Asia: Cylindrical Roller Bearing Market 2024

Cylindrical Roller Bearing Market Size in Asia

For the third year in a row, the Asian cylindrical roller bearing market recorded decline in sales value, which decreased by -5.5% to $X in 2022. In general, consumption, however, showed a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market failed to regain momentum.

Cylindrical Roller Bearing Production in Asia

In value terms, cylindrical roller bearing production fell slightly to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the production volume increased by 21% against the previous year. Over the period under review, production attained the peak level at $X in 2019; afterwards, it flattened through to 2022.

Cylindrical Roller Bearing Exports

Exports in Asia

In 2022, overseas shipments of cylindrical roller bearings increased by 8.4% to X tons, rising for the sixth consecutive year after two years of decline. Over the period under review, exports showed a remarkable increase. The growth pace was the most rapid in 2021 with an increase of 23% against the previous year. The volume of export peaked in 2022 and is likely to see steady growth in years to come.

In value terms, cylindrical roller bearing exports amounted to $X in 2022. The total export value increased at an average annual rate of +1.5% 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 2014 with an increase of 19% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to see steady growth in the near future.

Exports by Country

China (X tons) and Japan (X tons) represented roughly 69% of total exports in 2022. Taiwan (Chinese) (X tons) took the next position in the ranking, followed by Kazakhstan (X tons). All these countries together held approx. 18% share of total exports. Hong Kong SAR (X tons), India (X tons) and South Korea (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Taiwan (Chinese) (with a CAGR of +43.8%), while the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), China ($X) and Kazakhstan ($X) were the countries with the highest levels of exports in 2022, with a combined 71% share of total exports. Hong Kong SAR, India, Taiwan (Chinese) and South Korea lagged somewhat behind, together accounting for a further 24%.

Taiwan (Chinese), with a CAGR of +34.6%, saw the highest rates of growth with regard to the value of exports, in terms of 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 2022, falling by -6.4% against the previous year. In general, the export price continues to indicate a perceptible slump. The pace of growth appeared the most rapid in 2017 an increase of 4.3%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per ton), while Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+0.8%), while the other leaders experienced more modest paces of growth.

Cylindrical Roller Bearing Imports

Imports in Asia

In 2022, purchases abroad of cylindrical roller bearings decreased by -9% to X tons for the first time since 2018, thus ending a three-year rising trend. Total imports indicated a temperate expansion from 2012 to 2022: its volume increased at an average annual rate of +4.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2020 when imports increased by 18% against the previous year. The volume of import peaked at X tons in 2021, and then shrank in the following year.

In value terms, cylindrical roller bearing imports declined to $X in 2022. The total import value increased at an average annual rate of +2.0% 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 2017 when imports increased by 12% against the previous year. The level of import peaked at $X in 2021, and then fell in the following year.

Imports by Country

China represented the major importer of cylindrical roller bearings in Asia, with the volume of imports accounting for X tons, which was near 49% of total imports in 2022. Thailand (X tons) held a 7.6% share (based on physical terms) of total imports, which put it in second place, followed by South Korea (7.3%), Indonesia (6.3%) and Turkey (5.6%). India (X tons), Hong Kong SAR (X tons), Singapore (X tons), Japan (X tons), Taiwan (Chinese) (X tons) and Malaysia (X tons) held a little share of total imports.

From 2012 to 2022, average annual rates of growth with regard to cylindrical roller bearing imports into China stood at +2.8%. At the same time, Thailand (+20.0%), Hong Kong SAR (+18.6%), Indonesia (+9.4%), Malaysia (+8.2%), India (+6.8%), Japan (+4.7%) and Turkey (+3.8%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing importer imported in Asia, with a CAGR of +20.0% from 2012-2022. South Korea experienced a relatively flat trend pattern. By contrast, Singapore (-2.3%) and Taiwan (Chinese) (-3.3%) illustrated a downward trend over the same period. Thailand (+5.7 p.p.), Hong Kong SAR (+2.7 p.p.) and Indonesia (+2.5 p.p.) significantly strengthened its position in terms of the total imports, while Taiwan (Chinese), Singapore, South Korea and China saw its share reduced by -1.7%, -3%, -3.6% and -6.4% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported cylindrical roller bearings in Asia, comprising 53% of total imports. The second position in the ranking was held by South Korea ($X), with a 7.5% share of total imports. It was followed by India, with a 5.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value in China was relatively modest. The remaining importing countries recorded the following average annual rates of imports growth: South Korea (-0.2% per year) and India (+7.1% per year).

Import Prices by Country

In 2022, the import price in Asia amounted to $X per ton, increasing by 2.4% against the previous year. In general, the import price, however, continues to indicate a mild descent. The most prominent rate of growth was recorded in 2019 an increase of 3.7% against the previous year. The level of import peaked 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 Japan ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+0.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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