Asia: Tapered Roller Bearing Market 2024

Tapered Roller Bearing Market Size in Asia

In 2021, the Asian tapered roller bearing market decreased by -6.8% to $X, falling for the third consecutive year after three years of growth. Overall, consumption saw a relatively flat trend pattern. Over the period under review, the market attained the maximum level at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Tapered Roller Bearing Production in Asia

In value terms, tapered roller bearing production reached $X in 2021 estimated in export price. In general, production continues to indicate a mild expansion. The most prominent rate of growth was recorded in 2014 when the production volume increased by 9.2% against the previous year. The level of production peaked at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.

Tapered Roller Bearing Exports

Exports in Asia

In 2021, tapered roller bearing exports in Asia surged to X tons, increasing by 62% on 2020 figures. In general, exports saw a buoyant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, tapered roller bearing exports surged to $X in 2021. The total export value increased at an average annual rate of +2.1% from 2012 to 2021; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

China was the largest exporter of tapered roller bearings in Asia, with the volume of exports accounting for X tons, which was near 53% of total exports in 2021. Japan (X tons) held a 24% share (based on physical terms) of total exports, which put it in second place, followed by South Korea (7.9%) and India (6.7%). The following exporters - Singapore (X tons) and Thailand (X tons) - together made up 6.4% of total exports.

Exports from China increased at an average annual rate of +17.1% from 2012 to 2021. 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, with a CAGR of +26.3% from 2012-2021. Japan experienced a relatively flat trend pattern. China (+26 p.p.), India (+2.3 p.p.) and Thailand (+2 p.p.) significantly strengthened its position in terms of the total exports, while Singapore and Japan saw its share reduced by -1.9% and -27.6% from 2012 to 2021, respectively. 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 were Japan ($X), China ($X) and India ($X), together accounting for 80% of total exports. These countries were followed by South Korea, Singapore and Thailand, which together accounted for a further 17%.

In terms of the main exporting countries, Thailand, with a CAGR of +13.8%, 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, dropping by -15.6% against the previous year. In general, the export price showed a abrupt contraction. The most prominent rate of growth was recorded in 2018 an increase of 4.5% against the previous year. The level of export peaked 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 ($X per ton), while China ($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

In 2021, imports of tapered roller bearings in Asia soared to X tons, jumping by 23% against the year before. Total imports indicated a buoyant expansion from 2012 to 2021: its volume increased at an average annual rate of +5.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +80.6% against 2013 indices. As a result, imports attained 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 measured expansion from 2012 to 2021: its value increased at an average annual rate of +4.0% 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 +73.5% against 2015 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

China was the largest importing country with an import of around X tons, which reached 37% of total imports. It was distantly followed by India (X tons), Turkey (X tons), Singapore (X tons), the United Arab Emirates (X tons), Thailand (X tons) and South Korea (X tons), together making up a 40% share of total imports. Indonesia (X tons), Japan (X tons), Iran (X tons), Malaysia (X tons), Hong Kong SAR (X tons) and Taiwan (Chinese) (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%), Malaysia (+7.8%), Indonesia (+5.7%), Turkey (+4.6%), Iran (+4.6%), the United Arab Emirates (+3.7%), India (+3.1%), Hong Kong SAR (+2.7%) and Japan (+1.6%) displayed positive paces of growth. Singapore experienced a relatively flat trend pattern. By contrast, Taiwan (Chinese) (-1.7%) and South Korea (-2.5%) illustrated a downward trend over the same period. From 2012 to 2021, the share of China and Thailand increased by +14 and +2.1 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported tapered roller bearings in Asia, comprising 49% of total imports. The second position in the ranking was held by India ($X), with an 8.9% share of total imports. It was followed by Singapore, with a 7.4% share.

In China, tapered roller bearing imports expanded at an average annual rate of +11.7% over the period from 2012-2021. 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

In 2021, the import price in Asia amounted to $X per ton, surging by 1.7% against the previous year. Over the period under review, the import price, however, showed a slight contraction. The pace of growth was the most pronounced in 2019 an increase of 5.4%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

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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