Canada: Spherical Roller Bearing Market 2024

Spherical Roller Bearing Market Size in Canada

The Canadian spherical roller bearing market fell to $X in 2021, with a decrease of -2% against the previous year. Overall, consumption continues to indicate a perceptible decrease. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Spherical Roller Bearing Production in Canada

In value terms, spherical roller bearing production shrank sharply to $X in 2021 estimated in export price. In general, production showed a significant curtailment. Spherical roller bearing production peaked at $X in 2020, and then contracted rapidly in the following year.

Spherical Roller Bearing Exports

Exports from Canada

In 2021, spherical roller bearing exports from Canada contracted to X tons, dropping by -6.2% against the previous year. Over the period under review, exports saw a perceptible setback. The pace of growth appeared the most rapid in 2015 with an increase of 37% against the previous year. Over the period under review, the exports hit record highs at X tons in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

In value terms, spherical roller bearing exports reduced modestly to $X in 2021. In general, exports recorded a pronounced setback. The growth pace was the most rapid in 2015 when exports increased by 29% against the previous year. Over the period under review, the exports reached the maximum at $X in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X tons) was the main destination for spherical roller bearing exports from Canada, accounting for a 53% share of total exports. Moreover, spherical roller bearing exports to the United States exceeded the volume sent to the second major destination, Singapore (X tons), sixfold. The third position in this ranking was taken by Poland (X tons), with a 5.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States totaled -6.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (+10.4% per year) and Poland (+86.4% per year).

In value terms, the United States ($X) remains the key foreign market for spherical roller bearings exports from Canada, comprising 52% of total exports. The second position in the ranking was held by Singapore ($X), with an 8.2% share of total exports. It was followed by Poland, with a 5.7% share.

From 2012 to 2021, the average annual growth rate of value to the United States amounted to -7.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (+9.3% per year) and Poland (+84.3% per year).

Export Prices by Country

In 2021, the average spherical roller bearing export price amounted to $X per ton, rising by 2.2% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 an increase of 12%. As a result, the export price attained the peak level of $X per ton. From 2015 to 2021, the average export prices failed to regain momentum.

Average prices varied noticeably for the major foreign markets. In 2021, the countries with the highest prices were Australia ($X per ton) and Denmark ($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 Greenland (+1.5%), while the prices for the other major destinations experienced a decline.

Spherical Roller Bearing Imports

Imports into Canada

In 2021, supplies from abroad of spherical roller bearings was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. In general, imports, however, continue to indicate a pronounced slump. The pace of growth appeared the most rapid in 2017 when imports increased by 28% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, spherical roller bearing imports expanded markedly to $X in 2021. Over the period under review, imports, however, recorded a perceptible slump. The pace of growth was the most pronounced in 2017 with an increase of 22%. Imports peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, the United States (X tons) constituted the largest supplier of spherical roller bearing to Canada, with a 32% share of total imports. Moreover, spherical roller bearing imports from the United States exceeded the figures recorded by the second-largest supplier, Germany (X tons), twofold. China (X tons) ranked third in terms of total imports with a 15% share.

From 2012 to 2021, the average annual growth rate of volume from the United States amounted to -4.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-4.6% per year) and China (+7.3% per year).

In value terms, the United States ($X) constituted the largest supplier of spherical roller bearings to Canada, comprising 32% of total imports. The second position in the ranking was taken by Germany ($X), with a 15% share of total imports. It was followed by China, with a 15% share.

From 2012 to 2021, the average annual growth rate of value from the United States totaled -6.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-6.0% per year) and China (+5.7% per year).

Import Prices by Country

The average spherical roller bearing import price stood at $X per ton in 2021, increasing by 3.5% against the previous year. Overall, the import price, however, saw a slight curtailment. The pace of growth was the most pronounced in 2020 an increase of 3.6% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sweden (-1.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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