Eastern Asia: Ball Bearing Market 2024

Ball Bearing Market Size in Eastern Asia

In 2021, the East Asian ball bearing market decreased by -22.9% to $X, falling for the second year in a row after three years of growth. In general, consumption continues to indicate a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2020 to 2021, the growth of the market remained at a lower figure.

Ball Bearing Production in Eastern Asia

In value terms, ball bearing production rose to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.2% 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 the production volume increased by 23%. As a result, production attained the peak level of $X. From 2020 to 2021, production growth remained at a somewhat lower figure.

Ball Bearing Exports

Exports in Eastern Asia

For the sixth consecutive year, Eastern Asia recorded growth in overseas shipments of ball bearings, which increased by 78% to X tons in 2021. Over the period under review, exports saw buoyant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, ball bearing exports surged to $X in 2021. The total export value increased at an average annual rate of +3.3% from 2012 to 2021; however, the trend pattern indicated some noticeable 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

China represented the largest exporter of ball bearings in Eastern Asia, with the volume of exports reaching X tons, which was near 73% of total exports in 2021. Japan (X tons) held a 17% share (based on physical terms) of total exports, which put it in second place, followed by South Korea (6.6%). Taiwan (Chinese) (X tons) took a relatively small share of total exports.

China was also the fastest-growing in terms of the ball bearings exports, with a CAGR of +18.6% from 2012 to 2021. At the same time, South Korea (+2.3%) displayed positive paces of growth. Taiwan (Chinese) and Japan experienced a relatively flat trend pattern. While the share of China (+34 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Taiwan (Chinese) (-2.5 p.p.), South Korea (-6.7 p.p.) and Japan (-22.7 p.p.) displayed negative dynamics.

In value terms, the largest ball bearing supplying countries in Eastern Asia were China ($X), Japan ($X) and South Korea ($X), together accounting for 94% of total exports.

In terms of the main exporting countries, China, with a CAGR of +6.4%, saw the highest growth rate of 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 export price in Eastern Asia amounted to $X per ton, reducing by -22.2% against the previous year. Overall, the export price saw a drastic downturn. The most prominent rate of growth was recorded in 2018 when the export price increased by 8.2% against the previous year. The level of export peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of origin: 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 Taiwan (Chinese) (+2.7%), while the other leaders experienced mixed trends in the export price figures.

Ball Bearing Imports

Imports in Eastern Asia

In 2021, the amount of ball bearings imported in Eastern Asia surged to X tons, rising by 18% compared with 2020 figures. The total import volume increased at an average annual rate of +2.7% over the period from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The volume of import peaked at X tons in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, ball bearing imports soared to $X in 2021. The total import value increased at an average annual rate of +3.4% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

China represented the major importing country with an import of around X tons, which resulted at 52% of total imports. It was distantly followed by South Korea (X tons), Japan (X tons), Taiwan (Chinese) (X tons) and Hong Kong SAR (X tons), together achieving a 48% share of total imports.

China was also the fastest-growing in terms of the ball bearings imports, with a CAGR of +4.2% from 2012 to 2021. At the same time, Japan (+2.7%), South Korea (+1.8%) and Taiwan (Chinese) (+1.5%) displayed positive paces of growth. By contrast, Hong Kong SAR (-1.6%) illustrated a downward trend over the same period. From 2012 to 2021, the share of China increased by +6.4 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported ball bearings in Eastern Asia, comprising 60% of total imports. The second position in the ranking was held by Japan ($X), with a 12% share of total imports. It was followed by South Korea, with a 12% share.

From 2012 to 2021, the average annual growth rate of value in China totaled +6.4%. The remaining importing countries recorded the following average annual rates of imports growth: Japan (+0.6% per year) and South Korea (+1.2% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2021, growing by 13% against the previous year. In general, the import price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when the import price increased by 16%. The level of import peaked in 2021 and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was China ($X per ton), while South Korea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+2.1%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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