Thailand: Roller Bearing Market 2024

Roller Bearing Market Size in Thailand

In 2022, the Thai roller bearing market increased by 9.5% to $X, rising for the second consecutive year after two years of decline. Overall, consumption, however, recorded a mild curtailment. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Roller Bearing Production in Thailand

In value terms, roller bearing production reduced notably to $X in 2022 estimated in export price. In general, production faced a deep downturn. The growth pace was the most rapid in 2014 when the production volume increased by 38% against the previous year. As a result, production attained the peak level of $X. From 2015 to 2022, production growth remained at a somewhat lower figure.

Roller Bearing Exports

Exports from Thailand

In 2022, the amount of roller bearings exported from Thailand dropped to X tons, with a decrease of -5.7% compared with 2021 figures. Overall, exports, however, saw a moderate expansion. The most prominent rate of growth was recorded in 2016 with an increase of 44% against the previous year. As a result, the exports attained the peak of X tons. From 2017 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, roller bearing exports shrank to $X in 2022. In general, total exports indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +5.7% 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 +30.7% against 2020 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 37% against the previous year. As a result, the exports reached the peak of $X, and then fell in the following year.

Exports by Country

In 2022, China (X tons) was the key exporter of roller bearings, achieving 43% of total exports. Singapore (X tons) ranks second in terms of the total exports with a 9.7% share, followed by Germany (7.2%), France (6.9%), Slovakia (5.4%) and the United States (0.8%). Italy (X tons), South Korea (X tons), Indonesia (X tons), Hong Kong SAR (X tons), Turkey (X tons), Austria (X tons) and Romania (X tons) held a little share of total exports.

From 2012 to 2022, average annual rates of growth with regard to roller bearing exports from China stood at +22.6%. At the same time, Indonesia (+35.7%), Turkey (+8.5%), Singapore (+1.2%) and Slovakia (+1.1%) displayed positive paces of growth. Moreover, Indonesia emerged as the fastest-growing exporter exported in the world, with a CAGR of +35.7% from 2012-2022. By contrast, Italy (-1.9%), Germany (-2.0%), France (-2.2%), South Korea (-9.7%), Hong Kong SAR (-13.7%), the United States (-18.4%), Austria (-22.3%) and Romania (-22.4%) illustrated a downward trend over the same period. While the share of China (+37 p.p.) and Indonesia (+2.2 p.p.) increased significantly in terms of the global exports from 2012-2022, the share of Italy (-1.5 p.p.), Germany (-2.6 p.p.), France (-2.7 p.p.), Romania (-4.9 p.p.), Hong Kong SAR (-6 p.p.), South Korea (-6.3 p.p.), the United States (-6.4 p.p.) and Austria (-7.2 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest roller bearing supplying countries from Thailand were China ($X), Singapore ($X) and Germany ($X), together accounting for 45% of total exports. Italy, the United States, France, Hong Kong SAR, Slovakia, South Korea, Austria, Turkey, Indonesia and Romania lagged somewhat behind, together comprising a further 31%.

Indonesia, with a CAGR of +16.1%, recorded the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Thailand stood at $X per ton in 2022, approximately equating the previous year. In general, the export price showed a relatively flat trend pattern. The growth pace was the most rapid in 2019 when the export price increased by 44%. Over the period under review, the export prices hit record highs in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the United States ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+16.3%), while the other leaders experienced more modest paces of growth.

Roller Bearing Imports

Imports into Thailand

For the third year in a row, Thailand recorded growth in supplies from abroad of roller bearings, which increased by 35% to X tons in 2022. Overall, imports posted buoyant growth. The most prominent rate of growth was recorded in 2021 with an increase of 87%. Over the period under review, imports hit record highs in 2022 and are likely to continue growth in the near future.

In value terms, roller bearing imports dropped slightly to $X in 2022. Over the period under review, imports, however, saw a noticeable descent. The most prominent rate of growth was recorded in 2021 when imports increased by 17%. Thailand imports peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Indonesia (X tons), distantly followed by Germany (X tons) and India (X tons) were the major importers of roller bearings, together constituting 26% of total imports. Italy (X tons), Canada (X tons), Malaysia (X tons), Spain (X tons), South Korea (X tons), France (X tons), Singapore (X tons), Poland (X tons), Austria (X tons) and Nigeria (X tons) followed a long way behind the leaders.

Imports into Indonesia increased at an average annual rate of +3.9% from 2012 to 2022. At the same time, Malaysia (+12.1%), Austria (+5.4%), Spain (+4.0%), Italy (+3.6%), Germany (+2.0%), India (+2.0%) and Poland (+1.9%) displayed positive paces of growth. Moreover, Malaysia emerged as the fastest-growing importer imported in the world, with a CAGR of +12.1% from 2012-2022. By contrast, Canada (-2.8%), South Korea (-3.4%), Singapore (-6.2%), France (-7.8%) and Nigeria (-8.9%) illustrated a downward trend over the same period. While the share of Indonesia (+4.9 p.p.) and Malaysia (+1.7 p.p.) increased significantly in terms of the global imports from 2012-2022, the share of Singapore (-1.7 p.p.), Nigeria (-2.4 p.p.) and France (-2.6 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Indonesia ($X), Germany ($X) and India ($X) appeared to be the countries with the highest levels of imports in 2022, together accounting for 24% of total imports.

Among the main importing countries, Indonesia, with a CAGR of +4.2%, recorded 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

The import price in Thailand stood at $X per ton in 2022, with a decrease of -29.4% against the previous year. In general, the import price saw a abrupt shrinkage. The most prominent rate of growth was recorded in 2014 a decrease of -6.5% against the previous year. Over the period under review, import prices reached the peak figure at $X per ton in 2013; however, from 2014 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 Canada ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+6.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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