Asia: Bearing Market 2025

Bearing Market Size in Asia

In 2021, the Asian bearing market decreased by -1.8% to $X, falling for the third year in a row after three years of growth. In general, consumption saw a mild decrease. The most prominent rate of growth was recorded in 2017 with an increase of 5.9% against the previous year. Over the period under review, the market attained the peak level at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Bearing Production in Asia

In value terms, bearing production rose modestly to $X in 2021 estimated in export price. In general, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 6.1%. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Bearing Exports

Exports in Asia

In 2021, the amount of ball and roller bearings exported in Asia surged to X tons, rising by 31% on the previous year's figure. Overall, exports recorded a strong increase. The pace of growth was the most pronounced in 2019 when exports increased by 86% against the previous year. Over the period under review, the exports reached the maximum in 2021 and are likely to continue growth in years to come.

In value terms, bearing exports surged to $X in 2021. The total export value increased at an average annual rate of +2.0% 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, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

China represented the major exporting country with an export of around X tons, which amounted to 64% of total exports. Japan (X tons) held the second position in the ranking, distantly followed by South Korea (X tons). All these countries together took approx. 22% share of total exports. The following exporters - Singapore (X tons), India (X tons) and Thailand (X tons) - together made up 7.6% of total exports.

China was also the fastest-growing in terms of the ball and roller bearings exports, with a CAGR of +20.2% from 2012 to 2021. At the same time, Thailand (+9.6%), India (+9.2%) and South Korea (+3.5%) displayed positive paces of growth. Japan experienced a relatively flat trend pattern. By contrast, Singapore (-3.5%) illustrated a downward trend over the same period. From 2012 to 2021, the share of China increased by +37 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest bearing supplying countries in Asia were China ($X), Japan ($X) and Singapore ($X), together comprising 74% of total exports. South Korea, Thailand and India lagged somewhat behind, together comprising a further 14%.

Thailand, with a CAGR of +9.2%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Asia stood at $X per ton in 2021, remaining relatively unchanged against the previous year. Over the period under review, the export price saw a deep contraction. The growth pace was the most rapid in 2020 an increase of 16% against the previous year. Over the period under review, the export prices reached the peak figure 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, amid the top suppliers, the country with the highest price was Thailand ($X per ton), while China ($X per ton) was amongst the lowest.

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

Bearing Imports

Imports in Asia

In 2021, the amount of ball and roller bearings imported in Asia skyrocketed to X tons, surging by 18% against 2020 figures. The total import volume increased at an average annual rate of +2.8% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, bearing imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +1.6% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

China represented the major importing country with an import of about X tons, which finished at 30% of total imports. India (X tons) held an 8% share (based on physical terms) of total imports, which put it in second place, followed by South Korea (8%), Indonesia (7.9%), Singapore (5.7%), Turkey (5.3%) and the United Arab Emirates (4.8%). Japan (X tons), Thailand (X tons), Taiwan (Chinese) (X tons), Hong Kong SAR (X tons), Iran (X tons) and Vietnam (X tons) followed a long way behind the leaders.

Imports into China increased at an average annual rate of +5.2% from 2012 to 2021. At the same time, Vietnam (+17.7%), the United Arab Emirates (+10.6%), Iran (+6.9%), India (+4.4%), Turkey (+3.3%), Indonesia (+2.1%), Japan (+1.6%) and Taiwan (Chinese) (+1.1%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing importer imported in Asia, with a CAGR of +17.7% from 2012-2021. South Korea and Thailand experienced a relatively flat trend pattern. By contrast, Hong Kong SAR (-2.8%) and Singapore (-4.6%) illustrated a downward trend over the same period. From 2012 to 2021, the share of China, the United Arab Emirates and Vietnam increased by +5.5, +2.3 and +1.7 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported ball and roller bearings in Asia, comprising 38% of total imports. The second position in the ranking was taken by India ($X), with a 9% share of total imports. It was followed by South Korea, with a 6.8% share.

In China, bearing imports expanded at an average annual rate of +5.2% over the period from 2012-2021. In the other countries, the average annual rates were as follows: India (+3.8% per year) and South Korea (-1.0% per year).

Import Prices by Country

The import price in Asia stood at $X per ton in 2021, rising by 4.4% against the previous year. Overall, the import price, however, showed a mild contraction. The most prominent rate of growth was recorded in 2020 when the import price increased by 21%. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+0.0%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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