Malaysia: Bearing Market 2024

Bearing Market Size in Malaysia

The Malaysian bearing market fell slightly to $X in 2022, waning by X% against the previous year. Overall, consumption, however, saw a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market failed to regain momentum.

Bearing Production in Malaysia

In value terms, bearing production reached $X in 2022 estimated in export price. Over the period under review, production, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the production volume increased by X%. As a result, production attained the peak level of $X. From 2019 to 2022, production growth remained at a somewhat lower figure.

Bearing Exports

Exports from Malaysia

In 2022, after three years of growth, there was significant decline in overseas shipments of ball or roller bearings, when their volume decreased by X% to X tons. Over the period under review, exports saw a slight descent. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. As a result, the exports reached the peak of X tons, and then reduced in the following year.

In value terms, bearing exports declined to $X in 2022. Overall, exports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when exports increased by X%. As a result, the exports attained the peak of $X, and then reduced in the following year.

Exports by Country

Singapore (X tons), Russia (X tons) and China (X tons) were the main destinations of bearing exports from Malaysia, with a combined X% share of total exports. Thailand, Lithuania, Belgium, Vietnam, Indonesia, India, Japan, the United States, Australia and Hong Kong SAR lagged somewhat behind, together comprising a further X%.

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

In value terms, Singapore ($X), Russia ($X) and China ($X) were the largest markets for bearing exported from Malaysia worldwide, with a combined X% share of total exports. Lithuania, Thailand, Vietnam, Belgium, Japan, Indonesia, India, Hong Kong SAR, the United States and Australia lagged somewhat behind, together accounting for a further X%.

Among the main countries of destination, Belgium, with a CAGR of X%, saw the highest rates of growth with regard to 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 bearing export price stood at $X per ton in 2021, with an increase of X% against the previous year. In general, the export price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when the average export price increased by X% against the previous year. The export price peaked at $X per ton in 2014; however, from 2015 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 Japan ($X per ton), while the average price for exports to India ($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 Japan (X%), while the prices for the other major destinations experienced more modest paces of growth.

Bearing Imports

Imports into Malaysia

In 2022, imports of ball or roller bearings into Malaysia reduced notably to X tons, declining by X% compared with the year before. Overall, imports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when imports increased by X%. As a result, imports reached the peak of X tons, and then dropped significantly in the following year.

In value terms, bearing imports dropped rapidly to $X in 2022. In general, imports saw a mild curtailment. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, imports attained the peak of $X, and then shrank significantly in the following year.

Imports by Country

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

From 2012 to 2021, the average annual growth rate of volume from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (X% per year) and Germany (X% per year).

In value terms, China ($X) constituted the largest supplier of ball or roller bearings to Malaysia, comprising X% of total imports. The second position in the ranking was taken by Japan ($X), with a X% share of total imports. It was followed by Germany, with a X% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (X% per year) and Germany (X% per year).

Import Prices by Country

In 2021, the average bearing import price amounted to $X per ton, remaining constant against the previous year. Over the period under review, the import price, however, recorded a mild slump. The pace of growth appeared the most rapid in 2013 an increase of X%. As a result, import price attained the peak level of $X per ton. From 2014 to 2021, the average import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the highest price was recorded for prices from South Korea ($X per ton) and the United States ($X per ton), while the price for Sweden ($X per ton) and Germany ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform

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