Vietnam: Bearing Market 2024

Bearing Market Size in Vietnam

The Vietnamese bearing market contracted sharply to $X in 2022, which is down by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption saw a mild slump. Over the period under review, the market attained the peak level at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Bearing Exports

Exports from Vietnam

In 2022, the amount of ball or roller bearings exported from Vietnam rose significantly to X tons, picking up by X% on 2021. In general, exports saw resilient growth. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, bearing exports skyrocketed to $X in 2022. Overall, exports continue to indicate a prominent expansion. The pace of growth was the most pronounced in 2016 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

Exports by Country

The United Arab Emirates (X tons) was the main destination for bearing exports from Vietnam, accounting for a X% share of total exports. Moreover, bearing exports to the United Arab Emirates exceeded the volume sent to the second major destination, Myanmar (X tons), sevenfold. The third position in this ranking was taken by China (X tons), with a X% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United Arab Emirates totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Myanmar (X% per year) and China (X% per year).

In value terms, the United Arab Emirates ($X), Myanmar ($X) and China ($X) were the largest markets for bearing exported from Vietnam worldwide.

Among the main countries of destination, Myanmar, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average bearing export price stood at $X per ton in 2021, waning by X% against the previous year. In general, the export price showed a mild downturn. The pace of growth appeared the most rapid in 2014 when the average export price increased by X% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2018; however, from 2019 to 2021, the export prices stood at a somewhat lower figure.

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

Bearing Imports

Imports into Vietnam

In 2022, the amount of ball or roller bearings imported into Vietnam contracted to X tons, reducing by X% compared with 2021 figures. In general, total imports indicated perceptible growth from 2012 to 2022: its volume increased at an average annual rate of X% 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 X% against 2020 indices. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. Over the period under review, imports attained the maximum at X tons in 2021, and then shrank in the following year.

In value terms, bearing imports contracted to $X in 2022. The total import value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 with an increase of X%. As a result, imports reached the peak of $X, and then declined in the following year.

Imports by Country

In 2021, the United Arab Emirates (X tons) was the main bearing supplier to Vietnam, accounting for a X% share of total imports. It was followed by China (X tons), with a X% share of total imports. The third position in this ranking was held by Japan (X tons), with a X% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United Arab Emirates totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and Japan (X% per year).

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

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

Import Prices by Country

In 2021, the average bearing import price amounted to $X per ton, waning by X% against the previous year. Over the period under review, the import price showed a mild slump. The pace of growth appeared the most rapid in 2020 when the average import price increased by X% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per ton), while the price for the United Arab Emirates ($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 (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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