Asia-Pacific: Bearing Market 2025

Bearing Market Size in Asia-Pacific

In 2021, the Asia-Pacific bearing market decreased by -2.5% to $X, falling for the third year in a row after three years of growth. Over the period under review, consumption showed a mild slump. The most prominent rate of growth was recorded in 2017 with an increase of 5.6% against the previous year. The level of consumption peaked at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Bearing Production in Asia-Pacific

In value terms, bearing production rose slightly to $X in 2021 estimated in export price. In general, production recorded a relatively flat trend pattern. The growth pace was the most rapid in 2014 when the production volume increased by 6.7% against the previous year. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Bearing Exports

Exports in Asia-Pacific

Bearing exports surged to X tons in 2021, increasing by 31% on the previous year's figure. Overall, exports continue to indicate strong growth. The pace of growth appeared the most rapid in 2019 with an increase of 89% against the previous year. The volume of export peaked in 2021 and is likely to continue growth in years to come.

In value terms, bearing exports surged to $X in 2021. The total export value increased at an average annual rate of +2.0% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with only minor fluctuations being recorded 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

In 2021, China (X tons) represented the major exporter of ball and roller bearings, achieving 65% of total exports. Japan (X tons) held a 17% share (based on physical terms) of total exports, which put it in second place, followed by South Korea (5.6%). The following exporters - Singapore (X tons), India (X tons) and Thailand (X tons) - together made up 7.7% of total exports.

China was also the fastest-growing in terms of the ball and roller bearings exports, with a CAGR of +20.2% from 2012 to 2021. At the same time, Thailand (+9.6%), India (+9.2%) and South Korea (+3.5%) displayed positive paces of growth. Japan experienced a relatively flat trend pattern. By contrast, Singapore (-3.5%) illustrated a downward trend over the same period. China (+37 p.p.) significantly strengthened its position in terms of the total exports, while South Korea, Singapore and Japan saw its share reduced by -3.5%, -7.9% and -19.7% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest bearing supplying countries in Asia-Pacific were China ($X), Japan ($X) and Singapore ($X), with a combined 76% share of total exports. South Korea, Thailand and India lagged somewhat behind, together comprising a further 14%.

Thailand, with a CAGR of +9.2%, recorded the highest growth rate of 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 2021, the export price in Asia-Pacific amounted to $X per ton, flattening at the previous year. Overall, the export price continues to indicate a deep contraction. The most prominent rate of growth was recorded in 2020 when the export price increased by 16%. Over the period under review, the export prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, 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 South Korea (+1.2%), while the other leaders experienced a decline in the export price figures.

Bearing Imports

Imports in Asia-Pacific

In 2021, imports of ball and roller bearings in Asia-Pacific skyrocketed to X tons, increasing by 21% on the previous year. The total import volume increased at an average annual rate of +2.3% from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. Over the period under review, imports attained the maximum at X tons in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, bearing imports soared to $X in 2021. The total import value increased at an average annual rate of +1.4% from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

China represented the main importer of ball and roller bearings in Asia-Pacific, with the volume of imports accounting for X tons, which was near 35% of total imports in 2021. India (X tons) ranks second in terms of the total imports with a 9.4% share, followed by South Korea (9.4%), Indonesia (9.4%), Singapore (6.8%) and Japan (5.1%). Thailand (X tons), Taiwan (Chinese) (X tons), Hong Kong SAR (X tons), Vietnam (X tons), Malaysia (X tons), Australia (X tons) and Bangladesh (X tons) followed a long way behind the leaders.

Imports into China increased at an average annual rate of +5.2% from 2012 to 2021. At the same time, Bangladesh (+29.6%), Vietnam (+17.7%), India (+4.4%), Indonesia (+2.1%), Japan (+1.6%) and Taiwan (Chinese) (+1.1%) displayed positive paces of growth. Moreover, Bangladesh emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +29.6% from 2012-2021. South Korea, Malaysia and Thailand experienced a relatively flat trend pattern. By contrast, Hong Kong SAR (-2.8%), Australia (-4.2%) and Singapore (-4.6%) illustrated a downward trend over the same period. China (+7.8 p.p.), Vietnam (+2.1 p.p.), Bangladesh (+1.6 p.p.) and India (+1.6 p.p.) significantly strengthened its position in terms of the total imports, while Hong Kong SAR and Singapore saw its share reduced by -2.3% and -5.9% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported ball and roller bearings in Asia-Pacific, comprising 41% of total imports. The second position in the ranking was held by India ($X), with a 9.9% share of total imports. It was followed by South Korea, with a 7.5% share.

From 2012 to 2021, the average annual growth rate of value in China stood at +5.2%. In the other countries, the average annual rates were as follows: India (+3.8% per year) and South Korea (-1.0% per year).

Import Prices by Country

In 2021, the import price in Asia-Pacific amounted to $X per ton, rising by 1.9% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2020 when the import price increased by 24% against the previous year. 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 by country of destination: amid the top importers, the country with the highest price was China ($X per ton), while Bangladesh ($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 (+0.0%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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