Eastern Asia: Bearing Market 2024

Bearing Market Size in Eastern Asia

In 2022, the East Asian bearing market decreased by X% to $X, falling for the third consecutive year after six years of growth. In general, consumption showed a pronounced decline. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market failed to regain momentum.

Bearing Production in Eastern Asia

In value terms, bearing production reduced to $X in 2022 estimated in export price. Over the period under review, production, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. Over the period under review, production reached the peak level at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Bearing Exports

Exports in Eastern Asia

For the seventh consecutive year, Eastern Asia recorded growth in shipments abroad of ball and roller bearings, which increased by X% to X tons in 2022. Over the period under review, exports recorded prominent growth. The pace of growth appeared the most rapid in 2021 when exports increased by X%. The volume of export peaked in 2022 and is likely to continue growth in years to come.

In value terms, bearing exports contracted to $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 relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. As a result, the exports attained the peak of $X, leveling off in the following year.

Exports by Country

In 2022, China (X tons) represented the main exporter of ball and roller bearings, achieving X% of total exports. It was distantly followed by Japan (X tons) and South Korea (X tons), together achieving a X% share of total exports.

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, South Korea (X%) displayed positive paces of growth. Japan experienced a relatively flat trend pattern. From 2012 to 2022, the share of China increased by X percentage points.

In value terms, the largest bearing supplying countries in Eastern Asia were China ($X), Japan ($X) and South Korea ($X), together comprising X% of total exports.

Among the main exporting countries, China, with a CAGR of X%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2022, which is down by X% against the previous year. Overall, the export price showed a abrupt descent. The growth pace was the most rapid in 2018 when the export price increased by X% against the previous year. Over the period under review, the export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Japan ($X per ton), while China ($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 a decline in the export price figures.

Bearing Imports

Imports in Eastern Asia

In 2022, approx. X tons of ball and roller bearings were imported in Eastern Asia; shrinking by X% compared with the year before. The total import volume increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2019 when imports increased by X% against the previous year. As a result, imports reached the peak of X tons. From 2020 to 2022, the growth of imports remained at a lower figure.

In value terms, bearing imports contracted to $X in 2022. Overall, imports, however, continue to indicate mild growth. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, imports reached the peak of $X, and then declined in the following year.

Imports by Country

China was the largest importing country with an import of around X tons, which finished at X% of total imports. South Korea (X tons) ranks second in terms of the total imports with an X% share, followed by Japan (X%), Hong Kong SAR (X%) and Taiwan (Chinese) (X%).

China was also the fastest-growing in terms of the ball and roller bearings imports, with a CAGR of X% from 2012 to 2022. At the same time, Japan (X%) displayed positive paces of growth. South Korea experienced a relatively flat trend pattern. By contrast, Taiwan (Chinese) (X%) and Hong Kong SAR (X%) illustrated a downward trend over the same period. China (X p.p.) significantly strengthened its position in terms of the total imports, while Taiwan (Chinese), South Korea and Hong Kong SAR saw its share reduced by X%, 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 ($X) constitutes the largest market for imported ball and roller bearings in Eastern Asia, comprising X% of total imports. The second position in the ranking was held by South Korea ($X), with a X% share of total imports. It was followed by Japan, with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in China stood at X%. In the other countries, the average annual rates were as follows: South Korea (X% per year) and Japan (X% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2022, remaining relatively unchanged against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when the import price increased by X%. Over the period under review, import prices attained the maximum 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 ($X per ton), while South Korea ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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