Eastern Asia: Spherical Roller Bearing Market 2024

Spherical Roller Bearing Market Size in Eastern Asia

In 2021, the East Asian spherical roller bearing market decreased by -16.9% to $X for the first time since 2015, thus ending a five-year rising trend. The total consumption indicated a moderate expansion from 2012 to 2021: its value increased at an average annual rate of +2.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the peak level at $X in 2020, and then contracted dramatically in the following year.

Spherical Roller Bearing Production in Eastern Asia

In value terms, spherical roller bearing production rose to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.7% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2014 when the production volume increased by 16% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Spherical Roller Bearing Exports

Exports in Eastern Asia

In 2021, approx. X tons of spherical roller bearings were exported in Eastern Asia; increasing by 32% compared with 2020. Total exports indicated a prominent expansion from 2012 to 2021: its volume increased at an average annual rate of +6.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +61.8% against 2016 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, spherical roller bearing exports soared to $X in 2021. Over the period under review, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 28% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

Exports by Country

China was the main exporting country with an export of around X tons, which reached 64% of total exports. It was distantly followed by Japan (X tons), mixing up a 32% share of total exports. South Korea (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by China (with a CAGR of +15.8%), while the other leaders experienced mixed trends in the exports figures.

In value terms, the largest spherical roller bearing supplying countries in Eastern Asia were China ($X), Japan ($X) and South Korea ($X), with a combined 97% share of total exports.

In terms of the main exporting countries, South Korea, with a CAGR of +4.2%, saw the highest growth rate of 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

In 2021, the export price in Eastern Asia amounted to $X per ton, with a decrease of -12.6% against the previous year. Overall, the export price showed a abrupt slump. The most prominent rate of growth was recorded in 2014 an increase of 2.5% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was South Korea ($X per ton), while China ($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 (+1.0%), while the other leaders experienced a decline in the export price figures.

Spherical Roller Bearing Imports

Imports in Eastern Asia

In 2021, approx. X tons of spherical roller bearings were imported in Eastern Asia; reducing by -7.1% compared with the year before. Total imports indicated perceptible growth from 2012 to 2021: its volume increased at an average annual rate of +2.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +51.3% against 2015 indices. The pace of growth was the most pronounced in 2020 when imports increased by 26% against the previous year. As a result, imports reached the peak of X tons, and then declined in the following year.

In value terms, spherical roller bearing imports dropped to $X in 2021. Over the period under review, imports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2018 with an increase of 21% against the previous year. Over the period under review, imports reached the maximum at $X in 2020, and then fell in the following year.

Imports by Country

China was the major importing country with an import of about X tons, which finished at 68% of total imports. South Korea (X tons) held a 20% share (based on physical terms) of total imports, which put it in second place, followed by Taiwan (Chinese) (5.7%) and Hong Kong SAR (4.6%). Japan (X tons) took a minor share of total imports.

From 2012 to 2021, average annual rates of growth with regard to spherical roller bearing imports into China stood at +3.9%. At the same time, Hong Kong SAR (+13.1%) displayed positive paces of growth. Moreover, Hong Kong SAR emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +13.1% from 2012-2021. By contrast, Taiwan (Chinese) (-1.8%), South Korea (-1.9%) and Japan (-5.3%) illustrated a downward trend over the same period. From 2012 to 2021, the share of China and Hong Kong SAR increased by +10 and +2.8 percentage points, respectively.

In value terms, China ($X) constitutes the largest market for imported spherical roller bearings in Eastern Asia, comprising 69% of total imports. The second position in the ranking was taken by South Korea ($X), with a 17% share of total imports. It was followed by Hong Kong SAR, with a 5.7% share.

In China, spherical roller bearing imports remained relatively stable over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: South Korea (-2.8% per year) and Hong Kong SAR (+11.6% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2021, remaining constant against the previous year. In general, the import price, however, saw a perceptible descent. The growth pace was the most rapid in 2018 an increase of 7.4% against the previous year. The level of import peaked at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+0.6%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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