World - Tapered Roller Bearings - Market Analysis, Forecast, Size, Trends And Insights
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The article discusses the current and future trends in the global market for tapered roller bearings. It forecasts an increase in market volume and value, with a CAGR of +2.5% and +4.8% respectively from 2022 to 2030. Consumption, production, imports, and exports are analyzed, with key countries such as China, the United States, and India highlighted for their significant roles. The data shows a pattern of growth in consumption, a decline in production in 2022, and a rise in exports in 2022. The average prices for imports and exports are also discussed, with notable differences among the major exporting countries.
Market Forecast
Driven by increasing demand for tapered roller bearings worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +2.5% for the period from 2022 to 2030, which is projected to bring the market volume to 1M tons by the end of 2030.
In value terms, the market is forecast to increase with an anticipated CAGR of +4.8% for the period from 2022 to 2030, which is projected to bring the market value to $15.7B (in nominal prices) by the end of 2030.
Consumption
World Consumption of Tapered Roller Bearings
In 2022, the amount of tapered roller bearings consumed worldwide fell slightly to 842K tons, waning by -4.4% on the previous year. The total consumption volume increased at an average annual rate of +1.9% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 when the consumption volume increased by 8.6% against the previous year. Over the period under review, global consumption reached the peak volume at 911K tons in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.
The global tapered roller bearing market revenue dropped slightly to $10.8B in 2022, with a decrease of -3.3% 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). The market value increased at an average annual rate of +1.4% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. Over the period under review, the global market hit record highs at $11.4B in 2019; however, from 2020 to 2022, consumption failed to regain momentum.
Consumption By Country
The countries with the highest volumes of consumption in 2022 were China (158K tons), the United States (118K tons) and India (77K tons), together comprising 42% of global consumption.
From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of +7.2%), while consumption for the other global leaders experienced more modest paces of growth.
In value terms, the largest tapered roller bearing markets worldwide were the United States ($3B), China ($1.8B) and India ($1.2B), with a combined 55% share of the global market.
The United States, with a CAGR of +9.0%, recorded the highest rates of growth with regard to market size in terms of the main consuming countries over the period under review, while market for the other global leaders experienced more modest paces of growth.
The countries with the highest levels of tapered roller bearing per capita consumption in 2022 were Canada (465 kg per 1000 persons), Germany (436 kg per 1000 persons) and Spain (361 kg per 1000 persons).
From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the main consuming countries, was attained by the United States (with a CAGR of +6.5%), while consumption for the other global leaders experienced more modest paces of growth.
Production
World Production of Tapered Roller Bearings
In 2022, the amount of tapered roller bearings produced worldwide declined to 822K tons, waning by -2.2% on 2021 figures. The total output volume increased at an average annual rate of +2.0% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2019 with an increase of 11%. As a result, production reached the peak volume of 896K tons. From 2020 to 2022, global production growth remained at a lower figure.
In value terms, tapered roller bearing production declined modestly to $10.5B in 2022 estimated in export price. The total output value increased at an average annual rate of +1.6% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2014 when the production volume increased by 14%. Global production peaked at $11B in 2019; however, from 2020 to 2022, production remained at a lower figure.
Production By Country
China (258K tons) constituted the country with the largest volume of tapered roller bearing production, accounting for 31% of total volume. Moreover, tapered roller bearing production in China exceeded the figures recorded by the second-largest producer, India (85K tons), threefold. Japan (79K tons) ranked third in terms of total production with a 9.6% share.
From 2012 to 2022, the average annual rate of growth in terms of volume in China stood at +4.3%. In the other countries, the average annual rates were as follows: India (+4.0% per year) and Japan (-2.4% per year).
Imports
World Imports of Tapered Roller Bearings
In 2022, overseas purchases of tapered roller bearings increased by 2.5% to 482K tons, rising for the second consecutive year after two years of decline. The total import volume increased at an average annual rate of +2.9% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 with an increase of 29%. Over the period under review, global imports attained the peak figure in 2022 and are expected to retain growth in the near future.
In value terms, tapered roller bearing imports stood at $5.3B in 2022. The total import value increased at an average annual rate of +1.4% from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 with an increase of 25% against the previous year. Over the period under review, global imports reached the maximum in 2022 and are expected to retain growth in the near future.
Imports By Country
Germany (67K tons) and the United States (55K tons) represented roughly 25% of total imports in 2022. China (30K tons) ranks next in terms of the total imports with a 6.3% share, followed by Brazil (6.3%), France (5.5%) and Mexico (5.1%). Italy (20K tons), Sweden (13K tons), Turkey (12K tons), Australia (12K tons), India (12K tons), Russia (12K tons) and the Netherlands (11K tons) followed a long way behind the leaders.
From 2012 to 2022, the biggest increases were recorded for Australia (with a CAGR of +9.2%), while purchases for the other global leaders experienced more modest paces of growth.
In value terms, Germany ($650M), the United States ($621M) and China ($487M) appeared to be the countries with the highest levels of imports in 2022, with a combined 33% share of global imports. France, Mexico, Brazil, Italy, Australia, India, Sweden, Russia, Turkey and the Netherlands lagged somewhat behind, together comprising a further 32%.
Russia, with a CAGR of +6.8%, 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 global leaders experienced more modest paces of growth.
Import Prices By Country
In 2022, the average tapered roller bearing import price amounted to $10,943 per ton, dropping by -1.5% against the previous year. Overall, the import price saw a slight decrease. The most prominent rate of growth was recorded in 2019 when the average import price increased by 3.7% against the previous year. Global import price peaked at $12,743 per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.
Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was China ($16,042 per ton), while Brazil ($6,838 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+1.7%), while the other global leaders experienced a decline in the import price figures.
Exports
World Exports of Tapered Roller Bearings
Global tapered roller bearing exports rose notably to 462K tons in 2022, increasing by 7.4% compared with 2021. The total export volume increased at an average annual rate of +3.2% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when exports increased by 32% against the previous year. Over the period under review, the global exports attained the peak figure in 2022 and are expected to retain growth in the near future.
In value terms, tapered roller bearing exports rose to $5.2B in 2022. Overall, exports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of 22%. Over the period under review, the global exports attained the peak figure in 2022 and are likely to see steady growth in the near future.
Exports By Country
In 2022, China (130K tons) represented the main exporter of tapered roller bearings, creating 28% of total exports. Japan (54K tons) held the second position in the ranking, followed by Germany (45K tons), Romania (24K tons), France (24K tons) and Austria (22K tons). All these countries together took approx. 36% share of total exports. South Korea (20K tons), India (20K tons), Poland (15K tons), the United States (12K tons), the Netherlands (9.9K tons), Singapore (8.5K tons) and Italy (8.2K tons) followed a long way behind the leaders.
China was also the fastest-growing in terms of the tapered roller bearings exports, with a CAGR of +16.4% from 2012 to 2022. At the same time, India (+15.2%), Romania (+8.6%), South Korea (+8.6%), Singapore (+4.2%), the Netherlands (+3.7%), Poland (+3.0%), Germany (+2.4%) and Italy (+1.6%) displayed positive paces of growth. Japan and France experienced a relatively flat trend pattern. By contrast, Austria (-3.6%) and the United States (-9.3%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China, India, Romania and South Korea increased by +20, +2.8, +2.1 and +1.7 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.
In value terms, Germany ($683M), China ($681M) and the United States ($647M) were the countries with the highest levels of exports in 2022, together accounting for 39% of global exports. Japan, France, Romania, India, Austria, South Korea, Poland, Singapore, the Netherlands and Italy lagged somewhat behind, together comprising a further 47%.
India, with a CAGR of +12.2%, 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 global leaders experienced more modest paces of growth.
Export Prices By Country
The average tapered roller bearing export price stood at $11,175 per ton in 2022, shrinking by -4.4% against the previous year. In general, the export price saw a perceptible decrease. The pace of growth appeared the most rapid in 2018 an increase of 4.9% against the previous year. Over the period under review, the average export prices reached the maximum at $14,188 per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.
There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the United States ($54,921 per ton), while China ($5,233 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+11.3%), while the other global leaders experienced more modest paces of growth.
This report provides an in-depth analysis of the global tapered roller bearing market. 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 28151053 - Tapered roller bearings (including cone and tapered roller assemblies)
Country coverage:
Worldwide - the report contains statistical data for 200 countries and includes detailed profiles of the 50 largest consuming countries:
- USA
- China
- Japan
- Germany
- United Kingdom
- France
- Brazil
- Italy
- Russian Federation
- India
- Canada
- Australia
- Republic of Korea
- Spain
- Mexico
- Indonesia
- Netherlands
- Turkey
- Saudi Arabia
- Switzerland
- Sweden
- Nigeria
- Poland
- Belgium
- Argentina
- Norway
- Austria
- Thailand
- United Arab Emirates
- Colombia
- Denmark
- South Africa
- Malaysia
- Israel
- Singapore
- Egypt
- Philippines
- Finland
- Chile
- Ireland
- Pakistan
- Greece
- Portugal
- Kazakhstan
- Algeria
- Czech Republic
- Qatar
- Peru
- Romania
- Vietnam
+ the largest producing countries
Data coverage:
- Global market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Global production, split by region and country
- Global trade (exports and imports)
- 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
- CONSUMPTION BY COUNTRY
- 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. GLOBAL PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
- PRODUCTION BY COUNTRY
8. GLOBAL IMPORTS
The Largest Importers on The Market and How They Succeed
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. GLOBAL EXPORTS
The Largest Exporters on The Market and How They Succeed
- 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 -
11. COUNTRY PROFILES
The Largest Markets And Their Profiles
This Chapter is Available Only for the Professional Edition PRO- United States
- China
- Japan
- Germany
- United Kingdom
- France
- Brazil
- Italy
- Russian Federation
- India
- Canada
- Australia
- Republic of Korea
- Spain
- Mexico
- Indonesia
- Netherlands
- Turkey
- Saudi Arabia
- Switzerland
- Sweden
- Nigeria
- Poland
- Belgium
- Argentina
- Norway
- Austria
- Thailand
- United Arab Emirates
- Colombia
- Denmark
- South Africa
- Malaysia
- Israel
- Singapore
- Egypt
- Philippines
- Finland
- Chile
- Ireland
- Pakistan
- Greece
- Portugal
- Kazakhstan
- Algeria
- Czech Republic
- Qatar
- Peru
- Romania
- Vietnam
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LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption, By Country, 2018–2023
- Production, In Physical Terms, By Country, 2012–2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Destination, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Origin, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Consumption, By Country, 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
- Production, By Country, 2023
- Production, In Physical Terms, By Country, 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, 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, 2012–2023
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