South-Eastern Asia: Ball Bearing Parts Market 2024

Ball Bearing Parts Market Size in South-Eastern Asia

In 2023, the Southeast Asian ball bearing parts market decreased by X% to $X, falling for the second consecutive year after two years of growth. The total consumption indicated a notable expansion from 2012 to 2023: its value 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, consumption decreased by X% against 2021 indices. The level of consumption peaked at $X in 2021; however, from 2022 to 2023, consumption stood at a somewhat lower figure.

Ball Bearing Parts Production in South-Eastern Asia

In value terms, ball bearing parts production declined slightly to $X in 2023 estimated in export price. Overall, production, however, recorded prominent growth. The growth pace was the most rapid in 2017 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2023, production stood at a somewhat lower figure.

Ball Bearing Parts Exports

Exports in South-Eastern Asia

In 2023, shipments abroad of parts of ball or roller bearings decreased by X% to X tons, falling for the second consecutive year after two years of growth. Over the period under review, exports continue to indicate a pronounced descent. The growth pace was the most rapid in 2017 when exports increased by X% against the previous year. The volume of export peaked at X tons in 2018; however, from 2019 to 2023, the exports stood at a somewhat lower figure.

In value terms, ball bearing parts exports fell markedly to $X in 2023. In general, exports continue to indicate a perceptible descent. The growth pace was the most rapid in 2017 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

Thailand was the main exporting country with an export of about X tons, which reached X% of total exports. Malaysia (X tons) took a X% share (based on physical terms) of total exports, which put it in second place, followed by Vietnam (X%), Singapore (X%) and Indonesia (X%).

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

In value terms, Thailand ($X), Vietnam ($X) and Singapore ($X) appeared to be the countries with the highest levels of exports in 2023, together comprising X% of total exports.

Among the main exporting countries, Vietnam, 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

The export price in South-Eastern Asia stood at $X per ton in 2023, growing by X% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of X% against the previous year. Over the period under review, the export prices reached the peak figure in 2023 and is likely to see gradual growth in the near future.

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 Indonesia ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Vietnam (X%), while the other leaders experienced more modest paces of growth.

Ball Bearing Parts Imports

Imports in South-Eastern Asia

In 2023, approx. X tons of parts of ball or roller bearings were imported in South-Eastern Asia; which is down by X% compared with 2022 figures. Over the period under review, imports continue to indicate a noticeable curtailment. The pace of growth appeared the most rapid in 2017 when imports increased by X%. The volume of import peaked at X tons in 2018; however, from 2019 to 2023, imports failed to regain momentum.

In value terms, ball bearing parts imports reduced markedly to $X in 2023. In general, imports showed a noticeable curtailment. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2023, imports stood at a somewhat lower figure.

Imports by Country

Thailand (X tons), Indonesia (X tons) and Malaysia (X tons) represented roughly X% of total imports in 2023. Vietnam (X tons) took the next position in the ranking, followed by Singapore (X tons) and the Philippines (X tons). All these countries together held approx. X% share of total imports. Myanmar (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 Myanmar (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Thailand ($X), Indonesia ($X) and Vietnam ($X) appeared to be the countries with the highest levels of imports in 2023, with a combined X% share of total imports. Malaysia, Singapore, the Philippines and Myanmar lagged somewhat behind, together accounting for a further X%.

The Philippines, with a CAGR of X%, 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 leaders experienced more modest paces of growth.

Import Prices by Country

The import price in South-Eastern Asia stood at $X per ton in 2023, falling by X% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the import price increased by X% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2022, and then declined in the following year.

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 Vietnam ($X per ton), while Myanmar ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform