Canada: Ball Bearing Market 2024

Ball Bearing Market Size in Canada

The Canadian ball bearing market totaled $X in 2021, flattening at the previous year. The market value increased at an average annual rate of +1.4% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2019; afterwards, it flattened through to 2021.

Ball Bearing Production in Canada

In value terms, ball bearing production contracted slightly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.4% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2018 when the production volume increased by 21%. Over the period under review, production hit record highs at $X in 2020, and then reduced in the following year.

Ball Bearing Exports

Exports from Canada

In 2021, the amount of ball bearings exported from Canada rose significantly to X tons, increasing by 6% on 2020 figures. Over the period under review, exports, however, recorded a pronounced descent. The pace of growth appeared the most rapid in 2017 when exports increased by 15%. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, ball bearing exports soared to $X in 2021. In general, exports, however, showed a pronounced downturn. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

The United States (X tons) was the main destination for ball bearing exports from Canada, with a 78% share of total exports. It was followed by Germany (X tons), with a 2.3% share of total exports. The third position in this ranking was held by Mexico (X tons), with a 2.2% share.

From 2012 to 2021, the average annual growth rate of volume to the United States amounted to -4.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (-13.7% per year) and Mexico (-10.1% per year).

In value terms, the United States ($X) remains the key foreign market for ball bearings exports from Canada, comprising 78% of total exports. The second position in the ranking was held by Germany ($X), with a 2.3% share of total exports. It was followed by Mexico, with a 2.2% share.

From 2012 to 2021, the average annual growth rate of value to the United States stood at -2.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (-12.2% per year) and Mexico (-8.6% per year).

Export Prices by Country

The average ball bearing export price stood at $X per ton in 2021, rising by 16% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.7%. The pace of growth appeared the most rapid in 2018 an increase of 18%. The export price peaked in 2021 and is likely to see gradual growth in years to come.

Average prices varied noticeably for the major external markets. In 2021, the countries with the highest prices were Romania ($X per ton) and Mexico ($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 2021, the most notable rate of growth in terms of prices was recorded for supplies to Mexico (+1.7%), while the prices for the other major destinations experienced more modest paces of growth.

Ball Bearing Imports

Imports into Canada

In 2021, purchases abroad of ball bearings increased by 7.7% to X tons for the first time since 2018, thus ending a two-year declining trend. Overall, imports, however, showed a perceptible curtailment. The growth pace was the most rapid in 2018 with an increase of 11%. Imports peaked at X tons in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

In value terms, ball bearing imports surged to $X in 2021. Over the period under review, imports, however, saw a perceptible downturn. 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), China (X tons) and Japan (X tons) were the main suppliers of ball bearing imports to Canada, together comprising 64% of total imports. South Korea, Germany, France, Taiwan (Chinese), Italy, Mexico and Turkey lagged somewhat behind, together accounting for a further 26%.

From 2012 to 2021, the biggest increases were recorded for Taiwan (Chinese) (with a CAGR of +8.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest ball bearing suppliers to Canada were the United States ($X), China ($X) and Japan ($X), with a combined 64% share of total imports. South Korea, Germany, France, Taiwan (Chinese), Italy, Mexico and Turkey lagged somewhat behind, together comprising a further 26%.

Taiwan (Chinese), with a CAGR of +8.6%, saw 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 more modest paces of growth.

Import Prices by Country

In 2021, the average ball bearing import price amounted to $X per ton, increasing by 9.5% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mexico (-0.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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