China: Tools For Bearing Market 2024

Tools For Bearing Market Size in China

In 2022, the Chinese tools for bearing market decreased by -3.2% to $X, falling for the third year in a row after three years of growth. The market value increased at an average annual rate of +1.4% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the peak level at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Tools For Bearing Production in China

In value terms, tools for bearing production declined slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.0% from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The growth pace was the most rapid in 2016 with an increase of 23%. Tools for bearing production peaked at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Tools For Bearing Exports

Exports from China

In 2022, overseas shipments of balls, needles and rollers for ball or roller bearings increased by 1.6% to X tons, rising for the second consecutive year after two years of decline. The total export volume increased at an average annual rate of +3.1% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 when exports increased by 29%. The exports peaked in 2022 and are likely to see steady growth in years to come.

In value terms, tools for bearing exports amounted to $X in 2022. The total export value increased at an average annual rate of +3.8% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 with an increase of 47%. The exports peaked in 2022 and are likely to see steady growth in the near future.

Exports by Country

South Korea (X tons), the United States (X tons) and India (X tons) were the main destinations of tools for bearing exports from China, together accounting for 40% of total exports. Japan, Italy, Germany, Mexico, Thailand, Turkey, Vietnam, Spain, Brazil and France lagged somewhat behind, together accounting for a further 39%.

From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of +16.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for tools for bearing exported from China were South Korea ($X), the United States ($X) and India ($X), with a combined 38% share of total exports. Japan, Germany, Italy, Mexico, Thailand, Vietnam, Brazil, France, Spain and Turkey lagged somewhat behind, together accounting for a further 41%.

Among the main countries of destination, Vietnam, with a CAGR of +16.4%, 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

The average tools for bearing export price stood at $X per ton in 2022, almost unchanged from the previous year. Overall, the export price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of 14% against the previous year. As a result, the export price reached the peak level of $X per ton, leveling off in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Turkey ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Mexico (+2.6%), while the prices for the other major destinations experienced more modest paces of growth.

Tools For Bearing Imports

Imports into China

In 2022, the amount of balls, needles and rollers for ball or roller bearings imported into China shrank markedly to X tons, dropping by -16.5% compared with the previous year. In general, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when imports increased by 25%. Imports peaked at X tons in 2016; however, from 2017 to 2022, imports remained at a lower figure.

In value terms, tools for bearing imports contracted sharply to $X in 2022. Over the period under review, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 19%. Over the period under review, imports reached the maximum at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

Japan (X tons), Germany (X tons) and Sweden (X tons) were the main suppliers of tools for bearing imports to China, together accounting for 67% of total imports.

From 2012 to 2022, the biggest increases were recorded for Sweden (with a CAGR of +17.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest tools for bearing suppliers to China were Japan ($X), Germany ($X) and Sweden ($X), together accounting for 68% of total imports. Thailand, Malaysia, the United States, India and Poland lagged somewhat behind, together accounting for a further 20%.

Poland, with a CAGR of +21.3%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average tools for bearing import price stood at $X per ton in 2022, declining by -2.1% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of 66%. As a result, import price reached the peak level of $X per ton. From 2018 to 2022, the average import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Thailand ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+8.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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