Asia: Bearing Market 2024

Bearing Market Size in Asia

The Asian bearing market contracted to $X in 2022, waning by X% against the previous year. Over the period under review, consumption continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the market value increased by X%. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market remained at a somewhat lower figure.

Bearing Production in Asia

In value terms, bearing production declined slightly to $X in 2022 estimated in export price. Overall, production, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 when the production volume increased by X%. As a result, production attained the peak level of $X. From 2020 to 2022, production growth remained at a somewhat lower figure.

Bearing Exports

Exports in Asia

Bearing exports amounted to X tons in 2022, remaining stable against the previous year. Overall, exports posted strong growth. The pace of growth appeared the most rapid in 2019 with an increase of X%. The volume of export peaked in 2022 and is likely to continue growth in the immediate term.

In value terms, bearing exports contracted modestly to $X in 2022. The total export value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The pace of growth appeared the most rapid in 2021 when exports increased by X% against the previous year. As a result, the exports reached the peak of $X, and then fell slightly in the following year.

Exports by Country

China represented the key exporter of ball or roller bearings in Asia, with the volume of exports accounting for X tons, which was approx. X% of total exports in 2022. Japan (X tons) held a X% share (based on physical terms) of total exports, which put it in second place, followed by South Korea (X%). The following exporters - Singapore (X tons), India (X tons), Thailand (X tons) and Taiwan (Chinese) (X tons) - together made up X% of total exports.

China was also the fastest-growing in terms of the ball or roller bearings exports, with a CAGR of X% from 2012 to 2022. At the same time, India (X%), Thailand (X%), Taiwan (Chinese) (X%) and South Korea (X%) displayed positive paces of growth. Japan experienced a relatively flat trend pattern. By contrast, Singapore (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China increased by X 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), with a combined X% share of total exports. South Korea, India, Thailand and Taiwan (Chinese) lagged somewhat behind, together comprising a further X%.

India, with a CAGR of X%, recorded the highest rates of growth with regard to 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

In 2022, the export price in Asia amounted to $X per ton, dropping by X% against the previous year. Overall, the export price showed a abrupt shrinkage. The pace of growth was the most pronounced in 2020 when the export price increased by X% against the previous year. Over the period under review, the export prices reached the maximum at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Singapore ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (X%), while the other leaders experienced mixed trends in the export price figures.

Bearing Imports

Imports in Asia

For the seventh consecutive year, Asia recorded growth in overseas purchases of ball or roller bearings, which increased by X% to X tons in 2022. Total imports indicated a strong increase from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2015 indices. The pace of growth was the most pronounced in 2021 with an increase of X%. The volume of import peaked in 2022 and is expected to retain growth in the near future.

In value terms, bearing imports reduced to $X in 2022. Over the period under review, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by X%. As a result, imports reached the peak of $X, and then dropped in the following year.

Imports by Country

In 2022, Thailand (X tons), distantly followed by China (X tons), India (X tons), Indonesia (X tons), South Korea (X tons) and Turkey (X tons) represented the key importers of ball or roller bearings, together making up X% of total imports. Singapore (X tons), Japan (X tons), the United Arab Emirates (X tons), Taiwan (Chinese) (X tons), Iran (X tons) and Vietnam (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Thailand (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

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

From 2012 to 2022, the average annual rate of growth in terms of value in China stood at X%. In the other countries, the average annual rates were as follows: India (X% per year) and South Korea (X% per year).

Import Prices by Country

The import price in Asia stood at $X per ton in 2022, declining by X% against the previous year. Over the period under review, the import price showed a abrupt descent. The most prominent rate of growth was recorded in 2014 an increase of X%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was China ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :