Thailand: Bearing Market 2024

Bearing Market Size in Thailand

In 2022, the Thai bearing market decreased by X% to $X for the first time since 2017, thus ending a four-year rising trend. In general, consumption, however, enjoyed a prominent increase. Over the period under review, the market attained the maximum level at $X in 2021, and then contracted in the following year.

Bearing Production in Thailand

In value terms, bearing production fell markedly to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a abrupt descent. The pace of growth was the most pronounced in 2016 when the production volume increased by X% against the previous year. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Bearing Exports

Exports from Thailand

In 2022, exports of ball or roller bearings from Thailand stood at X tons, surging by X% on the year before. Overall, exports posted a remarkable increase. The most prominent rate of growth was recorded in 2021 when exports increased by X%. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, bearing exports reached $X in 2022. In general, exports showed a remarkable increase. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in years to come.

Exports by Country

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

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 X%), while the other leaders experienced more modest paces of growth.

In value terms, China ($X), Indonesia ($X) and Hong Kong SAR ($X) were the largest markets for bearing exported from Thailand worldwide, together accounting for X% of total exports.

China, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average bearing export price amounted to $X per ton, dropping by X% against the previous year. Overall, the export price showed a noticeable slump. The most prominent rate of growth was recorded in 2019 when the average export price increased by X%. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was India ($X per ton), while the average price for exports to South Africa ($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 India (X%), while the prices for the other major destinations experienced more modest paces of growth.

Bearing Imports

Imports into Thailand

After two years of growth, purchases abroad of ball or roller bearings decreased by X% to X tons in 2022. In general, imports, however, recorded significant growth. The growth pace was the most rapid in 2020 when imports increased by X% against the previous year. Imports peaked at X tons in 2021, and then dropped in the following year.

In value terms, bearing imports reduced modestly to $X in 2022. Over the period under review, imports showed a slight decline. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Japan (X tons), China (X tons) and South Korea (X tons) were the main suppliers of bearing imports to Thailand, with a combined X% share of total imports.

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

In value terms, Japan ($X) constituted the largest supplier of ball or roller bearings to Thailand, comprising X% of total imports. The second position in the ranking was taken by China ($X), with a X% share of total imports. It was followed by Germany, with a X% share.

From 2012 to 2021, the average annual growth rate of value from Japan stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and Germany (X% per year).

Import Prices by Country

The average bearing import price stood at $X per ton in 2021, reducing by X% against the previous year. Over the period under review, the import price showed a precipitous setback. The most prominent rate of growth was recorded in 2019 an increase of X%. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for South Korea ($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 United States (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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