Hong Kong SAR, China: Market for Bearing Housings Not Incorporating Ball Or Roller Bearings, Plain Shaft Bearings 2024

Market Size for Bearing Housings Not Incorporating Ball Or Roller Bearings, Plain Shaft Bearings in Hong Kong SAR, China

After two years of decline, the Hong Kong market for bearing housings not incorporating ball or roller bearings, plain shaft bearings increased by 15% to $X in 2021. Over the period under review, consumption recorded resilient growth. Bearing housing without ball bearing consumption peaked at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Production of Bearing Housings Not Incorporating Ball Or Roller Bearings, Plain Shaft Bearings in Hong Kong SAR, China

In value terms, bearing housing without ball bearing production rose significantly to $X in 2021 estimated in export price. In general, production showed a buoyant increase. The most prominent rate of growth was recorded in 2016 when the production volume increased by 42%. Bearing housing without ball bearing production peaked at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Exports of Bearing Housings Not Incorporating Ball Or Roller Bearings, Plain Shaft Bearings

Exports from Hong Kong SAR, China

Bearing housing without ball bearing exports from Hong Kong SAR shrank to X tons in 2021, declining by -14% compared with 2020 figures. The total export volume increased at an average annual rate of +4.3% 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 2020 when exports increased by 27% against the previous year. As a result, the exports attained the peak of X tons, and then fell in the following year.

In value terms, bearing housing without ball bearing exports shrank slightly to $X in 2021. In general, total exports indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +8.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +67.3% against 2016 indices. The pace of growth was the most pronounced in 2020 when exports increased by 36% against the previous year. As a result, the exports reached the peak of $X, and then declined slightly in the following year.

Exports by Country

China (X tons) was the main destination for bearing housing without ball bearing exports from Hong Kong SAR, with a 67% share of total exports. Moreover, bearing housing without ball bearing exports to China exceeded the volume sent to the second major destination, Vietnam (X tons), fourfold. The third position in this ranking was held by Thailand (X tons), with a 9.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to China stood at +5.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+1.9% per year) and Thailand (+15.4% per year).

In value terms, China ($X) remains the key foreign market for bearing housings not incorporating ball or roller bearings, plain shaft bearings exports from Hong Kong SAR, comprising 67% of total exports. The second position in the ranking was held by Vietnam ($X), with a 16% share of total exports. It was followed by Thailand, with a 9.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value to China stood at +9.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+5.7% per year) and Thailand (+19.8% per year).

Export Prices by Country

In 2021, the average export price for bearing housings not incorporating ball or roller bearings, plain shaft bearings amounted to $X per ton, jumping by 15% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.8%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably for the major overseas markets. In 2021, amid the top suppliers, the countries with the highest prices were Japan ($X per ton) and Vietnam ($X per ton), while the average price for exports to China ($X per ton) and Thailand ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Japan (+3.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Bearing Housings Not Incorporating Ball Or Roller Bearings, Plain Shaft Bearings

Imports into Hong Kong SAR, China

In 2021, bearing housing without ball bearing imports into Hong Kong SAR surged to X tons, growing by 30% compared with the previous year's figure. Overall, imports posted a resilient increase. The most prominent rate of growth was recorded in 2014 with an increase of 49% against the previous year. Imports peaked in 2021 and are expected to retain growth in years to come.

In value terms, bearing housing without ball bearing imports skyrocketed to $X in 2021. In general, total imports indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +6.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2014 when imports increased by 51%. Imports peaked in 2021 and are likely to see steady growth in the immediate term.

Imports by Country

In 2021, China (X tons) constituted the largest bearing housing without ball bearing supplier to Hong Kong SAR, with a 41% share of total imports. Moreover, bearing housing without ball bearing imports from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), twofold. The third position in this ranking was held by Singapore (X tons), with a 12% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to +10.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+3.7% per year) and Singapore (+36.5% per year).

In value terms, China ($X) constituted the largest supplier of bearing housings not incorporating ball or roller bearings, plain shaft bearings to Hong Kong SAR, comprising 40% of total imports. The second position in the ranking was held by Japan ($X), with a 17% share of total imports. It was followed by Singapore, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled +5.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-1.1% per year) and Singapore (+30.2% per year).

Import Prices by Country

The average import price for bearing housings not incorporating ball or roller bearings, plain shaft bearings stood at $X per ton in 2021, reducing by -6.6% against the previous year. Overall, the import price recorded a pronounced decline. The pace of growth appeared the most rapid in 2018 when the average import price increased by 7.6%. Over the period under review, average import prices attained the maximum at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the countries with the highest prices were Japan ($X per ton) and Taiwan (Chinese) ($X per ton), while the price for Thailand ($X per ton) and Singapore ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (-4.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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