Australia and Oceania: Ball Bearing Parts Market 2022

Ball Bearing Parts Market Size in Australia and Oceania

The ball bearing parts market in Australia and Oceania surged to $X in 2021, with an increase of 78% against the previous year. The total consumption indicated a slight increase from 2012 to 2021: its value increased at an average annual rate of +1.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Ball Bearing Parts Production in Australia and Oceania

In value terms, ball bearing parts production dropped notably to $X in 2021 estimated in export price. Overall, production, however, enjoyed a resilient increase. The pace of growth appeared the most rapid in 2020 when the production volume increased by 411% against the previous year. As a result, production reached the peak level of $X, and then contracted dramatically in the following year.

Ball Bearing Parts Exports

Exports in Australia and Oceania

In 2021, shipments abroad of parts of ball or roller bearings increased by 14% to X tons, rising for the second consecutive year after four years of decline. Over the period under review, exports posted a perceptible increase. The most prominent rate of growth was recorded in 2020 with an increase of 112% against the previous year. The volume of export peaked in 2021 and is likely to continue growth in the immediate term.

In value terms, ball bearing parts exports expanded to $X in 2021. Total exports indicated a notable expansion from 2012 to 2021: its value increased at an average annual rate of +2.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +95.3% against 2019 indices. The pace of growth was the most pronounced in 2020 with an increase of 87% against the previous year. The level of export peaked in 2021 and is expected to retain growth in years to come.

Exports by Country

Australia prevails in exports structure, resulting at X tons, which was near 96% of total exports in 2021. New Zealand (X tons) followed a long way behind the leaders.

Australia was also the fastest-growing in terms of the parts of ball or roller bearings exports, with a CAGR of +3.7% from 2012 to 2021. New Zealand experienced a relatively flat trend pattern. From 2012 to 2021, the share of Australia increased by +1.7 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Australia ($X) remains the largest ball bearing parts supplier in Australia and Oceania, comprising 95% of total exports. The second position in the ranking was taken by New Zealand ($X), with a 4.5% share of total exports.

From 2012 to 2021, the average annual growth rate of value in Australia totaled +2.3%.

Export Prices by Country

The export price in Australia and Oceania stood at $X per ton in 2021, with a decrease of -8.3% against the previous year. In general, the export price continues to indicate a slight decline. The pace of growth was the most pronounced in 2015 when the export price increased by 38%. Over the period under review, the export prices attained the maximum at $X per ton in 2018; however, from 2019 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2021, the country with the highest price was New Zealand ($X per ton), while Australia amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by New Zealand (+1.7%).

Ball Bearing Parts Imports

Imports in Australia and Oceania

In 2021, ball bearing parts imports in Australia and Oceania skyrocketed to X tons, with an increase of 63% on the year before. Total imports indicated a modest increase from 2012 to 2021: its volume increased at an average annual rate of +1.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, imports attained the maximum at X tons in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

In value terms, ball bearing parts imports soared to $X in 2021. Total imports indicated slight growth from 2012 to 2021: its value increased at an average annual rate of +1.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Australia dominates imports structure, accounting for X tons, which was approx. 85% of total imports in 2021. It was distantly followed by New Zealand (X tons), mixing up a 9.5% share of total imports. Fiji (X tons) and Papua New Guinea (X tons) took a minor share of total imports.

Australia experienced a relatively flat trend pattern with regard to volume of imports of parts of ball or roller bearings. At the same time, Fiji (+10.8%) and New Zealand (+8.7%) displayed positive paces of growth. Moreover, Fiji emerged as the fastest-growing importer imported in Australia and Oceania, with a CAGR of +10.8% from 2012-2021. By contrast, Papua New Guinea (-2.2%) illustrated a downward trend over the same period. From 2012 to 2021, the share of New Zealand and Fiji increased by +4.6 and +1.6 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Australia ($X) constitutes the largest market for imported parts of ball or roller bearings in Australia and Oceania, comprising 85% of total imports. The second position in the ranking was taken by New Zealand ($X), with an 11% share of total imports. It was followed by Papua New Guinea, with a 2% share.

In Australia, ball bearing parts imports expanded at an average annual rate of +1.2% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: New Zealand (+5.5% per year) and Papua New Guinea (-6.0% per year).

Import Prices by Country

In 2021, the import price in Australia and Oceania amounted to $X per ton, with an increase of 4.3% against the previous year. In general, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 16%. The level of import peaked at $X per ton in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Papua New Guinea ($X per ton), while Fiji ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Australia (+1.0%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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