Japan's Ball Bearings Market to Continue Upward Trend with Expected CAGR of +2.0% from 2024 to 2035 - News and Statistics - IndexBox

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

The demand for ball bearings in Japan is on the rise, leading to an anticipated increase in market volume to 191K tons and value to $3.5B by 2035. Despite a forecasted deceleration in market performance, the industry is expected to experience a steady growth with a projected CAGR of +2.0% in volume and +2.1% in value from 2024 to 2035.

Driven by increasing demand for ball bearings in Japan, the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +2.0% for the period from 2024 to 2035, which is projected to bring the market volume to 191K tons by the end of 2035.

In value terms, the market is forecast to increase with an anticipated CAGR of +2.1% for the period from 2024 to 2035, which is projected to bring the market value to $3.5B (in nominal wholesale prices) by the end of 2035.

Ball bearing consumption in Japan expanded sharply to 154K tons in 2024, increasing by 7.7% against the year before. The total consumption volume increased at an average annual rate of +2.9% over the period from 2013 to 2024; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. Japan consumption peaked in 2024 and is likely to see steady growth in the near future.

The revenue of the ball bearing market in Japan expanded sharply to $2.8B in 2024, increasing by 5.9% 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 +2.3% over the period from 2013 to 2024; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The pace of growth appeared the most rapid in 2018 with an increase of 9.8%. Japan consumption peaked in 2024 and is expected to retain growth in the immediate term.

In 2024, production of ball bearings in Japan totaled 218K tons, remaining stable against 2023. The total output volume increased at an average annual rate of +1.3% over the period from 2013 to 2024; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 with an increase of 15% against the previous year. Over the period under review, production hit record highs at 232K tons in 2019; however, from 2020 to 2024, production stood at a somewhat lower figure.

In value terms, ball bearing production dropped modestly to $4B in 2024 estimated in export price. In general, production showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of 15%. Over the period under review, production reached the peak level at $4.1B in 2019; however, from 2020 to 2024, production failed to regain momentum.

In 2024, supplies from abroad of ball bearings decreased by -4.8% to 20K tons, falling for the second year in a row after two years of growth. The total import volume increased at an average annual rate of +2.2% over the period from 2013 to 2024; 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 imports increased by 23%. Japan imports peaked at 22K tons in 2022; however, from 2023 to 2024, imports failed to regain momentum.

In value terms, ball bearing imports reduced to $382M in 2024. In general, imports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 when imports increased by 19% against the previous year. Over the period under review, imports hit record highs at $441M in 2022; however, from 2023 to 2024, imports remained at a lower figure.

In 2023, Germany (113K tons), followed by the United States (63K tons), China (57K tons) and Mexico (43K tons) represented the major importers of ball bearings, together committing 30% of total imports. Italy (38K tons), the Netherlands (36K tons), Brazil (33K tons), Indonesia (31K tons), France (30K tons) and South Korea (29K tons) held a relatively small share of total imports.

From 2013 to 2023, the biggest increases were recorded for Mexico (with a CAGR of +3.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest ball bearing importing markets into Japan were Germany ($1.9B), China ($1.6B) and the United States ($1.2B), with a combined 32% share of total imports. Mexico, Italy, France, the Netherlands, South Korea, Brazil and Indonesia lagged somewhat behind, together accounting for a further 21%.

Mexico, with a CAGR of +3.1%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

The import price in Japan stood at $19,561 per ton in 2023, dropping by -3.8% against the previous year. Overall, the import price continues to indicate a mild setback. The pace of growth was the most pronounced in 2016 when the import price increased by 3% against the previous year. Over the period under review, import prices attained the maximum at $23,433 per ton in 2013; however, from 2014 to 2023, import prices remained at a lower figure.

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 China ($27,660 per ton), while Indonesia ($7,993 per ton) was amongst the lowest.

From 2013 to 2023, the most notable rate of growth in terms of prices was attained by Indonesia (+8.8%), while the other leaders experienced more modest paces of growth.

In 2024, shipments abroad of ball bearings decreased by -10.5% to 84K tons, falling for the second consecutive year after two years of growth. In general, exports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 35% against the previous year. Over the period under review, the exports reached the peak figure at 109K tons in 2014; however, from 2015 to 2024, the exports failed to regain momentum.

In value terms, ball bearing exports contracted to $1.4B in 2024. Overall, exports saw a pronounced slump. The pace of growth was the most pronounced in 2021 with an increase of 38%. As a result, the exports reached the peak of $2B. From 2022 to 2024, the growth of the exports remained at a somewhat lower figure.

China represented the major exporter of ball bearings in the world, with the volume of exports resulting at 510K tons, which was near 38% of total exports in 2023. Thailand (286K tons) held the second position in the ranking, distantly followed by Germany (67K tons) and Italy (56K tons). All these countries together held approx. 31% share of total exports. The following exporters - the Netherlands (32K tons), South Korea (31K tons), France (29K tons), Poland (22K tons), Mexico (20K tons), Singapore (15K tons) and the United States (4.2K tons) - together made up 12% of total exports.

From 2013 to 2023, the biggest increases were recorded for Thailand (with a CAGR of +40.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest ball bearing supplying countries from Japan were China ($3.2B), Germany ($2B) and Italy ($848M), with a combined 42% share of total exports. The United States, France, the Netherlands, Thailand, South Korea, Singapore, Poland and Mexico lagged somewhat behind, together accounting for a further 26%.

In terms of the main exporting countries, Thailand, with a CAGR of +7.9%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

In 2023, the export price in Japan amounted to $16,578 per ton, reducing by -7.5% against the previous year. In general, the export price showed a mild reduction. The pace of growth was the most pronounced in 2020 an increase of 7.7%. Over the period under review, the export prices attained the peak figure at $19,538 per ton in 2013; however, from 2014 to 2023, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the United States ($193,362 per ton), while Thailand ($1,733 per ton) was amongst the lowest.

From 2013 to 2023, the most notable rate of growth in terms of prices was attained by the United States (+23.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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

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The Latest Trends and Insights into The Industry

The Largest Import Supplying Countries

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The Largest Producers on The Market and Their Profiles