Asia-Pacific: Bearing Market 2024

Bearing Market Size in Asia-Pacific

The Asia-Pacific bearing market shrank to $X in 2022, reducing by X% against the previous year. Over the period under review, consumption saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the market value increased by X% against the previous year. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market remained at a somewhat lower figure.

Bearing Production in Asia-Pacific

In value terms, bearing production contracted modestly to $X in 2022 estimated in export price. In general, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2020 to 2022, production growth remained at a somewhat lower figure.

Bearing Exports

Exports in Asia-Pacific

In 2022, the amount of ball or roller bearings exported in Asia-Pacific totaled X tons, approximately reflecting 2021. Over the period under review, exports saw a buoyant increase. The growth pace was the most rapid in 2019 when exports increased by X% against the previous year. The volume of export peaked in 2022 and is expected to retain growth in the near future.

In value terms, bearing exports dropped to $X in 2022. The total export value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The pace of growth was the most pronounced in 2021 when exports increased by X%. As a result, the exports reached the peak of $X, and then dropped slightly in the following year.

Exports by Country

China was the major exporter of ball or roller bearings in Asia-Pacific, with the volume of exports resulting at X tons, which was approx. X% of total exports in 2022. Japan (X tons) took a X% share (based on physical terms) of total exports, which put it in second place, followed by South Korea (X%). Singapore (X tons), India (X tons), Thailand (X tons) and Taiwan (Chinese) (X tons) took a minor share of total exports.

China was also the fastest-growing in terms of the ball or roller bearings exports, with a CAGR of X% from 2012 to 2022. At the same time, India (X%), Thailand (X%), Taiwan (Chinese) (X%) and South Korea (X%) displayed positive paces of growth. Japan experienced a relatively flat trend pattern. By contrast, Singapore (X%) illustrated a downward trend over the same period. While the share of China (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of South Korea (X p.p.), Singapore (X p.p.) and Japan (X 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 Singapore ($X) were the countries with the highest levels of exports in 2022, together accounting for X% of total exports. South Korea, India, Thailand and Taiwan (Chinese) lagged somewhat behind, together accounting for a further X%.

India, with a CAGR of X%, 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

In 2022, the export price in Asia-Pacific amounted to $X per ton, declining by X% against the previous year. Over the period under review, the export price continues to indicate a abrupt slump. The pace of growth was the most pronounced in 2020 an increase of X% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2013; however, from 2014 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 Singapore ($X per ton), while China ($X per ton) was amongst the lowest.

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

Bearing Imports

Imports in Asia-Pacific

In 2022, the amount of ball or roller bearings imported in Asia-Pacific was estimated at X tons, surging by X% compared with the year before. Total imports indicated a resilient increase from 2012 to 2022: its volume increased at an average annual rate of X% 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 X% against 2015 indices. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. The volume of import peaked in 2022 and is expected to retain growth in the near future.

In value terms, bearing imports shrank to $X in 2022. Over the period under review, imports showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 when imports increased by X%. As a result, imports attained the peak of $X, and then shrank in the following year.

Imports by Country

In 2022, Thailand (X tons), distantly followed by China (X tons), India (X tons), Indonesia (X tons) and South Korea (X tons) represented the key importers of ball or roller bearings, together making up X% of total imports. Singapore (X tons), Japan (X tons), Taiwan (Chinese) (X tons), Australia (X tons), Vietnam (X tons), Malaysia (X tons) and Hong Kong SAR (X tons) followed a long way behind the leaders.

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

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

In China, bearing imports expanded at an average annual rate of X% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: India (X% per year) and South Korea (X% per year).

Import Prices by Country

In 2022, the import price in Asia-Pacific amounted to $X per ton, dropping by X% against the previous year. Overall, the import price recorded a deep slump. The pace of growth appeared the most rapid in 2014 an increase of X% 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 Hong Kong SAR ($X per ton), while Thailand ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :