Asia-Pacific: Cylindrical Roller Bearing Market 2024

Cylindrical Roller Bearing Market Size in Asia-Pacific

The Asia-Pacific cylindrical roller bearing market dropped to $X in 2022, which is down by -5% against the previous year. Overall, consumption, however, recorded a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market remained at a somewhat lower figure.

Cylindrical Roller Bearing Production in Asia-Pacific

In value terms, cylindrical roller bearing production shrank to $X in 2022 estimated in export price. In general, production, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the production volume increased by 20% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Cylindrical Roller Bearing Exports

Exports in Asia-Pacific

For the sixth year in a row, Asia-Pacific recorded growth in overseas shipments of cylindrical roller bearings, which increased by 5.1% to X tons in 2022. In general, exports posted strong growth. The most prominent rate of growth was recorded in 2014 with an increase of 26%. 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 shrank modestly to $X in 2022. The total export value increased at an average annual rate of +1.7% over the period from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations in certain years. The pace of growth was the most pronounced in 2014 when exports increased by 24% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2021, and then reduced modestly in the following year.

Exports by Country

China (X tons) and Japan (X tons) represented roughly 76% of total exports in 2022. It was distantly followed by Taiwan (Chinese) (X tons) and Hong Kong SAR (X tons), together making up a 15% share of total exports. India (X tons), South Korea (X tons) and Singapore (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Taiwan (Chinese) (with a CAGR of +43.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), China ($X) and Hong Kong SAR ($X) constituted the countries with the highest levels of exports in 2022, with a combined 78% share of total exports. India, Taiwan (Chinese), South Korea and Singapore lagged somewhat behind, together comprising a further 20%.

Taiwan (Chinese), with a CAGR of +34.6%, 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

The export price in Asia-Pacific stood at $X per ton in 2022, shrinking by -7% against the previous year. In general, the export price recorded a pronounced contraction. The growth pace was the most rapid in 2017 when the export price increased by 5.3%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Singapore ($X per ton), while Taiwan (Chinese) ($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-Pacific

In 2022, overseas purchases of cylindrical roller bearings decreased by -11.1% to X tons for the first time since 2019, thus ending a two-year rising trend. Total imports indicated measured growth from 2012 to 2022: its volume increased at an average annual rate of +3.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when imports increased by 19% against the previous year. The volume of import peaked at X tons in 2021, and then declined in the following year.

In value terms, cylindrical roller bearing imports dropped to $X in 2022. The total import value increased at an average annual rate of +1.9% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2017 when imports increased by 12%. Over the period under review, imports hit record highs at $X in 2021, and then fell in the following year.

Imports by Country

China dominates imports structure, accounting for X tons, which was near 54% of total imports in 2022. It was distantly followed by Thailand (X tons), South Korea (X tons) and Indonesia (X tons), together committing a 23% share of total imports. India (X tons), Hong Kong SAR (X tons), Singapore (X tons), Japan (X tons), Australia (X tons), Taiwan (Chinese) (X tons) and Malaysia (X tons) followed a long way behind the leaders.

Imports into China increased at an average annual rate of +2.8% from 2012 to 2022. 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 Australia (+3.8%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing importer imported in Asia-Pacific, 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 (+6.4 p.p.), Hong Kong SAR (+3 p.p.) and Indonesia (+2.8 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 -1.8%, -3.2%, -3.9% and -6.2% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported cylindrical roller bearings in Asia-Pacific, comprising 56% of total imports. The second position in the ranking was taken by South Korea ($X), with a 7.9% share of total imports. It was followed by India, with a 5.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value in China was relatively modest. In the other countries, the average annual rates were as follows: South Korea (-0.2% per year) and India (+7.1% per year).

Import Prices by Country

In 2022, the import price in Asia-Pacific amounted to $X per ton, increasing by 4.8% against the previous year. In general, the import price, however, showed a slight decline. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, 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 Australia (+1.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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