Canada: Ball Bearing Parts Market 2024

Ball Bearing Parts Market Size in Canada

The Canadian ball bearing parts market soared to $X in 2021, picking up by 22% against the previous year. Over the period under review, consumption, however, saw a pronounced curtailment. Ball bearing parts consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Ball Bearing Parts Production in Canada

In value terms, ball bearing parts production skyrocketed to $X in 2021 estimated in export price. Over the period under review, production, however, showed a noticeable decline. The pace of growth was the most pronounced in 2018 with an increase of 28%. Ball bearing parts production peaked at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Ball Bearing Parts Exports

Exports from Canada

In 2021, shipments abroad of parts of ball or roller bearings decreased by -14.9% to X tons, falling for the second year in a row after two years of growth. Over the period under review, exports showed a abrupt curtailment. The most prominent rate of growth was recorded in 2018 with an increase of 22%. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, ball bearing parts exports amounted to $X in 2021. In general, exports saw a perceptible reduction. The most prominent rate of growth was recorded in 2018 with an increase of 33%. 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 parts exports from Canada, with a 88% share of total exports. It was followed by Mexico (X tons), with a 2.8% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to the United States stood at -4.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (-17.8% per year) and Germany (-2.7% per year).

In value terms, the United States ($X) remains the key foreign market for parts of ball or roller bearings exports from Canada, comprising 87% of total exports. The second position in the ranking was held by Mexico ($X), with a 2.8% share of total exports.

From 2012 to 2021, the average annual growth rate of value to the United States amounted to -3.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (-16.5% per year) and Germany (-1.2% per year).

Export Prices by Country

The average ball bearing parts export price stood at $X per ton in 2021, jumping by 19% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.6%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably for the major external markets. In 2021, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Germany ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+1.6%), while the prices for the other major destinations experienced more modest paces of growth.

Ball Bearing Parts Imports

Imports into Canada

In 2021, after two years of decline, there was significant growth in purchases abroad of parts of ball or roller bearings, when their volume increased by 26% to X tons. In general, imports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2018 with an increase of 27%. As a result, imports reached the peak of X tons. From 2019 to 2021, the growth of imports failed to regain momentum.

In value terms, ball bearing parts imports skyrocketed to $X in 2021. Over the period under review, imports, however, continue to indicate a perceptible shrinkage. Imports peaked at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

The United States (X tons), China (X tons) and Japan (X tons) were the main suppliers of ball bearing parts imports to Canada, together accounting for 78% of total imports. These countries were followed by Germany, South Korea, India and Slovakia, which together accounted for a further 13%.

From 2012 to 2021, the biggest increases were recorded for South Korea (with a CAGR of +39.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), China ($X) and Japan ($X) were the largest ball bearing parts suppliers to Canada, with a combined 78% share of total imports. These countries were followed by Germany, South Korea, India and Slovakia, which together accounted for a further 13%.

Among the main suppliers, South Korea, with a CAGR of +36.5%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average ball bearing parts import price stood at $X per ton in 2021, declining by -4.7% against the previous year. In general, the import price showed a slight setback. The most prominent rate of growth was recorded in 2014 an increase of 10% against the previous year. As a result, import price reached the peak level of $X per ton. From 2015 to 2021, the average import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the countries with the highest prices were India ($X per ton) and the United States ($X per ton), while the price for Slovakia ($X per ton) and South Korea ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (-1.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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