Eastern Asia: Roller Bearing Market 2022

Roller Bearing Market Size in Eastern Asia

In 2021, the East Asian roller bearing market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. The market value increased at an average annual rate of +4.5% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level of $X. From 2019 to 2021, the growth of the market failed to regain momentum.

Roller Bearing Production in Eastern Asia

In value terms, roller bearing production expanded modestly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +4.0% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2018 when the production volume increased by 16% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2021, production growth failed to regain momentum.

Roller Bearing Exports

Exports in Eastern Asia

In 2021, the amount of roller bearings exported in Eastern Asia expanded significantly to X tons, with an increase of 15% on 2020. In general, exports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of 15%. Over the period under review, the exports hit record highs at X tons in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

In value terms, roller bearing exports shrank markedly to $X in 2021. Over the period under review, exports, however, continue to indicate a abrupt slump. The growth pace was the most rapid in 2017 with an increase of 13% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

China represented the largest exporter of roller bearings in Eastern Asia, with the volume of exports accounting for X tons, which was near 74% of total exports in 2021. South Korea (X tons) took the second position in the ranking, followed by Japan (X tons), Taiwan (Chinese) (X tons) and Hong Kong SAR (X tons). All these countries together held approx. 26% share of total exports.

China was also the fastest-growing in terms of the roller bearings exports, with a CAGR of +16.0% from 2012 to 2021. Taiwan (Chinese) experienced a relatively flat trend pattern. Hong Kong SAR (-8.1%), South Korea (-10.7%) and Japan (-18.8%) illustrated a downward trend over the same period. While the share of China (+55 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Hong Kong SAR (-5.3 p.p.), South Korea (-17.4 p.p.) and Japan (-31.9 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) emerged as the largest roller bearing supplier in Eastern Asia, comprising 59% of total exports. The second position in the ranking was held by Hong Kong SAR ($X), with a 14% share of total exports. It was followed by Japan, with an 11% share.

From 2012 to 2021, the average annual growth rate of value in China stood at +5.3%. In the other countries, the average annual rates were as follows: Hong Kong SAR (-12.4% per year) and Japan (-17.2% per year).

Export Prices by Country

In 2021, the export price in Eastern Asia amounted to $X per ton, falling by -25.9% against the previous year. Over the period under review, the export price showed a deep setback. The most prominent rate of growth was recorded in 2016 an increase of 21%. The level of export peaked at $X per ton in 2018; however, from 2019 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of origin: 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 2021, the most notable rate of growth in terms of prices was attained by South Korea (+3.8%), while the other leaders experienced more modest paces of growth.

Roller Bearing Imports

Imports in Eastern Asia

In 2021, the amount of roller bearings imported in Eastern Asia soared to X tons, increasing by 20% compared with the previous year's figure. Overall, imports, however, recorded a deep setback. Over the period under review, imports attained the maximum at X tons in 2014; however, from 2015 to 2021, imports failed to regain momentum.

In value terms, roller bearing imports reached $X in 2021. Over the period under review, imports, however, showed a perceptible setback. The most prominent rate of growth was recorded in 2017 when imports increased by 14%. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, South Korea (X tons) was the main importer of roller bearings, comprising 45% of total imports. China (X tons) took the second position in the ranking, distantly followed by Hong Kong SAR (X tons), Taiwan (Chinese) (X tons) and Japan (X tons). All these countries together held approx. 55% share of total imports.

From 2012 to 2021, the biggest increases were in Hong Kong SAR (with a CAGR of +7.0%), while purchases for the other leaders experienced mixed trends in the imports figures.

In value terms, China ($X) constitutes the largest market for imported roller bearings in Eastern Asia, comprising 49% of total imports. The second position in the ranking was held by South Korea ($X), with a 22% share of total imports. It was followed by Hong Kong SAR, with a 15% share.

From 2012 to 2021, the average annual rate of growth in terms of value in China stood at -4.3%. The remaining importing countries recorded the following average annual rates of imports growth: South Korea (-4.3% per year) and Hong Kong SAR (+3.5% per year).

Import Prices by Country

In 2021, the import price in Eastern Asia amounted to $X per ton, waning by -8.8% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.4%. The pace of growth appeared the most rapid in 2018 when the import price increased by 25% against the previous year. The level of import peaked at $X per ton in 2020, and then contracted in the following year.

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 (+8.4%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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