Eastern Asia: Spherical Roller Bearing Market 2024

Spherical Roller Bearing Market Size in Eastern Asia

The East Asian spherical roller bearing market was estimated at $X in 2023, approximately mirroring the previous year. Over the period under review, consumption, however, continues to indicate a pronounced decline. As a result, consumption attained the peak level of $X. From 2022 to 2023, the growth of the market remained at a lower figure.

Spherical Roller Bearing Production in Eastern Asia

In value terms, spherical roller bearing production rose significantly to $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2022 to 2023, production growth remained at a somewhat lower figure.

Spherical Roller Bearing Exports

Exports in Eastern Asia

In 2023, after two years of growth, there was decline in overseas shipments of spherical roller bearings, when their volume decreased by X% to X tons. Over the period under review, exports, however, showed a buoyant expansion. The pace of growth was the most pronounced 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 shrank in the following year.

In value terms, spherical roller bearing exports dropped to $X in 2023. In general, exports showed a relatively flat trend pattern. The growth pace was the most rapid in 2014 when exports increased by X%. The level of export peaked at $X in 2015; however, from 2016 to 2023, the exports failed to regain momentum.

Exports by Country

China represented the largest exporter of spherical roller bearings in Eastern Asia, with the volume of exports reaching X tons, which was approx. X% of total exports in 2023. It was distantly followed by Japan (X tons), generating a X% share of total exports. South Korea (X tons) held a little share of total exports.

China was also the fastest-growing in terms of the spherical roller bearings exports, with a CAGR of X% from 2012 to 2023. At the same time, South Korea (X%) displayed positive paces of growth. By contrast, Japan (X%) illustrated a downward trend over the same period. China (X p.p.) significantly strengthened its position in terms of the total exports, while Japan saw its share reduced by X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X), Japan ($X) and South Korea ($X) constituted the countries with the highest levels of exports in 2023, with a combined X% share of total exports.

In terms of the main exporting countries, South Korea, with a CAGR of X%, saw the highest growth rate of the value of exports, 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 Eastern Asia amounted to $X per ton, falling by X% against the previous year. Over the period under review, the export price saw a deep contraction. The pace of growth was the most pronounced in 2014 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 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 South Korea ($X per ton), while China ($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.

Spherical Roller Bearing Imports

Imports in Eastern Asia

For the third consecutive year, Eastern Asia recorded decline in purchases abroad of spherical roller bearings, which decreased by X% to X tons in 2023. Over the period under review, imports showed a mild shrinkage. The growth pace was the most rapid in 2020 with an increase of X%. As a result, imports reached the peak of X tons. From 2021 to 2023, the growth of imports remained at a lower figure.

In value terms, spherical roller bearing imports dropped notably to $X in 2023. Overall, imports recorded a pronounced reduction. The most prominent rate of growth was recorded in 2020 with an increase of X%. As a result, imports attained the peak of $X. From 2021 to 2023, the growth of imports remained at a lower figure.

Imports by Country

China represented the largest importer of spherical roller bearings in Eastern Asia, with the volume of imports recording X tons, which was near X% of total imports in 2023. South Korea (X tons) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Taiwan (Chinese) (X%) and Hong Kong SAR (X%). Japan (X tons) held a little share of total imports.

Imports into China decreased at an average annual rate of X% from 2012 to 2023. At the same time, Hong Kong SAR (X%) displayed positive paces of growth. Moreover, Hong Kong SAR emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of X% from 2012-2023. By contrast, South Korea (X%), Taiwan (Chinese) (X%) and Japan (X%) illustrated a downward trend over the same period. While the share of Hong Kong SAR (X p.p.) increased significantly in terms of the total imports from 2012-2023, the share of South Korea (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported spherical roller bearings in Eastern Asia, comprising X% of total imports. The second position in the ranking was taken by South Korea ($X), with a X% share of total imports. It was followed by Taiwan (Chinese), with a X% share.

In China, spherical roller bearing imports shrank by an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: South Korea (X% per year) and Taiwan (Chinese) (X% per year).

Import Prices by Country

In 2023, the import price in Eastern Asia amounted to $X per ton, therefore, remained relatively stable against the previous year. In general, the import price showed a perceptible slump. The most prominent rate of growth was recorded in 2018 when the import price increased by X% against the previous year. The level of import peaked at $X per ton in 2014; however, from 2015 to 2023, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Japan ($X per ton), while South Korea ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform