ASEAN: Ball Bearing Market 2024

Ball Bearing Market Size in ASEAN

The ASEAN ball bearing market expanded modestly to $X in 2022, with an increase of X% against the previous year. In general, consumption, however, showed a relatively flat trend pattern. The level of consumption peaked in 2022 and is likely to continue growth in the immediate term.

Ball Bearing Production in ASEAN

In value terms, ball bearing production stood at $X in 2022 estimated in export price. In general, production, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2020; afterwards, it flattened through to 2022.

Ball Bearing Exports

Exports in ASEAN

In 2022, approx. X tons of ball bearings were exported in ASEAN; remaining relatively unchanged against the previous year. Overall, exports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when exports increased by X% against the previous year. The volume of export peaked at X tons in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, ball bearing exports dropped slightly to $X in 2022. In general, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

In 2022, Thailand (X tons), Singapore (X tons) and Malaysia (X tons) represented the largest exporter of ball bearings in ASEAN, mixing up X% of total export. Indonesia (X tons) held the next position in the ranking, followed by Vietnam (X tons). All these countries together took approx. X% share of total exports. Cambodia (X tons) held a relatively small share of total exports.

From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

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

In terms of the main exporting countries, Vietnam, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in ASEAN amounted to $X per ton, approximately equating the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 an increase of X% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2014 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 Thailand ($X per ton), while Cambodia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (X%), while the other leaders experienced a decline in the export price figures.

Ball Bearing Imports

Imports in ASEAN

In 2022, purchases abroad of ball bearings increased by X% to X tons, rising for the second consecutive year after two years of decline. Overall, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by X%. Over the period under review, imports attained the maximum at X tons in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, ball bearing imports totaled $X in 2022. Over the period under review, imports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of X%. Over the period under review, imports hit record highs at $X in 2012; afterwards, it flattened through to 2022.

Imports by Country

Indonesia was the major importing country with an import of around X tons, which accounted for X% of total imports. It was distantly followed by Malaysia (X tons), Singapore (X tons), Thailand (X tons) and Vietnam (X tons), together generating a X% share of total imports. The Philippines (X tons) held a little share of total imports.

From 2012 to 2022, average annual rates of growth with regard to ball bearing imports into Indonesia stood at X%. At the same time, the Philippines (X%), Vietnam (X%) and Malaysia (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.), Vietnam (X p.p.) and the Philippines (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, the largest ball bearing importing markets in ASEAN were Malaysia ($X), Singapore ($X) and Thailand ($X), with a combined X% share of total imports. Vietnam, Indonesia and the Philippines lagged somewhat behind, together comprising a further X%.

The Philippines, with a CAGR of X%, saw the highest growth rate of the value of imports, among the main importing countries 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 ASEAN stood at $X per ton in 2022, surging by X% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 an increase of X%. Over the period under review, import prices reached the maximum 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 the Philippines ($X per ton), while Indonesia ($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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