Eastern Asia: Tapered Roller Bearing Market 2024

Tapered Roller Bearing Market Size in Eastern Asia

In 2022, the East Asian tapered roller bearing market decreased by X% to $X, falling for the fourth year in a row after three years of growth. Overall, consumption continues to indicate a pronounced descent. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Tapered Roller Bearing Production in Eastern Asia

In value terms, tapered roller bearing production dropped slightly to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of X%. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

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Tapered Roller Bearing Exports

Exports in Eastern Asia

Tapered roller bearing exports stood at X tons in 2022, with an increase of X% on the year before. In general, exports saw prominent growth. The growth pace was the most rapid 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 immediate term.

In value terms, tapered roller bearing exports amounted to $X in 2022. Over the period under review, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X%. The level of export peaked in 2022 and is expected to retain growth in years to come.

Exports by Country

China represented the largest exporting country with an export of around X tons, which amounted to X% of total exports. It was distantly followed by Japan (X tons) and South Korea (X tons), together comprising a X% share of total exports.

China was also the fastest-growing in terms of the tapered 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. While the share of China (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Japan (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest tapered roller 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, South Korea, 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 mixed trends in the exports figures.

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per ton, reducing by X% against the previous year. Overall, the export price showed a deep reduction. The growth pace was the most rapid in 2018 an increase of 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 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 South Korea (X%), while the other leaders experienced a decline in the export price figures.

Tapered Roller Bearing Imports

Imports in Eastern Asia

In 2022, after two years of growth, there was significant decline in supplies from abroad of tapered roller bearings, when their volume decreased by X% to X tons. Total imports indicated a noticeable expansion 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. The most prominent rate of growth was recorded in 2020 with an increase of X%. Over the period under review, imports attained the maximum at X tons in 2021, and then declined significantly in the following year.

In value terms, tapered roller bearing imports reduced notably to $X in 2022. In general, imports, however, continue to indicate a noticeable expansion. The most prominent rate of growth was recorded in 2020 with an increase of X%. The level of import peaked at $X in 2021, and then dropped significantly in the following year.

Imports by Country

China represented the key importer of tapered roller bearings in Eastern Asia, with the volume of imports resulting at X tons, which was near X% of total imports in 2022. South Korea (X tons) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Japan (X%) and Hong Kong SAR (X%). Taiwan (Chinese) (X tons) held a minor share of total imports.

China was also the fastest-growing in terms of the tapered roller bearings imports, with a CAGR of X% from 2012 to 2022. At the same time, Hong Kong SAR (X%) and Japan (X%) displayed positive paces of growth. By contrast, Taiwan (Chinese) (X%) and South Korea (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) and South Korea 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 ($X) constitutes the largest market for imported tapered roller bearings in Eastern Asia, comprising X% of total imports. The second position in the ranking was held by South Korea ($X), with a X% share of total imports. It was followed by Japan, with a X% share.

From 2012 to 2022, the average annual growth rate 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, shrinking by X% against the previous year. Overall, the import price recorded a slight curtailment. The most prominent rate of growth was recorded in 2019 when the import price increased by X% against the previous year. The level of import peaked at $X per ton in 2021, and then reduced 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 Taiwan (Chinese) ($X per ton), while Japan ($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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