South-Eastern Asia: Tapered Roller Bearing Market 2024

Tapered Roller Bearing Market Size in South-Eastern Asia

The Southeast Asian tapered roller bearing market amounted to $X in 2022, rising by 4.8% against the previous year. In general, consumption recorded a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Tapered Roller Bearing Production in South-Eastern Asia

In value terms, tapered roller bearing production reduced to $X in 2022 estimated in export price. Over the period under review, production, however, showed a modest increase. The pace of growth was the most pronounced in 2018 with an increase of 21% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2022, production growth failed to regain momentum.

Tapered Roller Bearing Exports

Exports in South-Eastern Asia

In 2022, overseas shipments of tapered roller bearings increased by 5.3% to X tons, rising for the second year in a row after three years of decline. In general, exports recorded a buoyant expansion. The pace of growth was the most pronounced in 2021 with an increase of 71% against the previous year. The volume of export peaked in 2022 and is expected to retain growth in the immediate term.

In value terms, tapered roller bearing exports rose notably to $X in 2022. Total exports indicated a moderate expansion from 2012 to 2022: its value increased at an average annual rate of +3.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +45.1% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 38%. The level of export peaked in 2022 and is expected to retain growth in the immediate term.

Exports by Country

Thailand (X tons) and Singapore (X tons) prevails in exports structure, together constituting 89% of total exports. Malaysia (X tons) held a 4.9% share (based on physical terms) of total exports, which put it in second place, followed by Vietnam (4.7%).

From 2012 to 2022, the biggest increases were recorded for Thailand (with a CAGR of +27.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X) remains the largest tapered roller bearing supplier in South-Eastern Asia, comprising 65% of total exports. The second position in the ranking was held by Thailand ($X), with a 21% share of total exports. It was followed by Vietnam, with a 6.1% share.

In Singapore, tapered roller bearing exports expanded at an average annual rate of +2.4% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Thailand (+11.4% per year) and Vietnam (+2.7% per year).

Export Prices by Country

In 2022, the export price in South-Eastern Asia amounted to $X per ton, remaining relatively unchanged against the previous year. Over the period under review, the export price, however, continues to indicate a perceptible descent. The pace of growth appeared the most rapid in 2019 an increase of 9.1%. The level of export peaked at $X per ton in 2012; however, from 2013 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 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 Vietnam (+2.4%), while the other leaders experienced a decline in the export price figures.

Tapered Roller Bearing Imports

Imports in South-Eastern Asia

In 2022, approx. X tons of tapered roller bearings were imported in South-Eastern Asia; jumping by 19% against the previous year. Overall, imports posted a resilient increase. The pace of growth appeared the most rapid in 2021 when imports increased by 58% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the immediate term.

In value terms, tapered roller bearing imports reached $X in 2022. Total imports indicated a notable expansion from 2012 to 2022: its value increased at an average annual rate of +2.0% 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 +55.2% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 44% against the previous year. The level of import peaked in 2022 and is likely to see steady growth in years to come.

Imports by Country

Singapore (X tons), Indonesia (X tons) and Thailand (X tons) represented roughly 86% of total imports in 2022. Malaysia (X tons) ranks next in terms of the total imports with a 5.7% share, followed by the Philippines (5.6%). Vietnam (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by the Philippines (with a CAGR of +18.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest tapered roller bearing importing markets in South-Eastern Asia were Singapore ($X), Indonesia ($X) and Thailand ($X), together accounting for 83% of total imports. Malaysia, the Philippines and Vietnam lagged somewhat behind, together comprising a further 17%.

The Philippines, with a CAGR of +12.9%, recorded the highest growth rate of 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

The import price in South-Eastern Asia stood at $X per ton in 2022, which is down by -9.5% against the previous year. Overall, the import price continues to indicate a pronounced reduction. The pace of growth was the most pronounced in 2019 an increase of 7%. Over the period under review, import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: 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 Vietnam (+1.1%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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