Eastern Asia: Bearing Market 2024

Bearing Market Size in Eastern Asia

In 2022, the East Asian bearing market decreased by X% to $X, falling for the fourth year in a row after four years of growth. Over the period under review, consumption showed a slight decrease. The pace of growth was the most pronounced in 2018 when the market value increased by X%. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market remained at a lower figure.

Bearing Production in Eastern Asia

In value terms, bearing production fell modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% 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 2019 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2020 to 2022, production growth remained at a lower figure.

Bearing Exports

Exports in Eastern Asia

Bearing exports declined to X tons in 2022, therefore, remained relatively stable against the previous year. Over the period under review, exports, however, enjoyed a strong increase. The pace of growth was the most pronounced in 2019 when exports increased by X% against the previous year. As a result, the exports attained the peak of X tons; afterwards, it flattened through to 2022.

In value terms, bearing exports fell to $X in 2022. The total export value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The pace of growth was the most pronounced in 2021 when exports increased by X% against the previous year. As a result, the exports attained the peak of $X, and then contracted slightly in the following year.

Exports by Country

China was the key exporting country with an export of around X tons, which reached X% of total exports. Japan (X tons) held the second position in the ranking, distantly followed by South Korea (X tons). All these countries together took approx. X% share of total exports. Taiwan (Chinese) (X tons) held a minor share of total exports.

China was also the fastest-growing in terms of the ball or roller bearings exports, with a CAGR of X% from 2012 to 2022. At the same time, Taiwan (Chinese) (X%) and South Korea (X%) displayed positive paces of growth. Japan experienced a relatively flat trend pattern. From 2012 to 2022, the share of China increased by X percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest bearing supplying countries in Eastern Asia were China ($X), Japan ($X) and South Korea ($X), with a combined X% share of total exports.

Among the main exporting countries, China, with a CAGR of X%, recorded 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 2022, the export price in Eastern Asia amounted to $X per ton, which is down by X% against the previous year. Over the period under review, the export price recorded a abrupt decline. The growth pace was the most rapid in 2020 an increase of X% against the previous year. Over the period under review, the export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: 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 2022, the most notable rate of growth in terms of prices was attained by South Korea (X%), while the other leaders experienced mixed trends in the export price figures.

Bearing Imports

Imports in Eastern Asia

In 2022, the amount of ball or roller bearings imported in Eastern Asia reduced to X tons, falling by X% compared with 2021. Overall, imports, however, recorded a modest expansion. The pace of growth appeared the most rapid in 2019 when imports increased by X% against the previous year. As a result, imports reached the peak of X tons. From 2020 to 2022, the growth of imports failed to regain momentum.

In value terms, bearing imports reduced to $X in 2022. Over the period under review, imports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of X%. As a result, imports attained the peak of $X, and then shrank in the following year.

Imports by Country

In 2022, China (X tons) was the major importer of ball or roller bearings, mixing up X% 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 making up a X% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to bearing imports into China stood at X%. At the same time, Japan (X%) displayed positive paces of growth. Moreover, Japan emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of X% from 2012-2022. Taiwan (Chinese) and South Korea experienced a relatively flat trend pattern. By contrast, Hong Kong SAR (X%) illustrated a downward trend over the same period. While the share of China (X p.p.) and Japan (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of South Korea (X p.p.) and Hong Kong SAR (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

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

In China, bearing imports expanded at an average annual rate of X% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: South Korea (X% per year) and Japan (X% per year).

Import Prices by Country

In 2022, the import price in Eastern Asia amounted to $X per ton, leveling off at the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the import price increased by X% against the previous year. Over the period under review, import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Hong Kong SAR ($X per ton), while South Korea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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