South-Eastern Asia: Bearing Market 2024

Bearing Market Size in South-Eastern Asia

After two years of growth, the Southeast Asian bearing market decreased by X% to $X in 2022. The total consumption indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by X% against 2014 indices. As a result, consumption attained the peak level of $X, and then fell modestly in the following year.

Bearing Production in South-Eastern Asia

In value terms, bearing production reduced to $X in 2022 estimated in export price. In general, production recorded a mild slump. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Bearing Exports

Exports in South-Eastern Asia

In 2022, exports of ball or roller bearings in South-Eastern Asia contracted to X tons, reducing by X% compared with 2021. Over the period under review, exports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when exports increased by X% against the previous year. As a result, the exports reached the peak of X tons, and then dropped in the following year.

In value terms, bearing exports reduced to $X in 2022. In general, exports showed a slight decrease. The pace of growth was the most pronounced in 2021 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

Singapore (X tons) and Thailand (X tons) represented the major exporters of ball or roller bearings in 2022, reaching near X% and X% of total exports, respectively. Indonesia (X tons) took a X% share (based on physical terms) of total exports, which put it in second place, followed by Malaysia (X%) and Vietnam (X%).

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

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

Vietnam, with a CAGR of X%, recorded the highest growth rate of 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 2022, approximately mirroring the previous year. Over the period under review, the export price continues to indicate a mild downturn. The pace of growth appeared the most rapid in 2014 when the export price increased by X%. As a result, the export price attained the peak level of $X per ton. From 2015 to 2022, the export prices failed to regain momentum.

Average prices varied somewhat amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Vietnam ($X per ton) and Malaysia ($X per ton), while Thailand ($X per ton) and Indonesia ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (X%), while the other leaders experienced mixed trends in the export price figures.

Bearing Imports

Imports in South-Eastern Asia

For the third year in a row, South-Eastern Asia recorded growth in supplies from abroad of ball or roller bearings, which increased by X% to X tons in 2022. Over the period under review, imports posted buoyant growth. The pace of growth appeared the most rapid in 2020 with an increase of X%. Over the period under review, imports reached the maximum in 2022 and are likely to see gradual growth in the immediate term.

In value terms, bearing imports dropped to $X in 2022. In general, imports, however, continue to indicate a slight descent. The growth pace was the most rapid in 2021 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Thailand was the largest importer of ball or roller bearings in South-Eastern Asia, with the volume of imports resulting at X tons, which was near X% of total imports in 2022. Indonesia (X tons) took the second position in the ranking, distantly followed by Singapore (X tons). All these countries together took approx. X% share of total imports. The following importers - Vietnam (X tons), Malaysia (X tons) and the Philippines (X tons) - together made up X% of total imports.

Thailand was also the fastest-growing in terms of the ball or roller bearings imports, with a CAGR of X% from 2012 to 2022. At the same time, the Philippines (X%), Indonesia (X%) and Vietnam (X%) displayed positive paces of growth. Malaysia experienced a relatively flat trend pattern. By contrast, Singapore (X%) illustrated a downward trend over the same period. Thailand (X p.p.) significantly strengthened its position in terms of the total imports, while Vietnam, Malaysia, Indonesia and Singapore saw its share reduced by X%, X%, X% and X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

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

The Philippines, with a CAGR of X%, 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 South-Eastern Asia stood at $X per ton in 2022, declining by X% against the previous year. In general, the import price showed a abrupt descent. The growth pace was the most rapid in 2014 an increase of X%. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Vietnam ($X per ton), while Thailand ($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 Philippines (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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