Australia and Oceania: Roller Bearing Market 2022

Roller Bearing Market Size in Australia and Oceania

In 2021, the roller bearing market in Australia and Oceania decreased by -8.4% to $X for the first time since 2017, thus ending a three-year rising trend. Over the period under review, consumption, however, showed a pronounced increase. Over the period under review, the market attained the peak level at $X in 2020, and then dropped in the following year.

Roller Bearing Production in Australia and Oceania

In value terms, roller bearing production fell remarkably to $X in 2021 estimated in export price. Overall, production, however, enjoyed resilient growth. The pace of growth appeared the most rapid in 2019 with an increase of 63% against the previous year. The level of production peaked at $X in 2020, and then declined significantly in the following year.

Roller Bearing Exports

Exports in Australia and Oceania

In 2021, shipments abroad of roller bearings increased by 33% to X tons for the first time since 2017, thus ending a three-year declining trend. Over the period under review, exports, however, saw a deep setback. The volume of export peaked at X tons in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

In value terms, roller bearing exports soared to $X in 2021. In general, exports, however, continue to indicate a perceptible setback. The pace of growth appeared the most rapid in 2017 with an increase of 33%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Australia was the main exporting country with an export of about X tons, which amounted to 74% of total exports. It was distantly followed by New Zealand (X tons), committing a 26% share of total exports.

Exports from Australia decreased at an average annual rate of -8.5% from 2012 to 2021. New Zealand (-4.3%) illustrated a downward trend over the same period. New Zealand (+6.9 p.p.) significantly strengthened its position in terms of the total exports, while Australia saw its share reduced by -7.1% from 2012 to 2021, respectively.

In value terms, Australia ($X) remains the largest roller bearing supplier in Australia and Oceania, comprising 73% of total exports. The second position in the ranking was taken by New Zealand ($X), with a 26% share of total exports.

From 2012 to 2021, the average annual growth rate of value in Australia amounted to -4.5%.

Export Prices by Country

The export price in Australia and Oceania stood at $X per ton in 2021, which is down by -6.7% against the previous year. Overall, the export price, however, showed a prominent increase. The growth pace was the most rapid in 2018 when the export price increased by 28% against the previous year. The level of export peaked at $X per ton in 2020, and then declined in the following year.

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 totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by New Zealand (+11.8%).

Roller Bearing Imports

Imports in Australia and Oceania

In 2021, purchases abroad of roller bearings was finally on the rise to reach X tons for the first time since 2017, thus ending a three-year declining trend. Overall, imports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of 129%. Over the period under review, imports reached the peak figure at X tons in 2015; however, from 2016 to 2021, imports remained at a lower figure.

In value terms, roller bearing imports surged to $X in 2021. Over the period under review, imports, however, saw a mild downturn. The most prominent rate of growth was recorded in 2017 with an increase of 117% against the previous year. As a result, imports reached the peak of $X. From 2018 to 2021, the growth of imports remained at a lower figure.

Imports by Country

Australia was the main importing country with an import of about X tons, which accounted for 63% of total imports. It was distantly followed by New Zealand (X tons), achieving a 29% share of total imports. Fiji (X tons) and Papua New Guinea (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to roller bearing imports into Australia stood at -2.7%. At the same time, Fiji (+12.7%) and New Zealand (+11.2%) displayed positive paces of growth. Moreover, Fiji emerged as the fastest-growing importer imported in Australia and Oceania, with a CAGR of +12.7% from 2012-2021. By contrast, Papua New Guinea (-1.2%) illustrated a downward trend over the same period. New Zealand (+17 p.p.) and Fiji (+2.6 p.p.) significantly strengthened its position in terms of the total imports, while Australia saw its share reduced by -19.6% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Australia ($X) constitutes the largest market for imported roller bearings in Australia and Oceania, comprising 62% of total imports. The second position in the ranking was taken by New Zealand ($X), with a 30% share of total imports. It was followed by Fiji, with a 3.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Australia totaled -4.8%. The remaining importing countries recorded the following average annual rates of imports growth: New Zealand (+10.3% per year) and Fiji (+12.2% per year).

Import Prices by Country

In 2021, the import price in Australia and Oceania amounted to $X per ton, with a decrease of -14.2% against the previous year. In general, the import price saw a slight contraction. The pace of growth appeared the most rapid in 2020 an increase of 20% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Average prices varied noticeably amongst the major importing countries. In 2021, major importing countries recorded the following prices: in New Zealand ($X per ton) and Fiji ($X per ton), while Papua New Guinea ($X per ton) and Australia ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Papua New Guinea (+1.1%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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