China: Bearing Market 2024

Bearing Market Size in China

In 2022, the Chinese bearing market decreased by X% to $X, falling for the fourth year in a row after four years of growth. Overall, consumption continues to indicate a relatively flat trend pattern. Bearing consumption peaked at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Bearing Production in China

In value terms, bearing production reduced slightly to $X in 2022 estimated in export price. Over the period under review, the total production indicated a tangible expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by X% against 2019 indices. The growth pace was the most rapid in 2019 with an increase of X%. As a result, production reached the peak level of $X. From 2020 to 2022, production growth remained at a lower figure.

Bearing Exports

Exports from China

In 2022, approx. X tons of ball or roller bearings were exported from China; approximately reflecting 2021. Overall, exports showed a prominent increase. The most prominent rate of growth was recorded in 2019 when exports increased by X% against the previous year. As a result, the exports reached the peak of X tons; afterwards, it flattened through to 2022.

In value terms, bearing exports amounted to $X in 2022. Over the period under review, total exports indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of X%. The exports peaked in 2022 and are likely to see steady growth in the near future.

Exports by Country

The United States (X tons), Germany (X tons) and India (X tons) were the main destinations of bearing exports from China, with a combined X% share of total exports. Italy, Mexico, South Korea, Brazil, Vietnam, France, the United Arab Emirates, Indonesia, Malaysia and Taiwan (Chinese) lagged somewhat behind, together accounting for a further X%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Mexico (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for bearing exported from China were the United States ($X), Germany ($X) and India ($X), together comprising X% of total exports. Brazil, South Korea, Italy, Mexico, Vietnam, Taiwan (Chinese), France, Malaysia, Indonesia and the United Arab Emirates lagged somewhat behind, together accounting for a further X%.

Among the main countries of destination, Mexico, with a CAGR of X%, 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

In 2021, the average bearing export price amounted to $X per ton, increasing by X% against the previous year. In general, the export price, however, saw a abrupt slump. The most prominent rate of growth was recorded in 2020 an increase of X%. The export price peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, 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 (X%), while the prices for the other major destinations experienced a decline.

Bearing Imports

Imports into China

In 2022, imports of ball or roller bearings into China contracted significantly to X tons, declining by X% against the year before. Overall, total imports indicated pronounced growth from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by X% against 2019 indices. The pace of growth appeared the most rapid in 2019 when imports increased by X% against the previous year. As a result, imports attained the peak of X tons. From 2020 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, bearing imports reduced markedly to $X in 2022. Over the period under review, total imports indicated noticeable growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2016 indices. The most prominent rate of growth was recorded in 2021 when imports increased by X%. As a result, imports reached the peak of $X, and then declined rapidly in the following year.

Imports by Country

Japan (X tons), Germany (X tons) and Taiwan (Chinese) (X tons) were the main suppliers of bearing imports to China, together comprising X% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Taiwan (Chinese) (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest bearing suppliers to China were Japan ($X), Germany ($X) and Thailand ($X), together accounting for X% of total imports. Taiwan (Chinese), Romania, the United States, South Korea, Italy, France, Austria, Malaysia, Sweden and India lagged somewhat behind, together accounting for a further X%.

Among the main suppliers, Taiwan (Chinese), with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average bearing import price stood at $X per ton in 2021, rising by X% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The growth pace was the most rapid in 2020 when the average import price increased by X% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Thailand ($X per ton), while the price for South Korea ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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