Colombia: Ball Bearing Parts Market 2024

Ball Bearing Parts Market Size in Colombia

The Colombian ball bearing parts market contracted significantly to $X in 2022, reducing by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption saw a slight contraction. As a result, consumption reached the peak level of $X, and then fell significantly in the following year.

Ball Bearing Parts Exports

Exports from Colombia

In 2022, overseas shipments of parts of ball or roller bearings increased by X% to X tons, rising for the fourth consecutive year after two years of decline. In general, exports posted a resilient expansion. The growth pace was the most rapid in 2013 with an increase of X% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the immediate term.

In value terms, ball bearing parts exports dropped rapidly to $X in 2022. Overall, exports recorded a prominent increase. The pace of growth was the most pronounced in 2019 when exports increased by X% against the previous year. The exports peaked at $X in 2021, and then contracted markedly in the following year.

Exports by Country

Ecuador (X tons), the Dominican Republic (X tons) and Bolivia (X kg) were the main destinations of ball bearing parts exports from Colombia, together accounting for X% of total exports. The United States, Chile and Barbados lagged somewhat behind, together accounting for a further X%.

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

In value terms, the largest markets for ball bearing parts exported from Colombia were the Dominican Republic ($X), Ecuador ($X) and Chile ($X), with a combined X% share of total exports. The United States, Bolivia and Barbados lagged somewhat behind, together comprising a further X%.

Among the main countries of destination, Barbados, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average ball bearing parts export price stood at $X per ton in 2022, reducing by X% against the previous year. Overall, the export price recorded a pronounced setback. The most prominent rate of growth was recorded in 2015 when the average export price increased by X% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

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 Chile ($X per ton), while the average price for exports to Barbados ($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 Brazil (X%), while the prices for the other major destinations experienced more modest paces of growth.

Ball Bearing Parts Imports

Imports into Colombia

In 2022, approx. X tons of parts of ball or roller bearings were imported into Colombia; which is down by X% on the previous year's figure. Overall, imports saw a noticeable downturn. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. As a result, imports reached the peak of X tons, and then declined dramatically in the following year.

In value terms, ball bearing parts imports expanded slightly to $X in 2022. In general, imports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. Imports peaked at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

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

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

In value terms, the largest ball bearing parts suppliers to Colombia were the United States ($X), India ($X) and China ($X), with a combined X% share of total imports. Japan, Sweden, Taiwan (Chinese) and Romania lagged somewhat behind, together accounting for a further X%.

Romania, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average ball bearing parts import price stood at $X per ton in 2022, surging by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for China ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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