Myanmar: Tapered Roller Bearing Market 2024

Tapered Roller Bearing Market Size in Myanmar

The Myanmar's tapered roller bearing market contracted to $X in 2022, declining by -7.4% against the previous year. Over the period under review, consumption showed a noticeable curtailment. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market remained at a somewhat lower figure.

Tapered Roller Bearing Production in Myanmar

In value terms, tapered roller bearing production contracted to $X in 2022 estimated in export price. In general, production continues to indicate a slight slump. The growth pace was the most rapid in 2018 when the production volume increased by 116%. As a result, production reached the peak level of $X. From 2019 to 2022, production growth remained at a lower figure.

Tapered Roller Bearing Exports

Exports from Myanmar

In 2022, the amount of tapered roller bearings exported from Myanmar surged to X kg, with an increase of 28% against 2021. Overall, exports, however, showed a sharp shrinkage. The pace of growth appeared the most rapid in 2019 with an increase of 616% against the previous year. The Myanmar exports peaked at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, tapered roller bearing exports surged to $X in 2022. In general, exports, however, showed a drastic downturn. The most prominent rate of growth was recorded in 2019 with an increase of 688% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

In 2022, China (X tons) was the largest exporter of tapered roller bearings, constituting 29% of total exports. It was distantly followed by Japan (X tons), Germany (X tons), Romania (X tons), France (X tons) and Austria (X tons), together comprising a 37% share of total exports. The following exporters - South Korea (X tons), India (X tons), Poland (X tons), Hungary (X tons), the United States (X tons), Italy (X tons) and Thailand (X tons) - together made up 21% of total exports.

Exports from China increased at an average annual rate of +16.4% from 2012 to 2022. At the same time, Thailand (+27.1%), India (+15.2%), Romania (+8.6%), South Korea (+8.6%), Hungary (+4.5%), Poland (+3.0%), Germany (+2.4%) and Italy (+1.6%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing exporter exported in the world, with a CAGR of +27.1% from 2012-2022. Japan and France experienced a relatively flat trend pattern. By contrast, Austria (-3.7%) and the United States (-9.3%) illustrated a downward trend over the same period. While the share of China (+20 p.p.), India (+2.9 p.p.), Romania (+2.2 p.p.), South Korea (+1.8 p.p.) and Thailand (+1.6 p.p.) increased significantly in terms of the global exports from 2012-2022, the share of France (-2.4 p.p.), Japan (-4.6 p.p.), Austria (-4.6 p.p.) and the United States (-6.6 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest tapered roller bearing supplying countries from Myanmar were Germany ($X), China ($X) and the United States ($X), with a combined 39% share of total exports. Japan, France, Romania, India, Austria, South Korea, Hungary, Poland, Italy and Thailand lagged somewhat behind, together comprising a further 47%.

Among the main exporting countries, India, with a CAGR of +12.2%, recorded 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 export price in Myanmar stood at $X per ton in 2022, jumping by 103% against the previous year. Overall, the export price showed a buoyant increase. The most prominent rate of growth was recorded in 2018 an increase of 171% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+11.3%), while the other leaders experienced more modest paces of growth.

Tapered Roller Bearing Imports

Imports into Myanmar

In 2022, the amount of tapered roller bearings imported into Myanmar surged to X tons, increasing by 82% on the previous year's figure. Overall, imports, however, showed a noticeable setback. The most prominent rate of growth was recorded in 2017 with an increase of 6,742% against the previous year. Over the period under review, imports attained the maximum at X tons in 2013; however, from 2014 to 2022, imports remained at a lower figure.

In value terms, tapered roller bearing imports skyrocketed to $X in 2022. In general, imports, however, continue to indicate a deep slump. The most prominent rate of growth was recorded in 2017 with an increase of 9,375% against the previous year. Myanmar imports peaked at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

Germany (X tons) and the United States (X tons) were the main importers of tapered roller bearings in 2022, resulting at near 15% and 11% of total imports, respectively. China (X tons) ranks next in terms of the total imports with a 6.3% share, followed by Brazil (6.3%), France (5.4%) and Mexico (5.1%). The following importers - Italy (X tons), Russia (X tons), Sweden (X tons), Turkey (X tons), Australia (X tons), India (X tons) and Canada (X tons) - together made up 19% of total imports.

From 2012 to 2022, the biggest increases were recorded for Australia (with a CAGR of +9.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest tapered roller bearing importing markets into Myanmar were Germany ($X), the United States ($X) and China ($X), with a combined 34% share of total imports. France, Mexico, Brazil, Italy, Australia, India, Canada, Sweden, Turkey and Russia lagged somewhat behind, together comprising a further 33%.

Among the main importing countries, Turkey, with a CAGR of +6.2%, recorded the highest rates of growth with regard to 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 2022, the import price in Myanmar amounted to $X per ton, dropping by -11% against the previous year. Over the period under review, the import price continues to indicate a noticeable shrinkage. The most prominent rate of growth was recorded in 2017 an increase of 38%. Over the period under review, import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was China ($X per ton), while Brazil ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+1.7%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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