Singapore: Ball Bearing Market 2024

Ball Bearing Market Size in Singapore

In 2022, the Singaporean ball bearing market increased by X% to $X, rising for the second year in a row after two years of decline. Overall, consumption continues to indicate a slight slump. Singapore consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Ball Bearing Production in Singapore

In value terms, ball bearing production skyrocketed to $X in 2022 estimated in export price. In general, production faced a abrupt decline. Over the period under review, production attained the maximum level at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

Ball Bearing Exports

Exports from Singapore

Ball bearing exports from Singapore fell sharply to X tons in 2022, which is down by X% on 2021. In general, exports continue to indicate a abrupt downturn. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. The Singapore exports peaked at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, ball bearing exports shrank significantly to $X in 2022. Over the period under review, exports saw a abrupt slump. The most prominent rate of growth was recorded in 2021 when exports increased by X%. The Singapore exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

In 2022, China (X tons) represented the key exporter of ball bearings, achieving X% of total exports. It was distantly followed by Japan (X tons), Germany (X tons) and Italy (X tons), together mixing up a X% share of total exports. South Korea (X tons), France (X tons), the Netherlands (X tons), Poland (X tons), Thailand (X tons), the United States (X tons) and Slovakia (X tons) followed a long way behind the leaders.

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%) and the United States (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China increased by X percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest ball bearing supplying countries from Singapore 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, Poland and Slovakia lagged somewhat behind, together accounting for a further X%.

Thailand, 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 Singapore stood at $X per ton in 2022, with an increase of X% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 an increase of X%. As a result, the export price attained the peak level of $X per ton. From 2019 to 2022, the export prices failed to regain momentum.

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 Singapore

Ball bearing imports into Singapore declined notably to X tons in 2022, shrinking by X% against the year before. Over the period under review, imports recorded a deep contraction. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, ball bearing imports fell to $X in 2022. Overall, imports recorded a deep slump. The most prominent rate of growth was recorded in 2021 when imports increased by X%. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Germany (X tons), the United States (X tons) and China (X tons) was the major importer of ball bearings in the world, comprising X% of total import. 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) followed a long way behind the leaders.

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, Germany ($X), China ($X) and the United States ($X) were the countries with the highest levels of imports in 2022, together comprising X% of total imports. Italy, Mexico, the Netherlands, India, France, South Korea, Brazil, Russia, Belgium and Indonesia lagged somewhat behind, together comprising a further X%.

In terms of the main importing countries, Russia, with a CAGR of X%, saw 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 import price in Singapore stood at $X per ton in 2022, surging by X% against the previous year. Overall, the import price recorded a relatively flat trend pattern. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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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