Asia-Pacific: Roller Bearing Market 2022

Roller Bearing Market Size in Asia-Pacific

The Asia-Pacific roller bearing market declined slightly to $X in 2021, which is down by -3.6% against the previous year. The total consumption indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +5.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +33.9% against 2016 indices. The level of consumption peaked at $X in 2020, and then contracted slightly in the following year.

Roller Bearing Production in Asia-Pacific

In value terms, roller bearing production dropped to $X in 2021 estimated in export price. The total production indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +5.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -5.9% against 2018 indices. The pace of growth was the most pronounced in 2013 when the production volume increased by 20%. Over the period under review, production reached the peak level at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Roller Bearing Exports

Exports in Asia-Pacific

In 2021, the amount of roller bearings exported in Asia-Pacific soared to X tons, with an increase of 39% on the previous year. The total export volume increased at an average annual rate of +2.1% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The volume of export peaked at X tons in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

In value terms, roller bearing exports skyrocketed to $X in 2021. Overall, exports, however, continue to indicate a relatively flat trend pattern. The level of export peaked at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

China represented the main exporter of roller bearings in Asia-Pacific, with the volume of exports resulting at X tons, which was approx. 49% of total exports in 2021. It was distantly followed by Singapore (X tons), South Korea (X tons) and Vietnam (X tons), together making up a 30% share of total exports. Indonesia (X tons), Japan (X tons), Taiwan (Chinese) (X tons), Hong Kong SAR (X tons), India (X tons), Thailand (X tons) and Malaysia (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to roller bearing exports from China stood at +16.0%. At the same time, Indonesia (+25.9%), Vietnam (+16.3%), Singapore (+12.1%), Malaysia (+8.2%) and Thailand (+6.6%) displayed positive paces of growth. Moreover, Indonesia emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +25.9% from 2012-2021. Taiwan (Chinese) experienced a relatively flat trend pattern. By contrast, India (-3.6%), Hong Kong SAR (-8.1%), South Korea (-10.7%) and Japan (-18.8%) illustrated a downward trend over the same period. China (+33 p.p.), Singapore (+10 p.p.), Vietnam (+3.8 p.p.) and Indonesia (+3.7 p.p.) significantly strengthened its position in terms of the total exports, while Hong Kong SAR, South Korea and Japan saw its share reduced by -5.2%, -16.3% and -27.6% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X), Singapore ($X) and Vietnam ($X) appeared to be the countries with the highest levels of exports in 2021, together comprising 69% of total exports.

Vietnam, with a CAGR of +23.6%, saw 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

In 2021, the export price in Asia-Pacific amounted to $X per ton, declining by -14.2% against the previous year. Overall, the export price saw a pronounced decline. The pace of growth appeared the most rapid in 2016 when the export price increased by 10% against the previous year. The level of export peaked at $X per ton in 2018; however, from 2019 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 Hong Kong SAR ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+6.3%), while the other leaders experienced more modest paces of growth.

Roller Bearing Imports

Imports in Asia-Pacific

In 2021, the amount of roller bearings imported in Asia-Pacific soared to X tons, growing by 29% against 2020 figures. The total import volume increased at an average annual rate of +1.7% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, roller bearing imports soared to $X in 2021. Over the period under review, imports, however, saw a pronounced descent. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

Thailand was the largest importing country with an import of around X tons, which accounted for 37% of total imports. Indonesia (X tons) held a 20% share (based on physical terms) of total imports, which put it in second place, followed by India (9.5%), South Korea (8.1%) and China (4.6%). Vietnam (X tons), Malaysia (X tons), Hong Kong SAR (X tons), Singapore (X tons), Australia (X tons) and the Philippines (X tons) took a minor share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Thailand (with a CAGR of +19.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest roller bearing importing markets in Asia-Pacific were China ($X), India ($X) and Indonesia ($X), with a combined 47% share of total imports. Thailand, South Korea, Singapore, Malaysia, Hong Kong SAR, Australia, Vietnam and the Philippines lagged somewhat behind, together comprising a further 43%.

The Philippines, with a CAGR of +5.8%, recorded the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in Asia-Pacific amounted to $X per ton, falling by -2.6% against the previous year. Over the period under review, the import price recorded a noticeable decline. The pace of growth was the most pronounced in 2016 an increase of 3.7% against the previous year. Over the period under review, import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (+12.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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