Australia: Tapered Roller Bearing Market 2024

Tapered Roller Bearing Market Size in Australia

In 2021, the Australian tapered roller bearing market increased by 8.6% to $X, rising for the sixth consecutive year after three years of decline. Overall, consumption continues to indicate a relatively flat trend pattern. Tapered roller bearing consumption peaked in 2021 and is likely to see steady growth in the immediate term.

Tapered Roller Bearing Exports

Exports from Australia

After two years of decline, shipments abroad of tapered roller bearings increased by 19% to X tons in 2021. In general, exports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when exports increased by 38%. The exports peaked at X tons in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

In value terms, tapered roller bearing exports soared to $X in 2021. Overall, exports, however, saw a perceptible curtailment. The pace of growth appeared the most rapid in 2017 with an increase of 34%. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

New Zealand (X tons), the United States (X tons) and Singapore (X tons) were the main destinations of tapered roller bearing exports from Australia, together comprising 69% of total exports. Belgium, Papua New Guinea, China and South Africa lagged somewhat behind, together comprising a further 18%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Belgium (with a CAGR of +54.2%), while the other leaders experienced more modest paces of growth.

In value terms, New Zealand ($X), the United States ($X) and Singapore ($X) were the largest markets for tapered roller bearing exported from Australia worldwide, with a combined 69% share of total exports. These countries were followed by Belgium, Papua New Guinea, China and South Africa, which together accounted for a further 18%.

Among the main countries of destination, Belgium, with a CAGR of +39.4%, recorded the highest growth rate of 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

In 2021, the average tapered roller bearing export price amounted to $X per ton, remaining constant against the previous year. In general, the export price, however, showed a perceptible decline. The pace of growth appeared the most rapid in 2015 when the average export price increased by 26%. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Average prices varied noticeably for the major overseas markets. In 2021, the countries with the highest prices were South Africa ($X per ton) and the United States ($X per ton), while the average price for exports to Singapore ($X per ton) and China ($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 China (+5.5%), while the prices for the other major destinations experienced a decline.

Tapered Roller Bearing Imports

Imports into Australia

In 2021, supplies from abroad of tapered roller bearings increased by 3.1% to X tons, rising for the sixth consecutive year after two years of decline. Overall, total imports indicated a pronounced increase from 2012 to 2021: its volume increased at an average annual rate of +3.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +90.1% against 2015 indices. The most prominent rate of growth was recorded in 2017 with an increase of 34% against the previous year. Imports peaked in 2021 and are likely to see gradual growth in the near future.

In value terms, tapered roller bearing imports expanded remarkably to $X in 2021. In general, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when imports increased by 25% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, the United States (X tons) constituted the largest tapered roller bearing supplier to Australia, accounting for a 48% share of total imports. Moreover, tapered roller bearing imports from the United States exceeded the figures recorded by the second-largest supplier, China (X tons), fourfold. The third position in this ranking was held by Japan (X tons), with a 12% share.

From 2012 to 2021, the average annual growth rate of volume from the United States totaled +7.7%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-0.2% per year) and Japan (+25.1% per year).

In value terms, the United States ($X) constituted the largest supplier of tapered roller bearings to Australia, comprising 47% of total imports. The second position in the ranking was held by China ($X), with a 13% share of total imports. It was followed by Japan, with a 12% share.

From 2012 to 2021, 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 (+1.5% per year) and Japan (-0.4% per year).

Import Prices by Country

In 2021, the average tapered roller bearing import price amounted to $X per ton, with an increase of 8.2% against the previous year. Overall, the import price, however, recorded a perceptible reduction. The most prominent rate of growth was recorded in 2015 an increase of 10%. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Average prices varied somewhat amongst the major supplying countries. In 2021, the countries with the highest prices were India ($X per ton) and Romania ($X per ton), while the price for Italy ($X per ton) and Germany ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+3.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :