Cylindrical Roller Bearing Market

The global cylindrical roller bearings market is projected to show an upward consumption trend over the next eight years, with a forecasted CAGR of +0.6% in volume and +2.1% in value by 2030. Consumption decreased in 2022 after five years of growth, with notable fluctuations recorded. Key consuming countries include China, the United States, and Thailand, with different rates of growth. The market value is expected to reach $10.5B by 2030. Production and exports also saw fluctuations, with Germany and China as leading exporters. Import prices varied by country, with France having the highest export price.

Market Forecast

Driven by increasing demand for cylindrical roller bearings worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +0.6% for the period from 2022 to 2030, which is projected to bring the market volume to 322K tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +2.1% for the period from 2022 to 2030, which is projected to bring the market value to $10.5B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Cylindrical Roller Bearings

In 2022, consumption of cylindrical roller bearings decreased by -3.9% to 307K tons for the first time since 2016, thus ending a five-year rising trend. Overall, the total consumption indicated a perceptible expansion from 2012 to 2022: its volume increased at an average annual rate of +3.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +66.0% against 2013 indices. As a result, consumption attained the peak volume of 319K tons, and then reduced slightly in the following year.

The global cylindrical roller bearing market value shrank slightly to $8.9B in 2022, waning by -3.3% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, the total consumption indicated tangible growth from 2012 to 2022: its value increased at an average annual rate of +4.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +70.2% against 2016 indices. As a result, consumption reached the peak level of $9.2B, and then dropped in the following year.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were China (47K tons), the United States (37K tons) and Thailand (33K tons), together comprising 38% of global consumption.

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the main consuming countries, was attained by Thailand (with a CAGR of +47.0%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($2.5B) led the market, alone. The second position in the ranking was taken by China ($1.2B). It was followed by Brazil.

In the United States, the cylindrical roller bearing market expanded at an average annual rate of +7.3% over the period from 2012-2022. The remaining consuming countries recorded the following average annual rates of market growth: China (-0.1% per year) and Brazil (+10.3% per year).

In 2022, the highest levels of cylindrical roller bearing per capita consumption was registered in Thailand (466 kg per 1000 persons), followed by Germany (222 kg per 1000 persons), Canada (162 kg per 1000 persons) and Saudi Arabia (147 kg per 1000 persons), while the world average per capita consumption of cylindrical roller bearing was estimated at 39 kg per 1000 persons.

In Thailand, cylindrical roller bearing per capita consumption expanded at an average annual rate of +46.8% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Germany (+4.6% per year) and Canada (+6.5% per year).

Production

World Production of Cylindrical Roller Bearings

In 2022, after four years of growth, there was significant decline in production of cylindrical roller bearings, when its volume decreased by -7.2% to 242K tons. In general, the total production indicated a tangible increase from 2012 to 2022: its volume increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +59.0% against 2017 indices. The most prominent rate of growth was recorded in 2019 when the production volume increased by 31% against the previous year. Over the period under review, global production hit record highs at 261K tons in 2021, and then fell in the following year.

In value terms, cylindrical roller bearing production dropped to $7.7B in 2022 estimated in export price. Over the period under review, production, however, enjoyed a measured expansion. The pace of growth was the most pronounced in 2021 with an increase of 23%. As a result, production attained the peak level of $8.4B, and then shrank in the following year.

Production By Country

The countries with the highest volumes of production in 2022 were China (44K tons), the United States (28K tons) and Germany (27K tons), together comprising 41% of global production. Japan, India, Romania, Slovakia, Brazil, Canada, Mexico, Saudi Arabia, Poland and Turkey lagged somewhat behind, together comprising a further 43%.

From 2012 to 2022, the biggest increases were recorded for Mexico (with a CAGR of +29.9%), while production for the other global leaders experienced more modest paces of growth.

Imports

World Imports of Cylindrical Roller Bearings

In 2022, purchases abroad of cylindrical roller bearings increased by 4.2% to 208K tons, rising for the eighth consecutive year after two years of decline. The total import volume increased at an average annual rate of +3.0% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2017 with an increase of 14% against the previous year. Global imports peaked in 2022 and are likely to continue growth in the near future.

In value terms, cylindrical roller bearing imports totaled $3.7B in 2022. The total import value increased at an average annual rate of +1.8% from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by 12%. Over the period under review, global imports attained the peak figure in 2022 and are likely to see gradual growth in years to come.

Imports By Country

The countries with the highest levels of cylindrical roller bearing imports in 2022 were Thailand (33K tons), China (30K tons), Germany (22K tons) and Russia (22K tons), together finishing at 51% of total import. It was distantly followed by the United States (10K tons), creating a 5% share of total imports. Spain (6.1K tons), Mexico (5.6K tons), Italy (5.2K tons), Brazil (4.7K tons), South Korea (4.6K tons), Belgium (4.3K tons), Turkey (3.4K tons) and the Czech Republic (3.3K tons) held a little share of total imports.

From 2012 to 2022, the biggest increases were recorded for Thailand (with a CAGR of +46.0%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the largest cylindrical roller bearing importing markets worldwide were China ($732M), Germany ($440M) and the United States ($391M), together accounting for 43% of global imports. Mexico, Italy, Russia, Brazil, South Korea, Spain, Belgium, Turkey, the Czech Republic and Thailand lagged somewhat behind, together comprising a further 24%.

Spain, with a CAGR of +13.7%, saw the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

The average cylindrical roller bearing import price stood at $17,672 per ton in 2022, which is down by -3.2% against the previous year. In general, the import price showed a mild decline. The pace of growth appeared the most rapid in 2014 an increase of 9.3% against the previous year. As a result, import price attained the peak level of $23,813 per ton. From 2015 to 2022, the average import prices remained at a lower figure.

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 ($37,593 per ton), while Thailand ($1,094 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+3.6%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Cylindrical Roller Bearings

In 2022, global cylindrical roller bearing exports reached 143K tons, rising by 1.6% on 2021. The total export volume increased at an average annual rate of +2.4% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2019 with an increase of 28% against the previous year. As a result, the exports reached the peak of 154K tons. From 2020 to 2022, the growth of the global exports failed to regain momentum.

In value terms, cylindrical roller bearing exports reached $3.4B in 2022. The total export value increased at an average annual rate of +1.6% from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 13% against the previous year. The global exports peaked in 2022 and are likely to see gradual growth in the near future.

Exports By Country

In 2022, Germany (31K tons) and China (27K tons) represented the largest exporters of cylindrical roller bearingsaround the world, together resulting at near 41% of total exports. Japan (18K tons) held a 13% share (based on physical terms) of total exports, which put it in second place, followed by Romania (7.5%) and Slovakia (5.4%). Taiwan (Chinese) (5.4K tons), Kazakhstan (4.6K tons), Spain (2.9K tons), Canada (2.9K tons), Hong Kong SAR (2.7K tons), Poland (2.7K tons), Italy (2.5K tons) and France (2.5K tons) held a minor share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Taiwan (Chinese) (with a CAGR of +42.6%), while the other global leaders experienced more modest paces of growth.

In value terms, Germany ($901M) remains the largest cylindrical roller bearing supplier worldwide, comprising 27% of global exports. The second position in the ranking was taken by Japan ($375M), with an 11% share of global exports. It was followed by China, with an 8.8% share.

In Germany, cylindrical roller bearing exports remained relatively stable over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Japan (-0.3% per year) and China (+6.6% per year).

Export Prices By Country

The average cylindrical roller bearing export price stood at $23,802 per ton in 2022, standing approx. at the previous year. In general, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 9.7%. The global export price peaked at $26,371 per ton in 2018; however, 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 France ($60,702 per ton), while Spain ($9,257 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+4.1%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform