Singapore: Spherical Roller Bearing Market 2024

Spherical Roller Bearing Market Size in Singapore

For the seventh consecutive year, the Singaporean spherical roller bearing market recorded growth in sales value, which increased by X% to $X in 2022. Overall, consumption continues to indicate a strong expansion. Over the period under review, the market attained the peak level in 2022 and is likely to see steady growth in the immediate term.

Spherical Roller Bearing Production in Singapore

In value terms, spherical roller bearing production reduced to $X in 2022 estimated in export price. In general, production, however, enjoyed a strong expansion. The most prominent rate of growth was recorded in 2016 when the production volume increased by X%. Over the period under review, production hit record highs at $X in 2017; however, from 2018 to 2022, production failed to regain momentum.

Spherical Roller Bearing Exports

Exports from Singapore

In 2022, overseas shipments of spherical roller bearings decreased by X% to X tons, falling for the third year in a row after two years of growth. Overall, exports continue to indicate a abrupt decrease. The pace of growth was the most pronounced in 2019 when exports increased by X%. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, spherical roller bearing exports dropped significantly to $X in 2022. In general, exports saw a drastic downturn. The most prominent rate of growth was recorded in 2018 with an increase of X%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

China represented the key exporter of spherical roller bearings in the world, with the volume of exports resulting at X tons, which was approx. X% of total exports in 2022. It was distantly followed by Germany (X tons), Sweden (X tons), Japan (X tons), Romania (X tons) and Belgium (X tons), together creating a X% share of total exports. Malaysia (X tons), France (X tons), the UK (X tons), Italy (X tons), the United States (X tons) and Belarus (X tons) took a little share of total exports.

China was also the fastest-growing in terms of the spherical roller bearings exports, with a CAGR of X% from 2012 to 2022. At the same time, Malaysia (X%), Romania (X%) and France (X%) displayed positive paces of growth. Italy, Japan and Germany experienced a relatively flat trend pattern. By contrast, Sweden (X%), Belgium (X%), the UK (X%), Belarus (X%) and the United States (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China, Romania and Malaysia increased by X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest spherical roller bearing supplying countries from Singapore were Sweden ($X), Germany ($X) and China ($X), together accounting for X% of total exports. Japan, Belgium, the United States, Romania, Malaysia, the UK, France, Italy and Belarus lagged somewhat behind, together comprising a further X%.

Malaysia, with a CAGR of X%, saw the highest growth rate of the value of exports, among 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

In 2022, the export price in Singapore amounted to $X per ton, picking up by X% against the previous year. Over the period under review, the export price saw a slight increase. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

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 ($X per ton), while China ($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.

Spherical Roller Bearing Imports

Imports into Singapore

In 2022, supplies from abroad of spherical roller bearings decreased by X% to X tons, falling for the third consecutive year after two years of growth. Over the period under review, imports saw a drastic downturn. The most prominent rate of growth was recorded in 2019 with an increase of X%. Singapore imports peaked at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, spherical roller bearing imports contracted significantly to $X in 2022. In general, imports showed a abrupt setback. The pace of growth was the most pronounced in 2019 when imports increased by X%. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Belgium (X tons), China (X tons), the United States (X tons), Germany (X tons), India (X tons), Russia (X tons), France (X tons), Brazil (X tons), Denmark (X tons), South Korea (X tons), Thailand (X tons) and Turkey (X tons) represented roughly X% of total imports in 2022. Italy (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 leading 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, China ($X), the United States ($X) and Belgium ($X) were the countries with the highest levels of imports in 2022, together comprising X% of total imports. India, Germany, France, Brazil, Italy, South Korea, Russia, Turkey, Denmark and Thailand lagged somewhat behind, together accounting for a further X%.

India, with a CAGR of X%, recorded the highest growth rate of 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

The import price in Singapore stood at $X per ton in 2022, growing by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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 the United States ($X per ton), while Thailand ($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 a decline in the import price figures.

Source: IndexBox Platform

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