Canada: Roller Bearing Market 2024

Roller Bearing Market Size in Canada

The Canadian roller bearing market rose significantly to $X in 2022, picking up by 6.7% against the previous year. Over the period under review, the total consumption indicated a perceptible expansion from 2012 to 2022: its value increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -0.3% against 2020 indices. Canada consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Roller Bearing Production in Canada

In value terms, roller bearing production rose notably to $X in 2022 estimated in export price. Overall, the total production indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +6.9% 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 -4.6% against 2020 indices. The growth pace was the most rapid in 2018 when the production volume increased by 30% against the previous year. Canada production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Roller Bearing Exports

Exports from Canada

In 2022, approx. X tons of roller bearings were exported from Canada; remaining stable against the previous year. In general, exports, however, saw a perceptible reduction. The most prominent rate of growth was recorded in 2015 when exports increased by 75% against the previous year. As a result, the exports reached the peak of X tons. From 2016 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, roller bearing exports shrank to $X in 2022. Over the period under review, exports, however, showed a slight downturn. The most prominent rate of growth was recorded in 2021 when exports increased by 78%. The Canada exports peaked at $X in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

In 2022, China (X tons) was the major exporter of roller bearings, comprising 43% of total exports. Singapore (X tons) held a 9.7% share (based on physical terms) of total exports, which put it in second place, followed by Germany (7.2%), France (6.9%), Slovakia (5.4%) and the United States (0.8%). The following exporters - Italy (X tons), South Korea (X tons), Indonesia (X tons), Hong Kong SAR (X tons), Turkey (X tons), Austria (X tons) and Romania (X tons) - together made up 14% of total exports.

From 2012 to 2022, average annual rates of growth with regard to roller bearing exports from China stood at +22.6%. At the same time, Indonesia (+35.7%), Turkey (+8.5%), Singapore (+1.2%) and Slovakia (+1.1%) displayed positive paces of growth. Moreover, Indonesia emerged as the fastest-growing exporter exported in the world, with a CAGR of +35.7% from 2012-2022. By contrast, Italy (-1.9%), Germany (-2.0%), France (-2.2%), South Korea (-9.7%), Hong Kong SAR (-13.7%), the United States (-18.4%), Austria (-22.3%) and Romania (-22.4%) illustrated a downward trend over the same period. China (+37 p.p.) and Indonesia (+2.2 p.p.) significantly strengthened its position in terms of the global exports, while Italy, Germany, France, Romania, Hong Kong SAR, South Korea, the United States and Austria saw its share reduced by -1.5%, -2.6%, -2.7%, -4.9%, -6%, -6.3%, -6.4% and -7.2% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest roller bearing supplying countries from Canada were China ($X), Singapore ($X) and Germany ($X), together comprising 45% of total exports. Italy, the United States, France, Hong Kong SAR, Slovakia, South Korea, Austria, Turkey, Indonesia and Romania lagged somewhat behind, together comprising a further 31%.

Indonesia, with a CAGR of +16.1%, recorded the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Canada stood at $X per ton in 2022, waning by -10.8% against the previous year. Over the last decade, it increased at an average annual rate of +1.5%. The pace of growth appeared the most rapid in 2018 when the export price increased by 25%. Over the period under review, the export prices attained the maximum at $X per ton in 2021, and then contracted in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the United States ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+16.3%), while the other leaders experienced more modest paces of growth.

Roller Bearing Imports

Imports into Canada

In 2022, overseas purchases of roller bearings increased by 13% to X tons, rising for the second year in a row after two years of decline. In general, imports, however, saw a pronounced descent. Canada imports peaked at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, roller bearing imports rose significantly to $X in 2022. Overall, imports, however, continue to indicate a noticeable contraction. Canada imports peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Thailand (X tons) and Indonesia (X tons) represented roughly 32% of total imports in 2022. It was distantly followed by Germany (X tons), generating a 6.2% share of total imports. India (X tons), Italy (X tons), Malaysia (X tons), Spain (X tons), South Korea (X tons), France (X tons), Singapore (X tons), Poland (X tons), Austria (X tons) and Nigeria (X tons) held a relatively small share of total imports.

From 2012 to 2022, the biggest increases were recorded for Thailand (with a CAGR of +18.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X), Germany ($X) and India ($X) were the countries with the highest levels of imports in 2022, together accounting for 24% of total imports.

Among the main importing countries, Indonesia, with a CAGR of +4.2%, recorded the highest growth rate of 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 import price in Canada stood at $X per ton in 2022, growing by 1.6% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was India ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+6.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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