Canada: Market for Bearing Housings Incorporating Ball Or Roller Bearings 2024

Market Size for Bearing Housings Incorporating Ball Or Roller Bearings in Canada

For the fifth consecutive year, the Canadian market for bearing housings incorporating ball or roller bearings recorded growth in sales value, which increased by 5.5% to $X in 2022. The market value increased at an average annual rate of +1.8% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market hit record highs in 2022 and is likely to continue growth in the near future.

Production of Bearing Housings Incorporating Ball Or Roller Bearings in Canada

In value terms, bearing housing with ball bearing production expanded modestly to $X in 2022 estimated in export price. In general, the total production indicated a modest expansion from 2012 to 2022: its value increased at an average annual rate of +1.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -4.1% against 2020 indices. The most prominent rate of growth was recorded in 2018 when the production volume increased by 73% against the previous year. Bearing housing with ball bearing production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Exports of Bearing Housings Incorporating Ball Or Roller Bearings

Exports from Canada

In 2022, bearing housing with ball bearing exports from Canada skyrocketed to X tons, picking up by 71% on the previous year. In general, exports enjoyed strong growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, bearing housing with ball bearing exports surged to $X in 2022. Overall, exports saw a prominent expansion. The most prominent rate of growth was recorded in 2018 when exports increased by 48% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in years to come.

Exports by Country

The United States (X tons) was the main destination for bearing housing with ball bearing exports from Canada, accounting for a 69% share of total exports. Moreover, bearing housing with ball bearing exports to the United States exceeded the volume sent to the second major destination, India (X tons), fivefold. Mexico (X tons) ranked third in terms of total exports with a 2.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States totaled +8.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+54.0% per year) and Mexico (+37.3% per year).

In value terms, the United States ($X) remains the key foreign market for bearing housings incorporating ball or roller bearings exports from Canada, comprising 69% of total exports. The second position in the ranking was taken by India ($X), with a 13% share of total exports. It was followed by Mexico, with a 2.4% share.

From 2012 to 2022, the average annual growth rate of value to the United States totaled +6.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+52.4% per year) and Mexico (+35.8% per year).

Export Prices by Country

The average export price for bearing housings incorporating ball or roller bearings stood at $X per ton in 2022, shrinking by -13.5% against the previous year. Over the period under review, the export price continues to indicate a mild curtailment. The pace of growth appeared the most rapid in 2020 an increase of 14%. Over the period under review, the average export prices reached the maximum at $X per ton in 2021, and then declined in the following year.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Mexico ($X per ton) and the United States ($X per ton), while the average price for exports to India ($X per ton) and Belgium ($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 Belgium (-1.1%), while the prices for the other major destinations experienced a decline.

Imports of Bearing Housings Incorporating Ball Or Roller Bearings

Imports into Canada

In 2022, overseas purchases of bearing housings incorporating ball or roller bearings increased by 31% to X tons, rising for the second year in a row after two years of decline. Overall, total imports indicated resilient growth from 2012 to 2022: its volume increased at an average annual rate of +8.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +49.6% against 2020 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, bearing housing with ball bearing imports soared to $X in 2022. The total import value increased at an average annual rate of +5.0% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached 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 housing with ball bearing to Canada, accounting for a 46% share of total imports. Moreover, bearing housing with ball bearing imports from the United States exceeded the figures recorded by the second-largest supplier, China (X tons), twofold. The third position in this ranking was taken by Italy (X tons), with a 9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States totaled +4.6%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+13.9% per year) and Italy (+49.1% per year).

In value terms, the United States ($X) constituted the largest supplier of bearing housings incorporating ball or roller bearings to Canada, comprising 46% of total imports. The second position in the ranking was held by China ($X), with a 23% share of total imports. It was followed by Italy, with a 9% share.

From 2012 to 2022, the average annual growth rate of value from the United States totaled +1.6%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+10.6% per year) and Italy (+44.9% per year).

Import Prices by Country

The average import price for bearing housings incorporating ball or roller bearings stood at $X per ton in 2022, with a decrease of -5.6% against the previous year. Over the period under review, the import price saw a pronounced contraction. The pace of growth was the most pronounced in 2019 when the average import price increased by 6.5%. The import price peaked at $X per ton in 2012; however, from 2013 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 highest price was recorded for prices from Mexico ($X per ton) and the United States ($X per ton), while the price for China ($X per ton) and Italy ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (-2.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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