Japan: Ball Bearing Market 2024

Ball Bearing Market Size in Japan

In 2021, the Japanese ball bearing market decreased by -13.2% to $X, falling for the third year in a row after two years of growth. Overall, consumption showed a abrupt contraction. The growth pace was the most rapid in 2018 when the market value increased by 8.8% against the previous year. Ball bearing consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Ball Bearing Production in Japan

In value terms, ball bearing production rose notably to $X in 2021 estimated in export price. Overall, production, however, saw a pronounced setback. The pace of growth was the most pronounced in 2017 when the production volume increased by 6.7%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Ball Bearing Exports

Exports from Japan

In 2021, shipments abroad of ball bearings increased by 35% to X tons for the first time since 2018, thus ending a two-year declining trend. Overall, exports showed a relatively flat trend pattern. Over the period under review, the exports reached the peak figure at X tons in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

In value terms, ball bearing exports skyrocketed to $X in 2021. In general, exports, however, recorded a relatively flat trend pattern. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

China (X tons), the United States (X tons) and Thailand (X tons) were the main destinations of ball bearing exports from Japan, together accounting for 46% of total exports. These countries were followed by Singapore, Germany, the United Arab Emirates, the Netherlands, South Korea, Indonesia, Taiwan (Chinese), India, France and Hong Kong SAR, which together accounted for a further 41%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by India (with a CAGR of +7.6%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for ball bearing exported from Japan were China ($X), the United States ($X) and Germany ($X), together comprising 48% of total exports.

Among the main countries of destination, China, with a CAGR of +4.6%, 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

In 2021, the average ball bearing export price amounted to $X per ton, growing by 2% against the previous year. In general, the export price, however, saw a slight curtailment. The pace of growth was the most pronounced in 2020 when the average export price increased by 7.7%. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Hong Kong SAR ($X per ton), while the average price for exports to Indonesia ($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 the United States (+0.5%), while the prices for the other major destinations experienced mixed trend patterns.

Ball Bearing Imports

Imports into Japan

After two years of decline, purchases abroad of ball bearings increased by 22% to X tons in 2021. The total import volume increased at an average annual rate of +2.7% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, imports reached the maximum at X tons in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, ball bearing imports surged to $X in 2021. Overall, imports continue to indicate a relatively flat trend pattern. Imports peaked at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest ball bearing supplier to Japan, accounting for a 45% share of total imports. Moreover, ball bearing imports from China exceeded the figures recorded by the second-largest supplier, South Korea (X tons), twofold. Thailand (X tons) ranked third in terms of total imports with an 8.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at +3.3%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+0.6% per year) and Thailand (+7.7% per year).

In value terms, China ($X) constituted the largest supplier of ball bearings to Japan, comprising 30% of total imports. The second position in the ranking was taken by South Korea ($X), with a 12% share of total imports. It was followed by Indonesia, with an 11% share.

From 2012 to 2021, the average annual growth rate of value from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+3.2% per year) and Indonesia (+2.6% per year).

Import Prices by Country

In 2021, the average ball bearing import price amounted to $X per ton, with a decrease of -2.4% against the previous year. In general, the import price showed a perceptible contraction. The most prominent rate of growth was recorded in 2019 when the average import price increased by 2.8%. Over the period under review, average import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+3.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :