Thailand: Needle Roller Bearing Market 2024

Needle Roller Bearing Market Size in Thailand

The Thai needle roller bearing market soared to $X in 2021, increasing by 176% against the previous year. Overall, consumption showed significant growth. Needle roller bearing consumption peaked in 2021 and is expected to retain growth in the near future.

Needle Roller Bearing Production in Thailand

In value terms, needle roller bearing production reduced remarkably to $X in 2021 estimated in export price. Overall, production enjoyed a significant expansion. The most prominent rate of growth was recorded in 2020 when the production volume increased by 51,905%. As a result, production attained the peak level of $X, and then reduced dramatically in the following year.

Needle Roller Bearing Exports

Exports from Thailand

In 2021, overseas shipments of needle roller bearings increased by 48% to X tons, rising for the second year in a row after two years of decline. In general, exports posted a significant expansion. The most prominent rate of growth was recorded in 2020 when exports increased by 386% against the previous year. The exports peaked in 2021 and are expected to retain growth in the near future.

In value terms, needle roller bearing exports soared to $X in 2021. Overall, exports continue to indicate a resilient increase. The pace of growth was the most pronounced in 2017 when exports increased by 82% against the previous year. The exports peaked in 2021 and are likely to continue growth in the immediate term.

Exports by Country

Turkey (X tons) was the main destination for needle roller bearing exports from Thailand, with a 75% share of total exports. Moreover, needle roller bearing exports to Turkey exceeded the volume sent to the second major destination, India (X tons), more than tenfold. The third position in this ranking was held by Indonesia (X tons), with a 6.8% share.

From 2012 to 2021, the average annual growth rate of volume to Turkey amounted to +657.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+55.3% per year) and Indonesia (+23.7% per year).

In value terms, India ($X), Indonesia ($X) and Vietnam ($X) appeared to be the largest markets for needle roller bearing exported from Thailand worldwide, together comprising 94% of total exports. Singapore, Turkey and Spain lagged somewhat behind, together accounting for a further 1%.

Spain, with a CAGR of +158.7%, recorded the highest rates of growth with regard to the value of exports, in terms of 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 needle roller bearing export price stood at $X per ton in 2021, rising by 4.6% against the previous year. Over the period under review, the export price, however, showed a drastic downturn. The pace of growth was the most pronounced in 2018 when the average export price increased by 39% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Vietnam ($X per ton), while the average price for exports to Turkey ($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 Singapore (-1.7%), while the prices for the other major destinations experienced a decline.

Needle Roller Bearing Imports

Imports into Thailand

In 2021, overseas purchases of needle roller bearings increased by 29% to X tons for the first time since 2018, thus ending a two-year declining trend. Overall, imports enjoyed a resilient expansion. The growth pace was the most rapid in 2015 with an increase of 60% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, needle roller bearing imports soared to $X in 2021. Over the period under review, total imports indicated moderate growth from 2012 to 2021: its value increased at an average annual rate of +3.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, imports attained the peak figure at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Japan (X tons) constituted the largest needle roller bearing supplier to Thailand, accounting for a 61% share of total imports. Moreover, needle roller bearing imports from Japan exceeded the figures recorded by the second-largest supplier, China (X tons), threefold. Taiwan (Chinese) (X tons) ranked third in terms of total imports with a 7.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Japan totaled +3.8%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+26.2% per year) and Taiwan (Chinese) (+4.9% per year).

In value terms, Japan ($X) constituted the largest supplier of needle roller bearing to Thailand, comprising 61% of total imports. The second position in the ranking was held by China ($X), with a 19% share of total imports. It was followed by Taiwan (Chinese), with a 7.5% share.

From 2012 to 2021, the average annual growth rate of value from Japan stood at +1.2%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+22.9% per year) and Taiwan (Chinese) (+2.2% per year).

Import Prices by Country

In 2021, the average needle roller bearing import price amounted to $X per ton, standing approx. at the previous year. Overall, the import price showed a pronounced setback. The most prominent rate of growth was recorded in 2019 when the average import price increased by 36%. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2021, the countries with the highest prices were the Philippines ($X per ton) and India ($X per ton), while the price for Slovakia ($X per ton) and China ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (-2.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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