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 five years of growth. Over the period under review, consumption recorded a mild curtailment. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market remained at a somewhat lower figure.

Bearing Production in Eastern Asia

In value terms, bearing production dropped modestly to $X in 2022 estimated in export price. The total output 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 was the most pronounced in 2019 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2020 to 2022, production growth remained at a somewhat lower figure.

Bearing Exports

Exports in Eastern Asia

For the sixth year in a row, Eastern Asia recorded growth in overseas shipments of ball or roller bearings, which increased by X% to X tons in 2022. In general, exports recorded a prominent expansion. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. The volume of export peaked in 2022 and is expected to retain growth in the immediate term.

In value terms, bearing exports dropped to $X in 2022. The total export value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of X%. As a result, the exports reached the peak of $X, leveling off in the following year.

Exports by Country

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

China was also the fastest-growing in terms of the ball or 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.

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

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per ton, dropping by X% against the previous year. In general, the export price recorded a abrupt contraction. The most prominent rate of growth was recorded in 2018 when the export price increased by X%. 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 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, supplies from abroad of ball or roller bearings decreased by X% to X tons for the first time since 2019, thus ending a two-year rising trend. 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 somewhat noticeable fluctuations throughout the analyzed period. The pace of growth appeared the most rapid in 2014 with an increase of X%. Over the period under review, imports hit record highs at X tons in 2021, and then contracted in the following year.

In value terms, bearing imports dropped to $X in 2022. Overall, imports, however, showed a mild increase. The growth pace was the most rapid in 2021 with an increase of X%. As a result, imports reached the peak of $X, and then declined in the following year.

Imports by Country

In 2022, China (X tons) was the main importer of ball or roller bearings, mixing up X% of total imports. It was distantly followed by South Korea (X tons), Japan (X tons), Hong Kong SAR (X tons) and Taiwan (Chinese) (X tons), together committing a X% share of total imports.

Imports into China increased at an average annual rate of X% from 2012 to 2022. At the same time, Japan (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. 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. 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, China ($X) constitutes the largest market for imported ball or roller bearings in Eastern Asia, comprising X% of total imports. The second position in the ranking was taken by South Korea ($X), with a X% share of total imports. It was followed by Japan, with an X% share.

In China, bearing imports increased at an average annual rate of X% over the period from 2012-2022. 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, approximately mirroring the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in China ($X per ton) and Hong Kong SAR ($X per ton), while South Korea ($X per ton) and Taiwan (Chinese) ($X per ton) were 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 a decline in the import price figures.

Source: IndexBox Platform

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