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X) constitutes the largest market for imported spherical roller bearings in ASEAN, comprising 45% of total imports. The second position in the ranking was held by Malaysia ($X), with a 19% share of total imports. It was followed by Indonesia, with a 15% share.

From 2012 to 2021, the average annual growth rate of value in Singapore stood at -7.9%. The remaining importing countries recorded the following average annual rates of imports growth: Malaysia (+4.6% per year) and Indonesia (+9.1% per year).

Import Prices by Country

In 2021, the import price in ASEAN amounted to $X per ton, declining by -7.7% against the previous year. In general, the import price continues to indicate a noticeable descent. The pace of growth appeared the most rapid in 2013 when the import price increased by 6.1% against the previous year. As a result, import price reached the peak level of $X per ton. From 2014 to 2021, the import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+6.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform