Asia: Market for Bearing Housings Incorporating Ball Or Roller Bearings 2024

Market Size for Bearing Housings Incorporating Ball Or Roller Bearings in Asia

In 2022, the Asian market for bearing housings incorporating ball or roller bearings decreased by -9.6% to $X, falling for the third consecutive year after six years of growth. In general, consumption, however, continues to indicate a tangible increase. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Production of Bearing Housings Incorporating Ball Or Roller Bearings in Asia

In value terms, bearing housing with ball bearing production dropped slightly to $X in 2022 estimated in export price. Overall, production, however, showed buoyant growth. The growth pace was the most rapid in 2019 when the production volume increased by 25%. As a result, production reached the peak level of $X. From 2020 to 2022, production growth remained at a lower figure.

Exports of Bearing Housings Incorporating Ball Or Roller Bearings

Exports in Asia

In 2022, approx. X tons of bearing housings incorporating ball or roller bearings were exported in Asia; surging by 46% compared with the year before. In general, exports showed resilient growth. The growth pace was the most rapid in 2021 with an increase of 72%. The volume of export peaked in 2022 and is expected to retain growth in the near future.

In value terms, bearing housing with ball bearing exports rose remarkably to $X in 2022. Total exports indicated tangible growth from 2012 to 2022: its value increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +56.7% against 2020 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 43% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the immediate term.

Exports by Country

China prevails in exports structure, accounting for X tons, which was near 83% of total exports in 2022. It was distantly followed by Japan (X tons), creating a 6.6% share of total exports. The following exporters - the United Arab Emirates (X tons), Vietnam (X tons) and Turkey (X tons) - each resulted at a 5.5% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to bearing housing with ball bearing exports from China stood at +22.8%. At the same time, Vietnam (+26.8%), the United Arab Emirates (+24.9%) and Turkey (+12.6%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in Asia, with a CAGR of +26.8% from 2012-2022. By contrast, Japan (-2.7%) illustrated a downward trend over the same period. While the share of China (+40 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Japan (-27.9 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest bearing housing with ball bearing supplier in Asia, comprising 64% of total exports. The second position in the ranking was held by Japan ($X), with a 12% share of total exports. It was followed by Vietnam, with a 5.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value in China totaled +6.4%. In the other countries, the average annual rates were as follows: Japan (-3.6% per year) and Vietnam (+25.5% per year).

Export Prices by Country

The export price in Asia stood at $X per ton in 2022, waning by -25.1% against the previous year. Overall, the export price recorded a abrupt setback. The growth pace was the most rapid in 2018 when the export price increased by 15% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2019 to 2022, the export prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (-1.0%), while the other leaders experienced a decline in the export price figures.

Imports of Bearing Housings Incorporating Ball Or Roller Bearings

Imports in Asia

In 2022, supplies from abroad of bearing housings incorporating ball or roller bearings increased by 18% to X tons, rising for the second consecutive year after two years of decline. Total imports indicated a buoyant increase from 2012 to 2022: its volume increased at an average annual rate of +5.0% 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 +30.9% against 2020 indices. The most prominent rate of growth was recorded in 2018 when imports increased by 48%. As a result, imports attained the peak of X tons. From 2019 to 2022, the growth of imports remained at a lower figure.

In value terms, bearing housing with ball bearing imports totaled $X in 2022. The total import value increased at an average annual rate of +1.8% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 when imports increased by 35%. As a result, imports attained the peak of $X. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, Turkey (X tons), Indonesia (X tons), India (X tons), Japan (X tons), China (X tons), Thailand (X tons), Vietnam (X tons), the United Arab Emirates (X tons), Singapore (X tons), Malaysia (X tons), Taiwan (Chinese) (X tons) and the Philippines (X tons) was the major importer of bearing housings incorporating ball or roller bearings in Asia, creating 89% of total import.

From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of +29.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), India ($X) and Turkey ($X) were the countries with the highest levels of imports in 2022, together accounting for 44% of total imports. Japan, Indonesia, Singapore, Malaysia, Thailand, the Philippines, the United Arab Emirates, Taiwan (Chinese) and Vietnam lagged somewhat behind, together accounting for a further 44%.

The Philippines, with a CAGR of +9.7%, recorded the highest rates of growth with regard to the value of imports, in terms of 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, shrinking by -14.7% against the previous year. In general, the import price saw a noticeable downturn. The pace of growth was the most pronounced in 2019 an increase of 22%. Over the period under review, import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+14.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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