Philippines: Market for Bearing Housings Incorporating Ball Or Roller Bearings 2024

Market Size for Bearing Housings Incorporating Ball Or Roller Bearings in the Philippines

In 2022, the Philippine market for bearing housings incorporating ball or roller bearings decreased by X% to $X, falling for the fourth consecutive year after four years of growth. Over the period under review, consumption, however, showed slight growth. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market remained at a lower figure.

Exports of Bearing Housings Incorporating Ball Or Roller Bearings

Exports from the Philippines

In 2022, the amount of bearing housings incorporating ball or roller bearings exported from the Philippines skyrocketed to X tons, rising by X% on the previous year's figure. Overall, exports continue to indicate a significant increase. The growth pace was the most rapid in 2013 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to see steady growth in the near future.

In value terms, bearing housing with ball bearing exports skyrocketed to $X in 2022. Over the period under review, exports showed a significant increase. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are likely to see steady growth in years to come.

Exports by Country

Denmark (X tons) was the main destination for bearing housing with ball bearing exports from the Philippines, accounting for a X% share of total exports. Moreover, bearing housing with ball bearing exports to Denmark exceeded the volume sent to the second major destination, China (X tons), twofold. Taiwan (Chinese) (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Denmark was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: China (X% per year) and Taiwan (Chinese) (X% per year).

In value terms, Denmark ($X) emerged as the key foreign market for bearing housings incorporating ball or roller bearings exports from the Philippines, comprising X% of total exports. The second position in the ranking was held by China ($X), with a X% share of total exports. It was followed by Taiwan (Chinese), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Denmark was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: China (X% per year) and Taiwan (Chinese) (X% per year).

Export Prices by Country

In 2022, the average export price for bearing housings incorporating ball or roller bearings amounted to $X per ton, falling by X% against the previous year. In general, the export price, however, recorded a buoyant increase. The most prominent rate of growth was recorded in 2014 an increase of X%. The export price peaked at $X per ton in 2015; however, from 2016 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the countries with the highest prices were Australia ($X per ton) and Japan ($X per ton), while the average price for exports to Singapore ($X per ton) and South Korea ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Singapore (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Bearing Housings Incorporating Ball Or Roller Bearings

Imports into the Philippines

In 2022, overseas purchases of bearing housings incorporating ball or roller bearings decreased by X% to X tons, falling for the fourth consecutive year after four years of growth. Over the period under review, imports recorded a pronounced curtailment. The pace of growth was the most pronounced in 2018 when imports increased by X% against the previous year. As a result, imports attained the peak of X tons. From 2019 to 2022, the growth of imports failed to regain momentum.

In value terms, bearing housing with ball bearing imports declined to $X in 2022. Overall, imports, however, showed a remarkable increase. The most prominent rate of growth was recorded in 2018 with an increase of X%. As a result, imports reached the peak of $X. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

Japan (X tons), China (X tons) and Indonesia (X tons) were the main suppliers of bearing housing with ball bearing imports to the Philippines, together comprising X% of total imports. The United States, Thailand, South Korea, Singapore, Vietnam and Taiwan (Chinese) lagged somewhat behind, together comprising a further X%.

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

In value terms, the largest bearing housing with ball bearing suppliers to the Philippines were Japan ($X), China ($X) and Indonesia ($X), together comprising X% of total imports. The United States, Thailand, South Korea, Singapore, Vietnam and Taiwan (Chinese) lagged somewhat behind, together comprising a further X%.

Among the main suppliers, South Korea, with a CAGR of X%, recorded the highest rates of growth with regard to 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 average import price for bearing housings incorporating ball or roller bearings stood at $X per ton in 2022, waning by X% against the previous year. Overall, the import price, however, enjoyed resilient growth. The most prominent rate of growth was recorded in 2019 when the average import price increased by X% against the previous year. The import price peaked at $X per ton in 2021, and then reduced in the following year.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Vietnam ($X per ton) and Indonesia ($X per ton), while the price for Singapore ($X per ton) and Thailand ($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 prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :