Asia: Ball Bearing Parts Market 2022

Ball Bearing Parts Market Size in Asia

The Asian ball bearing parts market fell slightly to $X in 2021, approximately equating the previous year. The market value increased at an average annual rate of +1.1% over the period from 2012 to 2021; however, the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. As a result, consumption reached the peak level of $X. From 2018 to 2021, the growth of the market remained at a lower figure.

Ball Bearing Parts Production in Asia

In value terms, ball bearing parts production expanded 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 relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of 13% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Ball Bearing Parts Exports

Exports in Asia

In 2021, after two years of decline, there was significant growth in overseas shipments of parts of ball or roller bearings, when their volume increased by 40% to X tons. 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 in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, ball bearing parts exports soared to $X in 2021. The total export value 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 in certain years. 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) was the major exporter of parts of ball or roller bearings, achieving 58% of total exports. Japan (X tons) took the second position in the ranking, distantly followed by India (X tons) and South Korea (X tons). All these countries together held near 37% share of total exports. Taiwan (Chinese) (X tons) held a minor 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, 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. From 2012 to 2021, the share of China, South Korea and India increased by +14, +2.2 and +1.7 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X), Japan ($X) and India ($X) appeared to be the countries with the highest levels of exports in 2021, together comprising 82% of total exports. South Korea and Taiwan (Chinese) lagged somewhat behind, together comprising a further 10%.

South Korea, with a CAGR of +6.6%, recorded 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

The export price in Asia stood at $X per ton in 2021, rising by 4.8% against the previous year. Overall, the export price, however, recorded a perceptible decrease. The growth pace was the most rapid in 2018 when the export price increased by 5.3%. Over the period under review, the export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of origin: 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

In 2021, approx. X tons of parts of ball or roller bearings were imported in Asia; rising by 38% on the year before. The total import volume increased at an average annual rate of +3.9% 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 skyrocketed to $X in 2021. The total import value increased at an average annual rate of +3.7% 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.

Imports by Country

In 2021, China (X tons) represented the major importer of parts of ball or roller bearings, mixing up 37% of total imports. India (X tons) held the second position in the ranking, followed by South Korea (X tons), Thailand (X tons), Japan (X tons), Malaysia (X tons) and Indonesia (X tons). All these countries together held approx. 46% share of total imports.

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, 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. While the share of China (+9.7 p.p.) and India (+6 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Japan (-1.7 p.p.), South Korea (-4.8 p.p.) and Thailand (-9.2 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported parts of ball or roller bearings in Asia, comprising 45% of total imports. The second position in the ranking was held by India ($X), with a 10% share of total imports. It was followed by Japan, with a 7.3% share.

In China, ball bearing parts imports expanded at an average annual rate of +8.6% over the period from 2012-2021. In the other countries, the average annual rates were as follows: India (+6.3% per year) and Japan (+1.5% per year).

Import Prices by Country

The import price in Asia stood at $X per ton in 2021, increasing by 5.7% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. Over the period under review, import prices hit record highs at $X per ton in 2019; however, from 2020 to 2021, import prices stood at a somewhat 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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