ASEAN: Tools For Bearing Market 2024

Tools For Bearing Market Size in ASEAN

The ASEAN tools for bearing market fell modestly to $X in 2023, with a decrease of X% against the previous year. The total consumption indicated temperate growth 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, consumption decreased by X% against 2021 indices. Over the period under review, the market reached the peak level at $X in 2018; however, from 2019 to 2023, consumption remained at a lower figure.

Tools For Bearing Production in ASEAN

In value terms, tools for bearing production declined modestly to $X in 2023 estimated in export price. The total production indicated a moderate 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, production increased by X% against 2021 indices. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, production reached the peak level at $X in 2018; however, from 2019 to 2023, production remained at a lower figure.

Tools For Bearing Exports

Exports in ASEAN

Tools for bearing exports shrank markedly to X tons in 2023, reducing by X% against the year before. Total exports indicated a remarkable increase 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, exports decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2013 when exports increased by X%. The volume of export peaked at X tons in 2016; however, from 2017 to 2023, the exports remained at a lower figure.

In value terms, tools for bearing exports contracted significantly to $X in 2023. In general, exports continue to indicate a slight descent. The growth pace was the most rapid in 2021 when exports increased by X%. The level of export peaked at $X in 2016; however, from 2017 to 2023, the exports failed to regain momentum.

Exports by Country

Indonesia was the key exporter of balls, needles and rollers for ball or roller bearings in ASEAN, with the volume of exports reaching X tons, which was approx. X% of total exports in 2023. Thailand (X tons) took the second position in the ranking, distantly followed by Vietnam (X tons). All these countries together held near X% share of total exports. The following exporters - Singapore (X tons) and Malaysia (X tons) - together made up X% of total exports.

From 2012 to 2023, average annual rates of growth with regard to tools for bearing exports from Indonesia stood at X%. At the same time, Vietnam (X%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of X% from 2012-2023. Thailand experienced a relatively flat trend pattern. By contrast, Malaysia (X%) and Singapore (X%) illustrated a downward trend over the same period. While the share of Indonesia (X p.p.) and Vietnam (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of Malaysia (X p.p.), Thailand (X p.p.) and Singapore (X p.p.) displayed negative dynamics.

In value terms, the largest tools for bearing supplying countries in ASEAN were Thailand ($X), Indonesia ($X) and Singapore ($X), together accounting for X% of total exports. Vietnam and Malaysia lagged somewhat behind, together accounting for a further X%.

Vietnam, with a CAGR of X%, recorded 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 mixed trends in the exports figures.

Export Prices by Country

In 2023, the export price in ASEAN amounted to $X per ton, waning by X% against the previous year. Over the period under review, the export price showed a drastic downturn. The growth pace was the most rapid in 2020 when the export price increased by X% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 to 2023, the export prices remained at a lower figure.

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

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

Tools For Bearing Imports

Imports in ASEAN

Tools for bearing imports declined to X tons in 2023, shrinking by X% against the previous year. Total imports indicated a measured increase 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 pace of growth appeared the most rapid in 2021 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2023, imports stood at a somewhat lower figure.

In value terms, tools for bearing imports reduced markedly to $X in 2023. Overall, imports continue to indicate a mild descent. The pace of growth appeared the most rapid in 2021 when imports increased by X%. Over the period under review, imports attained the maximum at $X in 2018; however, from 2019 to 2023, imports remained at a lower figure.

Imports by Country

Thailand was the key importing country with an import of around X tons, which resulted at X% of total imports. Malaysia (X tons) ranks second in terms of the total imports with a X% share, followed by Vietnam (X%), Indonesia (X%) and the Philippines (X%). The following importers - Singapore (X tons) and Myanmar (X tons) - together made up X% of total imports.

Imports into Thailand increased at an average annual rate of X% from 2012 to 2023. At the same time, Myanmar (X%), the Philippines (X%) and Vietnam (X%) displayed positive paces of growth. Moreover, Myanmar emerged as the fastest-growing importer imported in ASEAN, with a CAGR of X% from 2012-2023. Malaysia experienced a relatively flat trend pattern. By contrast, Indonesia (X%) and Singapore (X%) illustrated a downward trend over the same period. The Philippines (X p.p.), Vietnam (X p.p.), Myanmar (X p.p.) and Thailand (X p.p.) significantly strengthened its position in terms of the total imports, while Malaysia, Indonesia and Singapore saw its share reduced by X%, X% and X% from 2012 to 2023, respectively.

In value terms, Thailand ($X) constitutes the largest market for imported balls, needles and rollers for ball or roller bearings in ASEAN, comprising X% of total imports. The second position in the ranking was held by Malaysia ($X), with a X% share of total imports. It was followed by Vietnam, with a X% share.

From 2012 to 2023, the average annual growth rate of value in Thailand was relatively modest. In the other countries, the average annual rates were as follows: Malaysia (X% per year) and Vietnam (X% per year).

Import Prices by Country

In 2023, the import price in ASEAN amounted to $X per ton, falling by X% against the previous year. Over the period under review, the import price recorded a perceptible descent. The growth pace was the most rapid in 2019 when the import price increased by X%. Over the period under review, import prices attained the maximum 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 Singapore ($X per ton), while Myanmar ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform