Asia-Pacific: Spherical Roller Bearing Market 2024

Spherical Roller Bearing Market Size in Asia-Pacific

In 2021, the Asia-Pacific spherical roller bearing market decreased by -7.5% to $X, falling for the second consecutive year after four years of growth. The market value increased at an average annual rate of +3.0% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level of $X. From 2020 to 2021, the growth of the market failed to regain momentum.

Spherical Roller Bearing Production in Asia-Pacific

In value terms, spherical roller bearing production reached $X in 2021 estimated in export price. The total output value increased at an average annual rate of +4.1% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2019 when the production volume increased by 20%. As a result, production attained the peak level of $X; afterwards, it flattened through to 2021.

Spherical Roller Bearing Exports

Exports in Asia-Pacific

Spherical roller bearing exports surged to X tons in 2021, rising by 27% on the previous year's figure. Total exports indicated a tangible increase from 2012 to 2021: its volume increased at an average annual rate of +4.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +60.1% against 2016 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, spherical roller bearing exports reached $X in 2021. Overall, exports, however, saw a mild setback. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

China represented the key exporting country with an export of around X tons, which finished at 51% of total exports. Japan (X tons) took a 25% share (based on physical terms) of total exports, which put it in second place, followed by Singapore (10%) and Malaysia (7%). The following exporters - Thailand (X tons) and India (X tons) - each amounted to a 4% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Thailand (with a CAGR of +47.7%), while the other leaders experienced more modest paces of growth.

In value terms, the largest spherical roller bearing supplying countries in Asia-Pacific were China ($X), Japan ($X) and Singapore ($X), together accounting for 79% of total exports. These countries were followed by Malaysia, India and Thailand, which together accounted for a further 16%.

Among the main exporting countries, Thailand, with a CAGR of +28.5%, 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, which is down by -11.2% against the previous year. In general, the export price showed a deep setback. The growth pace was the most rapid in 2018 when the export price increased by 2.8%. 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 India ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (-0.1%), while the other leaders experienced a decline in the export price figures.

Spherical Roller Bearing Imports

Imports in Asia-Pacific

For the sixth year in a row, Asia-Pacific recorded growth in overseas purchases of spherical roller bearings, which increased by 7% to X tons in 2021. The total import volume increased at an average annual rate of +1.9% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when imports increased by 13% against the previous year. Over the period under review, imports attained the maximum in 2021 and are expected to retain growth in the immediate term.

In value terms, spherical roller bearing imports stood at $X in 2021. Over the period under review, imports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of 17%. The level of import peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) was the major importer of spherical roller bearings, achieving 36% of total imports. India (X tons) took a 14% share (based on physical terms) of total imports, which put it in second place, followed by South Korea (11%), Singapore (9.8%), Thailand (7%) and Indonesia (5.2%). Malaysia (X tons) took a minor share of total imports.

From 2012 to 2021, average annual rates of growth with regard to spherical roller bearing imports into China stood at +3.9%. At the same time, Thailand (+8.3%), Malaysia (+6.3%), India (+5.8%) and Indonesia (+2.2%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +8.3% from 2012-2021. By contrast, South Korea (-1.9%) and Singapore (-6.5%) illustrated a downward trend over the same period. China (+5.8 p.p.), India (+3.9 p.p.) and Thailand (+3 p.p.) significantly strengthened its position in terms of the total imports, while South Korea and Singapore saw its share reduced by -4.3% and -11.3% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported spherical roller bearings in Asia-Pacific, comprising 36% of total imports. The second position in the ranking was taken by India ($X), with a 17% share of total imports. It was followed by Singapore, with an 11% share.

In China, spherical roller bearing imports remained relatively stable over the period from 2012-2021. In the other countries, the average annual rates were as follows: India (+4.1% per year) and Singapore (-7.9% per year).

Import Prices by Country

In 2021, the import price in Asia-Pacific amounted to $X per ton, remaining stable against the previous year. Over the period under review, the import price, however, showed a noticeable reduction. The growth pace was the most rapid in 2018 when the import price increased by 5.1%. The level of import peaked at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+6.7%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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