Report Republic of Korea - Tapered Roller Bearings - Market Analysis, Forecast, Size, Trends and Insights for 499$
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Republic of Korea - Tapered Roller Bearings - Market Analysis, Forecast, Size, Trends and Insights
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Republic of Korea: Tapered Roller Bearing Market 2022

Tapered Roller Bearing Market Size in Republic of Korea

The South Korean tapered roller bearing market fell modestly to $X in 2021, waning by -X% against the previous year. In general, consumption showed a perceptible downturn. Over the period under review, the market reached the peak level at $X in 2017; however, from 2018 to 2021, consumption failed to regain momentum.

Tapered Roller Bearing Production in Republic of Korea

In value terms, tapered roller bearing production rose rapidly to $X in 2021 estimated in export price. In general, the total production indicated a moderate expansion from 2012 to 2021: its value increased at an average annual rate of +X% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -X% against 2017 indices. The most prominent rate of growth was recorded in 2014 when the production volume increased by X%. Tapered roller bearing production peaked at $X in 2017; however, from 2018 to 2021, production stood at a somewhat lower figure.

Tapered Roller Bearing Exports

Exports from Republic of Korea

In 2021, shipments abroad of tapered roller bearings was finally on the rise to reach X tons after two years of decline. Overall, exports enjoyed resilient growth. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, tapered roller bearing exports expanded significantly to $X in 2021. Over the period under review, exports continue to indicate a resilient increase. The growth pace was the most rapid in 2014 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

The United States (X tons) was the main destination for tapered roller bearing exports from South Korea, with a X% share of total exports. Moreover, tapered roller bearing exports to the United States exceeded the volume sent to the second major destination, China (X tons), threefold. Germany (X tons) ranked third in terms of total exports with an X% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States totaled +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+X% per year) and Germany (-X% per year).

In value terms, the United States ($X) remains the key foreign market for tapered roller bearing exports from South Korea, comprising X% of total exports. The second position in the ranking was held by China ($X), with a X% share of total exports. It was followed by Germany, with an X% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States amounted to +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+X% per year) and Germany (-X% per year).

Export Prices by Country

In 2021, the average tapered roller bearing export price amounted to $X per ton, declining by -X% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the average export price increased by X%. The export price peaked at $X per ton in 2019; however, from 2020 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was China ($X per ton), while the average price for exports to Turkey ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+X%), while the prices for the other major destinations experienced mixed trend patterns.

Tapered Roller Bearing Imports

Imports into Republic of Korea

In 2021, the amount of tapered roller bearings imported into South Korea totaled X tons, surging by X% against the previous year. In general, imports, however, showed a pronounced contraction. The pace of growth was the most pronounced in 2019 when imports increased by X% against the previous year. Over the period under review, imports attained the maximum at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, tapered roller bearing imports reached $X in 2021. Overall, imports, however, saw a noticeable descent. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Japan (X tons) constituted the largest supplier of tapered roller bearing to South Korea, accounting for a X% share of total imports. Moreover, tapered roller bearing imports from Japan exceeded the figures recorded by the second-largest supplier, China (X tons), threefold. The third position in this ranking was held by Germany (X tons), with a X% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Japan stood at -X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-X% per year) and Germany (-X% per year).

In value terms, Japan ($X) constituted the largest supplier of tapered roller bearing to South Korea, comprising X% of total imports. The second position in the ranking was taken by the United States ($X), with a X% share of total imports. It was followed by China, with an X% share.

From 2012 to 2021, the average annual growth rate of value from Japan amounted to -X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+X% per year) and China (-X% per year).

Import Prices by Country

The average tapered roller bearing import price stood at $X per ton in 2021, which is down by -X% against the previous year. Over the period under review, the import price recorded a mild setback. The pace of growth was the most pronounced in 2020 when the average import price increased by X%. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the United States ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Base Year Historical Period Forecast Period Units
2021 2007-2021 2022-2030 US$, Tons

Frequently Asked Questions (FAQ) :

What are the largest markets for tapered roller bearings in the world?
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The countries with the highest volumes of tapered roller bearing consumption in 2021 were China, the United States and India, together comprising 46% of global consumption.
What are the largest producers of tapered roller bearings in the world?
+
China remains the largest tapered roller bearing producing country worldwide, comprising approx. 32% of total volume. Moreover, tapered roller bearing production in China exceeded the figures recorded by the second-largest producer, Japan, threefold. The third position in this ranking was taken by India, with a 12% share.
What are the leading suppliers of tapered roller bearings to Republic of Korea?
+
In value terms, Japan constituted the largest supplier of tapered roller bearing to South Korea, comprising 46% of total imports. The second position in the ranking was taken by the United States, with a 16% share of total imports. It was followed by China, with an 8.6% share.
What are the leading importers of tapered roller bearings from Republic of Korea?
+
In value terms, the United States remains the key foreign market for tapered roller bearing exports from South Korea, comprising 40% of total exports. The second position in the ranking was taken by China, with a 16% share of total exports. It was followed by Germany, with an 8.2% share.
What is the average export price for tapered roller bearings in Republic of Korea?
+
In 2021, the average tapered roller bearing export price amounted to $9,379 per ton, declining by -3% against the previous year.
What is the average import price for tapered roller bearings in Republic of Korea?
+
The average tapered roller bearing import price stood at $12,987 per ton in 2021, declining by -6.9% against the previous year.

This report provides an in-depth analysis of the tapered roller bearing market in Republic of Korea. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.


Product coverage:
• Prodcom 28151053 - Tapered roller bearings (including cone and tapered roller assemblies)
Country coverage:
• South Korea

Data coverage:
• Market volume and value
• Per Capita consumption
• Forecast of the market dynamics in the medium term
• Trade (exports and imports) in Republic of Korea
• Export and import prices
• Market trends, drivers and restraints
• Key market players and their profiles

Reasons to buy this report:
• Take advantage of the latest data
• Find deeper insights into current market developments
• Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:
1. How to diversify your business and benefit from new market opportunities
2. How to load your idle production capacity
3. How to boost your sales on overseas markets
4. How to increase your profit margins
5. How to make your supply chain more sustainable
6. How to reduce your production and supply chain costs
7. How to outsource production to other countries
8. How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business

1.1
REPORT DESCRIPTION
1.2
RESEARCH METHODOLOGY AND AI PLATFORM
1.3
DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
1.4
GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance

3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects

3.1
MARKET SIZE
3.2
MARKET STRUCTURE
3.3
TRADE BALANCE
3.4
PER CAPITA CONSUMPTION
3.5
MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCTS

Finding New Products to Diversify Your Business

4.1
TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
4.2
BEST-SELLING PRODUCTS
4.3
MOST CONSUMED PRODUCT
4.4
MOST TRADED PRODUCT
4.5
MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain

5.1
TOP COUNTRIES TO SOURCE YOUR PRODUCT
5.2
TOP PRODUCING COUNTRIES
5.3
TOP EXPORTING COUNTRIES
5.4
LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports

6.1
TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
6.2
TOP CONSUMING MARKETS
6.3
UNSATURATED MARKETS
6.4
TOP IMPORTING MARKETS
6.5
MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry

7.1
PRODUCTION VOLUME AND VALUE
8. IMPORTS

The Largest Import Supplying Countries

8.1
IMPORTS FROM 2012–2021
8.2
IMPORTS BY COUNTRY
8.3
IMPORT PRICES BY COUNTRY
9. EXPORTS

The Largest Destinations for Exports

9.1
EXPORTS FROM 2012–2021
9.2
EXPORTS BY COUNTRY
9.3
EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles

LIST OF TABLES
Table 1:
Key Findings In 2021
Table 2:
Market Volume, In Physical Terms, 2012–2021
Table 3:
Market Value, 2012–2021
Table 4:
Per Capita Consumption In 2012–2021
Table 5:
Imports, In Physical Terms, By Country, 2012–2021
Table 6:
Imports, In Value Terms, By Country, 2012–2021
Table 7:
Import Prices, By Country Of Origin, 2012–2021
Table 8:
Exports, In Physical Terms, By Country, 2012–2021
Table 9:
Exports, In Value Terms, By Country, 2012–2021
Table 10:
Export Prices, By Country Of Destination, 2012–2021
LIST OF FIGURES
Figure 1:
Market Volume, In Physical Terms, 2012–2021
Figure 2:
Market Value, 2012–2021
Figure 3:
Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012–2021
Figure 4:
Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012–2021
Figure 5:
Trade Balance, In Physical Terms, 2012–2021
Figure 6:
Trade Balance, In Value Terms, 2012–2021
Figure 7:
Per Capita Consumption, 2012–2021
Figure 8:
Market Forecast To 2030
Figure 9:
Products: Market Size And Growth, By Type
Figure 10:
Products: Average Per Capita Consumption, By Type
Figure 11:
Products: Exports And Growth, By Type
Figure 12:
Products: Export Prices And Growth, By Type
Figure 13:
Production Volume And Growth
Figure 14:
Exports And Growth
Figure 15:
Export Prices And Growth
Figure 16:
Market Size And Growth
Figure 17:
Per Capita Consumption
Figure 18:
Imports And Growth
Figure 19:
Import Prices
Figure 20:
Production, In Physical Terms, 2012–2021
Figure 21:
Production, In Value Terms, 2012–2021
Figure 22:
Imports, In Physical Terms, 2012–2021
Figure 23:
Imports, In Value Terms, 2012–2021
Figure 24:
Imports, In Physical Terms, By Country, 2021
Figure 25:
Imports, In Physical Terms, By Country, 2012–2021
Figure 26:
Imports, In Value Terms, By Country, 2012–2021
Figure 27:
Import Prices, By Country Of Origin, 2012–2021
Figure 28:
Exports, In Physical Terms, 2012–2021
Figure 29:
Exports, In Value Terms, 2012–2021
Figure 30:
Exports, In Physical Terms, By Country, 2021
Figure 31:
Exports, In Physical Terms, By Country, 2012–2021
Figure 32:
Exports, In Value Terms, By Country, 2012–2021
Figure 33:
Export Prices, By Country Of Destination, 2012–2021
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