Asia-Pacific: Tapered Roller Bearing Market 2024

Tapered Roller Bearing Market Size in Asia-Pacific

In 2021, the Asia-Pacific tapered roller bearing market decreased by -7.7% to $X, falling for the third consecutive year after three years of growth. Overall, consumption showed a relatively flat trend pattern. The level of consumption peaked at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Tapered Roller Bearing Production in Asia-Pacific

In value terms, tapered roller bearing production rose remarkably to $X in 2021 estimated in export price. Over the period under review, production continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 with an increase of 8.6%. Over the period under review, production reached the maximum level at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Tapered Roller Bearing Exports

Exports in Asia-Pacific

In 2021, approx. X tons of tapered roller bearings were exported in Asia-Pacific; with an increase of 62% compared with the previous year. Over the period under review, exports saw strong growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, tapered roller bearing exports soared 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 consistent, with somewhat noticeable fluctuations being observed 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

In 2021, China (X tons) represented the main exporter of tapered roller bearings, mixing up 53% of total exports. It was distantly followed by Japan (X tons), South Korea (X tons) and India (X tons), together creating a 39% share of total exports. The following exporters - Singapore (X tons) and Thailand (X tons) - together made up 6.4% of total exports.

From 2012 to 2021, average annual rates of growth with regard to tapered roller bearing exports from China stood at +17.1%. At the same time, Thailand (+26.3%), India (+13.6%), South Korea (+8.3%) and Singapore (+3.5%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +26.3% from 2012-2021. Japan experienced a relatively flat trend pattern. While the share of China (+26 p.p.), India (+2.3 p.p.) and Thailand (+2 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Singapore (-1.9 p.p.) and Japan (-27.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest tapered roller bearing supplying countries in Asia-Pacific were Japan ($X), China ($X) and India ($X), together accounting for 80% of total exports. South Korea, Singapore and Thailand lagged somewhat behind, together comprising a further 17%.

Thailand, with a CAGR of +13.8%, recorded the highest growth rate of the value of exports, in terms of 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, which is down by -15.8% against the previous year. Over the period under review, the export price continues to indicate a abrupt curtailment. The most prominent rate of growth was recorded in 2018 when the export price increased by 4.4% 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.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (-0.4%), while the other leaders experienced a decline in the export price figures.

Tapered Roller Bearing Imports

Imports in Asia-Pacific

Tapered roller bearing imports surged to X tons in 2021, rising by 23% against the previous year's figure. Total imports indicated a buoyant expansion from 2012 to 2021: its volume increased at an average annual rate of +5.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +20.3% against 2018 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, tapered roller bearing imports soared to $X in 2021. Total imports indicated a tangible increase from 2012 to 2021: its value increased at an average annual rate of +4.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +85.2% against 2016 indices. 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 tapered roller bearings in Asia-Pacific, with the volume of imports reaching X tons, which was near 43% of total imports in 2021. It was distantly followed by India (X tons), Singapore (X tons), Thailand (X tons), Australia (X tons) and South Korea (X tons), together mixing up a 38% share of total imports. Indonesia (X tons) held a relatively small share of total imports.

China was also the fastest-growing in terms of the tapered roller bearings imports, with a CAGR of +11.1% from 2012 to 2021. At the same time, Thailand (+10.4%), Indonesia (+5.7%), Australia (+3.6%) and India (+3.1%) displayed positive paces of growth. Singapore experienced a relatively flat trend pattern. By contrast, South Korea (-2.5%) illustrated a downward trend over the same period. China (+16 p.p.) and Thailand (+2.3 p.p.) significantly strengthened its position in terms of the total imports, while India, South Korea and Singapore saw its share reduced by -2.3%, -5.4% and -6.5% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported tapered roller bearings in Asia-Pacific, comprising 52% of total imports. The second position in the ranking was taken by India ($X), with a 9.4% share of total imports. It was followed by Singapore, with a 7.9% share.

From 2012 to 2021, the average annual growth rate of value in China stood at +11.7%. In the other countries, the average annual rates were as follows: India (+0.2% per year) and Singapore (-2.1% per year).

Import Prices by Country

The import price in Asia-Pacific stood at $X per ton in 2021, stabilizing at the previous year. Overall, the import price, however, saw a mild downturn. The most prominent rate of growth was recorded in 2019 an increase of 9.4%. Over the period under review, import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat 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 ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+0.6%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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