Asia: Roller Bearing Market 2022

Roller Bearing Market Size in Asia

The Asian roller bearing market dropped to $X in 2021, declining by -3.2% against the previous year. The total consumption indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +5.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +31.8% against 2016 indices. Over the period under review, the market attained the maximum level at $X in 2020, and then reduced modestly in the following year.

Roller Bearing Production in Asia

In value terms, roller bearing production declined to $X in 2021 estimated in export price. The total production indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +5.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -7.6% against 2018 indices. The most prominent rate of growth was recorded in 2013 when the production volume increased by 21%. Over the period under review, production attained the maximum level at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.

Roller Bearing Exports

Exports in Asia

Roller bearing exports skyrocketed to X tons in 2021, growing by 41% against the previous year's figure. The total export volume increased at an average annual rate of +2.4% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The volume of export peaked at X tons in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

In value terms, roller bearing exports surged to $X in 2021. Over the period under review, exports, however, showed a relatively flat trend pattern. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

China represented the largest exporter of roller bearings in Asia, with the volume of exports resulting at X tons, which was near 46% of total exports in 2021. It was distantly followed by Singapore (X tons), South Korea (X tons) and Vietnam (X tons), together mixing up a 29% share of total exports. Indonesia (X tons), Japan (X tons), Taiwan (Chinese) (X tons), Hong Kong SAR (X tons), the United Arab Emirates (X tons), Turkey (X tons), India (X tons) and Thailand (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%), Turkey (+6.8%), Thailand (+6.6%) and the United Arab Emirates (+5.3%) displayed positive paces of growth. Moreover, Indonesia emerged as the fastest-growing exporter exported in Asia, 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. While the share of China (+31 p.p.), Singapore (+9.3 p.p.), Vietnam (+3.6 p.p.) and Indonesia (+3.5 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Hong Kong SAR (-5.1 p.p.), South Korea (-16 p.p.) and Japan (-26.8 p.p.) displayed negative dynamics. 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 accounting for 67% of total exports.

In terms of the main exporting countries, Vietnam, with a CAGR of +23.6%, 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 amounted to $X per ton, shrinking by -14.1% against the previous year. Overall, the export price saw a noticeable curtailment. The growth pace was the most rapid in 2016 when the export price increased by 9.7% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2018; however, from 2019 to 2021, the export prices failed to regain momentum.

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

In 2021, roller bearing imports in Asia skyrocketed to X tons, rising by 24% against the previous year's figure. The total import volume increased at an average annual rate of +1.4% 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, roller bearing imports surged to $X in 2021. Over the period under review, imports, however, recorded a perceptible curtailment. The level of import peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

Thailand represented the major importing country with an import of about X tons, which resulted at 33% of total imports. Indonesia (X tons) ranks second in terms of the total imports with an 18% share, followed by India (8.4%) and South Korea (7.2%). China (X tons), Vietnam (X tons), the United Arab Emirates (X tons), Turkey (X tons), Malaysia (X tons), Hong Kong SAR (X tons), Saudi Arabia (X tons), Iran (X tons) and Singapore (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main 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, China ($X), India ($X) and Indonesia ($X) constituted the countries with the highest levels of imports in 2021, together comprising 43% of total imports. These countries were followed by Thailand, South Korea, Singapore, Malaysia, Hong Kong SAR, Saudi Arabia, Turkey, Vietnam, the United Arab Emirates and Iran, which together accounted for a further 44%.

Iran, with a CAGR of +9.3%, saw 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 amounted to $X per ton, waning by -3.4% against the previous year. In general, the import price continues to indicate a noticeable decrease. The pace of growth appeared the most rapid in 2016 when the import price increased by 3.3% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a 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 (+8.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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