Global Tools For Bearing Market 2024

Tools For Bearing Market Size

The global tools for bearing market stood at $X in 2022, therefore, remained relatively stable against the previous year. In general, the total consumption indicated a moderate expansion from 2012 to 2022: its value increased at an average annual rate of +3.1% 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 +6.6% against 2020 indices. Global consumption peaked at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Tools For Bearing Production

In value terms, tools for bearing production contracted modestly to $X in 2022 estimated in export price. Overall, the total production indicated a notable increase from 2012 to 2022: its value increased at an average annual rate of +2.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +2.0% against 2020 indices. The growth pace was the most rapid in 2018 with an increase of 28% against the previous year. Global production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Tools For Bearing Exports

Exports

In 2022, global exports of balls, needles and rollers for ball or roller bearings contracted modestly to X tons, reducing by -4.3% against the previous year. The total export volume increased at an average annual rate of +1.3% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 24%. The global exports peaked at X tons in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, tools for bearing exports fell to $X in 2022. Overall, exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when exports increased by 28%. The global exports peaked at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

China was the major exporter of balls, needles and rollers for ball or roller bearings in the world, with the volume of exports recording X tons, which was approx. 46% of total exports in 2022. It was distantly followed by Germany (X tons), Poland (X tons), Japan (X tons) and Italy (X tons), together creating a 26% share of total exports. India (X tons), Spain (X tons), Slovakia (X tons), Hungary (X tons) and the United States (X tons) took a little share of total exports.

Exports from China increased at an average annual rate of +3.1% from 2012 to 2022. At the same time, India (+12.2%), Poland (+5.9%), Hungary (+2.0%) and Spain (+2.0%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing exporter exported in the world, with a CAGR of +12.2% from 2012-2022. Germany and Slovakia experienced a relatively flat trend pattern. By contrast, Japan (-1.6%), Italy (-4.3%) and the United States (-4.6%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China, Poland and India increased by +7.4, +2.4 and +2.1 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest tools for bearing supplying countries worldwide were China ($X), Germany ($X) and Japan ($X), together comprising 49% of global exports. The United States, Poland, Italy, Spain, India, Slovakia and Hungary lagged somewhat behind, together comprising a further 30%.

India, with a CAGR of +10.9%, 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 global leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average tools for bearing export price amounted to $X per ton, which is down by -1.9% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 an increase of 3%. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+2.9%), while the other global leaders experienced more modest paces of growth.

Tools For Bearing Imports

Imports

Global tools for bearing imports declined to X tons in 2022, shrinking by -6.8% on 2021 figures. The total import volume increased at an average annual rate of +2.3% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 with an increase of 23% against the previous year. Over the period under review, global imports hit record highs at X tons in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, tools for bearing imports shrank slightly to $X in 2022. The total import value increased at an average annual rate of +1.2% from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of 26% against the previous year. Over the period under review, global imports hit record highs at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

The countries with the highest levels of tools for bearing imports in 2022 were Mexico (X tons), France (X tons), Germany (X tons), South Korea (X tons), the United States (X tons), Slovakia (X tons), India (X tons), Romania (X tons), Italy (X tons), China (X tons), Thailand (X tons) and Austria (X tons), together accounting for 73% of total import. Japan (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +10.4%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, Germany ($X), China ($X) and South Korea ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined 28% share of global imports. Italy, the United States, France, Mexico, Slovakia, India, Romania, Thailand, Japan and Austria lagged somewhat behind, together accounting for a further 46%.

Italy, with a CAGR of +8.0%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices by Country

The average tools for bearing import price stood at $X per ton in 2022, surging by 5.6% against the previous year. In general, the import price, however, saw a mild downturn. Global 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 importing countries. In 2022, amid the top importers, the country with the highest price was China ($X per ton), while Mexico ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+6.7%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

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