Thailand Bearings Market (2023-2029) | Industry, Trends, Analysis, Growth, Forecast, Value, Outlook, Share, Size, Segmentation & COVID-19 IMPACT

Thailand Bearings Market - Export Market Opportunities

In the year 2021, the Netherlands was the largest exporter in terms of value, followed by Japan. It has registered a growth of 667.11% over the previous year. While Japan registered a growth of 136.06% as compared to the previous year. In the year 2017, China was the largest exporter followed by Japan. In terms of Herfindahl Index, which measures the competitiveness of countries exporting, Thailand has a Herfindahl index of 3789 in 2017 which signifies high concentration also in 2021 it registered a Herfindahl index of  2392 which signifies moderately concentrated in the market.

Thailand Bearings Market - Export Market Opportunities

Topics Covered in Thailand Bearings Market Report

The Thailand Bearings Market report thoroughly covers the market by product and application. The report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.

Thailand Bearings Market Synopsis

The Thailand Bearings Market is estimated to attain major success during the forecast period attributed to the growing manufacturing sector of the country, that demands high-quality bearings for equipment and machinery. Since the country positions itself as a hub for Southeast Asia's automotive market, the demand for bearings is projected to rise more.

According to 6Wresearch, Thailand Bearings Market size is projected to rise exponentially during 2023-2029. The sector is attaining enormous growth and it is ready to accomplish more success in the near future owing to the way it has been working by meeting the most prominent needs of huge industries of the country such as aerospace, automotive, and manufacturing. The demand for bearings is rising significantly from these huge sectors, which effectively helps in stimulating the Thailand Bearings Market Growth. The sector has become one of the most essential sectors in the market and it will keep maintaining its significance in the country. There is a rising demand for high-quality bearings for machinery and equipment. Automotive is a huge consumer of bearings and the success of the automotive sector increases the sales of bearings, which supports the Bearings Market in Thailand. There are certain challenges confronting the market and one of the huge challenges is the stiff competition from the international manufacturers that offer lower-priced as compared to local manufacturers. Advancements in technology in other parts of the globe pose another challenge on the market since manufacturers require to keep up with the transforming preferences and demands of consumers while preserving product quality.

COVID-19 Impact on Thailand Bearings Market

The coronavirus pandemic outbreak had a key impact on the Thailand Bearings Industry. The lockdown imposed on the country led to the closure of factors and businesses which caused a decline in demand for these bearings owing to decreased production activities. Due to this, manufacturers had to slow down and even halt their operations. Disruption in the supply chain was the biggest challenge faced by the markets in the country. Attributed to the restrictions on the supply chain, the manufacturers faced difficulties in the availability of raw materials as well as finished products needed for the manufacturing of bearings. These obstacles resulted in hikes in costs and delays in deliveries of prominent components. The market for bearings faced many challenges during the pandemic even the Asia Pacific Bearings Market confronted many challenges.

Key Players in Thailand Bearings Market

Players in the market play the most crucial role in the success of the market. Numerous players exist in the market but only a few players are running smoothly and helping the market to progress effortlessly. The prominent market players include NTN Corporation, Timken Company, SKF AB, Schaeffler AG, and NSK Ltd. These players are maintaining their position in the industry by offering innovative solutions and high-quality bearings which meet the requirements of their customers. These players are also investing in research and development programs in order to stay ahead of the growing competition in the market.

Market by Product

By product type, the Bearings Market in Thailand is bifurcated into Ball Bearings and Roller Bearings. It is expected that the roller bearings segment will rise in the market owing to the current growth of this segment in the market.

Market by Application

According to Dhaval, Research Manager, 6Wresearch, the automotive segment will succeed in the market since it has become the most significant consumer of bearings in the market and it will retain this dominant position in the years to come.

Key Attractiveness of the Report

• COVID-19 Impact on the Market.
• 10 Years Market Numbers.
• Historical Data Starting from 2019 to 2022.
• Base Year: 2022.
• Forecast Data until 2029.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report:

• Thailand Bearings Market Outlook
• Market Size of Thailand Bearings Market, 2022
• Forecast of Thailand Bearings Market, 2029
• Historical Data and Forecast of Thailand Bearings Revenues & Volume for the Period 2019 - 2029
• Thailand Bearings Market Trend Evolution
• Thailand Bearings Market Drivers and Challenges
• Thailand Bearings Price Trends
• Thailand Bearings Porter's Five Forces
• Thailand Bearings Industry Life Cycle
• Historical Data and Forecast of Thailand Bearings Market Revenues & Volume By Product for the Period 2019 - 2029
• Historical Data and Forecast of Thailand Bearings Market Revenues & Volume By Ball Bearings for the Period 2019 - 2029
• Historical Data and Forecast of Thailand Bearings Market Revenues & Volume By Roller Bearings for the Period 2019 - 2029
• Historical Data and Forecast of Thailand Bearings Market Revenues & Volume By Application for the Period 2019 - 2029
• Historical Data and Forecast of Thailand Bearings Market Revenues & Volume By Automotive for the Period 2019 - 2029
• Historical Data and Forecast of Thailand Bearings Market Revenues & Volume By Agriculture for the Period 2019 - 2029
• Historical Data and Forecast of Thailand Bearings Market Revenues & Volume By Electrical for the Period 2019 - 2029
• Historical Data and Forecast of Thailand Bearings Market Revenues & Volume By Mining & Construction for the Period 2019 - 2029
• Historical Data and Forecast of Thailand Bearings Market Revenues & Volume By Railway & Aerospace for the Period 2019 - 2029
• Historical Data and Forecast of Thailand Bearings Market Revenues & Volume By Automotive Aftermarket for the Period 2019 - 2029
• Historical Data and Forecast of Thailand Bearings Market Revenues & Volume By Others for the Period 2019 - 2029
• Thailand Bearings Import Export Trade Statistics
• Market Opportunity Assessment By Product
• Market Opportunity Assessment By Application
• Thailand Bearings Top Companies Market Share
• Thailand Bearings Competitive Benchmarking By Technical and Operational Parameters
• Thailand Bearings Company Profiles
• Thailand Bearings Key Strategic Recommendations

Market Scope and Segmentation

Thereportprovides a detailed analysis of the following market segments:

By Product

• Ball Bearings
• Roller Bearings

By Application

• Automotive
• Agriculture
• Electrical
• Mining & Construction
• Railway & Aerospace
• Automotive Aftermarket
• Others