Australia: Ball Bearing Market 2024

Ball Bearing Market Size in Australia

The Australian ball bearing market shrank significantly to $X in 2021, waning by -28% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption recorded a dramatic descent. Ball bearing consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Ball Bearing Exports

Exports from Australia

In 2021, after four years of decline, there was significant growth in shipments abroad of ball bearings, when their volume increased by 50% to X tons. Over the period under review, total exports indicated temperate growth from 2012 to 2021: its volume increased at an average annual rate of +2.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the exports reached the peak figure at X tons in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

In value terms, ball bearing exports skyrocketed to $X in 2021. Overall, total exports indicated temperate growth from 2012 to 2021: its value increased at an average annual rate of +4.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Madagascar (X tons), New Zealand (X tons) and Papua New Guinea (X tons) were the main destinations of ball bearing exports from Australia, with a combined 80% share of total exports. These countries were followed by the United States, Indonesia, Canada, Italy and China, which together accounted for a further 9.4%.

From 2012 to 2021, the biggest increases were recorded for Italy (with a CAGR of +98.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for ball bearing exported from Australia were Madagascar ($X), New Zealand ($X) and Papua New Guinea ($X), with a combined 80% share of total exports. These countries were followed by the United States, Indonesia, Canada, Italy and China, which together accounted for a further 9%.

Among the main countries of destination, Italy, with a CAGR of +49.4%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average ball bearing export price stood at $X per ton in 2021, with an increase of 11% against the previous year. In general, export price indicated mild growth from 2012 to 2021: its price increased at an average annual rate of +1.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, ball bearing export price increased by +137.9% against 2016 indices. The most prominent rate of growth was recorded in 2017 when the average export price increased by 33%. The export price peaked in 2021 and is expected to retain growth in the immediate term.

Prices varied noticeably country of destination: the country with the highest price was China ($X per ton), while the average price for exports to Italy ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to China (+9.9%), while the prices for the other major destinations experienced mixed trend patterns.

Ball Bearing Imports

Imports into Australia

In 2021, overseas purchases of ball bearings were finally on the rise to reach X tons after three years of decline. Overall, imports, however, faced a significant contraction. The pace of growth appeared the most rapid in 2017 with an increase of 24% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, ball bearing imports expanded sharply to $X in 2021. In general, imports, however, showed a sharp slump. The most prominent rate of growth was recorded in 2014 with an increase of 15%. Imports peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

China (X tons), the United States (X tons) and Japan (X tons) were the main suppliers of ball bearing imports to Australia, together accounting for 70% of total imports. Germany, France, South Korea and Canada lagged somewhat behind, together comprising a further 18%.

From 2012 to 2021, the biggest increases were recorded for Canada (with a CAGR of -0.1%), while purchases for the other leaders experienced a decline.

In value terms, China ($X), the United States ($X) and Japan ($X) were the largest ball bearing suppliers to Australia, with a combined 65% share of total imports. These countries were followed by Germany, France, Canada and South Korea, which together accounted for a further 19%.

Canada, with a CAGR of -4.3%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average ball bearing import price stood at $X per ton in 2021, approximately mirroring the previous year. Overall, the import price continues to indicate a resilient expansion. The growth pace was the most rapid in 2018 an increase of 50% against the previous year. The import price peaked in 2021 and is expected to retain growth in the immediate term.

Prices varied noticeably country of origin: the country with the highest price was France ($X per ton), while the price for South Korea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+12.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :