South-Eastern Asia: Bearing Market 2024

Bearing Market Size in South-Eastern Asia

In 2021, after two years of decline, there was significant growth in the Southeast Asian bearing market, when its value increased by 8.5% to $X. In general, consumption, however, showed a relatively flat trend pattern. Over the period under review, the market reached the peak level at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Bearing Production in South-Eastern Asia

In value terms, bearing production rose to $X in 2021 estimated in export price. In general, production, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 36% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2021, production growth remained at a lower figure.

Bearing Exports

Exports in South-Eastern Asia

In 2021, shipments abroad of ball and roller bearings was finally on the rise to reach X tons for the first time since 2017, thus ending a three-year declining trend. Over the period under review, exports, however, recorded a relatively flat trend pattern. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, bearing exports expanded rapidly to $X in 2021. In general, exports, however, saw a relatively flat trend pattern. The level of export peaked at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Singapore was the largest exporting country with an export of about X tons, which amounted to 47% of total exports. Thailand (X tons) took the second position in the ranking, distantly followed by Malaysia (X tons), Indonesia (X tons) and Vietnam (X tons). All these countries together took near 51% share of total exports.

Exports from Singapore decreased at an average annual rate of -3.5% from 2012 to 2021. At the same time, Thailand (+9.6%) and Indonesia (+4.7%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of +9.6% from 2012-2021. Vietnam and Malaysia experienced a relatively flat trend pattern. While the share of Thailand (+13 p.p.) and Indonesia (+3.4 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Singapore (-17.3 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest bearing supplying countries in South-Eastern Asia were Singapore ($X), Thailand ($X) and Malaysia ($X), together accounting for 83% of total exports. Indonesia and Vietnam lagged somewhat behind, together comprising a further 14%.

Vietnam, with a CAGR of +10.9%, recorded the highest rates of growth with regard to the value of exports, among the main exporting countries 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 South-Eastern Asia stood at $X per ton in 2021, waning by -10.6% against the previous year. Overall, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the export price increased by 10%. Over the period under review, the export prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2021, major exporting countries recorded the following prices: in Thailand ($X per ton) and Malaysia ($X per ton), while Indonesia ($X per ton) and Vietnam ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+9.9%), while the other leaders experienced mixed trends in the export price figures.

Bearing Imports

Imports in South-Eastern Asia

In 2021, after two years of decline, there was significant growth in purchases abroad of ball and roller bearings, when their volume increased by 26% to X tons. Overall, imports recorded a relatively flat trend pattern. The volume of import peaked at X tons in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, bearing imports surged to $X in 2021. Over the period under review, imports, however, recorded a slight reduction. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Indonesia (X tons) and Singapore (X tons) were the key importers of ball and roller bearings in 2021, amounting to near 34% and 25% of total imports, respectively. Thailand (X tons) ranks next in terms of the total imports with a 15% share, followed by Vietnam (11%) and Malaysia (9.2%). The Philippines (X tons) held a relatively small share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Vietnam (with a CAGR of +17.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X), Thailand ($X) and Indonesia ($X) constituted the countries with the highest levels of imports in 2021, with a combined 70% share of total imports. Vietnam, Malaysia and the Philippines lagged somewhat behind, together accounting for a further 29%.

The Philippines, with a CAGR of +13.4%, recorded the highest rates of growth with regard to the value of imports, in terms of 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

In 2021, the import price in South-Eastern Asia amounted to $X per ton, waning by -3.9% against the previous year. In general, the import price showed a mild downturn. The most prominent rate of growth was recorded in 2014 an increase of 18% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, 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 Thailand ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (+9.0%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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