Thailand: Tools For Bearing Market 2024

Tools For Bearing Market Size in Thailand

After two years of growth, the Thai tools for bearing market decreased by -2.2% to $X in 2022. Over the period under review, the total consumption indicated a modest increase from 2012 to 2022: its value increased at an average annual rate of +1.5% 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 +22.3% against 2019 indices. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Tools For Bearing Production in Thailand

In value terms, tools for bearing production expanded slightly to $X in 2022 estimated in export price. Overall, the total production indicated slight growth from 2012 to 2022: its value increased at an average annual rate of +1.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -2.8% against 2020 indices. The pace of growth appeared the most rapid in 2017 with an increase of 53%. Tools for bearing production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Tools For Bearing Exports

Exports from Thailand

In 2022, approx. X tons of balls, needles and rollers for ball or roller bearings were exported from Thailand; with a decrease of -13.4% compared with the year before. Over the period under review, total exports indicated a notable increase from 2012 to 2022: its volume increased at an average annual rate of +4.8% 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 +31.9% against 2020 indices. The growth pace was the most rapid in 2021 when exports increased by 52%. The exports peaked at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, tools for bearing exports expanded slightly to $X in 2022. In general, total exports indicated pronounced growth 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 +56.2% against 2020 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 53% against the previous year. The exports peaked in 2022 and are likely to continue growth in the immediate term.

Exports by Country

Singapore (X tons), China (X tons) and Taiwan (Chinese) (X tons) were the main destinations of tools for bearing exports from Thailand, with a combined 80% share of total exports. Lao People's Democratic Republic, Indonesia, Vietnam, Italy, Cambodia, India and the UK lagged somewhat behind, together comprising a further 17%.

From 2012 to 2022, the biggest increases were recorded for Lao People's Democratic Republic (with a CAGR of +97.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X), China ($X) and Singapore ($X) constituted the largest markets for tools for bearing exported from Thailand worldwide, with a combined 80% share of total exports.

Italy, with a CAGR of +134.7%, saw 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

The average tools for bearing export price stood at $X per ton in 2022, increasing by 18% against the previous year. Overall, the export price, however, showed a slight slump. The pace of growth was the most pronounced in 2020 when the average export price increased by 61% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Italy ($X per ton), while the average price for exports to Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Italy (+39.9%), while the prices for the other major destinations experienced more modest paces of growth.

Tools For Bearing Imports

Imports into Thailand

In 2022, the amount of balls, needles and rollers for ball or roller bearings imported into Thailand declined to X tons, falling by -12.6% on the previous year's figure. Over the period under review, total imports indicated a noticeable increase from 2012 to 2022: its volume increased at an average annual rate of +3.2% 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 +42.4% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 63% against the previous year. As a result, imports reached the peak of X tons, and then fell in the following year.

In value terms, tools for bearing imports shrank to $X in 2022. In general, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 47%. Imports peaked at $X in 2018; however, from 2019 to 2022, 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 tools for bearing imports to Thailand, together accounting for 95% of total imports. These countries were followed by Taiwan (Chinese), which accounted for a further 3.6%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Taiwan (Chinese) (with a CAGR of +32.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) constituted the largest supplier of balls, needles and rollers for ball or roller bearings to Thailand, comprising 63% of total imports. The second position in the ranking was held by China ($X), with an 18% share of total imports. It was followed by Indonesia, with an 8.6% share.

From 2012 to 2022, the average annual growth rate of value from Japan totaled -1.5%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+1.7% per year) and Indonesia (+11.6% per year).

Import Prices by Country

In 2022, the average tools for bearing import price amounted to $X per ton, standing approx. at the previous year. Overall, the import price showed a pronounced decline. The most prominent rate of growth was recorded in 2019 when the average import price increased by 12%. The import price 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 supplying countries. In 2022, amid the top importers, the country with the highest price was Taiwan (Chinese) ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (-0.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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