
U.S. - Ball Bearings - Market Analysis, Forecast, Size, Trends And Insights
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U.S. Ball Bearing Imports Rebound After a Slump in 2020
IndexBox has just published a new report: 'U.S. - Ball Bearings - Market Analysis, Forecast, Size, Trends And Insights'. Here is a summary of the report's key findings.
In the first half of 2021, American ball bearing imports showed a sign of rebound, rising by +25% compared to the figures of the same period of 2020. The U.S. imports dramatically dropped from $1.3B in 2019 to $1B in 2020. China, Thailand and Japan, the leading suppliers of ball bearings to the U.S., saw a significant decrease in exports last year. The average ball bearing import price grew slightly by +2% y-o-y to $2 per unit in 2020.
The U.S. Ball Bearing Imports
In the first half of 2021, American ball bearing imports reached $642M, which was +25% more than the figures of the same period of 2020. Ball bearing imports into the U.S. shrank rapidly to 509M units in 2020, declining by -19.6% compared with 2019. In value terms, ball bearing imports dropped from $1.3B in 2019 to $1B (IndexBox estimates) in 2020.
In 2020, China (295M units) constituted the largest ball bearing supplier to the U.S., accounting for a 58% share of total imports. Moreover, ball bearing imports from China exceeded the figures recorded by the second-largest supplier, Thailand (43M units), sevenfold. Japan (41M units) ranked third in terms of total imports with an 8% share.
Last year, imports from China dropped by -13.8% y-o-y, while purchases from Thailand and Japan fell by -36.0% y-o-y and -32.3% y-o-y, respectively.
In value terms, the largest ball bearing suppliers to the U.S. were China ($291M), Japan ($222M) and Canada ($85M), together accounting for 58% of total imports. Germany, South Korea, Thailand, Taiwan (Chinese), Indonesia and Malaysia lagged somewhat behind, together accounting for a further 16%.
In 2020, the average ball bearing import price amounted to $2 per unit, with an increase of +2% against the previous year. Prices varied noticeably by the country of origin; the country with the highest price was Germany, while the price for Indonesia was amongst the lowest. In 2020, the most notable rate of growth in terms of prices was attained by Canada, while the prices for the other significant suppliers experienced more modest paces of growth.
Source: IndexBox Platform
This report provides an in-depth analysis of the ball bearing market in the U.S.. 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 2025.
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