Republic of Korea - Roller Bearings - Market Analysis, Forecast, Size, Trends and Insights
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View PricingRepublic of Korea: Roller Bearing Market 2024
Roller Bearing Market Size in Republic of Korea
In 2023, the South Korean roller bearing market decreased by X% to $X for the first time since 2020, thus ending a two-year rising trend. Over the period under review, consumption showed a noticeable curtailment. South Korea consumption peaked at $X in 2016; however, from 2017 to 2023, consumption stood at a somewhat lower figure.
Roller Bearing Production in Republic of Korea
In value terms, roller bearing production dropped slightly to $X in 2023 estimated in export price. Over the period under review, production recorded a abrupt descent. The growth pace was the most rapid in 2014 when the production volume increased by X%. As a result, production reached the peak level of $X. From 2015 to 2023, production growth failed to regain momentum.
Roller Bearing Exports
Exports from Republic of Korea
Roller bearing exports from South Korea rose markedly to X tons in 2023, picking up by X% on the year before. Overall, exports, however, continue to indicate a abrupt slump. The most prominent rate of growth was recorded in 2018 when exports increased by X%. Over the period under review, the exports reached the peak figure at X tons in 2014; however, from 2015 to 2023, the exports remained at a lower figure.
In value terms, roller bearing exports skyrocketed to $X in 2023. Over the period under review, exports, however, continue to indicate a deep reduction. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. The South Korea exports peaked at $X in 2014; however, from 2015 to 2023, the exports remained at a lower figure.
Exports by Country
China represented the major exporter of roller bearings in the world, with the volume of exports recording X tons, which was near X% of total exports in 2023. Germany (X tons) took a X% share (based on physical terms) of total exports, which put it in second place, followed by France (X%), Singapore (X%), Slovakia (X%) and Italy (X%). The United States (X tons), Vietnam (X tons), the Netherlands (X tons), Turkey (X tons), Hong Kong SAR (X tons), Austria (X tons) and Taiwan (Chinese) (X tons) held a little share of total exports.
China was also the fastest-growing in terms of the roller bearings exports, with a CAGR of X% from 2012 to 2023. At the same time, the Netherlands (X%), Vietnam (X%) and Turkey (X%) displayed positive paces of growth. Germany and Slovakia experienced a relatively flat trend pattern. By contrast, Italy (X%), Taiwan (Chinese) (X%), France (X%), Singapore (X%), the United States (X%), Hong Kong SAR (X%) and Austria (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of China, Vietnam and the Netherlands increased by X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.
In value terms, the largest roller bearing supplying countries from South Korea were China ($X), Germany ($X) and Italy ($X), with a combined X% share of total exports. The United States, Singapore, France, Vietnam, the Netherlands, Hong Kong SAR, Slovakia, Turkey, Taiwan (Chinese) and Austria lagged somewhat behind, together comprising a further X%.
Vietnam, with a CAGR of X%, saw 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 leaders experienced more modest paces of growth.
Export Prices by Country
In 2023, the export price in South Korea amounted to $X per ton, growing by X% against the previous year. Overall, export price indicated a notable increase from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, roller bearing export price decreased by X% against 2021 indices. The most prominent rate of growth was recorded in 2016 an increase of X% against the previous year. Over the period under review, the export prices attained the peak figure at $X per ton in 2017; however, from 2018 to 2023, the export prices failed to regain momentum.
There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was the United States ($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 Austria (X%), while the other leaders experienced more modest paces of growth.
Roller Bearing Imports
Imports into Republic of Korea
In 2023, after two years of growth, there was decline in purchases abroad of roller bearings, when their volume decreased by X% to X tons. Overall, imports recorded a slight decrease. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, imports attained the maximum at X tons in 2013; however, from 2014 to 2023, imports failed to regain momentum.
In value terms, roller bearing imports declined to $X in 2023. In general, imports recorded a deep downturn. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. South Korea imports peaked at $X in 2013; however, from 2014 to 2023, imports stood at a somewhat lower figure.
Imports by Country
In 2023, Indonesia (X tons), followed by Thailand (X tons), India (X tons) and Germany (X tons) were the main importers of roller bearings, together comprising X% of total imports. Italy (X tons), Canada (X tons), Poland (X tons), Nigeria (X tons), France (X tons), Austria (X tons), Spain (X tons), Malaysia (X tons) and Mexico (X tons) followed a long way behind the leaders.
From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Malaysia (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.
In value terms, Germany ($X), India ($X) and Indonesia ($X) appeared to be the countries with the highest levels of imports in 2023, with a combined X% share of total imports. Canada, Thailand, Poland, Italy, France, Malaysia, Mexico, Austria, Spain and Nigeria lagged somewhat behind, together comprising a further X%.
Poland, with a CAGR of X%, saw 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 leaders experienced more modest paces of growth.
Import Prices by Country
The import price in South Korea stood at $X per ton in 2023, increasing by X% against the previous year. In general, the import price, however, saw a abrupt decline. The pace of growth appeared the most rapid in 2020 an increase of X% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2023, import prices failed to regain momentum.
Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Canada ($X per ton), while Nigeria ($X per ton) was amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was attained by France (X%), while the other leaders experienced more modest paces of growth.
Source: IndexBox Platform
This report provides an in-depth analysis of the roller bearing market in Republic of Korea. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 28151090 - Roller bearings (including combined ball/roller bearings) (excluding tapered roller bearings, spherical roller bearings, n eedle roller bearings)
Country coverage:
- South Korea
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Republic of Korea
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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