Asia: Tools For Bearing Market 2024

Tools For Bearing Market Size in Asia

The Asian tools for bearing market declined slightly to $X in 2022, stabilizing at the previous year. The total consumption indicated a temperate increase from 2012 to 2022: its value increased at an average annual rate of +3.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +4.8% against 2020 indices. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market remained at a lower figure.

Tools For Bearing Production in Asia

In value terms, tools for bearing production contracted slightly to $X in 2022 estimated in export price. The total production indicated perceptible growth from 2012 to 2022: its value increased at an average annual rate of +2.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +2.6% against 2020 indices. The growth pace was the most rapid in 2018 when the production volume increased by 29%. As a result, production reached the peak level of $X. From 2019 to 2022, production growth remained at a lower figure.

Tools For Bearing Exports

Exports in Asia

In 2022, exports of balls, needles and rollers for ball or roller bearings in Asia fell to X tons, remaining stable against the year before. The total export volume increased at an average annual rate of +2.8% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 32%. As a result, the exports attained the peak of X tons, leveling off in the following year.

In value terms, tools for bearing exports fell to $X in 2022. The total export value increased at an average annual rate of +1.8% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations in certain years. The pace of growth was the most pronounced in 2021 when exports increased by 44%. As a result, the exports reached the peak of $X, and then contracted modestly in the following year.

Exports by Country

China dominates exports structure, amounting to X tons, which was approx. 78% of total exports in 2022. Japan (X tons) took the second position in the ranking, followed by India (X tons). All these countries together took approx. 15% share of total exports. The following exporters - Indonesia (X tons) and Taiwan (Chinese) (X tons) - each reached a 3.7% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to tools for bearing exports from China stood at +3.1%. At the same time, India (+12.2%) and Indonesia (+11.5%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing exporter exported in Asia, with a CAGR of +12.2% from 2012-2022. By contrast, Japan (-1.6%) and Taiwan (Chinese) (-2.9%) illustrated a downward trend over the same period. India (+3.1 p.p.) and China (+2 p.p.) significantly strengthened its position in terms of the total exports, while Japan saw its share reduced by -5.4% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest tools for bearing supplier in Asia, comprising 57% of total exports. The second position in the ranking was held by Japan ($X), with a 20% share of total exports. It was followed by India, with a 6.9% share.

From 2012 to 2022, the average annual growth rate of value in China totaled +3.8%. The remaining exporting countries recorded the following average annual rates of exports growth: Japan (-4.1% per year) and India (+10.9% per year).

Export Prices by Country

In 2022, the export price in Asia amounted to $X per ton, which is down by -3.1% against the previous year. Over the period under review, the export price showed a slight setback. The pace of growth was the most pronounced in 2021 when the export price increased by 8.9% against the previous year. Over the period under review, the export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Japan ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+3.1%), while the other leaders experienced mixed trends in the export price figures.

Tools For Bearing Imports

Imports in Asia

In 2022, approx. X tons of balls, needles and rollers for ball or roller bearings were imported in Asia; reducing by -12.6% compared with the previous year. The total import volume increased at an average annual rate of +3.6% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 when imports increased by 31%. As a result, imports reached the peak of X tons, and then fell in the following year.

In value terms, tools for bearing imports shrank to $X in 2022. The total import value increased at an average annual rate of +2.1% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when imports increased by 25%. As a result, imports attained the peak of $X, and then reduced in the following year.

Imports by Country

In 2022, South Korea (X tons), distantly followed by India (X tons), China (X tons), Thailand (X tons), Japan (X tons), Turkey (X tons) and Taiwan (Chinese) (X tons) represented the major importers of balls, needles and rollers for ball or roller bearings, together mixing up 86% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by India (with a CAGR of +10.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), South Korea ($X) and India ($X) were the countries with the highest levels of imports in 2022, with a combined 59% share of total imports.

India, with a CAGR of +6.1%, saw the highest growth rate of 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

The import price in Asia stood at $X per ton in 2022, increasing by 2.7% against the previous year. In general, the import price, however, saw a slight contraction. The most prominent rate of growth was recorded in 2017 when the import price increased by 15%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was China ($X per ton), while Turkey ($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 (+1.3%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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