Thailand: Ball Bearing Market 2024

Ball Bearing Market Size in Thailand

The Thai ball bearing market reached $X in 2021, with an increase of 7.3% against the previous year. The market value increased at an average annual rate of +1.8% from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. Ball bearing consumption peaked in 2021 and is likely to see gradual growth in the near future.

Ball Bearing Production in Thailand

In value terms, ball bearing production amounted to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +4.4% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 with an increase of 34%. Ball bearing production peaked at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Ball Bearing Exports

Exports from Thailand

In 2021, after two years of decline, there was significant growth in shipments abroad of ball bearings, when their volume increased by 18% to X tons. In general, total exports indicated a prominent expansion from 2012 to 2021: its volume increased at an average annual rate of +8.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2014 when exports increased by 25% against the previous year. The exports peaked at X tons in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, ball bearing exports skyrocketed to $X in 2021. Over the period under review, total exports indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +9.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Indonesia (X tons), China (X tons) and Hong Kong SAR (X tons) were the main destinations of ball bearing exports from Thailand, together accounting for 51% of total exports. Germany, Japan, Pakistan, the Philippines, the United States, Vietnam, Singapore, South Korea, India and Argentina lagged somewhat behind, together comprising a further 39%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Pakistan (with a CAGR of +48.3%), while the other leaders experienced more modest paces of growth.

In value terms, China ($X) remains the key foreign market for ball bearings exports from Thailand, comprising 23% of total exports. The second position in the ranking was held by Hong Kong SAR ($X), with an 11% share of total exports. It was followed by Indonesia, with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of value to China stood at +32.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (+7.8% per year) and Indonesia (+2.3% per year).

Export Prices by Country

The average ball bearing export price stood at $X per ton in 2021, rising by 4.2% against the previous year. In general, the export price showed a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the average export price increased by 11%. Over the period under review, the average export prices hit record highs in 2021 and is expected to retain growth in the immediate term.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was the Philippines ($X per ton), while the average price for exports to Pakistan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the Philippines (+4.1%), while the prices for the other major destinations experienced more modest paces of growth.

Ball Bearing Imports

Imports into Thailand

In 2021, supplies from abroad of ball bearings was finally on the rise to reach X tons for the first time since 2017, thus ending a three-year declining trend. In general, total imports indicated a modest increase from 2012 to 2021: its volume increased at an average annual rate of +1.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2017 with an increase of 86% against the previous year. As a result, imports attained the peak of X tons. From 2018 to 2021, the growth of imports remained at a lower figure.

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

Imports by Country

Japan (X tons), China (X tons) and Indonesia (X tons) were the main suppliers of ball bearing imports to Thailand, together comprising 75% of total imports.

From 2012 to 2021, the biggest increases were recorded for China (with a CAGR of +13.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest ball bearing suppliers to Thailand were Japan ($X), China ($X) and Indonesia ($X), together comprising 75% of total imports.

Among the main suppliers, China, with a CAGR of +6.3%, saw 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

In 2021, the average ball bearing import price amounted to $X per ton, with a decrease of -5.9% against the previous year. Over the period under review, the import price recorded a pronounced curtailment. The most prominent rate of growth was recorded in 2016 an increase of 31% against the previous year. The import price peaked at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was Germany ($X per ton), while the price for France ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+3.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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