Australia and Oceania: Needle Roller Bearing Market 2024

Needle Roller Bearing Market Size in Australia and Oceania

The needle roller bearing market in Australia and Oceania declined to $X in 2022, falling by -5.4% against the previous year. Overall, consumption, however, showed a relatively flat trend pattern. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Needle Roller Bearing Production in Australia and Oceania

In value terms, needle roller bearing production contracted slightly to $X in 2022 estimated in export price. In general, production showed a noticeable decline. The most prominent rate of growth was recorded in 2018 when the production volume increased by 27% against the previous year. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Needle Roller Bearing Exports

Exports in Australia and Oceania

In 2022, approx. X tons of needle roller bearings were exported in Australia and Oceania; picking up by 53% compared with 2021. In general, exports posted a measured expansion. The pace of growth appeared the most rapid in 2013 when exports increased by 151% against the previous year. As a result, the exports reached the peak of X tons. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, needle roller bearing exports surged to $X in 2022. Overall, exports recorded a buoyant expansion. The most prominent rate of growth was recorded in 2013 when exports increased by 297% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Australia was the key exporter of needle roller bearings in Australia and Oceania, with the volume of exports reaching X tons, which was near 79% of total exports in 2022. It was distantly followed by New Zealand (X tons), comprising a 21% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to needle roller bearing exports from Australia stood at +1.9%. At the same time, New Zealand (+10.3%) displayed positive paces of growth. Moreover, New Zealand emerged as the fastest-growing exporter exported in Australia and Oceania, with a CAGR of +10.3% from 2012-2022. From 2012 to 2022, the share of New Zealand increased by +10 percentage points.

In value terms, Australia ($X) remains the largest needle roller bearing supplier in Australia and Oceania, comprising 79% of total exports. The second position in the ranking was held by New Zealand ($X), with a 21% share of total exports.

In Australia, needle roller bearing exports increased at an average annual rate of +10.2% over the period from 2012-2022.

Export Prices by Country

The export price in Australia and Oceania stood at $X per ton in 2022, leveling off at the previous year. Export price indicated strong growth from 2012 to 2022: its price increased at an average annual rate of +5.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, needle roller bearing export price decreased by -17.5% against 2018 indices. The most prominent rate of growth was recorded in 2013 an increase of 58%. The level of export peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was New Zealand ($X per ton), while Australia totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+8.1%).

Needle Roller Bearing Imports

Imports in Australia and Oceania

In 2022, approx. X tons of needle roller bearings were imported in Australia and Oceania; picking up by 7.6% against the year before. Overall, imports, however, recorded a slight contraction. The most prominent rate of growth was recorded in 2014 when imports increased by 26%. Over the period under review, imports hit record highs at X tons in 2016; however, from 2017 to 2022, imports remained at a lower figure.

In value terms, needle roller bearing imports reduced to $X in 2022. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 with an increase of 18% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

Australia represented the largest importer of needle roller bearings in Australia and Oceania, with the volume of imports amounting to X tons, which was near 79% of total imports in 2022. It was distantly followed by New Zealand (X tons), making up a 19% share of total imports.

Imports into Australia decreased at an average annual rate of -3.2% from 2012 to 2022. At the same time, New Zealand (+12.6%) displayed positive paces of growth. Moreover, New Zealand emerged as the fastest-growing importer imported in Australia and Oceania, with a CAGR of +12.6% from 2012-2022. New Zealand (+14 p.p.) significantly strengthened its position in terms of the total imports, while Australia saw its share reduced by -14.2% from 2012 to 2022, respectively.

In value terms, Australia ($X) constitutes the largest market for imported needle roller bearings in Australia and Oceania, comprising 78% of total imports. The second position in the ranking was held by New Zealand ($X), with a 19% share of total imports.

From 2012 to 2022, the average annual growth rate of value in Australia totaled -1.6%.

Import Prices by Country

The import price in Australia and Oceania stood at $X per ton in 2022, reducing by -12.8% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of 26%. Over the period under review, import prices reached the peak figure at $X per ton in 2021, and then reduced in the following year.

Average prices varied noticeably amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Australia ($X per ton), while New Zealand amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+1.7%).

Source: IndexBox Platform

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