Hong Kong SAR, China: Spherical Roller Bearing Market 2024

Spherical Roller Bearing Market Size in Hong Kong SAR, China

The Hong Kong spherical roller bearing market fell remarkably to $X in 2021, declining by -46.4% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, enjoyed a prominent expansion. Spherical roller bearing consumption peaked at $X in 2020, and then fell rapidly in the following year.

Spherical Roller Bearing Exports

Exports from Hong Kong SAR, China

In 2021, overseas shipments of spherical roller bearings decreased by -46.6% to X tons, falling for the second year in a row after three years of growth. In general, exports saw a abrupt slump. The pace of growth was the most pronounced in 2015 with an increase of 36%. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, spherical roller bearing exports declined markedly to $X in 2021. Overall, exports saw a abrupt curtailment. The pace of growth appeared the most rapid in 2015 with an increase of 26%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

China (X tons) was the main destination for spherical roller bearing exports from Hong Kong SAR, with a 83% share of total exports. Moreover, spherical roller bearing exports to China exceeded the volume sent to the second major destination, Taiwan (Chinese) (X tons), sixfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to China stood at -15.5%.

In value terms, China ($X) remains the key foreign market for spherical roller bearings exports from Hong Kong SAR, comprising 83% of total exports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 13% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to China totaled -16.4%.

Export Prices by Country

The average spherical roller bearing export price stood at $X per ton in 2021, growing by 7.6% against the previous year. Over the period under review, the export price, however, continues to indicate a slight slump. The pace of growth was the most pronounced in 2014 when the average export price increased by 12%. As a result, the export price attained the peak level of $X per ton. From 2015 to 2021, the average export prices failed to regain momentum.

Average prices varied noticeably for the major export markets. In 2021, the country with the highest price was Taiwan (Chinese) ($X per ton), while the average price for exports to China amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Taiwan (Chinese) (-1.0%).

Spherical Roller Bearing Imports

Imports into Hong Kong SAR, China

In 2021, the amount of spherical roller bearings imported into Hong Kong SAR contracted significantly to X tons, dropping by -49.8% on the previous year. In general, imports, however, posted a resilient increase. The most prominent rate of growth was recorded in 2014 when imports increased by 599% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2020, and then declined markedly in the following year.

In value terms, spherical roller bearing imports contracted markedly to $X in 2021. Over the period under review, imports, however, continue to indicate a buoyant expansion. The growth pace was the most rapid in 2014 with an increase of 622% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, Germany (X tons) constituted the largest spherical roller bearing supplier to Hong Kong SAR, accounting for a 76% share of total imports. Moreover, spherical roller bearing imports from Germany exceeded the figures recorded by the second-largest supplier, Japan (X tons), sixfold. The third position in this ranking was taken by Sweden (X tons), with a 5.3% share.

From 2012 to 2021, the average annual growth rate of volume from Germany totaled +63.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-1.9% per year) and Sweden (+90.9% per year).

In value terms, Germany ($X) constituted the largest supplier of spherical roller bearings to Hong Kong SAR, comprising 76% of total imports. The second position in the ranking was taken by Japan ($X), with a 13% share of total imports. It was followed by Sweden, with a 5.3% share.

From 2012 to 2021, the average annual growth rate of value from Germany stood at +60.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-3.2% per year) and Sweden (+88.3% per year).

Import Prices by Country

The average spherical roller bearing import price stood at $X per ton in 2021, rising by 13% against the previous year. In general, the import price, however, showed a slight downturn. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2021, the highest price was recorded for prices from China ($X per ton) and Japan ($X per ton), while the price for Germany ($X per ton) and Sweden ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sweden (-1.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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