Asia-Pacific: Needle Roller Bearing Market 2024

Needle Roller Bearing Market Size in Asia-Pacific

In 2021, the Asia-Pacific needle roller bearing market increased by 140% to $X, rising for the sixth year in a row after two years of decline. Overall, consumption saw a significant expansion. The level of consumption peaked in 2021 and is likely to see gradual growth in the immediate term.

Needle Roller Bearing Production in Asia-Pacific

In value terms, needle roller bearing production contracted remarkably to $X in 2021 estimated in export price. Over the period under review, production saw a strong increase. The pace of growth was the most pronounced in 2020 with an increase of 368%. As a result, production attained the peak level of $X, and then reduced notably in the following year.

Needle Roller Bearing Exports

Exports in Asia-Pacific

For the third consecutive year, Asia-Pacific recorded growth in shipments abroad of needle roller bearings, which increased by 48% to X tons in 2021. Total exports indicated a prominent increase from 2012 to 2021: its volume increased at an average annual rate of +8.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +45.5% against 2017 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, needle roller bearing exports surged to $X in 2021. The total export value increased at an average annual rate of +2.1% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

China was the largest exporter of needle roller bearings in Asia-Pacific, with the volume of exports resulting at X tons, which was near 46% of total exports in 2021. Japan (X tons) ranks second in terms of the total exports with a 30% share, followed by South Korea (8.7%) and Thailand (8.1%). The following exporters - Taiwan (Chinese) (X tons) and Hong Kong SAR (X tons) - each amounted to a 4.1% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Thailand (with a CAGR of +31.8%), while the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), China ($X) and South Korea ($X) appeared to be the countries with the highest levels of exports in 2021, with a combined 85% share of total exports.

Among the main exporting countries, South Korea, with a CAGR of +24.6%, recorded the highest rates of growth with regard to 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

In 2021, the export price in Asia-Pacific amounted to $X per ton, waning by -11.2% against the previous year. Over the period under review, the export price continues to indicate a deep contraction. The most prominent rate of growth was recorded in 2018 an increase of 8.9% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, 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 2021, the most notable rate of growth in terms of prices was attained by South Korea (+3.6%), while the other leaders experienced a decline in the export price figures.

Needle Roller Bearing Imports

Imports in Asia-Pacific

In 2021, supplies from abroad of needle roller bearings was finally on the rise to reach X tons for the first time since 2016, thus ending a four-year declining trend. The total import volume increased at an average annual rate of +1.3% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The volume of import peaked at X tons in 2016; however, from 2017 to 2021, imports remained at a lower figure.

In value terms, needle roller bearing imports skyrocketed to $X in 2021. Overall, imports showed a relatively flat trend pattern. Over the period under review, imports reached the peak figure at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

China (X tons), South Korea (X tons), Indonesia (X tons), Japan (X tons), Thailand (X tons), India (X tons), Hong Kong SAR (X tons) and Taiwan (Chinese) (X tons) represented roughly 90% of total imports in 2021.

From 2012 to 2021, the biggest increases were in India (with a CAGR of +9.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest needle roller bearing importing markets in Asia-Pacific were China ($X), South Korea ($X) and Japan ($X), together accounting for 55% of total imports. These countries were followed by Thailand, India, Indonesia, Hong Kong SAR and Taiwan (Chinese), which together accounted for a further 34%.

Among the main importing countries, India, with a CAGR of +7.9%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Asia-Pacific stood at $X per ton in 2021, therefore, remained relatively stable against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 when the import price increased by 11% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

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 (+1.9%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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