Thailand: Bearing Market 2024

Bearing Market Size in Thailand

The Thai bearing market contracted to $X in 2022, dropping by X% against the previous year. Over the period under review, consumption showed a mild decline. Over the period under review, the market attained the maximum level at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Bearing Production in Thailand

In value terms, bearing production shrank slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2019 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2020 to 2022, production growth remained at a somewhat lower figure.

Bearing Exports

Exports from Thailand

In 2022, shipments abroad of ball and roller bearings increased by X% to X tons, rising for the second consecutive year after two years of decline. Over the period under review, exports showed a buoyant expansion. The most prominent rate of growth was recorded in 2014 when exports increased by X% against the previous year. The exports peaked at X tons in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, bearing exports expanded remarkably to $X in 2022. In general, exports recorded buoyant growth. The most prominent rate of growth was recorded in 2021 when exports increased by X%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.

Exports by Country

Indonesia (X tons), China (X tons) and Hong Kong SAR (X tons) were the main destinations of bearing exports from Thailand, with a combined X% share of total exports. Japan, the United States, Germany, Mexico, Panama, the United Arab Emirates, the Philippines, South Africa, Vietnam and Singapore lagged somewhat behind, together comprising a further X%.

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

In value terms, China ($X), Hong Kong SAR ($X) and Indonesia ($X) were the largest markets for bearing exported from Thailand worldwide, together comprising X% of total exports. Japan, Germany, the United States, the Philippines, Vietnam, Singapore, Mexico, South Africa, Panama and the United Arab Emirates lagged somewhat behind, together accounting for a further X%.

In terms of the main countries of destination, Panama, with a CAGR of X%, recorded the highest rates of growth with regard to 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 average bearing export price amounted to $X per ton, almost unchanged from the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2019 when the average export price increased by X% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2012; afterwards, it flattened through to 2022.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while the average price for exports to the United Arab Emirates ($X per ton) was amongst the lowest.

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

Bearing Imports

Imports into Thailand

In 2022, supplies from abroad of ball and roller bearings increased by X% to X tons, rising for the second consecutive year after two years of decline. Over the period under review, imports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2015 with an increase of X%. Imports peaked at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, bearing imports rose slightly to $X in 2022. In general, imports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Japan (X tons) constituted the largest bearing supplier to Thailand, with a X% share of total imports. Moreover, bearing imports from Japan exceeded the figures recorded by the second-largest supplier, South Korea (X tons), fourfold. Germany (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from Japan was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (X% per year) and Germany (X% per year).

In value terms, the largest bearing suppliers to Thailand were Japan ($X), China ($X) and Germany ($X), with a combined X% share of total imports. South Korea, India, the United States, Taiwan (Chinese) and Malaysia lagged somewhat behind, together comprising a further X%.

India, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average bearing import price stood at $X per ton in 2022, approximately equating the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 an increase of X% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was China ($X per ton), while the price for South Korea ($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 prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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