Singapore: Cylindrical Roller Bearing Market 2024

Cylindrical Roller Bearing Market Size in Singapore

The Singaporean cylindrical roller bearing market rose markedly to $X in 2022, growing by 11% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption saw a buoyant increase. Over the period under review, the market attained the peak level in 2022 and is likely to see steady growth in the immediate term.

Cylindrical Roller Bearing Exports

Exports from Singapore

In 2022, cylindrical roller bearing exports from Singapore dropped rapidly to X tons, reducing by -21% on the year before. In general, exports faced a deep setback. The pace of growth appeared the most rapid in 2018 when exports increased by 68%. The Singapore exports peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, cylindrical roller bearing exports shrank to $X in 2022. Over the period under review, exports saw a deep slump. The pace of growth appeared the most rapid in 2018 with an increase of 74%. The Singapore exports peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The biggest shipments were from Germany (X tons), China (X tons) and Japan (X tons), together recording 53% of total export. Romania (X tons) took a 7.7% share (based on physical terms) of total exports, which put it in second place, followed by Slovakia (5.6%). Taiwan (Chinese) (X tons), Kazakhstan (X tons), Canada (X tons), Russia (X tons), Hong Kong SAR (X tons), Poland (X tons), France (X tons) and Italy (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Taiwan (Chinese) (with a CAGR of +43.8%), while the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) remains the largest cylindrical roller bearing supplier from Singapore, comprising 27% of global exports. The second position in the ranking was taken by Japan ($X), with an 11% share of global exports. It was followed by China, with an 8.9% share.

In Germany, cylindrical roller bearing exports remained relatively stable over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Japan (-0.3% per year) and China (+6.6% per year).

Export Prices by Country

In 2022, the export price in Singapore amounted to $X per ton, increasing by 10% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was France ($X per ton), while Russia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+3.3%), while the other leaders experienced more modest paces of growth.

Cylindrical Roller Bearing Imports

Imports into Singapore

Cylindrical roller bearing imports into Singapore dropped to X tons in 2022, with a decrease of -10% against the previous year. Over the period under review, imports saw a perceptible slump. The most prominent rate of growth was recorded in 2021 when imports increased by 20%. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, cylindrical roller bearing imports stood at $X in 2022. Overall, imports showed a mild contraction. The pace of growth was the most pronounced in 2021 when imports increased by 27% against the previous year. Singapore imports peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

China (X tons), Russia (X tons) and Germany (X tons) represented roughly 42% of total imports in 2022. It was distantly followed by the United States (X tons), comprising a 5.7% share of total imports. Spain (X tons), Mexico (X tons), Italy (X tons), Brazil (X tons), Thailand (X tons), South Korea (X tons), Indonesia (X tons), Turkey (X tons) and the Czech Republic (X tons) held a little share of total imports.

From 2012 to 2022, the biggest increases were recorded for Thailand (with a CAGR of +20.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Germany ($X) and the United States ($X) constituted the countries with the highest levels of imports in 2022, together comprising 43% of total imports. Mexico, Italy, Brazil, Russia, South Korea, Spain, Indonesia, Turkey, the Czech Republic and Thailand lagged somewhat behind, together comprising a further 23%.

Spain, with a CAGR of +13.7%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Singapore stood at $X per ton in 2022, with an increase of 12% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+2.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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