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% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in the immediate term.

Bearing Production in Latin America and the Caribbean

In value terms, bearing production reduced slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2015 when the production volume increased by X%. Over the period under review, production hit record highs 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

In 2022, overseas shipments of ball or roller bearings increased by X% to X tons, rising for the second consecutive year after six years of decline. In general, exports, however, showed a abrupt curtailment. The growth pace was the most rapid in 2021 when exports increased by X% against the previous year. The volume of export peaked at X tons in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, bearing exports surged to $X in 2022. Overall, exports, however, recorded a deep contraction. The level of export peaked at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

In 2022, Mexico (X tons) represented the major exporter of ball or roller bearings, committing X% of total exports. It was distantly followed by Brazil (X tons), Argentina (X tons) and Panama (X tons), together comprising a X% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to bearing exports from Mexico stood at X%. Brazil (X%), Argentina (X%) and Panama (X%) illustrated a downward trend over the same period. While the share of Brazil (X p.p.) and Mexico (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) constituted the countries with the highest levels of exports in 2022, together comprising X% of total exports. These countries were followed by Argentina, which accounted for a further X%.

Argentina, with a CAGR of X%, recorded the highest growth rate of the value of exports, among the main exporting countries 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 recorded a relatively flat trend pattern. The growth pace was the most rapid in 2015 when the export price increased by X% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2019; however, from 2020 to 2022, the export prices failed to regain momentum.

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

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

Bearing Imports

Imports in Latin America and the Caribbean

In 2022, supplies from abroad of ball or roller bearings increased by X% to X tons, rising for the second year in a row after two years of decline. Total imports indicated a pronounced increase from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. The volume of import peaked in 2022 and is likely to continue growth in the near future.

In value terms, bearing imports skyrocketed to $X in 2022. The total import 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. The most prominent rate of growth was recorded in 2021 when imports increased by X%. Over the period under review, imports reached the maximum in 2022 and are likely to continue growth in years to come.

Imports by Country

Brazil (X tons) and Mexico (X tons) dominates imports structure, together achieving X% of total imports. It was distantly followed by Argentina (X tons), committing a X% share of total imports. The following importers - Colombia (X tons), Bolivia (X tons), Chile (X tons) and Peru (X tons) - together made up X% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Bolivia (with a CAGR of X%), while imports 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.

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

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per ton in 2022, rising by X% against the previous year. Over the period under review, the import price, however, continues to indicate a mild contraction. The pace of growth appeared the most rapid in 2014 when the import price increased by X%. The level of import peaked at $X per ton in 2015; however, from 2016 to 2022, import prices stood at a somewhat lower figure.

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 Mexico (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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