China: Needle Roller Bearing Market 2024

Needle Roller Bearing Market Size in China

In 2021, the Chinese needle roller bearing market decreased by -14.4% to $X, falling for the third consecutive year after three years of growth. Over the period under review, consumption continues to indicate a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Needle Roller Bearing Production in China

In value terms, needle roller bearing production amounted to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.5% over the period from 2012 to 2021; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2017 when the production volume increased by 14%. Over the period under review, production attained the maximum level at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.

Needle Roller Bearing Exports

Exports from China

In 2021, shipments abroad of needle roller bearings increased by 81% to X tons, rising for the third consecutive year after two years of decline. In general, exports enjoyed a prominent expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, needle roller bearing exports skyrocketed to $X in 2021. The total export value increased at an average annual rate of +2.3% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. 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 South Korea (X tons) were the main destinations of needle roller bearing exports from China, together comprising 52% of total exports. These countries were followed by Mexico, Thailand, India, Italy, Japan, Turkey, Iran, Sweden, Indonesia and Brazil, which together accounted for a further 30%.

From 2012 to 2021, the biggest increases were in Sweden (with a CAGR of +65.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), the United States ($X) and South Korea ($X) constituted the largest markets for needle roller bearing exported from China worldwide, with a combined 49% share of total exports. Mexico, India, Japan, Indonesia, Thailand, Italy, Sweden, Turkey, Brazil and Iran lagged somewhat behind, together comprising a further 30%.

In terms of the main countries of destination, Sweden, with a CAGR of +47.1%, 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 needle roller bearing export price stood at $X per ton in 2021, declining by -25.4% against the previous year. Over the period under review, the export price continues to indicate a abrupt setback. The most prominent rate of growth was recorded in 2017 when the average export price increased by 27% against the previous year. Over the period under review, the average export prices attained the maximum 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 export markets. In 2021, the country with the highest price was South Korea ($X per ton), while the average price for exports to Iran ($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 South Korea (-4.3%), while the prices for the other major destinations experienced a decline.

Needle Roller Bearing Imports

Imports into China

In 2021, supplies from abroad of needle roller bearings was finally on the rise to reach X tons after four years of decline. Over the period under review, imports, however, continue to indicate a mild downturn. The most prominent rate of growth was recorded in 2016 with an increase of 23% against the previous year. As a result, imports attained the peak of X tons. From 2017 to 2021, the growth of imports remained at a lower figure.

In value terms, needle roller bearing imports soared to $X in 2021. Overall, imports continue to indicate a relatively flat trend pattern. Over the period under review, imports attained the peak figure at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Japan (X tons), Germany (X tons) and France (X tons) were the main suppliers of needle roller bearing imports to China, together comprising 68% of total imports. Slovakia, Taiwan (Chinese), the United States and South Korea lagged somewhat behind, together accounting for a further 27%.

From 2012 to 2021, the biggest increases were in Slovakia (with a CAGR of +9.1%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, Japan ($X), Germany ($X) and Slovakia ($X) constituted the largest needle roller bearing suppliers to China, with a combined 63% share of total imports.

In terms of the main suppliers, Slovakia, with a CAGR of +12.3%, recorded the highest growth rate of 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

In 2021, the average needle roller bearing import price amounted to $X per ton, growing by 11% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.9%. The pace of growth was the most pronounced in 2019 when the average import price increased by 35%. Over the period under review, average import prices hit record highs in 2021 and is likely to see steady growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the United States ($X per ton), while the price for France ($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 (+14.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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