China: Tapered Roller Bearing Market 2024

Tapered Roller Bearing Market Size in China

In 2021, the Chinese tapered roller bearing market decreased by -17.6% to $X, falling for the third consecutive year after three years of growth. Over the period under review, consumption showed a relatively flat trend pattern. Over the period under review, the market reached the peak level at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Tapered Roller Bearing Production in China

In value terms, tapered roller bearing production expanded rapidly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.3% from 2012 to 2021; however, the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2017 with an increase of 7.5%. Over the period under review, production reached the maximum level at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Tapered Roller Bearing Exports

Exports from China

For the eighth year in a row, China recorded growth in shipments abroad of tapered roller bearings, which increased by 97% to X tons in 2021. Overall, exports continue to indicate resilient growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, tapered roller bearing exports skyrocketed to $X in 2021. The total export value increased at an average annual rate of +2.8% from 2012 to 2021; however, the trend pattern 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

The United States (X tons), Brazil (X tons) and India (X tons) were the main destinations of tapered roller bearing exports from China, with a combined 33% share of total exports. These countries were followed by Mexico, Italy, France, Germany, the United Arab Emirates, Malaysia, Japan, Turkey, Poland and Singapore, which together accounted for a further 39%.

From 2012 to 2021, the biggest increases were recorded for Mexico (with a CAGR of +39.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Brazil ($X) and France ($X) appeared to be the largest markets for tapered roller bearing exported from China worldwide, together accounting for 31% of total exports. Mexico, India, Italy, Germany, Japan, Singapore, Malaysia, Turkey, Poland and the United Arab Emirates lagged somewhat behind, together accounting for a further 39%.

Mexico, with a CAGR of +20.0%, saw the highest growth rate of the value of exports, among the main countries of destination 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 tapered roller bearing export price amounted to $X per ton, declining by -23.2% against the previous year. In general, the export price faced a deep downturn. The pace of growth appeared the most rapid in 2013 when the average export price increased by 6.3%. The export price peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Singapore ($X per ton), while the average price for exports to the United Arab Emirates ($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 (-5.9%), while the prices for the other major destinations experienced a decline.

Tapered Roller Bearing Imports

Imports into China

In 2021, imports of tapered roller bearings into China totaled X tons, growing by 5.1% on 2020. In general, imports posted prominent growth. The most prominent rate of growth was recorded in 2020 with an increase of 43% against the previous year. Imports peaked in 2021 and are likely to see steady growth in the immediate term.

In value terms, tapered roller bearing imports skyrocketed to $X in 2021. Overall, imports saw a strong expansion. The pace of growth was the most pronounced in 2020 when imports increased by 42%. Over the period under review, imports attained the maximum in 2021 and are likely to see steady growth in years to come.

Imports by Country

Germany (X tons), Japan (X tons) and Romania (X tons) were the main suppliers of tapered roller bearing imports to China, together accounting for 75% of total imports. These countries were followed by South Korea, the United States, India, Slovakia, Austria and Italy, which together accounted for a further 20%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Slovakia (with a CAGR of +52.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Japan ($X) and Romania ($X) were the largest tapered roller bearing suppliers to China, together accounting for 80% of total imports. The United States, South Korea, India, Slovakia, Italy and Austria lagged somewhat behind, together accounting for a further 16%.

Among the main suppliers, Slovakia, with a CAGR of +51.2%, saw 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

The average tapered roller bearing import price stood at $X per ton in 2021, with an increase of 11% against the previous year. Overall, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the average import price increased by 23%. The import price peaked in 2021 and is likely to continue growth in the near future.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+2.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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