U.S.: Bearing Market 2024

Bearing Market Size in the U.S.

The U.S. bearing market expanded markedly to $X in 2022, growing by X% against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. Over the period under review, the market reached the maximum level in 2022 and is expected to retain growth in years to come.

Bearing Production in the U.S.

In value terms, bearing production declined modestly to $X in 2022. Over the period under review, production showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 with an increase of X%. As a result, production attained the peak level of $X. From 2015 to 2022, production growth remained at a lower figure.

Bearing Exports

Exports from the U.S.

In 2022, shipments abroad of ball and roller bearings increased by X% to X tons for the first time since 2017, thus ending a four-year declining trend. Overall, exports, however, showed a drastic downturn. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. As a result, the exports reached the peak of X tons. From 2018 to 2022, the growth of the exports remained at a lower figure.

In value terms, bearing exports soared to $X in 2022. In general, exports saw modest growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Mexico (X tons) was the main destination for bearing exports from the United States, accounting for a X% share of total exports. Moreover, bearing exports to Mexico exceeded the volume sent to the second major destination, Canada (X tons), twofold. The third position in this ranking was held by France (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Mexico stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (X% per year) and France (X% per year).

In value terms, the largest markets for bearing exported from the United States were Mexico ($X), Canada ($X) and China ($X), with a combined X% share of total exports. Germany, France, Australia, Brazil, Singapore, the UK, South Korea, Chile, India and South Africa lagged somewhat behind, together accounting for a further X%.

Chile, 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

The average bearing export price stood at $X per ton in 2022, increasing by X% against the previous year. Overall, the export price enjoyed a buoyant increase. The most prominent rate of growth was recorded in 2020 an increase of X% against the previous year. Over the period under review, the average export prices attained the peak figure in 2022 and is expected to retain growth in the near future.

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

Bearing Imports

Imports into the U.S.

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% 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%. Imports peaked at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, bearing imports amounted to $X in 2022. The total import value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The pace of growth was the most pronounced in 2021 when imports increased by X% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, China (X tons) constituted the largest bearing supplier to the United States, accounting for a X% share of total imports. Moreover, bearing imports from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), twofold. The third position in this ranking was taken by South Korea (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (X% per year) and South Korea (X% per year).

In value terms, Japan ($X), China ($X) and Germany ($X) were the largest bearing suppliers to the United States, with a combined X% share of total imports. Canada, South Korea, India, Mexico, Romania, Thailand and Taiwan (Chinese) lagged somewhat behind, together accounting for a further X%.

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

Import Prices by Country

In 2022, the average bearing import price amounted to $X per ton, with a decrease of X% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 when the average import price increased by X% against the previous year. The import price peaked at $X per ton in 2020; however, from 2021 to 2022, import prices remained at a lower figure.

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

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

Source: IndexBox Platform

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