China's Ball Bearings Market to Grow at 2.3% CAGR, Reaching $10.7B by 2035 - News and Statistics - IndexBox

Mar 07, 2025

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

The ball bearings market in China is poised for steady growth over the next decade, driven by rising demand. Market performance is forecasted to decelerate slightly, with a projected CAGR of +2.3% for both market volume and value from 2024 to 2035. By the end of 2035, the market is expected to reach a volume of 759K tons and a value of $10.7B in nominal prices.

Driven by increasing demand for ball bearings in China, 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 +2.3% for the period from 2024 to 2035, which is projected to bring the market volume to 759K tons by the end of 2035.

In value terms, the market is forecast to increase with an anticipated CAGR of +2.3% for the period from 2024 to 2035, which is projected to bring the market value to $10.7B (in nominal wholesale prices) by the end of 2035.

Ball bearing consumption in China totaled 592K tons in 2024, approximately equating the previous year's figure. The total consumption volume increased at an average annual rate of +3.3% over the period from 2013 to 2024; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, consumption hit record highs at 604K tons in 2022; however, from 2023 to 2024, consumption stood at a somewhat lower figure.

The size of the ball bearing market in China was estimated at $8.3B in 2024, therefore, remained relatively stable 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% from 2013 to 2024; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. Over the period under review, the market attained the maximum level at $9.3B in 2018; however, from 2019 to 2024, consumption failed to regain momentum.

Ball bearing production in China amounted to 1.1M tons in 2024, remaining relatively unchanged against the year before. Overall, production recorded buoyant growth. The most prominent rate of growth was recorded in 2019 when the production volume increased by 76%. Over the period under review, production attained the maximum volume at 1.1M tons in 2022; afterwards, it flattened through to 2024.

In value terms, ball bearing production totaled $14.4B in 2024 estimated in export price. Over the period under review, the total production indicated a strong expansion from 2013 to 2024: its value increased at an average annual rate of +5.5% 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 -0.9% against 2022 indices. The most prominent rate of growth was recorded in 2019 with an increase of 33% against the previous year. China production peaked at $14.5B in 2022; however, from 2023 to 2024, production remained at a lower figure.

For the third consecutive year, China recorded decline in overseas purchases of ball bearings, which decreased by -12.1% to 50K tons in 2024. Over the period under review, imports showed a slight curtailment. The most prominent rate of growth was recorded in 2019 when imports increased by 112%. As a result, imports attained the peak of 176K tons. From 2020 to 2024, the growth of imports remained at a lower figure.

In value terms, ball bearing imports shrank to $1.5B in 2024. Overall, total imports indicated a modest expansion from 2013 to 2024: its value increased at an average annual rate of +1.3% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, imports decreased by -30.9% against 2021 indices. The pace of growth was the most pronounced in 2021 with an increase of 36%. As a result, imports attained the peak of $2.1B. From 2022 to 2024, the growth of imports failed to regain momentum.

In 2023, Germany (113K tons), followed by the United States (63K tons) and Mexico (43K tons) were the main importers of ball bearings, together creating 24% of total imports. Italy (38K tons), the Netherlands (36K tons), Brazil (33K tons), Indonesia (31K tons), France (30K tons), South Korea (29K tons), the United Arab Emirates (23K tons) and Singapore (17K tons) took a little share of total imports.

From 2013 to 2023, the biggest increases were recorded for the United Arab Emirates (with a CAGR of +10.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($1.9B), the United States ($1.2B) and Mexico ($583M) appeared to be the countries with the highest levels of imports in 2023, with a combined 25% share of total imports.

Mexico, with a CAGR of +3.1%, recorded the highest growth rate of 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.

In 2023, the import price in China amounted to $27,660 per ton, increasing by 4.8% against the previous year. Overall, the import price showed pronounced growth. The most prominent rate of growth was recorded in 2020 when the import price increased by 189% against the previous year. Over the period under review, import prices hit record highs in 2023 and is likely to see gradual growth in years to come.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the United States ($18,327 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, the amount of ball bearings exported from China stood at 512K tons, approximately equating the year before. Over the period under review, exports posted prominent growth. The growth pace was the most rapid in 2019 when exports increased by 425% against the previous year. As a result, the exports reached the peak of 595K tons. From 2020 to 2024, the growth of the exports failed to regain momentum.

In value terms, ball bearing exports reduced modestly to $3.1B in 2024. Overall, total exports indicated a pronounced expansion from 2013 to 2024: its value increased at an average annual rate of +3.0% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, exports decreased by -14.5% against 2022 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 40% against the previous year. Over the period under review, the exports hit record highs at $3.6B in 2022; however, from 2023 to 2024, the exports remained at a lower figure.

The shipments of the three major exporters of ball bearings, namely Thailand, Singapore and the United States, represented more than 0.0% of total export. Japan (94K tons) held the next position in the ranking, followed by Germany (67K tons) and Italy (56K tons). All these countries together took approx. 16% share of total exports. The Netherlands (32K tons), South Korea (31K tons), France (29K tons), Poland (22K tons), Mexico (20K tons) and Taiwan (Chinese) (15K tons) followed a long way behind the leaders.

From 2013 to 2023, Thailand (+40.5%) constituted the fastest-growing ball bearing suppliers amongst the major ball bearing exporters. At the same time, exports of ball bearing from Singapore (-7.2%) and the United States (-17.7%) experienced a contraction from 2013 to 2023. At the same time, Mexico (+8.1%), the Netherlands (+3.4%), Taiwan (Chinese) (+3.3%) and Poland (+2.3%) displayed positive paces of growth. Italy, Japan and Germany experienced a relatively flat trend pattern. By contrast, South Korea (-2.2%) and France (-4.1%) illustrated a downward trend over the same period. Thailand (+20 p.p.) significantly strengthened its position in terms of the global exports, while South Korea, Singapore, Italy, the United States, France, Germany and Japan saw its share reduced by -3.4%, -3.5%, -3.8%, -4.1%, -4.4%, -5.4% and -6.6% from 2013 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest ball bearing supplying countries from China were Germany ($2B), Japan ($1.6B) and Italy ($848M), with a combined 30% share of total exports. The United States, France, the Netherlands, Thailand, South Korea, Singapore, Taiwan (Chinese), Poland and Mexico lagged somewhat behind, together comprising a further 28%.

Thailand, with a CAGR of +7.9%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

In 2023, the export price in China amounted to $6,359 per ton, shrinking by -6.7% against the previous year. In general, the export price showed a deep contraction. The most prominent rate of growth was recorded in 2020 an increase of 38%. The China export price peaked at $25,084 per ton in 2018; however, from 2019 to 2023, the export prices stood at a somewhat lower figure.

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 ($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 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.

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