South-Eastern Asia: Cylindrical Roller Bearing Market 2024

Cylindrical Roller Bearing Market Size in South-Eastern Asia

The Southeast Asian cylindrical roller bearing market rose significantly to $X in 2022, growing by 10% against the previous year. The total consumption indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +7.9% 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 +114.1% against 2012 indices. The level of consumption peaked in 2022 and is expected to retain growth in years to come.

Cylindrical Roller Bearing Production in South-Eastern Asia

In value terms, cylindrical roller bearing production rose notably to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a noticeable reduction. The most prominent rate of growth was recorded in 2020 when the production volume increased by 41%. The level of production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Cylindrical Roller Bearing Exports

Exports in South-Eastern Asia

In 2022, approx. X tons of cylindrical roller bearings were exported in South-Eastern Asia; reducing by -22% on 2021 figures. Over the period under review, exports saw a drastic downturn. The pace of growth was the most pronounced in 2018 when exports increased by 56% against the previous year. The volume of export peaked at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, cylindrical roller bearing exports reduced rapidly to $X in 2022. In general, exports showed a abrupt shrinkage. The pace of growth appeared the most rapid in 2018 when exports increased by 64%. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Singapore represented the main exporting country with an export of about X tons, which finished at 72% of total exports. It was distantly followed by Malaysia (X tons), Thailand (X tons) and Vietnam (X tons), together committing a 27% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to cylindrical roller bearing exports from Singapore stood at -10.3%. At the same time, Vietnam (+120.1%) and Thailand (+7.1%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of +120.1% from 2012-2022. By contrast, Malaysia (-21.6%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Singapore, Thailand and Vietnam increased by +16, +7.3 and +4.6 percentage points, respectively.

In value terms, Singapore ($X) remains the largest cylindrical roller bearing supplier in South-Eastern Asia, comprising 76% of total exports. The second position in the ranking was taken by Malaysia ($X), with a 15% share of total exports. It was followed by Vietnam, with a 5% share.

From 2012 to 2022, the average annual growth rate of value in Singapore stood at -9.8%. In the other countries, the average annual rates were as follows: Malaysia (-20.8% per year) and Vietnam (+125.8% per year).

Export Prices by Country

In 2022, the export price in South-Eastern Asia amounted to $X per ton, rising by 7.5% against the previous year. Overall, the export price showed a relatively flat trend pattern. The level of export peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, 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 Vietnam (+2.6%), while the other leaders experienced more modest paces of growth.

Cylindrical Roller Bearing Imports

Imports in South-Eastern Asia

In 2022, imports of cylindrical roller bearings in South-Eastern Asia rose markedly to X tons, growing by 9.9% compared with 2021 figures. Over the period under review, imports posted resilient growth. The growth pace was the most rapid in 2021 when imports increased by 54% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the near future.

In value terms, cylindrical roller bearing imports stood at $X in 2022. Total imports indicated a noticeable increase from 2012 to 2022: its value increased at an average annual rate of +2.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +35.5% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 29%. The level of import peaked in 2022 and is likely to see gradual growth in the near future.

Imports by Country

In 2022, Thailand (X tons) and Indonesia (X tons) represented the major importers of cylindrical roller bearings in South-Eastern Asia, together reaching near 68% of total imports. Singapore (X tons) ranks next in terms of the total imports with a 17% share, followed by Malaysia (7.6%). The following importers - the Philippines (X tons) and Vietnam (X tons) - each amounted to a 6.8% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of +24.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X), Indonesia ($X) and Thailand ($X) appeared to be the countries with the highest levels of imports in 2022, together comprising 78% of total imports. Malaysia, Vietnam and the Philippines lagged somewhat behind, together accounting for a further 22%.

In terms of the main importing countries, Vietnam, with a CAGR of +23.8%, 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

The import price in South-Eastern Asia stood at $X per ton in 2022, declining by -4.5% against the previous year. Overall, the import price recorded a drastic downturn. The growth pace was the most rapid in 2019 when the import price increased by 6.3% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

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 Singapore ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+0.6%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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