Hong Kong SAR, China: Roller Bearing Market 2024

Roller Bearing Market Size in Hong Kong SAR, China

In 2022, the Hong Kong roller bearing market decreased by X% to $X, falling for the second consecutive year after three years of growth. Over the period under review, consumption showed a precipitous decline. As a result, consumption attained the peak level of $X. From 2016 to 2022, the growth of the market failed to regain momentum.

Roller Bearing Production in Hong Kong SAR, China

In value terms, roller bearing production dropped dramatically to $X in 2022 estimated in export price. In general, production showed a sharp decline. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, production reached the peak level at $X in 2017; however, from 2018 to 2022, production remained at a lower figure.

Roller Bearing Exports

Exports from Hong Kong SAR, China

In 2022, the amount of roller bearings exported from Hong Kong SAR rose notably to X tons, with an increase of X% compared with the previous year's figure. In general, exports, however, saw a deep slump. The pace of growth appeared the most rapid in 2014 when exports increased by X%. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, roller bearing exports contracted modestly to $X in 2022. Over the period under review, exports, however, showed a abrupt decrease. The most prominent rate of growth was recorded in 2014 with an increase of X%. The Hong Kong SAR exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

China was the major exporter of roller bearings in the world, with the volume of exports reaching X tons, which was near X% of total exports in 2022. Singapore (X tons) ranks second in terms of the total exports with a X% share, followed by Germany (X%), France (X%), Slovakia (X%) and the United States (X%). Italy (X tons), Vietnam (X tons), South Korea (X tons), the United Arab Emirates (X tons), Indonesia (X tons), Turkey (X tons) and Austria (X tons) held a little share of total exports.

From 2012 to 2022, average annual rates of growth with regard to roller bearing exports from China stood at X%. At the same time, Indonesia (X%), Vietnam (X%), Turkey (X%), the United Arab Emirates (X%) and Slovakia (X%) displayed positive paces of growth. Moreover, Indonesia emerged as the fastest-growing exporter exported in the world, with a CAGR of X% from 2012-2022. Singapore experienced a relatively flat trend pattern. By contrast, Italy (X%), France (X%), Germany (X%), South Korea (X%), the United States (X%) and Austria (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China and Vietnam increased by X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest roller bearing supplying countries from Hong Kong SAR were China ($X), Germany ($X) and Singapore ($X), with a combined X% share of total exports. Italy, the United States, Vietnam, France, Slovakia, South Korea, Austria, Turkey, the United Arab Emirates and Indonesia lagged somewhat behind, together accounting for a further X%.

Vietnam, with a CAGR of X%, recorded the highest rates of growth with regard to 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

The export price in Hong Kong SAR stood at $X per ton in 2022, waning by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2020 an increase of X% against the previous year. The Hong Kong SAR export price peaked at $X per ton in 2021, and then declined in the following year.

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 the United States ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (X%), while the other leaders experienced more modest paces of growth.

Roller Bearing Imports

Imports into Hong Kong SAR, China

In 2022, the amount of roller bearings imported into Hong Kong SAR shrank slightly to X tons, declining by X% against the previous year's figure. In general, imports showed a deep downturn. The most prominent rate of growth was recorded in 2015 with an increase of X%. Over the period under review, imports attained the peak figure at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, roller bearing imports reduced slightly to $X in 2022. Over the period under review, imports continue to indicate a abrupt shrinkage. The pace of growth was the most pronounced in 2015 with an increase of X%. Hong Kong SAR imports peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Indonesia (X tons), followed by Germany (X tons) and Thailand (X tons) represented the key importers of roller bearings, together making up X% of total imports. India (X tons), Italy (X tons), Nigeria (X tons), Canada (X tons), South Korea (X tons), Spain (X tons), France (X tons), Poland (X tons), Singapore (X tons) and Austria (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Thailand (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), India ($X) and Indonesia ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined X% share of total imports. Canada, Thailand, South Korea, Italy, France, Poland, Singapore, Austria, Spain and Nigeria lagged somewhat behind, together accounting for a further X%.

Among the main importing countries, Austria, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Hong Kong SAR stood at $X per ton in 2022, picking up by X% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the import price increased by X%. Hong Kong SAR import price peaked in 2022 and is expected to retain growth in years to come.

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 Canada ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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