Asia: Ball Bearing Market 2024

Ball Bearing Market Size in Asia

In 2021, the Asian ball bearing market decreased by -11.9% to $X, falling for the second consecutive year after three years of growth. The market value increased at an average annual rate of +1.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $X. From 2020 to 2021, the growth of the market remained at a lower figure.

Ball Bearing Production in Asia

In value terms, ball bearing production rose slightly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.4% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2019 with an increase of 18% against the previous year. As a result, production attained the peak level of $X. From 2020 to 2021, production growth failed to regain momentum.

Ball Bearing Exports

Exports in Asia

In 2021, exports of ball bearings in Asia skyrocketed to X tons, with an increase of 69% compared with 2020. Over the period under review, exports enjoyed a prominent expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, ball bearing exports soared to $X in 2021. The total export value increased at an average annual rate of +3.5% from 2012 to 2021; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

China represented the largest exporter of ball bearings in Asia, with the volume of exports reaching X tons, which was near 67% of total exports in 2021. Japan (X tons) took the second position in the ranking, distantly followed by South Korea (X tons). All these countries together held approx. 21% share of total exports. Thailand (X tons), Turkey (X tons) and Taiwan (Chinese) (X tons) held a minor share of total exports.

China was also the fastest-growing in terms of the ball bearings exports, with a CAGR of +18.6% from 2012 to 2021. At the same time, Turkey (+8.6%), Thailand (+8.3%) and South Korea (+2.3%) displayed positive paces of growth. Taiwan (Chinese) and Japan experienced a relatively flat trend pattern. While the share of China (+34 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Taiwan (Chinese) (-1.9 p.p.), South Korea (-5 p.p.) and Japan (-17.5 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X), Japan ($X) and South Korea ($X) were the countries with the highest levels of exports in 2021, together comprising 77% of total exports. These countries were followed by Thailand, Turkey and Taiwan (Chinese), which together accounted for a further 9.9%.

In terms of the main exporting countries, Turkey, with a CAGR of +9.2%, recorded the highest growth rate of the value of exports, 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, waning by -21.2% against the previous year. In general, the export price saw a deep contraction. The most prominent rate of growth was recorded in 2018 an increase of 5.7%. Over the period under review, the export prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: 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 Taiwan (Chinese) (+2.7%), while the other leaders experienced more modest paces of growth.

Ball Bearing Imports

Imports in Asia

After two years of decline, purchases abroad of ball bearings increased by 21% to X tons in 2021. The total import volume increased at an average annual rate of +2.8% over the period from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, ball bearing imports surged to $X in 2021. The total import value increased at an average annual rate of +2.2% over the period from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

China was the key importing country with an import of around X tons, which amounted to 24% of total imports. Indonesia (X tons) ranks second in terms of the total imports with a 9% share, followed by South Korea (7.8%), India (7.4%), Japan (5.8%), Singapore (5.3%), Thailand (5%), Turkey (4.9%) and Taiwan (Chinese) (4.8%). The United Arab Emirates (X tons), Hong Kong SAR (X tons), Vietnam (X tons) and Iran (X tons) held a minor share of total imports.

From 2012 to 2021, average annual rates of growth with regard to ball bearing imports into China stood at +4.2%. At the same time, Iran (+7.3%), Vietnam (+6.6%), India (+5.1%), Turkey (+4.7%), the United Arab Emirates (+4.3%), Indonesia (+4.0%), Japan (+2.7%), Thailand (+1.8%), South Korea (+1.8%) and Taiwan (Chinese) (+1.5%) displayed positive paces of growth. Moreover, Iran emerged as the fastest-growing importer imported in Asia, with a CAGR of +7.3% from 2012-2021. By contrast, Hong Kong SAR (-1.6%) and Singapore (-4.7%) illustrated a downward trend over the same period. China (+2.7 p.p.) significantly strengthened its position in terms of the total imports, while Hong Kong SAR and Singapore saw its share reduced by -1.9% and -5.2% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported ball bearings in Asia, comprising 33% of total imports. The second position in the ranking was held by India ($X), with an 8.6% share of total imports. It was followed by Japan, with a 6.8% share.

In China, ball bearing imports increased at an average annual rate of +6.4% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: India (+5.7% per year) and Japan (+0.6% per year).

Import Prices by Country

In 2021, the import price in Asia amounted to $X per ton, surging by 7% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+2.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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