Republic of Korea - Ball and Roller Bearings - Market Analysis, Forecast, Size, Trends And Insights
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View PricingBearing Price in South Korea - 2022
Contents:
- Bearing Price in South Korea (CIF) - 2022
- Bearing Price in South Korea (FOB) - 2022
- Bearing Imports in South Korea
- Bearing Exports in South Korea
Bearing Price in South Korea (CIF) - 2022
In December 2022, the average bearing import price amounted to $15,229 per ton, almost unchanged from the previous month. Over the period under review, the import price saw a relatively flat trend pattern. The pace of growth was the most pronounced in February 2022 when the average import price increased by 15% month-to-month. As a result, import price attained the peak level of $17,230 per ton. From March 2022 to December 2022, the average import prices remained at a somewhat lower figure.
There were significant differences in the average prices amongst the major supplying countries. In December 2022, the country with the highest price was the United States ($92,426 per ton), while the price for Indonesia ($2,135 per ton) was amongst the lowest.
From December 2021 to December 2022, the most notable rate of growth in terms of prices was attained by France (+2.2%), while the prices for the other major suppliers experienced more modest paces of growth.
Bearing Price in South Korea (FOB) - 2022
In December 2022, the average bearing export price amounted to $12,208 per ton, increasing by 2.6% against the previous month. Over the period under review, the export price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in June 2022 an increase of 5.2% against the previous month. The export price peaked at $12,272 per ton in December 2021; however, from January 2022 to December 2022, the export prices stood at a somewhat lower figure.
There were significant differences in the average prices for the major external markets. In December 2022, the country with the highest price was India ($15,807 per ton), while the average price for exports to Mexico ($9,427 per ton) was amongst the lowest.
From December 2021 to December 2022, the most notable rate of growth in terms of prices was recorded for supplies to Singapore (+2.2%), while the prices for the other major destinations experienced more modest paces of growth.
Bearing Imports in South Korea
In 2022, imports of ball and roller bearings into South Korea declined markedly to 21K tons, reducing by -58.5% on the previous year's figure. In general, imports showed a sharp contraction. The growth pace was the most rapid in 2021 with an increase of 30% against the previous year. As a result, imports attained the peak of 50K tons, and then reduced sharply in the following year.
In value terms, bearing imports contracted markedly to $395M in 2022. Over the period under review, imports saw a abrupt slump. The most prominent rate of growth was recorded in 2021 when imports increased by 25% against the previous year. As a result, imports attained the peak of $780M, and then fell sharply in the following year.
| Import of Bearing in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | CAGR, 2019-2020 | ||
| Japan | 315 | 274 | -13.0% | ||
| China | 292 | 269 | -7.9% | ||
| Germany | 121 | 85.4 | -29.4% | ||
| United States | 93.9 | 72.6 | -22.7% | ||
| France | 27.3 | 25.0 | -8.4% | ||
| Thailand | 24.1 | 18.4 | -23.7% | ||
| Romania | 16.6 | 15.7 | -5.4% | ||
| Slovakia | 16.6 | 13.4 | -19.3% | ||
| Italy | 18.2 | 12.6 | -30.8% | ||
| Others | -211.0 | -162.3 | -23.1% | ||
| Total | 714 | 624 | -12.6% | ||
Top Suppliers of Bearing to South Korea in 2022:
- Slovakia (undefinedK tons)
- Romania (undefinedK tons)
- Italy (undefinedK tons)
- France (undefinedK tons)
- Thailand (undefinedK tons)
- Japan (0.3K tons)
- China (0.3K tons)
- United States (0.1K tons)
- Germany (0.1K tons)
Bearing Exports in South Korea
In 2022, the amount of ball and roller bearings exported from South Korea plummeted to 35K tons, reducing by -47.8% compared with the year before. Over the period under review, exports showed a dramatic slump. The growth pace was the most rapid in 2021 when exports increased by 17% against the previous year.
In value terms, bearing exports shrank notably to $525M in 2022. Overall, exports faced a abrupt contraction. The growth pace was the most rapid in 2021 when exports increased by 21% against the previous year. As a result, the exports attained the peak of $783M, and then declined rapidly in the following year.
| Export of Bearing in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | CAGR, 2019-2020 | ||
| China | 164 | 184 | 12.2% | ||
| United States | 197 | 162 | -17.8% | ||
| Mexico | 97.3 | 70.8 | -27.2% | ||
| Japan | 81.4 | 65.2 | -19.9% | ||
| Germany | 82.2 | 62.6 | -23.8% | ||
| Vietnam | 12.6 | 28.9 | 129.4% | ||
| India | 36.8 | 25.8 | -29.9% | ||
| France | 23.1 | 21.5 | -6.9% | ||
| Hong Kong SAR | 16.6 | 16.0 | -3.6% | ||
| Thailand | 21.2 | 15.7 | -25.9% | ||
| Canada | 24.0 | 14.6 | -39.2% | ||
| Brazil | 24.4 | 12.4 | -49.2% | ||
| Others | -11.8 | -34.2 | 189.8% | ||
| Total | 770 | 645 | -16.2% | ||
Top Export Markets for Bearing from South Korea in 2022:
- Brazil (undefinedK tons)
- Canada (undefinedK tons)
- India (undefinedK tons)
- France (undefinedK tons)
- Vietnam (undefinedK tons)
- Thailand (undefinedK tons)
- Hong Kong SAR (undefinedK tons)
- China (0.3K tons)
- United States (0.2K tons)
- Mexico (0.1K tons)
- Japan (0.1K tons)
- Germany (0.1K tons)
This report provides an in-depth analysis of the bearing market in Republic of Korea. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 28151030 - Ball bearings
- Prodcom 28151053 - Tapered roller bearings (including cone and tapered roller assemblies)
- Prodcom 28151055 - Spherical roller bearings
- Prodcom 28151057 - Cylindrical roller bearings (excluding roller bearings, needle roller bearings)
- Prodcom 28151070 - Needle roller bearings
- Prodcom 28151090 - Roller bearings (including combined ball/roller bearings) (excluding tapered roller bearings, spherical roller bearings, n eedle roller bearings)
Country coverage:
- South Korea
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Republic of Korea
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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This report provides an in-depth analysis of the bearing market in Republic of Korea.
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