Australia and Oceania: Bearing Market 2024

Bearing Market Size in Australia and Oceania

In 2022, the bearing market in Australia and Oceania increased by X% to $X, rising for the second consecutive year after two years of decline. In general, consumption recorded a relatively flat trend pattern. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Bearing Production in Australia and Oceania

In value terms, bearing production dropped markedly to $X in 2022 estimated in export price. Overall, production showed a significant curtailment. The pace of growth was the most pronounced in 2021 when the production volume increased by X,800% against the previous year. Over the period under review, production reached the maximum level at $X in 2013; however, from 2014 to 2022, production remained at a lower figure.

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Bearing Exports

Exports in Australia and Oceania

In 2022, bearing exports in Australia and Oceania shrank to X tons, which is down by X% compared with the previous year. Overall, exports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when exports increased by X%. As a result, the exports reached the peak of X tons, and then reduced in the following year.

In value terms, bearing exports stood at $X in 2022. Over the period under review, exports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of X%. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Australia dominates exports structure, finishing at X tons, which was near X% of total exports in 2022. It was distantly followed by New Zealand (X tons), mixing up a X% share of total exports.

Australia experienced a relatively flat trend pattern with regard to volume of exports of ball or roller bearings. New Zealand (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Australia increased by X percentage points.

In value terms, Australia ($X) remains the largest bearing supplier in Australia and Oceania, comprising X% of total exports. The second position in the ranking was held by New Zealand ($X), with an X% share of total exports.

In Australia, bearing exports remained relatively stable over the period from 2012-2022.

Export Prices by Country

The export price in Australia and Oceania stood at $X per ton in 2022, picking up by X% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was New Zealand ($X per ton), while Australia stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by New Zealand (X%).

Bearing Imports

Imports in Australia and Oceania

Bearing imports skyrocketed to X tons in 2022, rising by X% on 2021 figures. The total import volume increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, bearing imports surged to $X in 2022. In general, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, imports hit record highs in 2022 and are likely to see steady growth in the immediate term.

Imports by Country

Australia prevails in imports structure, finishing at X tons, which was approx. X% of total imports in 2022. It was distantly followed by New Zealand (X tons), mixing up a X% share of total imports. Papua New Guinea (X tons) followed a long way behind the leaders.

Imports into Australia increased at an average annual rate of X% from 2012 to 2022. At the same time, New Zealand (X%) and Papua New Guinea (X%) displayed positive paces of growth. Moreover, New Zealand emerged as the fastest-growing importer imported in Australia and Oceania, with a CAGR of X% from 2012-2022. New Zealand (X p.p.) significantly strengthened its position in terms of the total imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Australia ($X) constitutes the largest market for imported ball or roller bearings in Australia and Oceania, comprising X% of total imports. The second position in the ranking was held by New Zealand ($X), with a X% share of total imports.

In Australia, bearing imports remained relatively stable over the period from 2012-2022. In the other countries, the average annual rates were as follows: New Zealand (X% per year) and Papua New Guinea (X% per year).

Import Prices by Country

The import price in Australia and Oceania stood at $X per ton in 2022, flattening at the previous year. In general, the import price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 when the import price increased by X% against the previous year. As a result, import price attained the peak level of $X per ton. From 2020 to 2022, the import prices remained at a somewhat lower figure.

Average prices varied noticeably amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was New Zealand ($X per ton), while Australia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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