Indonesia: Tools For Bearing Market 2024

Tools For Bearing Market Size in Indonesia

The Indonesian tools for bearing market contracted to $X in 2022, shrinking by -2.7% against the previous year. In general, consumption showed a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market remained at a lower figure.

Tools For Bearing Production in Indonesia

In value terms, tools for bearing production contracted modestly to $X in 2022 estimated in export price. In general, production saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 with an increase of 27% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2022, production growth remained at a lower figure.

Tools For Bearing Exports

Exports from Indonesia

Tools for bearing exports from Indonesia contracted to X tons in 2022, dropping by -13.1% on the year before. Over the period under review, exports, however, enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2013 with an increase of 71% against the previous year. The exports peaked at X tons in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, tools for bearing exports declined to $X in 2022. Overall, total exports indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +7.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +25.3% against 2020 indices. The pace of growth appeared the most rapid in 2021 when exports increased by 40%. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

South Korea (X tons), Thailand (X tons) and India (X tons) were the main destinations of tools for bearing exports from Indonesia, with a combined 82% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by India (with a CAGR of +19.4%), while the other leaders experienced more modest paces of growth.

In value terms, South Korea ($X), Thailand ($X) and India ($X) appeared to be the largest markets for tools for bearing exported from Indonesia worldwide, together accounting for 79% of total exports.

Among the main countries of destination, India, with a CAGR of +16.8%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average tools for bearing export price stood at $X per ton in 2022, increasing by 2.6% against the previous year. In general, the export price, however, recorded a perceptible contraction. The growth pace was the most rapid in 2018 when the average export price increased by 4.4%. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major foreign markets. In 2022, amid the top suppliers, the countries with the highest prices were the Philippines ($X per ton) and Japan ($X per ton), while the average price for exports to Thailand ($X per ton) and India ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Philippines (+1.3%), while the prices for the other major destinations experienced a decline.

Tools For Bearing Imports

Imports into Indonesia

In 2022, imports of balls, needles and rollers for ball or roller bearings into Indonesia rose rapidly to X tons, growing by 6% on the previous year's figure. In general, imports, however, showed a noticeable shrinkage. The pace of growth appeared the most rapid in 2018 when imports increased by 30% against the previous year. Imports peaked at X tons in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, tools for bearing imports expanded notably to $X in 2022. Overall, imports, however, continue to indicate a abrupt shrinkage. The pace of growth was the most pronounced in 2021 when imports increased by 30% against the previous year. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest tools for bearing supplier to Indonesia, with a 65% share of total imports. Moreover, tools for bearing imports from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), fourfold. The third position in this ranking was held by Taiwan (Chinese) (X tons), with an 11% share.

From 2012 to 2022, the average annual growth rate of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-1.7% per year) and Taiwan (Chinese) (-4.8% per year).

In value terms, Japan ($X) constituted the largest supplier of balls, needles and rollers for ball or roller bearings to Indonesia, comprising 52% of total imports. The second position in the ranking was held by China ($X), with a 26% share of total imports. It was followed by Taiwan (Chinese), with a 6.4% share.

From 2012 to 2022, the average annual growth rate of value from Japan totaled +1.4%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-9.6% per year) and Taiwan (Chinese) (-3.4% per year).

Import Prices by Country

In 2022, the average tools for bearing import price amounted to $X per ton, rising by 3.7% against the previous year. In general, the import price, however, showed a pronounced decline. The most prominent rate of growth was recorded in 2021 when the average import price increased by 51% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($X per ton), while the price for China ($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 (+9.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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