Thailand: Bearing Market 2024

Bearing Market Size in Thailand

The Thai bearing market declined notably to $X in 2022, falling by X% against the previous year. Overall, consumption showed a deep downturn. Bearing consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Bearing Production in Thailand

In value terms, bearing production fell sharply to $X in 2022 estimated in export price. In general, production recorded a pronounced contraction. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Bearing production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

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Bearing Exports

Exports from Thailand

In 2022, shipments abroad of ball or 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 continue to indicate a strong expansion. The pace of growth was the most pronounced in 2021 with an increase of X%. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in the immediate term.

In value terms, bearing exports stood at $X in 2022. In general, exports saw a prominent increase. The growth pace was the most rapid in 2021 when exports increased by X%. The exports peaked in 2022 and are likely to see gradual growth in the near future.

Exports by Country

Indonesia (X tons) was the main destination for bearing exports from Thailand, with a X% share of total exports. Moreover, bearing exports to Indonesia exceeded the volume sent to the second major destination, the United States (X tons), twofold. The third position in this ranking was taken by China (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Indonesia totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and China (X% per year).

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

Panama, with a CAGR of X%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average bearing export price stood at $X per ton in 2022, shrinking by X% against the previous year. Over the period under review, the export price showed a perceptible decrease. The pace of growth appeared the most rapid in 2019 when the average export price increased by X% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was India ($X per ton), while the average price for exports to Panama ($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 India (X%), while the prices for the other major destinations experienced more modest paces of growth.

Bearing Imports

Imports into Thailand

In 2022, purchases abroad of ball or roller bearings increased by X% to X tons, rising for the second consecutive year after three years of decline. Over the period under review, total imports indicated a prominent increase from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2020 indices. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. Imports peaked in 2022 and are expected to retain growth in the near future.

In value terms, bearing imports reduced to $X in 2022. In general, imports, however, continue to indicate a slight setback. The growth pace was the most rapid in 2021 with an increase of X%. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

Japan (X tons), China (X tons) and South Korea (X tons) were the main suppliers of bearing imports to Thailand, with a combined X% share of total imports.

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

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

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

Import Prices by Country

In 2022, the average bearing import price amounted to $X per ton, shrinking by X% against the previous year. In general, the import price recorded a abrupt descent. The growth pace was the most rapid 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 failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Indonesia ($X per ton), while the price for South Korea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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