Hong Kong SAR, China: Tapered Roller Bearing Market 2024

Tapered Roller Bearing Market Size in Hong Kong SAR, China

The Hong Kong tapered roller bearing market dropped sharply to $X in 2021, with a decrease of -24% against the previous year. Over the period under review, consumption recorded a pronounced contraction. Tapered roller bearing consumption peaked at $X in 2014; however, from 2015 to 2021, consumption stood at a somewhat lower figure.

Tapered Roller Bearing Production in Hong Kong SAR, China

In value terms, tapered roller bearing production declined markedly to $X in 2021 estimated in export price. In general, production faced a abrupt shrinkage. The pace of growth was the most pronounced in 2015 with an increase of 162%. As a result, production attained the peak level of $X. From 2016 to 2021, production growth failed to regain momentum.

Tapered Roller Bearing Exports

Exports from Hong Kong SAR, China

After four years of decline, shipments abroad of tapered roller bearings increased by 23% to X tons in 2021. Overall, exports, however, saw a slight shrinkage. The most prominent rate of growth was recorded in 2015 with an increase of 58%. The exports peaked at X tons in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

In value terms, tapered roller bearing exports soared to $X in 2021. Over the period under review, exports, however, showed a perceptible shrinkage. The pace of growth appeared the most rapid in 2015 with an increase of 50% against the previous year. The exports peaked at $X in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

Exports by Country

China (X tons) was the main destination for tapered roller bearing exports from Hong Kong SAR, accounting for a 95% share of total exports. It was followed by Taiwan (Chinese) (X tons), with a 1.8% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to China was relatively modest.

In value terms, China ($X) remains the key foreign market for tapered roller bearings exports from Hong Kong SAR, comprising 95% of total exports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 1.8% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to China amounted to -1.4%.

Export Prices by Country

In 2021, the average tapered roller bearing export price amounted to $X per ton, increasing by 1.5% against the previous year. Overall, the export price, however, showed a slight decrease. The growth pace was the most rapid in 2020 when the average export price increased by 8.3%. The export price peaked at $X per ton in 2014; however, from 2015 to 2021, the 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) (-1.5%).

Tapered Roller Bearing Imports

Imports into Hong Kong SAR, China

In 2021, approx. X tons of tapered roller bearings were imported into Hong Kong SAR; falling by -2.4% against the previous year. In general, total imports indicated measured growth from 2012 to 2021: its volume increased at an average annual rate of +2.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -16.2% against 2019 indices. The most prominent rate of growth was recorded in 2014 when imports increased by 71%. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, tapered roller bearing imports reached $X in 2021. Overall, imports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when imports increased by 70% against the previous year. Over the period under review, imports attained the maximum at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Germany (X tons), Japan (X tons) and China (X tons) were the main suppliers of tapered roller bearing imports to Hong Kong SAR, with a combined 94% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Germany (with a CAGR of +69.1%), while imports for the other leaders experienced a decline.

In value terms, the largest tapered roller bearing suppliers to Hong Kong SAR were Germany ($X), Japan ($X) and China ($X), with a combined 94% share of total imports.

Germany, with a CAGR of +64.6%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average tapered roller bearing import price stood at $X per ton in 2021, rising by 3.9% against the previous year. Over the period under review, the import price, however, saw a pronounced setback. The growth pace was the most rapid in 2018 when the average import price increased by 6.6%. Over the period under review, average import prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (-2.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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