Latin America and the Caribbean: Bearing Market 2024

Bearing Market Size in Latin America and the Caribbean

In 2022, the Latin American 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; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The level of consumption peaked in 2022 and is likely to see gradual growth in the immediate term.

Bearing Production in Latin America and the Caribbean

In value terms, bearing production shrank modestly to $X in 2022 estimated in export price. Over the period under review, production, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 with an increase of X% against the previous year. Over the period under review, production attained the maximum level at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Bearing Exports

Exports in Latin America and the Caribbean

Bearing exports reduced to X tons in 2022, waning by X% compared with the previous year's figure. Over the period under review, exports continue to indicate a perceptible downturn. The pace of growth was the most pronounced in 2021 when exports increased by X%. Over the period under review, the exports attained the peak figure at X tons in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, bearing exports stood at $X in 2022. Overall, exports showed a noticeable decrease. The level of export peaked at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Mexico represented the main exporting country with an export of about X tons, which amounted to X% of total exports. It was distantly followed by Brazil (X tons), Panama (X tons) and Argentina (X tons), together committing a X% share of total exports. Guatemala (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to bearing exports from Mexico stood at X%. At the same time, Guatemala (X%) displayed positive paces of growth. Moreover, Guatemala emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of X% from 2012-2022. By contrast, Brazil (X%), Argentina (X%) and Panama (X%) illustrated a downward trend over the same period. While the share of Guatemala (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Panama (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X), Brazil ($X) and Panama ($X) were the countries with the highest levels of exports in 2022, together comprising X% of total exports. Argentina and Guatemala lagged somewhat behind, together accounting for a further X%.

Among the main exporting countries, Guatemala, 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 a decline in the exports figures.

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2022, growing by X% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2016 when the export price increased by X%. Over the period under review, the export prices reached the maximum at $X per ton in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.

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

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

Bearing Imports

Imports in Latin America and the Caribbean

In 2022, purchases abroad of ball and roller bearings increased by X% to X tons, rising for the second year in a row 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 pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. The volume of import peaked in 2022 and is likely to see steady growth in the immediate term.

In value terms, bearing imports rose notably 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 throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. The level of import peaked in 2022 and is likely to see steady growth in the near future.

Imports by Country

Mexico (X tons) and Brazil (X tons) dominates imports structure, together mixing up X% of total imports. It was distantly followed by Argentina (X tons), making up a X% share of total imports. Colombia (X tons), Bolivia (X tons), Peru (X tons) and Chile (X tons) held a minor share of total imports.

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

In value terms, the largest bearing importing markets in Latin America and the Caribbean were Mexico ($X), Brazil ($X) and Argentina ($X), with a combined X% share of total imports.

In terms of the main importing countries, Mexico, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Latin America and the Caribbean amounted to $X per ton, surging by X% against the previous year. Over the period under review, the import price, however, saw a slight contraction. Over the period under review, import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Chile ($X per ton), while Bolivia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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