Eastern Asia: Ball Bearing Market 2024

Ball Bearing Market Size in Eastern Asia

In 2022, the East Asian ball bearing market decreased by X% to $X, falling for the third year in a row after three years of growth. In general, consumption continues to indicate a pronounced setback. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market remained at a somewhat lower figure.

Ball Bearing Production in Eastern Asia

In value terms, ball bearing production contracted modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2019 when the production volume increased by X%. As a result, production reached the peak level of $X. From 2020 to 2022, production growth remained at a somewhat lower figure.

Ball Bearing Exports

Exports in Eastern Asia

Ball bearing exports surged to X tons in 2022, growing by X% against the previous year's figure. In general, exports saw a buoyant expansion. The pace of growth appeared the most rapid in 2021 when exports increased by X%. Over the period under review, the exports reached the peak figure in 2022 and are likely to continue growth in the immediate term.

In value terms, ball bearing exports stood at $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 pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. The level of export peaked in 2022 and is likely to see steady growth in the near future.

Exports by Country

China was the major exporter of ball bearings in Eastern Asia, with the volume of exports finishing at X tons, which was near X% of total exports in 2022. Japan (X tons) ranks second in terms of the total exports with a X% share, followed by South Korea (X%). Taiwan (Chinese) (X tons) followed a long way behind the leaders.

China was also the fastest-growing in terms of the ball bearings exports, with a CAGR of X% from 2012 to 2022. At the same time, South Korea (X%) displayed positive paces of growth. Japan and Taiwan (Chinese) experienced a relatively flat trend pattern. While the share of China (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Taiwan (Chinese) (X p.p.), South Korea (X p.p.) and Japan (X p.p.) displayed negative dynamics.

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

In terms of the main exporting countries, China, 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 Eastern Asia amounted to $X per ton, falling by X% against the previous year. In general, the export price recorded a deep slump. The growth pace was the most rapid in 2018 when the export price increased by X% against the previous year. The level of export peaked at $X per ton in 2013; however, 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 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 Taiwan (Chinese) (X%), while the other leaders experienced mixed trends in the export price figures.

Ball Bearing Imports

Imports in Eastern Asia

In 2022, the amount of ball bearings imported in Eastern Asia contracted to X tons, declining by X% compared with 2021. The total import volume increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 when imports increased by X%. As a result, imports attained the peak of X tons, and then declined in the following year.

In value terms, ball bearing imports shrank to $X in 2022. The total import value increased at an average annual rate of X% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 when imports increased by X%. As a result, imports reached the peak of $X, and then fell in the following year.

Imports by Country

China was the key importer of ball bearings in Eastern Asia, with the volume of imports reaching X tons, which was approx. X% of total imports in 2022. 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%).

From 2012 to 2022, average annual rates of growth with regard to ball bearing imports into China stood at X%. At the same time, Japan (X%) and South Korea (X%) displayed positive paces of growth. Moreover, Japan emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of X% from 2012-2022. By contrast, Taiwan (Chinese) (X%) and Hong Kong SAR (X%) illustrated a downward trend over the same period. While the share of China (X p.p.) and Japan (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Taiwan (Chinese) (X p.p.) and Hong Kong SAR (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

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

From 2012 to 2022, the average annual rate of growth in terms of value in China totaled X%. The remaining importing countries recorded the following average annual rates of imports growth: Japan (X% per year) and South Korea (X% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2022, almost unchanged from 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. The level of import peaked at $X per ton in 2021, and then contracted 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 China ($X per ton), while South Korea ($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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