Asia-Pacific: Bearing Market 2024

Bearing Market Size in Asia-Pacific

In 2022, the Asia-Pacific bearing market decreased by X% to $X, falling for the third year in a row after four years of growth. Overall, consumption showed a mild curtailment. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market remained at a lower figure.

Bearing Production in Asia-Pacific

In value terms, bearing production shrank slightly to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Bearing Exports

Exports in Asia-Pacific

In 2022, the amount of ball and roller bearings exported in Asia-Pacific rose notably to X tons, growing by X% on the previous year. Overall, exports enjoyed a resilient increase. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. The volume of export peaked in 2022 and is expected to retain growth in the near future.

In value terms, bearing exports stood at $X in 2022. The total export value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations in certain years. The pace of growth was the most pronounced in 2021 with an increase of X%. The level of export peaked in 2022 and is expected to retain growth in the near future.

Exports by Country

China represented the major exporter of ball and roller bearings in Asia-Pacific, with the volume of exports recording X tons, which was near X% of total exports in 2022. Japan (X tons) took the second position in the ranking, distantly followed by South Korea (X tons). All these countries together took approx. X% share of total exports. Singapore (X tons), India (X tons) and Thailand (X tons) followed a long way behind the leaders.

China was also the fastest-growing in terms of the ball and roller bearings exports, with a CAGR of X% from 2012 to 2022. At the same time, India (X%), Thailand (X%) and South Korea (X%) displayed positive paces of growth. Japan experienced a relatively flat trend pattern. By contrast, Singapore (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China increased by X percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest bearing supplying countries in Asia-Pacific were China ($X), Japan ($X) and South Korea ($X), together accounting for X% of total exports. Singapore, Thailand and India lagged somewhat behind, together comprising a further X%.

India, with a CAGR of X%, saw 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 leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Asia-Pacific stood at $X per ton in 2022, reducing by X% against the previous year. Over the period under review, the export price continues to indicate a deep contraction. The pace of growth was the most pronounced in 2018 an increase of X% against the previous year. The level of export peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

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

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

Bearing Imports

Imports in Asia-Pacific

In 2022, imports of ball and roller bearings in Asia-Pacific declined to X tons, waning by X% on 2021 figures. The total import volume increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. The volume of import peaked at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, bearing imports dropped modestly to $X in 2022. Overall, 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. As a result, imports reached the peak of $X, and then dropped in the following year.

Imports by Country

China was the key importer of ball and roller bearings in Asia-Pacific, with the volume of imports accounting for X tons, which was near X% of total imports in 2022. Indonesia (X tons) took a X% share (based on physical terms) of total imports, which put it in second place, followed by South Korea (X%), India (X%), Japan (X%), Singapore (X%) and Thailand (X%). Malaysia (X tons), Hong Kong SAR (X tons), Taiwan (Chinese) (X tons), Vietnam (X tons), Australia (X tons) and Bangladesh (X tons) took a little share of total imports.

From 2012 to 2022, average annual rates of growth with regard to bearing imports into China stood at X%. At the same time, Bangladesh (X%), Malaysia (X%), Vietnam (X%), Indonesia (X%), Japan (X%) and India (X%) displayed positive paces of growth. Moreover, Bangladesh emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of X% from 2012-2022. Australia, South Korea and Thailand experienced a relatively flat trend pattern. By contrast, Taiwan (Chinese) (X%), Hong Kong SAR (X%) and Singapore (X%) illustrated a downward trend over the same period. China (X p.p.), Indonesia (X p.p.) and Bangladesh (X p.p.) significantly strengthened its position in terms of the total imports, while Hong Kong SAR and Singapore saw its share reduced by X% and X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported ball and roller bearings in Asia-Pacific, comprising X% of total imports. The second position in the ranking was taken by India ($X), with a X% share of total imports. It was followed by South Korea, with a X% share.

In China, bearing imports expanded at an average annual rate of X% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: India (X% per year) and South Korea (X% per year).

Import Prices by Country

The import price in Asia-Pacific stood at $X per ton in 2022, rising by X% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of X% against the previous year. Over the period under review, import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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 Hong Kong SAR ($X per ton), while Bangladesh ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :