Colombia: Market for Bearing Housings Incorporating Ball Or Roller Bearings 2024

Market Size for Bearing Housings Incorporating Ball Or Roller Bearings in Colombia

The Colombian market for bearing housings incorporating ball or roller bearings expanded modestly to $X in 2022, increasing by 3.4% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption, however, showed a relatively flat trend pattern. Bearing housing with ball bearing consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Exports of Bearing Housings Incorporating Ball Or Roller Bearings

Exports from Colombia

In 2022, bearing housing with ball bearing exports from Colombia surged to X tons, growing by 15% on 2021. Overall, exports showed a remarkable increase. The pace of growth was the most pronounced in 2020 when exports increased by 445%. As a result, the exports attained the peak of X tons. From 2021 to 2022, the growth of the exports failed to regain momentum.

In value terms, bearing housing with ball bearing exports surged to $X in 2022. In general, exports enjoyed buoyant growth. The most prominent rate of growth was recorded in 2020 with an increase of 403%. As a result, the exports reached the peak of $X. From 2021 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Belize (X tons) was the main destination for bearing housing with ball bearing exports from Colombia, accounting for a 51% share of total exports. Moreover, bearing housing with ball bearing exports to Belize exceeded the volume sent to the second major destination, Barbados (X tons), fourfold. El Salvador (X tons) ranked third in terms of total exports with a 12% share.

From 2012 to 2022, the average annual growth rate of volume to Belize stood at +95.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Barbados (+135.0% per year) and El Salvador (-14.0% per year).

In value terms, Belize ($X) emerged as the key foreign market for bearing housings incorporating ball or roller bearings exports from Colombia, comprising 48% of total exports. The second position in the ranking was taken by El Salvador ($X), with a 20% share of total exports. It was followed by Guatemala, with an 11% share.

From 2012 to 2022, the average annual growth rate of value to Belize stood at +76.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: El Salvador (+0.8% per year) and Guatemala (-3.1% per year).

Export Prices by Country

In 2022, the average export price for bearing housings incorporating ball or roller bearings amounted to $X per ton, standing approx. at the previous year. Overall, the export price, however, saw a perceptible shrinkage. The growth pace was the most rapid in 2017 an increase of 150% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2018 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Panama ($X per ton), while the average price for exports to Tanzania ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to El Salvador (+17.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Bearing Housings Incorporating Ball Or Roller Bearings

Imports into Colombia

In 2022, after four years of growth, there was significant decline in supplies from abroad of bearing housings incorporating ball or roller bearings, when their volume decreased by -5.4% to X tons. The total import volume increased at an average annual rate of +2.5% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2019 when imports increased by 22%. Over the period under review, imports hit record highs at X tons in 2021, and then fell in the following year.

In value terms, bearing housing with ball bearing imports expanded significantly to $X in 2022. Overall, imports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2019 when imports increased by 22%. Imports peaked at $X in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, the United Arab Emirates (X tons) was the main supplier of bearing housing with ball bearing to Colombia, accounting for a approx. 100% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United Arab Emirates stood at +210.1%.

In value terms, the United Arab Emirates ($X) constituted the largest supplier of bearing housings incorporating ball or roller bearings to Colombia.

From 2012 to 2022, the average annual growth rate of value from the United Arab Emirates amounted to +202.0%.

Import Prices by Country

In 2022, the average import price for bearing housings incorporating ball or roller bearings amounted to $X per ton, rising by 12% against the previous year. Overall, the import price, however, saw a mild downturn. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

As there is only one major supplying country, the average price level is determined by prices for the United Arab Emirates.

From 2012 to 2022, the rate of growth in terms of prices for the United States amounted to +0.6% per year.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :