Eastern Asia: Bearing Market 2025

Bearing Market Size in Eastern Asia

In 2021, the East Asian bearing market decreased by -6.1% to $X, falling for the third consecutive year after five years of growth. Over the period under review, consumption continues to indicate a mild downturn. The pace of growth was the most pronounced in 2017 when the market value increased by 5.7% against the previous year. Over the period under review, the market attained the peak level at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Bearing Production in Eastern Asia

In value terms, bearing production expanded slightly to $X in 2021 estimated in export price. Overall, production continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of 5.4% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Bearing Exports

Exports in Eastern Asia

In 2021, the amount of ball and roller bearings exported in Eastern Asia surged to X tons, rising by 31% against 2020. In general, exports enjoyed a strong expansion. The most prominent rate of growth was recorded in 2019 when exports increased by 107%. As a result, the exports attained the peak of X tons; afterwards, it flattened through to 2021.

In value terms, 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 remained consistent, with only minor fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, China (X tons) represented the main exporter of ball and roller bearings, achieving 72% of total exports. Japan (X tons) took the second position in the ranking, distantly followed by South Korea (X tons). All these countries together took near 25% share of total exports.

China was also the fastest-growing in terms of the ball and roller bearings exports, with a CAGR of +20.2% from 2012 to 2021. At the same time, South Korea (+3.5%) displayed positive paces of growth. Japan experienced a relatively flat trend pattern. China (+38 p.p.) significantly strengthened its position in terms of the total exports, while South Korea and Japan saw its share reduced by -5.2% and -27.1% from 2012 to 2021, respectively.

In value terms, the largest bearing supplying countries in Eastern Asia were China ($X), Japan ($X) and South Korea ($X), together accounting for 93% of total exports.

In terms of the main exporting countries, China, with a CAGR of +5.4%, 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 mixed trends in the exports figures.

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2021, picking up by 1.7% against the previous year. Overall, the export price, however, recorded a abrupt downturn. The growth pace was the most rapid in 2020 an increase of 17%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Japan ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+1.2%), while the other leaders experienced a decline in the export price figures.

Bearing Imports

Imports in Eastern Asia

In 2021, approx. X tons of ball and roller bearings were imported in Eastern Asia; surging by 13% compared with the previous year's figure. The total import volume increased at an average annual rate of +3.0% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2019 when imports increased by 32%. As a result, imports attained the peak of X tons. From 2020 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, bearing imports soared to $X in 2021. The total import value increased at an average annual rate of +2.5% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

China was the largest importing country with an import of about X tons, which finished at 61% of total imports. South Korea (X tons) held a 16% share (based on physical terms) of total imports, which put it in second place, followed by Japan (8.9%), Taiwan (Chinese) (7.1%) and Hong Kong SAR (6.8%).

China was also the fastest-growing in terms of the ball and roller bearings imports, with a CAGR of +5.2% from 2012 to 2021. At the same time, Japan (+1.6%) and Taiwan (Chinese) (+1.1%) displayed positive paces of growth. South Korea experienced a relatively flat trend pattern. By contrast, Hong Kong SAR (-2.8%) illustrated a downward trend over the same period. While the share of China (+11 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of South Korea (-3.7 p.p.) and Hong Kong SAR (-4.6 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported ball and roller bearings in Eastern Asia, comprising 66% of total imports. The second position in the ranking was held by South Korea ($X), with a 12% share of total imports. It was followed by Japan, with a 9% share.

From 2012 to 2021, the average annual rate of growth in terms of value in China totaled +5.2%. The remaining importing countries recorded the following average annual rates of imports growth: South Korea (-1.0% per year) and Japan (+0.1% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2021, growing by 6.4% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when the import price increased by 41%. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in China ($X per ton) and Hong Kong SAR ($X per ton), while South Korea ($X per ton) and Taiwan (Chinese) ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+0.0%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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