Japan: Ball Bearing Parts Market 2024

Ball Bearing Parts Market Size in Japan

In 2021, the Japanese ball bearing parts market decreased by -16.2% to $X, falling for the third consecutive year after two years of growth. In general, consumption showed a drastic downturn. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Ball Bearing Parts Production in Japan

In value terms, ball bearing parts production rose rapidly to $X in 2021 estimated in export price. Over the period under review, production, however, saw a abrupt setback. Ball bearing parts production peaked at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Ball Bearing Parts Exports

Exports from Japan

After two years of decline, shipments abroad of parts of ball or roller bearings increased by 42% to X tons in 2021. Over the period under review, exports, however, recorded a noticeable reduction. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, ball bearing parts exports soared to $X in 2021. Overall, exports, however, showed a pronounced slump. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

The United States (X tons) was the main destination for ball bearing parts exports from Japan, accounting for a 39% share of total exports. Moreover, ball bearing parts exports to the United States exceeded the volume sent to the second major destination, China (X tons), threefold. The third position in this ranking was held by Thailand (X tons), with an 8.8% share.

From 2012 to 2021, the average annual growth rate of volume to the United States was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: China (-7.8% per year) and Thailand (-4.9% per year).

In value terms, China ($X), the United States ($X) and Thailand ($X) constituted the largest markets for ball bearing parts exported from Japan worldwide, together accounting for 61% of total exports. France, South Korea, Indonesia, Mexico, the UK, India, Germany, Brazil, Canada and Romania lagged somewhat behind, together accounting for a further 27%.

Mexico, with a CAGR of +9.2%, saw the highest rates of growth with regard to 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

The average ball bearing parts export price stood at $X per ton in 2021, surging by 6% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 an increase of 9.2%. Over the period under review, the average export prices attained the peak figure 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 export markets. In 2021, amid the top suppliers, the country with the highest price was South Korea ($X per ton), while the average price for exports to Romania ($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 China (+8.2%), while the prices for the other major destinations experienced more modest paces of growth.

Ball Bearing Parts Imports

Imports into Japan

In 2021, overseas purchases of parts of ball or roller bearings were finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. In general, imports recorded a remarkable increase. Over the period under review, imports hit record highs at X tons in 2018; afterwards, it flattened through to 2021.

In value terms, ball bearing parts imports skyrocketed to $X in 2021. Overall, total imports indicated a temperate increase from 2012 to 2021: its value increased at an average annual rate of +4.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, imports hit record highs 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 supplier of ball bearing parts to Japan, with a 50% share of total imports. Moreover, ball bearing parts imports from China exceeded the figures recorded by the second-largest supplier, South Korea (X tons), threefold. India (X tons) ranked third in terms of total imports with a 12% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at +4.8%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+10.4% per year) and India (+38.1% per year).

In value terms, China ($X), Vietnam ($X) and South Korea ($X) appeared to be the largest ball bearing parts suppliers to Japan, with a combined 69% share of total imports. Indonesia, India, the United States, Taiwan (Chinese) and Thailand lagged somewhat behind, together accounting for a further 23%.

Among the main suppliers, India, with a CAGR of +31.4%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average ball bearing parts import price amounted to $X per ton, with a decrease of -6.9% against the previous year. Over the period under review, the import price showed a pronounced decrease. The most prominent rate of growth was recorded in 2020 an increase of 7.3%. Over the period under review, average import prices attained the maximum at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+11.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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