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% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Bearing Production in Chile

In value terms, bearing production amounted to $X in 2022 estimated in export price. Overall, production recorded prominent growth. The most prominent rate of growth was recorded in 2015 when the production volume increased by X%. Bearing production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

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Bearing Exports

Exports from Chile

In 2022, approx. X tons of ball or roller bearings were exported from Chile; jumping by X% on the previous year's figure. Over the period under review, exports, however, continue to indicate a deep setback. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, bearing exports skyrocketed to $X in 2022. In general, exports, however, saw a abrupt contraction. Over the period under review, the exports attained the maximum 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 accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Norway (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Peru ($X), Argentina ($X) and the United States ($X) appeared to be the largest markets for bearing exported from Chile worldwide, together comprising X% 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%, saw the highest rates of growth with regard to the value of exports, among 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, falling by X% against the previous year. Over the period under review, the export price saw a slight shrinkage. The most prominent rate of growth was recorded in 2021 when the average export price increased by X%. As a result, the export price attained the peak level of $X per ton, and then shrank dramatically in the following year.

There were significant differences in the average prices for the major external 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, overseas purchases of ball or 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% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2015 with an increase of X%. Imports peaked in 2022 and are likely to see steady growth in years to come.

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 indicated some noticeable fluctuations being recorded in certain years. 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 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. Germany (X tons) ranked third in terms of total imports with an X% share.

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

In value terms, the United States ($X) constituted the largest supplier of ball or roller bearings to Chile, comprising X% of total imports. The second position in the ranking was held by China ($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 amounted to 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

The average bearing import price stood at $X per ton in 2022, surging by X% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of X%. Over the period under review, average import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Austria ($X per ton) and Sweden ($X per ton), while the price for Romania ($X per ton) and India ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform

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