Australia: Needle Roller Bearing Market 2024

Needle Roller Bearing Market Size in Australia

The Australian needle roller bearing market surged to $X in 2021, rising by 21% 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, showed a noticeable setback. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Needle Roller Bearing Exports

Exports from Australia

In 2021, approx. X tons of needle roller bearings were exported from Australia; growing by 117% against the year before. In general, exports, however, continue to indicate a perceptible decrease. The most prominent rate of growth was recorded in 2013 with an increase of 155% against the previous year. As a result, the exports attained the peak of X tons. From 2014 to 2021, the growth of the exports failed to regain momentum.

In value terms, needle roller bearing exports soared to $X in 2021. Overall, exports posted a buoyant expansion. The most prominent rate of growth was recorded in 2013 with an increase of 430%. As a result, the exports attained the peak of $X. From 2014 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

New Zealand (X tons) was the main destination for needle roller bearing exports from Australia, with a 43% share of total exports. Moreover, needle roller bearing exports to New Zealand exceeded the volume sent to the second major destination, the United States (X tons), twofold. Singapore (X kg) ranked third in terms of total exports with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to New Zealand amounted to -10.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+37.8% per year) and Singapore (+16.7% per year).

In value terms, New Zealand ($X) remains the key foreign market for needle roller bearing exports from Australia, comprising 43% of total exports. The second position in the ranking was held by the United States ($X), with a 19% share of total exports. It was followed by Singapore, with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of value to New Zealand stood at +5.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+42.1% per year) and Singapore (+16.2% per year).

Export Prices by Country

In 2021, the average needle roller bearing export price amounted to $X per ton, therefore, remained relatively stable against the previous year. In general, export price indicated a remarkable increase from 2012 to 2021: its price increased at an average annual rate of +10.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, needle roller bearing export price increased by +4.5% against 2019 indices. The pace of growth was the most pronounced in 2013 when the average export price increased by 108%. The export price peaked at $X per ton in 2018; however, from 2019 to 2021, the export prices failed to regain momentum.

Average prices varied noticeably for the major external markets. In 2021, the countries with the highest prices were Belgium ($X per ton) and France ($X per ton), while the average price for exports to New Zealand ($X per ton) and the United States ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Ghana (+42.2%), while the prices for the other major destinations experienced more modest paces of growth.

Needle Roller Bearing Imports

Imports into Australia

In 2021, the amount of needle roller bearings imported into Australia surged to X tons, jumping by 69% compared with the previous year's figure. In general, imports, however, recorded a pronounced decrease. Over the period under review, imports hit record highs at X tons in 2016; however, from 2017 to 2021, imports remained at a lower figure.

In value terms, needle roller bearing imports rose slightly to $X in 2021. Overall, imports, however, recorded a slight curtailment. The pace of growth appeared the most rapid in 2019 when imports increased by 20%. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

The United States (X tons), Japan (X tons) and China (X tons) were the main suppliers of needle roller bearing imports to Australia, together comprising 67% of total imports. These countries were followed by Germany, Mexico, Canada and Slovakia, which together accounted for a further 23%.

From 2012 to 2021, the biggest increases were in Canada (with a CAGR of +31.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Japan ($X) and China ($X) appeared to be the largest needle roller bearing suppliers to Australia, together accounting for 67% of total imports. Germany, Mexico, Canada and Slovakia lagged somewhat behind, together comprising a further 23%.

In terms of the main suppliers, Mexico, with a CAGR of +28.8%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average needle roller bearing import price stood at $X per ton in 2021, dropping by -39.1% against the previous year. Over the period under review, the import price, however, enjoyed pronounced growth. The growth pace was the most rapid in 2020 when the average import price increased by 86%. As a result, import price reached the peak level of $X per ton, and then shrank dramatically in the following year.

Average prices varied noticeably amongst the major supplying countries. In 2021, the countries with the highest prices were Slovakia ($X per ton) and Mexico ($X per ton), while the price for the United States ($X per ton) and Canada ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+10.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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