Indonesia: Spherical Roller Bearing Market 2024

Spherical Roller Bearing Market Size in Indonesia

The Indonesian spherical roller bearing market stood at $X in 2021, growing by 10% 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). In general, consumption continues to indicate a strong expansion. Spherical roller bearing consumption peaked at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Spherical Roller Bearing Exports

Exports from Indonesia

Spherical roller bearing exports from Indonesia fell slightly to X tons in 2021, dropping by -2.2% on the year before. Over the period under review, exports continue to indicate a abrupt curtailment. The most prominent rate of growth was recorded in 2018 when exports increased by 408% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

In value terms, spherical roller bearing exports contracted to $X in 2021. Overall, exports continue to indicate a deep setback. The most prominent rate of growth was recorded in 2018 when exports increased by 539%. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Malaysia (X tons) was the main destination for spherical roller bearing exports from Indonesia, accounting for a 44% share of total exports. Moreover, spherical roller bearing exports to Malaysia exceeded the volume sent to the second major destination, Timor-Leste (X tons), twofold. The third position in this ranking was held by Australia (X tons), with a 20% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Malaysia stood at +82.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Timor-Leste (+132.7% per year) and Australia (+94.1% per year).

In value terms, the largest markets for spherical roller bearing exported from Indonesia were Australia ($X), Malaysia ($X) and Singapore ($X), with a combined 82% share of total exports.

Australia, with a CAGR of +119.0%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average spherical roller bearing export price amounted to $X per ton, shrinking by -2.9% against the previous year. Overall, export price indicated a slight expansion from 2012 to 2021: its price increased at an average annual rate of +1.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, spherical roller bearing export price increased by +185.2% against 2014 indices. The growth pace was the most rapid in 2015 when the average export price increased by 128%. Over the period under review, the average export prices hit record highs at $X per ton in 2020, and then reduced slightly in the following year.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Germany ($X per ton), while the average price for exports to Timor-Leste ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+52.7%), while the prices for the other major destinations experienced more modest paces of growth.

Spherical Roller Bearing Imports

Imports into Indonesia

In 2021, imports of spherical roller bearings into Indonesia rose markedly to X tons, increasing by 12% on the previous year. Overall, imports posted a noticeable expansion. The most prominent rate of growth was recorded in 2017 when imports increased by 58% against the previous year. 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, spherical roller bearing imports expanded rapidly to $X in 2021. Over the period under review, imports enjoyed a prominent increase. The pace of growth was the most pronounced in 2017 with an increase of 94%. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest spherical roller bearing supplier to Indonesia, with a 53% share of total imports. Moreover, spherical roller bearing imports from China exceeded the figures recorded by the second-largest supplier, Germany (X tons), fourfold. Japan (X tons) ranked third in terms of total imports with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at -2.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+30.9% per year) and Japan (+11.0% per year).

In value terms, the largest spherical roller bearing suppliers to Indonesia were China ($X), Germany ($X) and Sweden ($X), with a combined 65% share of total imports. Japan, Malaysia, India, the United States, Singapore and the UK lagged somewhat behind, together comprising a further 31%.

India, with a CAGR of +74.7%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average spherical roller bearing import price stood at $X per ton in 2021, dropping by -2.4% against the previous year. In general, import price indicated buoyant growth from 2012 to 2021: its price increased at an average annual rate of +6.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, spherical roller bearing import price increased by +85.0% against 2014 indices. The most prominent rate of growth was recorded in 2013 when the average import price increased by 41% against the previous year. The import price peaked at $X per ton in 2020, and then fell slightly in the following year.

Prices varied noticeably country of origin: the country with the highest price was the UK ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+9.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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