Australia: Bearing Market 2024

Bearing Market Size in Australia

The Australian bearing market surged to $X in 2022, picking up by X% 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). Over the period under review, consumption continues to indicate a relatively flat trend pattern. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Bearing Exports

Exports from Australia

In 2022, exports of ball or roller bearings from Australia shrank to X tons, reducing by X% on the year before. In general, exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. As a result, the exports reached the peak of X tons, and then declined in the following year.

In value terms, bearing exports totaled $X in 2022. Overall, exports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when exports increased by X%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

New Zealand (X tons) was the main destination for bearing exports from Australia, with a X% share of total exports. Moreover, bearing exports to New Zealand exceeded the volume sent to the second major destination, the United States (X tons), threefold. Papua New Guinea (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to New Zealand totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and Papua New Guinea (X% per year).

In value terms, New Zealand ($X) remains the key foreign market for ball or roller bearings exports from Australia, comprising X% of total exports. The second position in the ranking was taken by the United States ($X), with an X% share of total exports. It was followed by Papua New Guinea, with a X% share.

From 2012 to 2022, the average annual growth rate of value to New Zealand was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and Papua New Guinea (X% per year).

Export Prices by Country

In 2022, the average bearing export price amounted to $X per ton, rising by X% against the previous year. Over the period under review, the export price, however, saw a mild setback. The pace of growth was the most pronounced in 2017 an increase of X%. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Madagascar ($X per ton), while the average price for exports to Belgium ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (X%), while the prices for the other major destinations experienced mixed trend patterns.

Bearing Imports

Imports into Australia

Bearing imports into Australia skyrocketed to X tons in 2022, surging by X% against the previous year's figure. In general, imports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of X%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, bearing imports surged to $X in 2022. Overall, imports saw a relatively flat trend pattern. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, the United States (X tons) constituted the largest supplier of bearing to Australia, with a X% share of total imports. Moreover, bearing imports from the United States exceeded the figures recorded by the second-largest supplier, China (X tons), threefold. Japan (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and Japan (X% per year).

In value terms, the United States ($X) constituted the largest supplier of ball or roller bearings to Australia, comprising X% of total imports. The second position in the ranking was held by China ($X), with an X% share of total imports. It was followed by Germany, with a X% share.

From 2012 to 2022, the average annual growth rate of value from the United States was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and Germany (X% per year).

Import Prices by Country

The average bearing import price stood at $X per ton in 2022, growing by X% against the previous year. Overall, the import price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the average import price increased by X%. The import price peaked in 2022 and is likely to see steady growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Italy ($X per ton), while the price for South Korea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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