Asia-Pacific: Ball Bearing Market 2024

Ball Bearing Market Size in Asia-Pacific

In 2021, the Asia-Pacific ball bearing market decreased by -12.5% to $X, falling for the second year in a row after three years of growth. The market value increased at an average annual rate of +1.3% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $X. From 2020 to 2021, the growth of the market remained at a lower figure.

Ball Bearing Production in Asia-Pacific

In value terms, ball bearing production expanded modestly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.4% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2019 when the production volume increased by 18% against the previous year. As a result, production attained the peak level of $X. From 2020 to 2021, production growth remained at a somewhat lower figure.

Ball Bearing Exports

Exports in Asia-Pacific

For the third year in a row, Asia-Pacific recorded growth in shipments abroad of ball bearings, which increased by 69% to X tons in 2021. Over the period under review, exports saw a strong increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, ball bearing exports soared to $X in 2021. The total export value increased at an average annual rate of +3.4% from 2012 to 2021; however, the trend pattern remained consistent, with only minor fluctuations being observed in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, China (X tons) represented the key exporter of ball bearings, comprising 68% of total exports. It was distantly followed by Japan (X tons) and South Korea (X tons), together mixing up a 22% share of total exports. The following exporters - Thailand (X tons) and Taiwan (Chinese) (X tons) - together made up 4.4% of total exports.

China was also the fastest-growing in terms of the ball bearings exports, with a CAGR of +18.6% from 2012 to 2021. At the same time, Thailand (+8.3%) and South Korea (+2.3%) displayed positive paces of growth. Taiwan (Chinese) and Japan experienced a relatively flat trend pattern. While the share of China (+35 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Taiwan (Chinese) (-2 p.p.), South Korea (-5.2 p.p.) and Japan (-18 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X), Japan ($X) and South Korea ($X) constituted the countries with the highest levels of exports in 2021, with a combined 79% share of total exports. These countries were followed by Thailand and Taiwan (Chinese), which together accounted for a further 8%.

In terms of the main exporting countries, Thailand, with a CAGR of +9.0%, recorded the highest growth rate of the value of exports, 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-Pacific stood at $X per ton in 2021, shrinking by -21.6% against the previous year. In general, the export price showed a deep downturn. The most prominent rate of growth was recorded in 2018 when the export price increased by 6% against the previous year. Over the period under review, the export prices attained the maximum at $X per ton in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, 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 Taiwan (Chinese) (+2.7%), while the other leaders experienced more modest paces of growth.

Ball Bearing Imports

Imports in Asia-Pacific

In 2021, supplies from abroad of ball bearings increased by 24% to X tons for the first time since 2018, thus ending a two-year declining trend. The total import volume increased at an average annual rate of +2.1% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations in certain years. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, ball bearing imports surged to $X in 2021. The total import value increased at an average annual rate of +2.1% from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

China was the largest importer of ball bearings in Asia-Pacific, with the volume of imports reaching X tons, which was near 29% of total imports in 2021. It was distantly followed by Indonesia (X tons), South Korea (X tons), India (X tons), Japan (X tons), Singapore (X tons), Thailand (X tons), Taiwan (Chinese) (X tons) and Hong Kong SAR (X tons), together making up a 59% share of total imports.

Imports into China increased at an average annual rate of +4.2% from 2012 to 2021. At the same time, India (+5.1%), Indonesia (+4.0%), Japan (+2.7%), Thailand (+1.8%), South Korea (+1.8%) and Taiwan (Chinese) (+1.5%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +5.1% from 2012-2021. By contrast, Hong Kong SAR (-1.6%) and Singapore (-4.7%) illustrated a downward trend over the same period. China (+4.8 p.p.), India (+2 p.p.) and Indonesia (+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 -1.8% and -5.5% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported ball bearings in Asia-Pacific, comprising 37% of total imports. The second position in the ranking was taken by India ($X), with a 9.7% share of total imports. It was followed by Japan, with a 7.5% share.

In China, ball bearing imports expanded at an average annual rate of +6.4% over the period from 2012-2021. In the other countries, the average annual rates were as follows: India (+5.7% per year) and Japan (+0.6% per year).

Import Prices by Country

The import price in Asia-Pacific stood at $X per ton in 2021, rising by 6.3% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 an increase of 11%. The level of import peaked in 2021 and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was China ($X per ton), while Indonesia ($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 (+2.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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