Malaysia: Ball Bearing Parts Market 2024

Ball Bearing Parts Market Size in Malaysia

In 2021, after four years of decline, there was significant growth in the Malaysian ball bearing parts market, when its value increased by 78% to $X. Overall, consumption recorded mild growth. As a result, consumption reached the peak level of $X. From 2017 to 2021, the growth of the market remained at a somewhat lower figure.

Ball Bearing Parts Exports

Exports from Malaysia

In 2021, shipments abroad of parts of ball or roller bearings decreased by -3.1% to X tons, falling for the second consecutive year after four years of growth. Over the period under review, exports, however, continue to indicate a prominent increase. The pace of growth appeared the most rapid in 2016 when exports increased by 154% against the previous year. The exports peaked at X tons in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

In value terms, ball bearing parts exports surged to $X in 2021. Overall, exports, however, saw a resilient expansion. The growth pace was the most rapid in 2017 when exports increased by 141%. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Singapore (X tons) was the main destination for ball bearing parts exports from Malaysia, accounting for a 38% share of total exports. Moreover, ball bearing parts exports to Singapore exceeded the volume sent to the second major destination, Russia (X tons), twofold. Thailand (X tons) ranked third in terms of total exports with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Singapore stood at +27.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Russia (+54.8% per year) and Thailand (+12.3% per year).

In value terms, Singapore ($X) emerged as the key foreign market for parts of ball or roller bearings exports from Malaysia, comprising 43% of total exports. The second position in the ranking was taken by Thailand ($X), with a 7.1% share of total exports. It was followed by Belgium, with a 6.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Singapore totaled +16.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (-2.0% per year) and Belgium (+185.0% per year).

Export Prices by Country

The average ball bearing parts export price stood at $X per ton in 2021, growing by 61% against the previous year. Over the period under review, the export price, however, recorded a perceptible decline. Over the period under review, the average export prices reached the peak figure at $X per ton in 2015; however, from 2016 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Indonesia ($X per ton), while the average price for exports to Russia ($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 Vietnam (+15.7%), while the prices for the other major destinations experienced mixed trend patterns.

Ball Bearing Parts Imports

Imports into Malaysia

In 2021, approx. X tons of parts of ball or roller bearings were imported into Malaysia; with an increase of 23% compared with the year before. Overall, total imports indicated pronounced growth from 2012 to 2021: its volume increased at an average annual rate of +2.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -24.9% against 2016 indices. The pace of growth appeared the most rapid in 2016 when imports increased by 85%. As a result, imports reached the peak of X tons. From 2017 to 2021, the growth of imports remained at a lower figure.

In value terms, ball bearing parts imports soared to $X in 2021. Over the period under review, total imports indicated a measured increase from 2012 to 2021: its value increased at an average annual rate of +4.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2016 when imports increased by 91% against the previous year. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the immediate term.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of ball bearing parts to Malaysia, accounting for a 66% share of total imports. Moreover, ball bearing parts imports from China exceeded the figures recorded by the second-largest supplier, Sweden (X tons), sixfold. The third position in this ranking was taken by Singapore (X tons), with a 3.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Sweden (+8.9% per year) and Singapore (+2.4% per year).

In value terms, China ($X) constituted the largest supplier of parts of ball or roller bearings to Malaysia, comprising 34% of total imports. The second position in the ranking was taken by Sweden ($X), with a 16% share of total imports. It was followed by Singapore, with a 7% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Sweden (+7.4% per year) and Singapore (+2.2% per year).

Import Prices by Country

The average ball bearing parts import price stood at $X per ton in 2021, rising by 49% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.8%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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 2021, the most notable rate of growth in terms of prices was attained by India (+2.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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