ASEAN: Bearing Market 2024

Bearing Market Size in ASEAN

In 2022, the ASEAN bearing market increased by X% to $X, rising for the second consecutive year after two years of decline. In general, consumption showed a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2015 to 2022, the growth of the market remained at a somewhat lower figure.

Bearing Production in ASEAN

In value terms, bearing production reduced slightly to $X in 2022 estimated in export price. Overall, production saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2022, production growth remained at a somewhat lower figure.

Bearing Exports

Exports in ASEAN

Bearing exports dropped to X tons in 2022, falling by X% on 2021. In general, exports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of X%. Over the period under review, the exports attained the peak figure at X tons in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, bearing exports totaled $X in 2022. Over the period under review, exports showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of X%. The level of export peaked at $X in 2014; afterwards, it flattened through to 2022.

Exports by Country

The biggest shipments were from Singapore (X tons), Thailand (X tons) and Malaysia (X tons), together amounting to X% of total export. Vietnam (X tons) ranks next in terms of the total exports with a X% share, followed by Indonesia (X%).

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Vietnam (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest bearing supplying countries in ASEAN were Singapore ($X), Thailand ($X) and Malaysia ($X), together accounting for X% of total exports. Vietnam and Indonesia lagged somewhat behind, together comprising a further X%.

Vietnam, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, in terms of 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 ASEAN stood at $X per ton in 2022, picking up by X% against the previous year. Overall, the export price recorded a relatively flat trend pattern. Over the period under review, the export prices reached the maximum at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Thailand ($X per ton) and Malaysia ($X per ton), while Indonesia ($X per ton) and Singapore ($X per ton) were amongst the lowest.

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

Bearing Imports

Imports in ASEAN

In 2022, overseas purchases of ball and roller bearings increased by X% to X tons, rising for the second year in a row after two years of decline. In general, imports saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, bearing imports expanded rapidly to $X in 2022. Over the period under review, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

Indonesia was the major importer of ball and roller bearings in ASEAN, with the volume of imports resulting at X tons, which was approx. X% of total imports in 2022. Singapore (X tons) ranks second in terms of the total imports with a X% share, followed by Thailand (X%), Malaysia (X%) and Vietnam (X%). The Philippines (X tons) followed a long way behind the leaders.

Imports into Indonesia increased at an average annual rate of X% from 2012 to 2022. At the same time, the Philippines (X%), Malaysia (X%) and Vietnam (X%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing importer imported in ASEAN, with a CAGR of X% from 2012-2022. Thailand experienced a relatively flat trend pattern. By contrast, Singapore (X%) illustrated a downward trend over the same period. Indonesia (X p.p.), Malaysia (X p.p.) and Vietnam (X p.p.) significantly strengthened its position in terms of the total imports, while Singapore saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Singapore ($X), Indonesia ($X) and Thailand ($X) were the countries with the highest levels of imports in 2022, together accounting for X% of total imports. Malaysia, Vietnam and the Philippines lagged somewhat behind, together comprising a further X%.

Among the main importing countries, the Philippines, with a CAGR of X%, 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

In 2022, the import price in ASEAN amounted to $X per ton, rising by X% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2019 an increase of X%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a 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 Singapore ($X per ton), while Indonesia ($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 Philippines (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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