Australia: Tools For Bearing Market 2024

Tools For Bearing Market Size in Australia

The Australian tools for bearing market stood at $X in 2022, picking up by 1.7% 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, however, saw a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2012; afterwards, it flattened through to 2022.

Tools For Bearing Exports

Exports from Australia

Tools for bearing exports from Australia reduced sharply to X tons in 2022, dropping by -50.6% on the previous year. In general, exports, however, posted pronounced growth. The growth pace was the most rapid in 2019 with an increase of 110%. Over the period under review, the exports reached the peak figure at X tons in 2021, and then plummeted in the following year.

In value terms, tools for bearing exports reduced remarkably to $X in 2022. Overall, exports showed a pronounced curtailment. The most prominent rate of growth was recorded in 2019 when exports increased by 118%. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

New Zealand (X tons), Madagascar (X tons) and the United States (X tons) were the main destinations of tools for bearing exports from Australia, with a combined 51% share of total exports. South Africa, Papua New Guinea, France, Germany, Panama, Belgium, Malaysia, the UK and Singapore lagged somewhat behind, together accounting for a further 38%.

From 2012 to 2022, the biggest increases were recorded for Belgium (with a CAGR of +109.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, New Zealand ($X), Madagascar ($X) and the United States ($X) constituted the largest markets for tools for bearing exported from Australia worldwide, together accounting for 51% of total exports. South Africa, Papua New Guinea, France, Germany, Panama, Belgium, Malaysia, the UK and Singapore lagged somewhat behind, together accounting for a further 38%.

Belgium, with a CAGR of +123.7%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average tools for bearing export price amounted to $X per ton, with an increase of 19% against the previous year. In general, the export price, however, showed a abrupt setback. The growth pace was the most rapid in 2014 an increase of 78%. The export price peaked at $X per ton in 2016; however, from 2017 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the countries with the highest prices were Malaysia ($X per ton) and Madagascar ($X per ton), while the average price for exports to Singapore ($X per ton) and France ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Madagascar (+2.4%), while the prices for the other major destinations experienced more modest paces of growth.

Tools For Bearing Imports

Imports into Australia

In 2022, overseas purchases of balls, needles and rollers for ball or roller bearings decreased by -19.3% to X tons for the first time since 2019, thus ending a two-year rising trend. Overall, imports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 with an increase of 67%. Over the period under review, imports attained the peak figure at X tons in 2021, and then contracted sharply in the following year.

In value terms, tools for bearing imports declined remarkably to $X in 2022. In general, imports, however, saw noticeable growth. The most prominent rate of growth was recorded in 2021 when imports increased by 67%. As a result, imports reached the peak of $X, and then shrank markedly in the following year.

Imports by Country

Taiwan (Chinese) (X tons), Japan (X tons) and Germany (X tons) were the main suppliers of tools for bearing imports to Australia, with a combined 30% share of total imports. Romania, France, New Zealand, the United States, Thailand, the UK, Canada and China lagged somewhat behind, together comprising a further 17%.

From 2012 to 2022, the biggest increases were recorded for Romania (with a CAGR of +60.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Taiwan (Chinese) ($X), Japan ($X) and Germany ($X) were the largest tools for bearing suppliers to Australia, together accounting for 30% of total imports. Romania, France, New Zealand, the United States, Thailand, the UK, Canada and China lagged somewhat behind, together accounting for a further 17%.

Romania, with a CAGR of +70.4%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average tools for bearing import price amounted to $X per ton, stabilizing at the previous year. Over the period under review, import price indicated a pronounced increase from 2012 to 2022: its price increased at an average annual rate of +2.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, tools for bearing import price decreased by -25.9% against 2017 indices. The pace of growth appeared the most rapid in 2014 when the average import price increased by 104% against the previous year. The import price peaked at $X per ton in 2017; however, from 2018 to 2022, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Germany ($X per ton) and Romania ($X per ton), while the price for France ($X per ton) and China ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+14.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :