China: Ball Bearing Market 2024

Ball Bearing Market Size in China

In 2021, the Chinese ball bearing market decreased by -27.6% to $X, falling for the second consecutive year after three years of growth. In general, the total consumption indicated a mild expansion from 2012 to 2021: its value increased at an average annual rate of +1.4% 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 decreased by -39.2% against 2019 indices. As a result, consumption attained the peak level of $X. From 2020 to 2021, the growth of the market remained at a lower figure.

Ball Bearing Production in China

In value terms, ball bearing production totaled $X in 2021 estimated in export price. Over the period under review, the total production indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +6.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -3.1% against 2019 indices. The most prominent rate of growth was recorded in 2019 with an increase of 45% against the previous year. As a result, production reached the peak level of $X. From 2020 to 2021, production growth failed to regain momentum.

Ball Bearing Exports

Exports from China

For the third year in a row, China recorded growth in shipments abroad of ball bearings, which increased by 107% to X tons in 2021. Over the period under review, exports continue to indicate a remarkable increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, ball bearing exports soared to $X in 2021. In general, total exports indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +6.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded 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

Germany (X tons), the United States (X tons) and India (X tons) were the main destinations of ball bearing exports from China, together comprising 32% of total exports. These countries were followed by Italy, South Korea, Vietnam, Brazil, Mexico, Indonesia, Taiwan (Chinese), Malaysia, Thailand and the United Arab Emirates, which together accounted for a further 36%.

From 2012 to 2021, the biggest increases were recorded for Mexico (with a CAGR of +37.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for ball bearing exported from China were the United States ($X), Germany ($X) and India ($X), together comprising 32% of total exports. These countries were followed by South Korea, Brazil, Italy, Vietnam, Taiwan (Chinese), Mexico, Malaysia, Thailand, Indonesia and the United Arab Emirates, which together accounted for a further 33%.

In terms of the main countries of destination, Mexico, with a CAGR of +19.5%, saw 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

The average ball bearing export price stood at $X per ton in 2021, dropping by -31.7% against the previous year. Overall, the export price saw a deep downturn. The growth pace was the most rapid in 2018 when the average export price increased by 17% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2019 to 2021, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Taiwan (Chinese) ($X per ton), while the average price for exports to the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (-1.7%), while the prices for the other major destinations experienced a decline.

Ball Bearing Imports

Imports into China

Ball bearing imports into China surged to X tons in 2021, growing by 17% against the previous year's figure. In general, total imports indicated moderate growth from 2012 to 2021: its volume increased at an average annual rate of +4.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -9.7% against 2019 indices. The most prominent rate of growth was recorded in 2014 when imports increased by 19%. Over the period under review, imports attained the peak figure at X tons in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, ball bearing imports soared to $X in 2021. Over the period under review, total imports indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +6.4% 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 +45.7% against 2019 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Japan (X tons) constituted the largest supplier of ball bearing to China, accounting for a 35% share of total imports. Moreover, ball bearing imports from Japan exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X tons), threefold. The third position in this ranking was taken by South Korea (X tons), with a 12% share.

From 2012 to 2021, the average annual growth rate of volume from Japan stood at +3.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+28.6% per year) and South Korea (+15.3% per year).

In value terms, Japan ($X) constituted the largest supplier of ball bearings to China, comprising 32% of total imports. The second position in the ranking was held by Thailand ($X), with a 12% share of total imports. It was followed by Taiwan (Chinese), with a 9.6% share.

From 2012 to 2021, the average annual growth rate of value from Japan totaled +4.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+16.9% per year) and Taiwan (Chinese) (+27.3% per year).

Import Prices by Country

In 2021, the average ball bearing import price amounted to $X per ton, with an increase of 18% against the previous year. Over the last nine-year period, it increased at an average annual rate of +2.1%. The growth pace was the most rapid in 2020 when the average import price increased by 37%. Over the period under review, average import prices attained the maximum in 2021 and is expected to retain growth in the near future.

Prices varied noticeably country of origin: the country with the highest price was the United States ($X per ton), while the price for South Korea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+14.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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