Spherical Roller Bearing Market

The article provides a detailed analysis of the global market for spherical roller bearings. It discusses consumption trends, production volumes, import and export statistics, as well as projections for the market up to 2030. Key insights include the expected increase in market volume and value, fluctuations in consumption patterns, and the major countries influencing the market. The data reveals the trends in production, imports, and exports of spherical roller bearings, with notable growth in certain countries and fluctuations in prices over the years.

Market Forecast

Driven by increasing demand for spherical roller bearings worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +1.3% for the period from 2022 to 2030, which is projected to bring the market volume to 244K tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +3.3% for the period from 2022 to 2030, which is projected to bring the market value to $5.1B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Spherical Roller Bearings

After eight years of growth, consumption of spherical roller bearings decreased by -8.5% to 220K tons in 2022. In general, the total consumption indicated measured growth from 2012 to 2022: its volume increased at an average annual rate of +4.2% 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 +60.1% against 2013 indices. As a result, consumption attained the peak volume of 241K tons, and then reduced in the following year.

The global spherical roller bearing market size contracted to $3.9B in 2022, declining by -7.3% 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). Overall, the total consumption indicated a pronounced increase from 2012 to 2022: its value increased at an average annual rate of +3.8% 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 +55.4% against 2015 indices. As a result, consumption reached the peak level of $4.2B, and then shrank in the following year.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were the United States (40K tons), China (27K tons) and India (19K tons), together accounting for 39% of global consumption. Germany, Belgium, Thailand, Brazil, Denmark, Japan, Turkey, Russia, South Korea and Indonesia lagged somewhat behind, together accounting for a further 31%.

From 2012 to 2022, the biggest increases were recorded for Belgium (with a CAGR of +22.6%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($1.3B) led the market, alone. The second position in the ranking was held by China ($401M). It was followed by India.

From 2012 to 2022, the average annual growth rate of value in the United States amounted to +5.9%. In the other countries, the average annual rates were as follows: China (-1.9% per year) and India (+4.3% per year).

The countries with the highest levels of spherical roller bearing per capita consumption in 2022 were Denmark (1,026 kg per 1000 persons), Belgium (849 kg per 1000 persons) and Germany (162 kg per 1000 persons).

From 2012 to 2022, the biggest increases were recorded for Belgium (with a CAGR of +22.1%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Spherical Roller Bearings

In 2022, approx. 211K tons of spherical roller bearings were produced worldwide; declining by -3.6% on 2021. In general, the total production indicated a notable expansion from 2012 to 2022: its volume increased at an average annual rate of +4.0% 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 +49.6% against 2013 indices. The most prominent rate of growth was recorded in 2019 when the production volume increased by 26%. Global production peaked at 219K tons in 2021, and then fell slightly in the following year.

In value terms, spherical roller bearing production dropped to $3.6B in 2022 estimated in export price. Over the period under review, the total production indicated a noticeable expansion from 2012 to 2022: its value increased at an average annual rate of +3.2% 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 +46.7% against 2016 indices. The growth pace was the most rapid in 2021 with an increase of 16%. As a result, production attained the peak level of $3.9B, and then declined in the following year.

Production By Country

The countries with the highest volumes of production in 2022 were China (55K tons), the United States (33K tons) and Japan (23K tons), with a combined 53% share of global production.

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the main producing countries, was attained by China (with a CAGR of +11.1%), while production for the other global leaders experienced more modest paces of growth.

Imports

World Imports of Spherical Roller Bearings

In 2022, after five years of growth, there was significant decline in purchases abroad of spherical roller bearings, when their volume decreased by -6.8% to 172K tons. Overall, total imports indicated slight growth from 2012 to 2022: its volume increased at an average annual rate of +1.8% 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 +47.4% against 2016 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 22% against the previous year. As a result, imports reached the peak of 184K tons, and then reduced in the following year.

In value terms, spherical roller bearing imports shrank to $2.3B in 2022. In general, imports saw a slight shrinkage. The most prominent rate of growth was recorded in 2021 when imports increased by 14% against the previous year. Global imports peaked at $2.7B in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports By Country

The purchases of the twelve major importers of spherical roller bearings, namely Belgium, China, Thailand, Germany, the United States, India, France, Brazil, Denmark, South Korea, Turkey and Russia, represented more than half of total import. Italy (4.5K 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 +22.3%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, China ($247M), the United States ($231M) and Belgium ($208M) were the countries with the highest levels of imports in 2022, with a combined 30% share of global imports. India, Germany, France, Brazil, Italy, South Korea, Turkey, Denmark, Russia and Thailand lagged somewhat behind, together accounting for a further 36%.

India, with a CAGR of +4.7%, recorded the highest rates of growth with regard to the value of imports, among 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

In 2022, the average spherical roller bearing import price amounted to $13,540 per ton, surging by 7.2% against the previous year. Overall, the import price, however, showed a perceptible reduction. Over the period under review, average import prices attained the maximum at $18,392 per ton in 2012; however, from 2013 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 the United States ($24,600 per ton), while Thailand ($2,279 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 (+1.5%), while the other global leaders experienced a decline in the import price figures.

Exports

World Exports of Spherical Roller Bearings

Global spherical roller bearing exports declined slightly to 162K tons in 2022, leveling off at the year before. The total export volume increased at an average annual rate of +1.4% 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 when exports increased by 20% against the previous year. Over the period under review, the global exports reached the peak figure at 162K tons in 2021, and then dropped slightly in the following year.

In value terms, spherical roller bearing exports rose slightly to $2.2B in 2022. Overall, exports recorded a mild reduction. The pace of growth was the most pronounced in 2018 with an increase of 12% against the previous year. Over the period under review, the global exports attained the peak figure at $2.7B in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports By Country

In 2022, China (45K tons) represented the key exporter of spherical roller bearings, comprising 28% of total exports. Germany (20K tons) ranks second in terms of the total exports with a 12% share, followed by Sweden (12%), Japan (11%), Romania (7%) and Belgium (4.7%). Thailand (5.7K tons), Malaysia (5.5K tons), France (4.6K tons), the UK (3.6K tons) and Italy (2.7K tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to spherical roller bearing exports from China stood at +17.3%. At the same time, Thailand (+61.3%), Malaysia (+9.6%), Romania (+5.4%) and France (+2.4%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing exporter exported in the world, with a CAGR of +61.3% from 2012-2022. Italy, Japan and Germany experienced a relatively flat trend pattern. By contrast, Sweden (-3.3%), Belgium (-3.5%) and the UK (-3.7%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China, Thailand, Romania and Malaysia increased by +21, +3.5, +2.2 and +1.8 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Sweden ($360M), Germany ($338M) and China ($280M) were the countries with the highest levels of exports in 2022, together accounting for 44% of global exports. Japan, Belgium, Romania, Malaysia, the UK, France, Italy and Thailand lagged somewhat behind, together comprising a further 37%.

Thailand, with a CAGR of +29.0%, recorded the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

The average spherical roller bearing export price stood at $13,838 per ton in 2022, surging by 1.9% against the previous year. Over the period under review, the export price, however, recorded a perceptible descent. The growth pace was the most rapid in 2018 when the average export price increased by 6.1% against the previous year. Over the period under review, the average export prices hit record highs at $19,061 per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

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 UK ($26,374 per ton), while Thailand ($2,163 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+1.8%), while the other global leaders experienced mixed trends in the export price figures.

Source: IndexBox Market Intelligence Platform