Hong Kong SAR, China: Roller Bearing Market 2024

Roller Bearing Market Size in Hong Kong SAR, China

The Hong Kong roller bearing market skyrocketed to $X in 2022, jumping by 195% against the previous year. Overall, consumption, however, saw a deep setback. As a result, consumption reached the peak level of $X. From 2016 to 2022, the growth of the market remained at a lower figure.

Roller Bearing Production in Hong Kong SAR, China

In value terms, roller bearing production reduced to $X in 2022 estimated in export price. In general, production, however, saw a dramatic decrease. The pace of growth appeared the most rapid in 2021 with an increase of 36%. Over the period under review, production reached the maximum level at $X in 2017; however, from 2018 to 2022, production remained at a lower figure.

Roller Bearing Exports

Exports from Hong Kong SAR, China

In 2022, the amount of roller bearings exported from Hong Kong SAR expanded remarkably to X tons, rising by 8.4% against the year before. Overall, exports, however, faced a abrupt shrinkage. The pace of growth appeared the most rapid in 2014 with an increase of 54%. The Hong Kong SAR exports peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, roller bearing exports dropped modestly to $X in 2022. In general, exports, however, faced a abrupt contraction. The most prominent rate of growth was recorded in 2014 when exports increased by 32%. The Hong Kong SAR exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

China represented the main exporting country with an export of about X tons, which recorded 43% of total exports. Singapore (X tons) ranks second in terms of the total exports with a 9.7% share, followed by Germany (7.2%), France (6.9%), Slovakia (5.4%) and the United States (0.8%). The following exporters - Italy (X tons), South Korea (X tons), Indonesia (X tons), Turkey (X tons), Austria (X tons), Romania (X tons) and Taiwan (Chinese) (X tons) - together made up 14% of total exports.

Exports from China increased at an average annual rate of +22.6% from 2012 to 2022. At the same time, Indonesia (+35.7%), Turkey (+8.5%), Singapore (+1.2%) and Slovakia (+1.1%) displayed positive paces of growth. Moreover, Indonesia emerged as the fastest-growing exporter exported in the world, with a CAGR of +35.7% from 2012-2022. By contrast, Taiwan (Chinese) (-1.4%), Italy (-1.9%), Germany (-2.0%), France (-2.2%), South Korea (-9.7%), the United States (-18.4%), Austria (-22.3%) and Romania (-22.4%) illustrated a downward trend over the same period. China (+37 p.p.) and Indonesia (+2.2 p.p.) significantly strengthened its position in terms of the global exports, while Italy, Germany, France, Romania, South Korea, the United States and Austria saw its share reduced by -1.5%, -2.6%, -2.7%, -4.9%, -6.3%, -6.4% and -7.2% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest roller bearing supplying countries from Hong Kong SAR were China ($X), Singapore ($X) and Germany ($X), together accounting for 45% of total exports. Italy, the United States, France, Slovakia, South Korea, Taiwan (Chinese), Austria, Turkey, Indonesia and Romania lagged somewhat behind, together accounting for a further 30%.

Indonesia, with a CAGR of +16.1%, saw the highest rates of growth with regard to the value of exports, in terms of the main exporting countries 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 Hong Kong SAR amounted to $X per ton, with a decrease of -10.8% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.5%. The pace of growth appeared the most rapid in 2020 when the export price increased by 17% against the previous year. Over the period under review, the export prices reached the peak figure at $X per ton in 2021, and then contracted in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+16.3%), while the other leaders experienced more modest paces of growth.

Roller Bearing Imports

Imports into Hong Kong SAR, China

In 2022, the amount of roller bearings imported into Hong Kong SAR shrank slightly to X tons, reducing by -2.3% against 2021. In general, imports showed a abrupt curtailment. The growth pace was the most rapid in 2015 with an increase of 85% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, roller bearing imports fell slightly to $X in 2022. Overall, imports saw a deep slump. The most prominent rate of growth was recorded in 2015 with an increase of 61% against the previous year. Hong Kong SAR imports peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

Thailand (X tons) and Indonesia (X tons) were the major importers of roller bearings in 2022, accounting for approx. 17% and 15% of total imports, respectively. It was distantly followed by Germany (X tons), constituting a 6.2% share of total imports. India (X tons), Italy (X tons), Canada (X tons), Malaysia (X tons), Spain (X tons), South Korea (X tons), France (X tons), Singapore (X tons), Poland (X tons) and Austria (X tons) took a minor share of total imports.

From 2012 to 2022, the biggest increases were recorded for Thailand (with a CAGR of +18.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest roller bearing importing markets into Hong Kong SAR were Indonesia ($X), Germany ($X) and India ($X), together accounting for 24% of total imports.

Indonesia, with a CAGR of +4.2%, saw the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Hong Kong SAR amounted to $X per ton, picking up by 1.7% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the import price increased by 11%. Hong Kong SAR import price peaked in 2022 and is expected to retain growth in years to come.

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 Canada ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+6.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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