Asia-Pacific: Ball Bearing Parts Market 2022

Ball Bearing Parts Market Size in Asia-Pacific

The Asia-Pacific ball bearing parts market contracted slightly to $X in 2021, almost unchanged from the previous year. The market value increased at an average annual rate of +1.2% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. As a result, consumption attained the peak level of $X. From 2018 to 2021, the growth of the market remained at a somewhat lower figure.

Ball Bearing Parts Production in Asia-Pacific

In value terms, ball bearing parts production expanded modestly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.1% from 2012 to 2021; however, the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when the production volume increased by 12% against the previous year. Over the period under review, production reached the peak level at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Ball Bearing Parts Exports

Exports in Asia-Pacific

In 2021, overseas shipments of parts of ball or roller bearings increased by 40% to X tons for the first time since 2018, thus ending a two-year declining trend. The total export volume increased at an average annual rate of +4.6% from 2012 to 2021; however, the trend pattern indicated some noticeable 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.

In value terms, ball bearing parts exports surged to $X in 2021. The total export value increased at an average annual rate of +1.8% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. 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 key exporter of parts of ball or roller bearings, making up 59% of total exports. Japan (X tons) held the second position in the ranking, distantly followed by India (X tons) and South Korea (X tons). All these countries together took approx. 37% share of total exports. Taiwan (Chinese) (X tons) held a relatively small share of total exports.

Exports from China increased at an average annual rate of +7.8% from 2012 to 2021. At the same time, South Korea (+8.2%) and India (+7.4%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +8.2% from 2012-2021. Taiwan (Chinese) experienced a relatively flat trend pattern. By contrast, Japan (-2.3%) illustrated a downward trend over the same period. China (+14 p.p.), South Korea (+2.2 p.p.) and India (+1.8 p.p.) significantly strengthened its position in terms of the total exports, while Japan saw its share reduced by -17.3% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X), Japan ($X) and India ($X) constituted the countries with the highest levels of exports in 2021, with a combined 83% share of total exports. South Korea and Taiwan (Chinese) lagged somewhat behind, together accounting for a further 10%.

South Korea, with a CAGR of +6.6%, recorded the highest rates of growth with regard to 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, increasing by 4.4% against the previous year. Over the period under review, the export price, however, continues to indicate a pronounced decrease. The growth pace was the most rapid in 2018 an increase of 5.3% against the previous year. Over the period under review, the export prices attained the maximum at $X per ton in 2012; however, from 2013 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 Taiwan (Chinese) ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (-0.2%), while the other leaders experienced a decline in the export price figures.

Ball Bearing Parts Imports

Imports in Asia-Pacific

In 2021, ball bearing parts imports in Asia-Pacific surged to X tons, growing by 39% against 2020 figures. The total import volume increased at an average annual rate of +3.7% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, ball bearing parts imports surged to $X in 2021. The total import value increased at an average annual rate of +3.8% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable 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 represented the major importer of parts of ball or roller bearings in Asia-Pacific, with the volume of imports accounting for X tons, which was approx. 39% of total imports in 2021. India (X tons) held a 16% share (based on physical terms) of total imports, which put it in second place, followed by South Korea (9%), Thailand (7.4%), Japan (6.6%), Malaysia (4.9%) and Indonesia (4.8%).

From 2012 to 2021, average annual rates of growth with regard to ball bearing parts imports into China stood at +7.5%. At the same time, India (+9.9%), Indonesia (+1.8%), Japan (+1.2%) and Malaysia (+1.0%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +9.9% from 2012-2021. By contrast, South Korea (-1.0%) and Thailand (-5.3%) illustrated a downward trend over the same period. From 2012 to 2021, the share of China and India increased by +11 and +6.4 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported parts of ball or roller bearings in Asia-Pacific, comprising 46% of total imports. The second position in the ranking was held by India ($X), with an 11% share of total imports. It was followed by Japan, with a 7.5% share.

In China, ball bearing parts imports expanded at an average annual rate of +8.6% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: India (+6.3% per year) and Japan (+1.5% per year).

Import Prices by Country

The import price in Asia-Pacific stood at $X per ton in 2021, with an increase of 6.3% against the previous year. In general, the import price saw a relatively flat trend pattern. The level of import peaked at $X per ton in 2019; however, from 2020 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was China ($X per ton), while India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+2.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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