Asia: Spherical Roller Bearing Market 2024

Spherical Roller Bearing Market Size in Asia

In 2021, the Asian spherical roller bearing market decreased by -6.2% to $X, falling for the second consecutive year after three 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 remained at a somewhat lower figure.

Spherical Roller Bearing Production in Asia

In value terms, spherical roller bearing production rose slightly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +4.2% 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 with an increase of 19%. As a result, production reached the peak level of $X. From 2020 to 2021, production growth failed to regain momentum.

Spherical Roller Bearing Exports

Exports in Asia

Spherical roller bearing exports soared to X tons in 2021, growing by 27% compared with the previous year's figure. Total exports indicated noticeable growth 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 +59.1% against 2016 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, spherical roller bearing exports expanded notably to $X in 2021. In general, exports, however, continue to indicate a mild contraction. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

China was the largest exporter of spherical roller bearings in Asia, with the volume of exports amounting to X tons, which was near 50% of total exports in 2021. Japan (X tons) ranks second in terms of the total exports with a 25% share, followed by Singapore (10%) and Malaysia (6.9%). The following exporters - Thailand (X tons) and India (X tons) - each accounted for a 4% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the key 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 were China ($X), Japan ($X) and Singapore ($X), together accounting for 78% of total exports. Malaysia, India and Thailand lagged somewhat behind, together accounting for a further 16%.

Thailand, with a CAGR of +28.5%, saw the highest rates of growth with regard to 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 amounted to $X per ton, with a decrease of -10.9% against the previous year. In general, the export price saw a abrupt descent. The pace of growth was the most pronounced in 2018 when the export price increased by 3% against the previous year. Over the period under review, the export prices reached the peak figure 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 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

Spherical roller bearing imports rose notably to X tons in 2021, with an increase of 8.4% against the previous year. The total import volume increased at an average annual rate of +2.0% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2017 with an increase of 13% against the previous year. Over the period under review, imports reached the maximum in 2021 and are likely to see gradual growth in the immediate term.

In value terms, spherical roller bearing imports rose significantly to $X in 2021. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of 15% against the previous year. The level of import peaked at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) was the main importer of spherical roller bearings, mixing up 32% of total imports. India (X tons) ranks second in terms of the total imports with a 12% share, followed by South Korea (9.3%), Singapore (8.6%), Turkey (6.2%), Thailand (6.2%) and Indonesia (4.6%). Malaysia (X tons), the United Arab Emirates (X tons), Taiwan (Chinese) (X tons), Iran (X tons) and Hong Kong SAR (X tons) followed a long way behind the leaders.

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, Hong Kong SAR (+13.1%), Thailand (+8.3%), Malaysia (+6.3%), India (+5.8%), Iran (+3.7%), Turkey (+2.9%) and Indonesia (+2.2%) displayed positive paces of growth. Moreover, Hong Kong SAR emerged as the fastest-growing importer imported in Asia, with a CAGR of +13.1% from 2012-2021. The United Arab Emirates experienced a relatively flat trend pattern. By contrast, Taiwan (Chinese) (-1.8%), South Korea (-1.9%) and Singapore (-6.5%) illustrated a downward trend over the same period. From 2012 to 2021, the share of China, India and Thailand increased by +4.7, +3.4 and +2.6 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported spherical roller bearings in Asia, comprising 33% of total imports. The second position in the ranking was taken by India ($X), with a 15% share of total imports. It was followed by Singapore, with an 11% share.

From 2012 to 2021, the average annual growth rate of value in China was relatively modest. 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 amounted to $X per ton, approximately mirroring the previous year. Over the period under review, the import price, however, continues to indicate a noticeable slump. The pace of growth was the most pronounced in 2018 an increase of 5.8%. The level of import peaked at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

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