Vietnam: Ball Bearing Market 2024

Ball Bearing Market Size in Vietnam

The Vietnamese ball bearing market expanded rapidly to $X in 2022, rising by X% against the previous year. In general, consumption, however, saw a slight descent. Vietnam consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Ball Bearing Production in Vietnam

In value terms, ball bearing production dropped slightly to $X in 2022 estimated in export price. In general, production, however, saw a perceptible reduction. The most prominent rate of growth was recorded in 2017 with an increase of X%. Vietnam production peaked at $X in 2013; however, from 2014 to 2022, production remained at a lower figure.

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Ball Bearing Exports

Exports from Vietnam

In 2022, shipments abroad of ball bearings decreased by X% to X tons for the first time since 2019, thus ending a two-year rising trend. Overall, exports, however, saw significant growth. The pace of growth was the most pronounced in 2016 when exports increased by X% against the previous year. The Vietnam exports peaked at X tons in 2021, and then reduced in the following year.

In value terms, ball bearing exports contracted to $X in 2022. Over the period under review, exports, however, saw a significant increase. The growth pace was the most rapid in 2016 when exports increased by X%. Over the period under review, the exports hit record highs at $X in 2021, and then fell in the following year.

Exports by Country

In 2022, China (X tons) was the key exporter of ball bearings, generating X% of total exports. Japan (X tons) held a X% share (based on physical terms) of total exports, which put it in second place, followed by Germany (X%) and Italy (X%). The following exporters - South Korea (X tons), France (X tons), the Netherlands (X tons), Poland (X tons), Thailand (X tons), Singapore (X tons), the United States (X tons) and Slovakia (X tons) - together made up X% of total exports.

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%), Singapore (X%) and the United States (X%) illustrated a downward trend over the same period. China (X p.p.) significantly strengthened its position in terms of the global exports, while Slovakia, Italy, France, Germany, Singapore, the United States and Japan saw its share reduced by X%, X%, X%, X%, X%, X% and X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest ball bearing supplying countries from Vietnam were China ($X), Germany ($X) and Japan ($X), together accounting for X% of total exports. Italy, the United States, France, the Netherlands, Thailand, South Korea, Singapore, Poland and Slovakia lagged somewhat behind, together comprising a further X%.

Thailand, with a CAGR of X%, saw 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 Vietnam stood at $X per ton in 2022, growing by X% against the previous year. In general, the export price, however, recorded a slight decline. The pace of growth appeared the most rapid in 2018 when the export price increased by X% against the previous year. 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.

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.

Ball Bearing Imports

Imports into Vietnam

In 2022, approx. X tons of ball bearings were imported into Vietnam; which is down by X% against the previous year's figure. 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 most prominent rate of growth was recorded in 2016 with an increase of X%. Over the period under review, imports attained the maximum at X tons in 2021, and then reduced in the following year.

In value terms, ball bearing imports amounted to $X in 2022. In general, total imports indicated a prominent expansion from 2012 to 2022: its value 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 2013 indices. The growth pace was the most rapid in 2016 when imports increased by X% against the previous year. Over the period under review, imports attained the maximum in 2022 and are likely to see steady growth in the immediate term.

Imports by Country

In 2022, Germany (X tons), the United States (X tons) and China (X tons) was the largest importer of ball bearings in the world, achieving 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) held a little share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Russia (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest ball bearing importing markets into Vietnam were Germany ($X), China ($X) and the United States ($X), with a combined X% share of total imports. Italy, Mexico, the Netherlands, India, France, South Korea, Brazil, Russia, Belgium and Indonesia lagged somewhat behind, together accounting for a further X%.

Among the main importing countries, Russia, with a CAGR of X%, recorded 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

In 2022, the import price in Vietnam amounted to $X per ton, growing by X% against the previous year. Overall, the import price saw a relatively flat trend pattern. The growth pace was the most rapid in 2020 an increase of X%. Vietnam import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

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 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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