Report Update Nov 1, 2024

Philippines - Needle Roller Bearings - Market Analysis, Forecast, Size, Trends and Insights

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Philippines: Needle Roller Bearing Market 2024

Needle Roller Bearing Market Size in the Philippines

In 2021, after two years of decline, there was significant growth in the Philippine needle roller bearing market, when its value increased by 62% to $X. Over the period under review, consumption saw a temperate expansion. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Needle Roller Bearing Exports

Exports from the Philippines

In 2021, shipments abroad of needle roller bearings was finally on the rise to reach X tons after two years of decline. Over the period under review, exports saw a significant increase. The pace of growth appeared the most rapid in 2014 when exports increased by 345,800%. Over the period under review, the exports attained the peak figure at X tons in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

In value terms, needle roller bearing exports skyrocketed to $X in 2021. Overall, exports enjoyed a significant expansion. The most prominent rate of growth was recorded in 2014 with an increase of 17,080%. Over the period under review, the exports reached the maximum at $X in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

Exports by Country

Thailand (X tons) was the main destination for needle roller bearing exports from the Philippines, accounting for a approx. 100% share of total exports.

From 2013 to 2021, the average annual rate of growth in terms of volume to Thailand totaled +39.6%.

In value terms, Thailand ($X) also remains the key foreign market for needle roller bearing exports from the Philippines.

From 2013 to 2021, the average annual growth rate of value to Thailand amounted to +53.8%.

Export Prices by Country

The average needle roller bearing export price stood at $X per ton in 2021, which is down by -5.2% against the previous year. Over the period under review, the export price recorded a significant decrease. The most prominent rate of growth was recorded in 2019 when the average export price increased by 72% against the previous year. The export price peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for Thailand.

From 2013 to 2021, the rate of growth in terms of prices for Thailand amounted to +10.2% per year.

Needle Roller Bearing Imports

Imports into the Philippines

After two years of decline, overseas purchases of needle roller bearings increased by 46% to X tons in 2021. Overall, imports saw a notable expansion. The most prominent rate of growth was recorded in 2014 with an increase of 373%. Imports peaked at X tons in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, needle roller bearing imports skyrocketed to $X in 2021. Over the period under review, imports recorded a strong expansion. The growth pace was the most rapid in 2014 when imports increased by 265%. Over the period under review, imports reached the peak figure at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

Singapore (X tons), Taiwan (Chinese) (X tons) and Japan (X tons) were the main suppliers of needle roller bearing imports to the Philippines, together comprising 82% of total imports. China, the United States, Germany and India lagged somewhat behind, together accounting for a further 13%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the United States (with a CAGR of +3.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest needle roller bearing suppliers to the Philippines were Singapore ($X), Taiwan (Chinese) ($X) and Japan ($X), with a combined 82% share of total imports.

Japan, with a CAGR of +18.1%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average needle roller bearing import price stood at $X per ton in 2021, picking up by 3% against the previous year. Overall, the import price recorded a remarkable increase. The growth pace was the most rapid in 2019 an increase of 87%. The import price peaked in 2021 and is likely to see gradual growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2021, the highest price was recorded for prices from India ($X per ton) and China ($X per ton), while the price for Singapore ($X per ton) and Germany ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+17.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for needle roller bearings in the world?

The countries with the highest volumes of in 2021 were China, the United States and Germany, together accounting for 44% of global consumption. India, Mexico, Brazil, Japan, Russia, Canada, France, Vietnam, South Korea and the Philippines lagged somewhat behind, together comprising a further 34%.

What are the largest producers of needle roller bearings in the world?

China remains the largest needle roller bearing producing country worldwide, comprising approx. 28% of total volume. Moreover, needle roller bearing production in China exceeded the figures recorded by the second-largest producer, Japan, twofold. The third position in this ranking was occupied by the United States, with an 8.4% share.

What are the leading suppliers of needle roller bearings to the Philippines?

In value terms, Singapore, Taiwan Chinese) and Japan were the largest needle roller bearing suppliers to the Philippines, together comprising 82% of total imports.

What are the leading importers of needle roller bearings from the Philippines?

In value terms, Thailand remains the key foreign market for needle roller bearing exports from the Philippines.

What is the average export price for needle roller bearings in the Philippines?

The average needle roller bearing export price stood at $16,065 per ton in 2021, dropping by -4.1% against the previous year.

What is the average import price for needle roller bearings in the Philippines?

In 2021, the average needle roller bearing import price amounted to $28,947 per ton, picking up by 3% against the previous year.

This report provides an in-depth analysis of the needle roller bearing market in the Philippines. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 28151070 - Needle roller bearings

Country coverage:

Philippines

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in the Philippines
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023