Chile: Bearing Market 2024

Bearing Market Size in Chile

In 2022, the Chilean bearing market increased by X% to $X, rising for the second year in a row after two years of decline. The market value 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 in certain years. Bearing consumption peaked in 2022 and is likely to continue growth in years to come.

Bearing Production in Chile

In value terms, bearing production rose modestly to $X in 2022 estimated in export price. Overall, production showed a resilient increase. The pace of growth appeared the most rapid in 2015 with an increase of X% against the previous year. Bearing production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Bearing Exports

Exports from Chile

In 2022, bearing exports from Chile skyrocketed to X tons, increasing by X% on the previous year. In general, exports, however, recorded a deep downturn. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, bearing exports soared to $X in 2022. Overall, exports, however, showed a abrupt decline. 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

Peru (X tons), Argentina (X tons) and the United States (X tons) were the main destinations of bearing exports from Chile, with a combined X% share of total exports. Mexico, Norway, Australia, Canada, Bolivia and Ecuador lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the biggest increases were recorded for Norway (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for bearing exported from Chile were Peru ($X), Argentina ($X) and the United States ($X), with a combined X% share of total exports. Mexico, Norway, Bolivia, Australia, Canada and Ecuador lagged somewhat behind, together accounting for a further X%.

Norway, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average bearing export price amounted to $X per ton, waning by X% against the previous year. In general, the export price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 an increase of X%. As a result, the export price attained the peak level of $X per ton, and then fell in the following year.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Bolivia ($X per ton), while the average price for exports to the United States ($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 Bolivia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Bearing Imports

Imports into Chile

In 2022, purchases abroad of ball and roller bearings increased by X% to X tons, rising for the second consecutive year after two years of decline. The total import volume increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2015 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, bearing imports skyrocketed to $X in 2022. The total import value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. As a result, imports reached 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 bearing supplier to Chile, accounting for 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. Japan (X tons) ranked third in terms of total imports with an X% share.

From 2012 to 2022, the average annual growth rate of volume from the United States amounted to 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 ($X) constituted the largest supplier of ball and roller bearings to Chile, comprising X% of total imports. The second position in the ranking was taken by China ($X), with a X% share of total imports. It was followed by Germany, with an X% share.

From 2012 to 2022, the average annual growth rate of value from the United States totaled X%. 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

In 2022, the average bearing import price amounted to $X per ton, surging by X% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

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

Source: IndexBox Platform

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