Eastern Asia: Needle Roller Bearing Market 2024

Needle Roller Bearing Market Size in Eastern Asia

In 2022, the East Asian needle roller bearing market decreased by X% to $X, falling for the fourth consecutive year after two years of growth. In general, consumption saw a noticeable reduction. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market remained at a somewhat lower figure.

Needle Roller Bearing Production in Eastern Asia

In value terms, needle roller bearing production shrank slightly to $X in 2022 estimated in export price. Over the period under review, production recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2022, production growth remained at a lower figure.

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Needle Roller Bearing Exports

Exports in Eastern Asia

In 2022, approx. X tons of needle roller bearings were exported in Eastern Asia; declining by X% on 2021 figures. Total exports indicated buoyant 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 most prominent rate of growth was recorded in 2021 when exports increased by X%. As a result, the exports attained the peak of X tons, and then shrank in the following year.

In value terms, needle roller bearing exports reduced to $X in 2022. Over the period under review, exports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. As a result, the exports attained the peak of $X, and then shrank in the following year.

Exports by Country

In 2022, China (X tons) represented the major exporter of needle roller bearings, generating X% of total exports. Japan (X tons) held a X% share (based on physical terms) of total exports, which put it in second place, followed by South Korea (X%). The following exporters - Taiwan (Chinese) (X tons) and Hong Kong SAR (X tons) - each finished at a X% share of total exports.

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

In value terms, Japan ($X), China ($X) and South Korea ($X) appeared to be the countries with the highest levels of exports in 2022, with a combined X% share of total exports.

South Korea, with a CAGR of X%, saw the highest growth rate of the value of exports, in terms of 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

In 2022, the export price in Eastern Asia amounted to $X per ton, shrinking by X% against the previous year. Over the period under review, the export price showed a deep reduction. The most prominent rate of growth was recorded in 2018 when the export price increased by X%. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 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 Taiwan (Chinese) ($X per ton), while China ($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 a decline in the export price figures.

Needle Roller Bearing Imports

Imports in Eastern Asia

In 2022, the amount of needle roller bearings imported in Eastern Asia shrank to X tons, dropping by X% compared with 2021 figures. Over the period under review, imports saw a slight downturn. The growth pace was the most rapid in 2021 when imports increased by X%. The volume of import peaked at X tons in 2015; however, from 2016 to 2022, imports remained at a lower figure.

In value terms, needle roller bearing imports shrank to $X in 2022. Overall, imports continue to indicate a slight downturn. The pace of growth was the most pronounced in 2021 with an increase of X%. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The purchases of the three major importers of needle roller bearings, namely China, South Korea and Japan, represented more than two-thirds of total import. It was distantly followed by Hong Kong SAR (X tons) and Taiwan (Chinese) (X tons), together constituting a X% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Japan (with a CAGR of X%), while purchases for the other leaders experienced mixed trends in the imports figures.

In value terms, the largest needle roller bearing importing markets in Eastern Asia were China ($X), South Korea ($X) and Japan ($X), with a combined X% share of total imports. Hong Kong SAR and Taiwan (Chinese) lagged somewhat behind, together comprising a further X%.

Taiwan (Chinese), with a CAGR of X%, saw the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2022, approximately equating the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 an increase of X%. Over the period under review, import prices attained the peak figure at $X per ton in 2021, and then contracted slightly 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 ($X per ton), while Taiwan (Chinese) ($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 a decline in the import price figures.

Source: IndexBox Platform

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