China's ball and roller bearings market to witness steady growth with CAGR of +2.8% leading to $20.8B value by 2035 - News and Statistics - IndexBox

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IndexBox has just published a new report: China - Ball and Roller Bearings - Market Analysis, Forecast, Size, Trends And Insights.

The article discusses the anticipated growth of the ball and roller bearings market in China, driven by rising demand. The market is forecasted to expand with a CAGR of +2.8% from 2024 to 2035, leading to a significant increase in both volume and value by the end of 2035.

Driven by increasing demand for ball and roller bearings in China, the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to accelerate, expanding with an anticipated CAGR of +2.8% for the period from 2024 to 2035, which is projected to bring the market volume to 1.5M tons by the end of 2035.

In value terms, the market is forecast to increase with an anticipated CAGR of +2.8% for the period from 2024 to 2035, which is projected to bring the market value to $20.8B (in nominal wholesale prices) by the end of 2035.

In 2024, consumption of ball and roller bearings decreased by -4.1% to 1.1M tons, falling for the third year in a row after two years of growth. The total consumption volume increased at an average annual rate of +1.8% over the period from 2013 to 2024; the trend pattern remained consistent, with only minor fluctuations in certain years. Over the period under review, consumption attained the maximum volume at 1.2M tons in 2021; however, from 2022 to 2024, consumption stood at a somewhat lower figure.

The size of the bearing market in China declined to $15.4B in 2024, shrinking by -4.5% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption continues to indicate a relatively flat trend pattern. Bearing consumption peaked at $20.1B in 2018; however, from 2019 to 2024, consumption stood at a somewhat lower figure.

In 2024, production of ball and roller bearings in China amounted to 1.8M tons, remaining constant against the previous year. Overall, the total production indicated a resilient expansion from 2013 to 2024: its volume increased at an average annual rate of +6.2% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, production decreased by -0.6% against 2022 indices. The growth pace was the most rapid in 2019 when the production volume increased by 41% against the previous year. Bearing production peaked at 1.8M tons in 2022; afterwards, it flattened through to 2024.

In value terms, bearing production totaled $23.7B in 2024 estimated in export price. The total output value increased at an average annual rate of +3.2% over the period from 2013 to 2024; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 when the production volume increased by 13% against the previous year. Bearing production peaked at $23.7B in 2022; afterwards, it flattened through to 2024.

In 2024, imports of ball and roller bearings into China declined significantly to 105K tons, with a decrease of -17.3% compared with the previous year's figure. Overall, imports recorded a slight decline. The growth pace was the most rapid in 2019 with an increase of 56% against the previous year. As a result, imports reached the peak of 254K tons. From 2020 to 2024, the growth of imports remained at a somewhat lower figure.

In value terms, bearing imports dropped to $2.8B in 2024. Over the period under review, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by 20%. As a result, imports reached the peak of $4.4B. From 2022 to 2024, the growth of imports remained at a somewhat lower figure.

In 2024, Japan (36K tons) constituted the largest bearing supplier to China, with a 34% share of total imports. Moreover, bearing imports from Japan exceeded the figures recorded by the second-largest supplier, Germany (16K tons), twofold. The third position in this ranking was taken by South Korea (9.1K tons), with an 8.7% share.

From 2013 to 2024, the average annual growth rate of volume from Japan totaled +1.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-3.7% per year) and South Korea (+4.5% per year).

In value terms, the largest bearing suppliers to China were Japan ($708M), Germany ($496M) and Thailand ($239M), with a combined 51% share of total imports. The United States, South Korea, Taiwan (Chinese), Austria, France, Italy, Romania and India lagged somewhat behind, together comprising a further 31%.

Among the main suppliers, Taiwan (Chinese), with a CAGR of +9.4%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

The average bearing import price stood at $26,849 per ton in 2024, increasing by 10% against the previous year. In general, import price indicated modest growth from 2013 to 2024: its price increased at an average annual rate of +1.3% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, bearing import price increased by +120.2% against 2019 indices. The pace of growth appeared the most rapid in 2020 when the average import price increased by 69%. The import price peaked in 2024 and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($106,514 per ton), while the price for South Korea ($13,802 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by the United States (+15.0%), while the prices for the other major suppliers experienced more modest paces of growth.

In 2024, the amount of ball and roller bearings exported from China rose slightly to 806K tons, growing by 4.9% against 2023 figures. Over the period under review, exports posted a buoyant expansion. The most prominent rate of growth was recorded in 2019 when exports increased by 339% against the previous year. The exports peaked in 2024 and are expected to retain growth in years to come.

In value terms, bearing exports totaled $5B in 2024. In general, total exports indicated measured growth from 2013 to 2024: its value increased at an average annual rate of +3.6% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, exports decreased by -7.2% against 2022 indices. The pace of growth appeared the most rapid in 2021 with an increase of 40% against the previous year. The exports peaked at $5.4B in 2022; however, from 2023 to 2024, the exports failed to regain momentum.

India (114K tons), the United States (60K tons) and Germany (55K tons) were the main destinations of bearing exports from China, with a combined 28% share of total exports. Brazil, Malaysia, Mexico, Italy, South Korea, Vietnam, Indonesia and France lagged somewhat behind, together comprising a further 28%.

From 2013 to 2024, the biggest increases were recorded for Mexico (with a CAGR of +25.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, India ($533M), the United States ($456M) and Germany ($420M) constituted the largest markets for bearing exported from China worldwide, together comprising 28% of total exports. Brazil, South Korea, Mexico, Italy, Vietnam, Malaysia, France and Indonesia lagged somewhat behind, together comprising a further 27%.

In terms of the main countries of destination, Mexico, with a CAGR of +12.5%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

In 2024, the average bearing export price amounted to $6,175 per ton, with a decrease of -3.7% against the previous year. In general, the export price recorded a abrupt slump. The most prominent rate of growth was recorded in 2020 an increase of 24% against the previous year. The export price peaked at $24,317 per ton in 2013; however, from 2014 to 2024, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2024, amid the top suppliers, the country with the highest price was South Korea ($8,655 per ton), while the average price for exports to Malaysia ($4,148 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was recorded for supplies to France (-9.3%), while the prices for the other major destinations experienced a decline.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the bearing market in China. 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.

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:

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.

Making Data-Driven Decisions to Grow Your Business

A Quick Overview of Market Performance

Understanding the Current State of The Market and Its Prospects

Finding New Products to Diversify Your Business

Choosing the Best Countries to Establish Your Sustainable Supply Chain

Choosing the Best Countries to Boost Your Exports

The Latest Trends and Insights into The Industry

The Largest Import Supplying Countries

The Largest Destinations for Exports

The Largest Producers on The Market and Their Profiles