ASEAN: Tools For Bearing Market 2024

Tools For Bearing Market Size in ASEAN

In 2022, the ASEAN tools for bearing market decreased by X% to $X for the first time since 2019, thus ending a two-year rising trend. In general, consumption recorded a relatively flat trend pattern. Over the period under review, the market attained the peak level at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Tools For Bearing Production in ASEAN

In value terms, tools for bearing production reached $X in 2022 estimated in export price. Over the period under review, production, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Tools For Bearing Exports

Exports in ASEAN

Tools for bearing exports dropped slightly to X tons in 2022, flattening at the year before. Total exports indicated prominent 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, exports increased by X% against 2020 indices. The pace of growth was the most pronounced in 2013 with an increase of X%. Over the period under review, the exports hit record highs at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, tools for bearing exports rose markedly to $X in 2022. The total export value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at $X in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

Exports by Country

Indonesia was the major exporter of balls, needles and rollers for ball or roller bearings in ASEAN, with the volume of exports resulting at X tons, which was near X% of total exports in 2022. Thailand (X tons) ranks second in terms of the total exports with a X% share, followed by Malaysia (X%), Vietnam (X%) and Singapore (X%).

From 2012 to 2022, average annual rates of growth with regard to tools for bearing exports from Indonesia stood at X%. At the same time, Vietnam (X%), Malaysia (X%) and Thailand (X%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of X% from 2012-2022. 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 exports, while Thailand and Singapore saw its share reduced by X% and X% from 2012 to 2022, respectively.

In value terms, Thailand ($X) remains the largest tools for bearing supplier in ASEAN, comprising X% of total exports. The second position in the ranking was taken by Indonesia ($X), with a X% share of total exports. It was followed by Malaysia, with an X% share.

In Thailand, tools for bearing exports increased at an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Indonesia (X% per year) and Malaysia (X% per year).

Export Prices by Country

In 2022, the export price in ASEAN amounted to $X per ton, rising by X% against the previous year. Overall, the export price, however, showed a pronounced curtailment. The most prominent rate of growth was recorded in 2020 when the export price increased by X%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Thailand ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

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

Tools For Bearing Imports

Imports in ASEAN

In 2022, the amount of balls, needles and rollers for ball or roller bearings imported in ASEAN shrank slightly to X tons, approximately equating the year before. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, tools for bearing imports dropped to $X in 2022. In general, imports, however, 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 attained the maximum at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Thailand (X tons) was the key importer of balls, needles and rollers for ball or roller bearings, constituting X% of total imports. Malaysia (X tons) ranks second in terms of the total imports with a X% share, followed by the Philippines (X%), Vietnam (X%), Indonesia (X%) and Singapore (X%). Myanmar (X tons) took a little share of total imports.

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

In value terms, the largest tools for bearing importing markets in ASEAN were Thailand ($X), Malaysia ($X) and Vietnam ($X), with a combined X% share of total imports. The Philippines, Singapore, Indonesia and Myanmar lagged somewhat behind, together accounting for a further X%.

In terms of the main importing countries, the Philippines, with a CAGR of X%, saw the highest growth rate of 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, shrinking by X% against the previous year. Overall, the import price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 when the import price increased by X%. Over the period under review, import prices hit record highs at $X per ton in 2021, and then dropped in the following year.

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 Vietnam ($X per ton), while Myanmar ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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