ASEAN: Tapered Roller Bearing Market 2024

Tapered Roller Bearing Market Size in ASEAN

The ASEAN tapered roller bearing market rose sharply to $X in 2021, picking up by 5.7% against the previous year. In general, consumption, however, continues to indicate a relatively flat trend pattern. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Tapered Roller Bearing Production in ASEAN

In value terms, tapered roller bearing production rose notably to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.8% from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The pace of growth was the most pronounced in 2018 when the production volume increased by 21% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Tapered Roller Bearing Exports

Exports in ASEAN

In 2021, after three years of decline, there was significant growth in overseas shipments of tapered roller bearings, when their volume increased by 75% to X tons. In general, exports continue to indicate a prominent increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, tapered roller bearing exports skyrocketed to $X in 2021. Total exports indicated pronounced growth from 2012 to 2021: its value increased at an average annual rate of +3.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Singapore (X tons) and Thailand (X tons) dominates exports structure, together achieving 85% of total exports. Malaysia (X tons) took the next position in the ranking, followed by Vietnam (X tons). All these countries together took near 15% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Thailand (with a CAGR of +26.3%), while the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X) remains the largest tapered roller bearing supplier in ASEAN, comprising 58% of total exports. The second position in the ranking was held by Thailand ($X), with a 23% share of total exports. It was followed by Malaysia, with a 13% share.

In Singapore, tapered roller bearing exports remained relatively stable over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Thailand (+13.8% per year) and Malaysia (+13.7% per year).

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2021, declining by -14.6% against the previous year. In general, the export price recorded a pronounced slump. The growth pace was the most rapid in 2019 when the export price increased by 9%. The level of export peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices stood 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 Vietnam (+2.2%), while the other leaders experienced a decline in the export price figures.

Tapered Roller Bearing Imports

Imports in ASEAN

In 2021, imports of tapered roller bearings in ASEAN surged to X tons, rising by 58% on the previous year's figure. Total imports indicated a pronounced expansion from 2012 to 2021: its volume increased at an average annual rate of +3.8% over the last nine-year period. The trend pattern, however, indicated some 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.

In value terms, tapered roller bearing imports surged to $X in 2021. Over the period under review, imports recorded a relatively flat trend pattern. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Singapore (X tons) and Thailand (X tons) were the major importers of tapered roller bearings in ASEAN, together reaching near 62% of total imports. Indonesia (X tons) ranks next in terms of the total imports with an 18% share, followed by Malaysia (10%) and the Philippines (5.9%). Vietnam (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for the Philippines (with a CAGR of +18.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest tapered roller bearing importing markets in ASEAN were Singapore ($X), Indonesia ($X) and Thailand ($X), with a combined 77% share of total imports. Malaysia, the Philippines and Vietnam lagged somewhat behind, together comprising a further 23%.

The Philippines, with a CAGR of +14.4%, 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 2021, the import price in ASEAN amounted to $X per ton, with a decrease of -8.8% against the previous year. Overall, the import price saw a noticeable decline. The pace of growth appeared the most rapid in 2019 an increase of 6% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2014; however, from 2015 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 Indonesia ($X per ton), while Thailand ($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 (-0.4%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform