Eastern Asia: Tapered Roller Bearing Market 2024

Tapered Roller Bearing Market Size in Eastern Asia

In 2022, the East Asian tapered roller bearing market decreased by -17% to $X, falling for the fourth year in a row after three years of growth. Overall, consumption recorded a pronounced decline. Over the period under review, the market reached the maximum level at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Tapered Roller Bearing Production in Eastern Asia

In value terms, tapered roller bearing production shrank modestly to $X in 2022 estimated in export price. Overall, production continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the production volume increased by 8.6%. Over the period under review, production reached the maximum level at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Tapered Roller Bearing Exports

Exports in Eastern Asia

In 2022, the amount of tapered roller bearings exported in Eastern Asia expanded notably to X tons, rising by 8% on the year before. Overall, exports saw a prominent expansion. The most prominent rate of growth was recorded in 2021 with an increase of 61% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, tapered roller bearing exports totaled $X in 2022. In general, exports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when exports increased by 32% against the previous year. The level of export peaked in 2022 and is expected to retain growth in years to come.

Exports by Country

China was the major exporting country with an export of about X tons, which recorded 63% 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 near 36% share of total exports.

China was also the fastest-growing in terms of the tapered roller bearings exports, with a CAGR of +16.4% from 2012 to 2022. At the same time, South Korea (+8.6%) displayed positive paces of growth. Japan experienced a relatively flat trend pattern. From 2012 to 2022, the share of China increased by +33 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X), Japan ($X) and South Korea ($X) constituted the countries with the highest levels of exports in 2022, together comprising 98% of total exports.

Among the main exporting countries, South Korea, with a CAGR of +8.1%, 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 2022, the export price in Eastern Asia amounted to $X per ton, waning by -7.1% against the previous year. In general, the export price showed a abrupt curtailment. The most prominent rate of growth was recorded in 2018 an increase of 4.6%. 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 failed to regain momentum.

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 (-0.5%), while the other leaders experienced a decline in the export price figures.

Tapered Roller Bearing Imports

Imports in Eastern Asia

In 2022, purchases abroad of tapered roller bearings decreased by -21.3% to X tons for the first time since 2019, thus ending a two-year rising trend. Total imports indicated a tangible increase from 2012 to 2022: its volume increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2020 when imports increased by 25%. The volume of import peaked at X tons in 2021, and then fell notably in the following year.

In value terms, tapered roller bearing imports reduced sharply to $X in 2022. Over the period under review, imports, however, recorded a perceptible increase. The pace of growth appeared the most rapid in 2020 when imports increased by 28% against the previous year. The level of import peaked at $X in 2021, and then declined dramatically in the following year.

Imports by Country

China was the major importing country with an import of about X tons, which recorded 68% of total imports. South Korea (X tons) held a 12% share (based on physical terms) of total imports, which put it in second place, followed by Japan (11%) and Hong Kong SAR (5.2%). Taiwan (Chinese) (X tons) held a minor share of total imports.

China was also the fastest-growing in terms of the tapered roller bearings imports, with a CAGR of +6.0% from 2012 to 2022. At the same time, Hong Kong SAR (+4.2%) and Japan (+3.2%) displayed positive paces of growth. By contrast, South Korea (-2.0%) and Taiwan (Chinese) (-2.6%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China increased by +13 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported tapered roller bearings in Eastern Asia, comprising 74% of total imports. The second position in the ranking was taken by South Korea ($X), with a 10% share of total imports. It was followed by Japan, with a 7.4% share.

In China, tapered roller bearing imports increased at an average annual rate of +5.0% over the period from 2012-2022. In the other countries, the average annual rates were as follows: South Korea (-4.0% per year) and Japan (+0.2% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2022, declining by -13.8% against the previous year. Over the period under review, the import price saw a mild curtailment. The growth pace was the most rapid in 2019 an increase of 19% against the previous year. Over the period under review, import prices attained the maximum at $X per ton in 2021, and then reduced in the following year.

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 China ($X per ton), while Japan ($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 (-0.9%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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