Myanmar: Ball Bearing Market 2024

Ball Bearing Market Size in Myanmar

After two years of decline, the Myanmar's ball bearing market increased by X% to $X in 2022. In general, consumption saw a abrupt contraction. Myanmar consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Ball Bearing Production in Myanmar

In value terms, ball bearing production expanded remarkably to $X in 2022 estimated in export price. Overall, production recorded a perceptible shrinkage. The most prominent rate of growth was recorded in 2016 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Ball Bearing Exports

Exports from Myanmar

In 2022, approx. X kg of ball bearings were exported from Myanmar; dropping by X% on the year before. Over the period under review, exports recorded a dramatic setback. The pace of growth appeared the most rapid in 2020 with an increase of X%. As a result, the exports reached the peak of X tons. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, ball bearing exports declined markedly to $X in 2022. In general, exports faced a dramatic shrinkage. The pace of growth appeared the most rapid in 2020 with an increase of X% against the previous year. As a result, the exports reached the peak of $X. From 2021 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

China represented the key exporting country with an export of around X tons, which amounted to X% of total exports. Japan (X tons) took the second position in the ranking, followed by Germany (X tons) and Italy (X tons). All these countries together held near X% share of total exports. The following exporters - South Korea (X tons), France (X tons), the Netherlands (X tons), Poland (X tons), Thailand (X tons), Singapore (X tons), the United States (X tons) and Slovakia (X tons) - together made up X% of total exports.

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, Thailand (X%), the Netherlands (X%), Poland (X%), South Korea (X%) and Italy (X%) displayed positive paces of growth. Japan and Germany experienced a relatively flat trend pattern. By contrast, France (X%), Slovakia (X%), Singapore (X%) and the United States (X%) illustrated a downward trend over the same period. While the share of China (X p.p.) increased significantly in terms of the global exports from 2012-2022, the share of Slovakia (X p.p.), Italy (X p.p.), France (X p.p.), Germany (X p.p.), Singapore (X p.p.), the United States (X p.p.) and 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 ball bearing supplying countries from Myanmar were China ($X), Germany ($X) and Japan ($X), with a combined X% share of total exports. Italy, the United States, France, the Netherlands, Thailand, South Korea, Singapore, Poland and Slovakia lagged somewhat behind, together accounting for a further X%.

Among the main exporting countries, Thailand, with a CAGR of X%, saw 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 Myanmar amounted to $X per ton, jumping by X% against the previous year. Over the period under review, the export price posted a modest expansion. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the United States ($X per ton), while China ($X per ton) was amongst the lowest.

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

Ball Bearing Imports

Imports into Myanmar

In 2022, after three years of decline, there was significant growth in overseas purchases of ball bearings, when their volume increased by X% to X tons. Over the period under review, imports posted a strong increase. The pace of growth appeared the most rapid in 2017 with an increase of X%. Myanmar imports peaked at X tons in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, ball bearing imports soared to $X in 2022. In general, imports continue to indicate strong growth. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Myanmar imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, Germany (X tons), the United States (X tons) and China (X tons) represented the major importer of ball bearings in the world, achieving X% of total import. The following importers - Italy (X tons), Mexico (X tons), the Netherlands (X tons), Brazil (X tons), France (X tons), Indonesia (X tons), Russia (X tons), Belgium (X tons), South Korea (X tons) and India (X tons) - together made up X% of total imports.

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

In value terms, the largest ball bearing importing markets into Myanmar were Germany ($X), China ($X) and the United States ($X), with a combined X% share of total imports. Italy, Mexico, the Netherlands, India, France, South Korea, Brazil, Russia, Belgium and Indonesia lagged somewhat behind, together accounting for a further X%.

Russia, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Myanmar amounted to $X per ton, surging by X% against the previous year. Over the period under review, the import price saw moderate growth. The growth pace was the most rapid in 2019 an increase of X% against the previous year. Myanmar import price peaked in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was China ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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