Australia and Oceania: Tapered Roller Bearing Market 2024

Tapered Roller Bearing Market Size in Australia and Oceania

In 2022, the tapered roller bearing market in Australia and Oceania increased by 48% to $X, rising for the seventh consecutive year after three years of decline. Over the period under review, consumption posted a moderate expansion. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Tapered Roller Bearing Production in Australia and Oceania

In value terms, tapered roller bearing production skyrocketed to $X in 2022 estimated in export price. Over the period under review, production, however, posted prominent growth. The most prominent rate of growth was recorded in 2014 with an increase of 1,641%. As a result, production attained the peak level of $X. From 2015 to 2022, production growth remained at a lower figure.

Tapered Roller Bearing Exports

Exports in Australia and Oceania

In 2022, shipments abroad of tapered roller bearings increased by 28% to X tons, rising for the second consecutive year after two years of decline. Total exports indicated a perceptible increase from 2012 to 2022: its volume increased at an average annual rate of +3.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +66.4% against 2020 indices. The pace of growth was the most pronounced in 2018 with an increase of 35% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in the near future.

In value terms, tapered roller bearing exports surged to $X in 2022. Over the period under review, exports showed a relatively flat trend pattern. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Australia dominates exports structure, accounting for X tons, which was approx. 98% of total exports in 2022. New Zealand (X tons) took a minor share of total exports.

Australia was also the fastest-growing in terms of the tapered roller bearings exports, with a CAGR of +4.1% from 2012 to 2022. New Zealand (-14.3%) illustrated a downward trend over the same period. While the share of Australia (+9.1 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of New Zealand (-8.9 p.p.) displayed negative dynamics.

In value terms, Australia ($X) remains the largest tapered roller bearing supplier in Australia and Oceania, comprising 98% of total exports. The second position in the ranking was taken by New Zealand ($X), with a 1.7% share of total exports.

In Australia, tapered roller bearing exports remained relatively stable over the period from 2012-2022.

Export Prices by Country

The export price in Australia and Oceania stood at $X per ton in 2022, picking up by 7.2% against the previous year. Over the period under review, the export price, however, saw a perceptible reduction. The pace of growth was the most pronounced in 2015 an increase of 27%. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

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 amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by New Zealand (+6.3%).

Tapered Roller Bearing Imports

Imports in Australia and Oceania

For the third year in a row, Australia and Oceania recorded growth in purchases abroad of tapered roller bearings, which increased by 63% to X tons in 2022. Overall, imports posted prominent growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, tapered roller bearing imports soared to $X in 2022. Total imports indicated notable growth from 2012 to 2022: its value increased at an average annual rate of +3.1% 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 +124.1% against 2016 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Australia dominates imports structure, reaching X tons, which was approx. 96% of total imports in 2022. New Zealand (X tons) held a relatively small share of total imports.

Australia was also the fastest-growing in terms of the tapered roller bearings imports, with a CAGR of +9.2% from 2012 to 2022. At the same time, New Zealand (+8.8%) displayed positive paces of growth. The shares of the largest importers remained relatively stable throughout the analyzed period.

In value terms, Australia ($X) constitutes the largest market for imported tapered roller bearings in Australia and Oceania, comprising 96% of total imports. The second position in the ranking was taken by New Zealand ($X), with a 3.5% share of total imports.

In Australia, tapered roller bearing imports increased at an average annual rate of +3.4% over the period from 2012-2022.

Import Prices by Country

In 2022, the import price in Australia and Oceania amounted to $X per ton, falling by -13.4% against the previous year. In general, the import price saw a deep slump. The most prominent rate of growth was recorded in 2015 an increase of 5.5%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (-5.3%).

Source: IndexBox Platform

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