Australia: Bearing Market 2024

Bearing Market Size in Australia

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

Bearing Exports

Exports from Australia

In 2022, approx. X tons of ball or roller bearings were exported from Australia; waning by X% against 2021 figures. Over the period under review, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X%. As a result, the exports reached the peak of X tons, and then contracted in the following year.

In value terms, bearing exports totaled $X in 2022. In general, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when exports increased by X%. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

New Zealand (X tons) was the main destination for bearing exports from Australia, accounting for a X% share of total exports. Moreover, bearing exports to New Zealand exceeded the volume sent to the second major destination, the United States (X tons), threefold. The third position in this ranking was held by Papua New Guinea (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to New Zealand totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and Papua New Guinea (X% per year).

In value terms, New Zealand ($X) remains the key foreign market for ball or roller bearings exports from Australia, comprising X% of total exports. The second position in the ranking was held by the United States ($X), with an X% share of total exports. It was followed by Papua New Guinea, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to New Zealand was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and Papua New Guinea (X% per year).

Export Prices by Country

The average bearing export price stood at $X per ton in 2022, jumping by X% against the previous year. Overall, the export price, however, recorded a mild slump. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Madagascar ($X per ton), while the average price for exports to Belgium ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (X%), while the prices for the other major destinations experienced mixed trend patterns.

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Bearing Imports

Imports into Australia

In 2022, imports of ball or roller bearings into Australia skyrocketed to X tons, increasing by X% against 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 reached the peak and are likely to continue growth in the immediate term.

In value terms, bearing imports surged to $X in 2022. Over the period under review, imports saw a relatively flat trend pattern. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, the United States (X tons) constituted the largest supplier of bearing to Australia, with a X% share of total imports. Moreover, bearing imports from the United States exceeded the figures recorded by the second-largest supplier, China (X tons), twofold. The third position in this ranking was taken by Japan (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and Japan (X% per year).

In value terms, the United States ($X) constituted the largest supplier of ball or roller bearings to Australia, comprising X% of total imports. The second position in the ranking was held by China ($X), with an X% share of total imports. It was followed by Germany, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and Germany (X% per year).

Import Prices by Country

The average bearing import price stood at $X per ton in 2022, approximately mirroring the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2019 when the average import price increased by X% against the previous year. As a result, import price reached the peak level of $X per ton. From 2020 to 2022, the average import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Italy ($X per ton), while the price for South Korea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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