Chile: Roller Bearing Market 2024

Roller Bearing Market Size in Chile

For the third year in a row, the Chilean roller bearing market recorded growth in sales value, which increased by 12% to $X in 2022. The market value increased at an average annual rate of +3.2% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market failed to regain momentum.

Roller Bearing Exports

Exports from Chile

Roller bearing exports from Chile skyrocketed to X tons in 2022, with an increase of 94% on the previous year. Overall, exports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2016 with an increase of 317% against the previous year. As a result, the exports reached the peak of X tons. From 2017 to 2022, the growth of the exports failed to regain momentum.

In value terms, roller bearing exports soared to $X in 2022. In general, exports posted a slight increase. The growth pace was the most rapid in 2016 when exports increased by 279% against the previous year. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

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.

Exports from China increased at an average annual rate of +22.6% from 2012 to 2022. 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 Chile were China ($X), Singapore ($X) and Germany ($X), with a combined 45% share of total exports. Italy, the United States, France, Hong Kong SAR, Slovakia, South Korea, Austria, Turkey, Indonesia and Romania lagged somewhat behind, together accounting for a further 31%.

Indonesia, with a CAGR of +16.1%, recorded the highest rates of growth with regard to the value of exports, among 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

In 2022, the export price in Chile amounted to $X per ton, waning by -11% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.7%. The pace of growth was the most pronounced in 2018 when the export price increased by 25%. Over the period under review, the export prices attained the peak figure at $X per ton in 2021, and then reduced in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2022, 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 Chile

Roller bearing imports into Chile reached X tons in 2022, approximately equating 2021. Over the period under review, total imports indicated a modest expansion from 2012 to 2022: its volume 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, imports increased by +82.5% against 2019 indices. The pace of growth was the most pronounced in 2021 with an increase of 43%. Over the period under review, imports hit record highs at X tons in 2015; however, from 2016 to 2022, imports remained at a lower figure.

In value terms, roller bearing imports surged to $X in 2022. In general, total imports indicated a perceptible expansion from 2012 to 2022: its value increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2018 with an increase of 55%. As a result, imports attained the peak of $X. From 2019 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, Thailand (X tons) and Indonesia (X tons) represented the main importers of roller bearingsacross the globe, together reaching near 32% of total imports. It was distantly followed by Germany (X tons), committing a 6.2% share of total imports. India (X tons), Italy (X tons), Canada (X tons), Malaysia (X tons), Spain (X tons), South Korea (X tons), France (X tons), Singapore (X tons), Poland (X tons) and Austria (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Thailand (with a CAGR of +18.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X), Germany ($X) and India ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined 24% share of total imports.

Among the main importing countries, Indonesia, with a CAGR of +4.2%, saw 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

In 2022, the import price in Chile amounted to $X per ton, surging by 18% against the previous year. In general, the import price saw a slight increase. The pace of growth appeared the most rapid in 2018 an increase of 25% against the previous year. Chile import price peaked at $X per ton in 2019; however, from 2020 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Canada ($X per ton), while Thailand ($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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