Eastern Asia: Needle Roller Bearing Market 2024

Needle Roller Bearing Market Size in Eastern Asia

In 2022, the East Asian needle roller bearing market decreased by -2.9% to $X, falling for the fourth consecutive year after two years of growth. Over the period under review, consumption continues to indicate a perceptible descent. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market remained at a lower figure.

Needle Roller Bearing Production in Eastern Asia

In value terms, needle roller bearing production contracted to $X in 2022 estimated in export price. Overall, production recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of 12%. As a result, production reached the peak level of $X. From 2019 to 2022, production growth failed to regain momentum.

Needle Roller Bearing Exports

Exports in Eastern Asia

In 2022, exports of needle roller bearings in Eastern Asia dropped modestly to X tons, with a decrease of -3.9% compared with the previous year's figure. Total exports indicated a resilient expansion from 2012 to 2022: its volume increased at an average annual rate of +6.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +41.6% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 47%. As a result, the exports attained the peak of X tons, and then contracted modestly in the following year.

In value terms, needle roller bearing exports reduced to $X in 2022. In general, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 30% against the previous year. As a result, the exports reached the peak of $X, and then contracted in the following year.

Exports by Country

In 2022, China (X tons) represented the largest exporter of needle roller bearings, creating 53% of total exports. Japan (X tons) took the second position in the ranking, distantly followed by South Korea (X tons). All these countries together held approx. 42% share of total exports. Taiwan (Chinese) (X tons) and Hong Kong SAR (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by China (with a CAGR of +13.5%), while the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), China ($X) and South Korea ($X) were the countries with the highest levels of exports in 2022, with a combined 93% share of total exports.

In terms of the main exporting countries, South Korea, with a CAGR of +9.3%, 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, shrinking by -6.8% against the previous year. In general, the export price showed a abrupt descent. The pace of growth appeared the most rapid in 2018 when the export price increased by 8.1% against the previous year. Over the period under review, the export prices reached the peak figure 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 Hong Kong SAR ($X per ton), while China ($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 (-0.7%), while the other leaders experienced a decline in the export price figures.

Needle Roller Bearing Imports

Imports in Eastern Asia

In 2022, the amount of needle roller bearings imported in Eastern Asia contracted to X tons, with a decrease of -11.8% compared with the previous year's figure. Overall, imports saw a slight curtailment. The most prominent rate of growth was recorded in 2021 when imports increased by 18%. Over the period under review, imports attained the maximum at X tons in 2016; however, from 2017 to 2022, imports failed to regain momentum.

In value terms, needle roller bearing imports reduced to $X in 2022. Over the period under review, imports saw a mild reduction. The most prominent rate of growth was recorded in 2021 with an increase of 24%. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X tons), South Korea (X tons) and Japan (X tons) was the largest importer of needle roller bearings in Eastern Asia, creating 85% of total import. Hong Kong SAR (X tons) took a 7.7% share (based on physical terms) of total imports, which put it in second place, followed by Taiwan (Chinese) (7.3%).

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Japan (with a CAGR of +2.0%), while imports for the other leaders experienced mixed trends in the imports figures.

In value terms, the largest needle roller bearing importing markets in Eastern Asia were China ($X), South Korea ($X) and Japan ($X), with a combined 89% share of total imports.

China, with a CAGR of +0.3%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced a decline in the imports figures.

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2022, approximately equating the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2019 an increase of 6.7%. Over the period under review, import prices reached the maximum at $X per ton in 2021, and then dropped modestly in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was China ($X per ton), while Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+2.5%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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