Asia: Tapered Roller Bearing Market 2024

Tapered Roller Bearing Market Size in Asia

The Asian tapered roller bearing market expanded remarkably to $X in 2023, surging by X% against the previous year. In general, consumption, however, showed a relatively flat trend pattern. Over the period under review, the market attained the maximum level at $X in 2017; however, from 2018 to 2023, consumption stood at a somewhat lower figure.

Tapered Roller Bearing Production in Asia

In value terms, tapered roller bearing production rose modestly to $X in 2023 estimated in export price. Overall, production continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2022 to 2023, production growth failed to regain momentum.

Tapered Roller Bearing Exports

Exports in Asia

In 2023, overseas shipments of tapered roller bearings decreased by X% to X tons for the first time since 2020, thus ending a two-year rising trend. Overall, exports, however, recorded a prominent expansion. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2022, and then fell in the following year.

In value terms, tapered roller bearing exports declined to $X in 2023. The total export value increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. The level of export peaked at $X in 2022, and then reduced in the following year.

Exports by Country

In 2023, China (X tons) was the main exporter of tapered roller bearings, mixing up 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 South Korea (X%) and India (X%). The following exporters - Thailand (X tons) and Singapore (X tons) - each amounted to a X% share of total exports.

From 2012 to 2023, average annual rates of growth with regard to tapered roller bearing exports from China stood at X%. At the same time, Thailand (X%), India (X%) and South Korea (X%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing exporter exported in Asia, with a CAGR of X% from 2012-2023. Singapore experienced a relatively flat trend pattern. By contrast, Japan (X%) illustrated a downward trend over the same period. China (X p.p.), India (X p.p.) and Thailand (X p.p.) significantly strengthened its position in terms of the total exports, while Singapore and Japan saw its share reduced by X% and X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest tapered roller bearing supplying countries in Asia were China ($X), Japan ($X) and India ($X), with a combined X% share of total exports.

In terms of the main exporting countries, India, with a CAGR of X%, saw 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 2023, the export price in Asia amounted to $X per ton, with a decrease of X% against the previous year. Over the period under review, the export price saw a deep setback. The pace of growth appeared the most rapid in 2016 when the export price increased by X%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2023, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Singapore ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by South Korea (X%), while the other leaders experienced a decline in the export price figures.

Tapered Roller Bearing Imports

Imports in Asia

In 2023, supplies from abroad of tapered roller bearings decreased by X% to X tons, falling for the second consecutive year after two years of growth. Total imports indicated notable growth from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports decreased by X% against 2021 indices. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. As a result, imports attained the peak of X tons. From 2022 to 2023, the growth of imports remained at a lower figure.

In value terms, tapered roller bearing imports reduced to $X in 2023. Total imports indicated a mild expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports decreased by X% against 2021 indices. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. As a result, imports attained the peak of $X. From 2022 to 2023, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2023, China (X tons), distantly followed by India (X tons), Turkey (X tons), the United Arab Emirates (X tons), Thailand (X tons), Singapore (X tons), Indonesia (X tons), South Korea (X tons) and Japan (X tons) were the major importers of tapered roller bearings, together achieving X% of total imports.

From 2012 to 2023, average annual rates of growth with regard to tapered roller bearing imports into China stood at X%. At the same time, Thailand (X%), Turkey (X%), Indonesia (X%), the United Arab Emirates (X%), India (X%) and Japan (X%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing importer imported in Asia, with a CAGR of X% from 2012-2023. Singapore experienced a relatively flat trend pattern. By contrast, South Korea (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Thailand and Turkey increased by X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported tapered roller bearings in Asia, comprising X% of total imports. The second position in the ranking was taken by India ($X), with an X% share of total imports. It was followed by Singapore, with an X% share.

From 2012 to 2023, the average annual growth rate of value in China amounted to X%. In the other countries, the average annual rates were as follows: India (X% per year) and Singapore (X% per year).

Import Prices by Country

In 2023, the import price in Asia amounted to $X per ton, stabilizing at the previous year. In general, the import price showed a pronounced decline. The most prominent rate of growth was recorded in 2019 an increase of X% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2023, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was China ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Turkey (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform