Chile: Needle Roller Bearing Market 2024

Needle Roller Bearing Market Size in Chile

The Chilean needle roller bearing market was finally on the rise to reach $X in 2021, after two years of decline. Overall, consumption showed a relatively flat trend pattern. Needle roller bearing consumption peaked at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Needle Roller Bearing Exports

Exports from Chile

In 2021, approx. X kg of needle roller bearings were exported from Chile; growing by 86% on the year before. Overall, exports saw strong growth. The growth pace was the most rapid in 2014 when exports increased by 1,177% against the previous year. As a result, the exports attained the peak of X kg. From 2015 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, needle roller bearing exports skyrocketed to $X in 2021. Over the period under review, exports posted a prominent increase. The most prominent rate of growth was recorded in 2014 with an increase of 916%. As a result, the exports attained the peak of $X. From 2015 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Peru (X kg) was the main destination for needle roller bearing exports from Chile, accounting for a 70% share of total exports. Moreover, needle roller bearing exports to Peru exceeded the volume sent to the second major destination, Argentina (X kg), threefold. The third position in this ranking was taken by Brazil (X kg), with a 4.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Peru totaled +52.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Argentina (+67.2% per year) and Brazil (-1.0% per year).

In value terms, Peru ($X) emerged as the key foreign market for needle roller bearing exports from Chile, comprising 70% of total exports. The second position in the ranking was held by Argentina ($X), with a 21% share of total exports. It was followed by Brazil, with a 4.5% share.

From 2012 to 2021, the average annual growth rate of value to Peru stood at +49.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Argentina (+62.2% per year) and Brazil (-3.0% per year).

Export Prices by Country

In 2021, the average needle roller bearing export price amounted to $X per ton, falling by -5.2% against the previous year. In general, the export price saw a noticeable descent. The pace of growth appeared the most rapid in 2017 when the average export price increased by 27% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Average prices varied noticeably for the major foreign markets. In 2021, the highest price was recorded for prices to the Netherlands ($X per ton) and the United States ($X per ton), while the average price for exports to Peru ($X per ton) and Argentina ($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 Venezuela (+6.0%), while the prices for the other major destinations experienced more modest paces of growth.

Needle Roller Bearing Imports

Imports into Chile

In 2021, approx. X tons of needle roller bearings were imported into Chile; rising by 29% compared with the previous year. The total import volume increased at an average annual rate of +1.8% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, imports attained the maximum at X tons in 2016; however, from 2017 to 2021, imports remained at a lower figure.

In value terms, needle roller bearing imports skyrocketed to $X in 2021. Overall, imports continue to indicate a relatively flat trend pattern. Imports peaked at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Japan (X tons), China (X tons) and the United States (X tons) were the main suppliers of needle roller bearing imports to Chile, with a combined 52% share of total imports. These countries were followed by Germany, Brazil, Spain, France, Sweden, the Netherlands, Portugal, Italy and South Korea, which together accounted for a further 24%.

From 2012 to 2021, the biggest increases were in Portugal (with a CAGR of +68.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), China ($X) and the United States ($X) appeared to be the largest needle roller bearing suppliers to Chile, together comprising 52% of total imports. Germany, Brazil, Spain, France, Sweden, the Netherlands, Portugal, Italy and South Korea lagged somewhat behind, together comprising a further 24%.

Portugal, with a CAGR of +64.8%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average needle roller bearing import price stood at $X per ton in 2021, surging by 3.1% against the previous year. In general, the import price, however, saw a slight descent. The pace of growth appeared the most rapid in 2020 an increase of 9.9%. Over the period under review, average import prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2021, the highest price was recorded for prices from South Korea ($X per ton) and Portugal ($X per ton), while the price for Italy ($X per ton) and China ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (-1.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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