Colombia: Cylindrical Roller Bearing Market 2024

Cylindrical Roller Bearing Market Size in Colombia

The Colombian cylindrical roller bearing market contracted to $X in 2022, which is down by -10.2% 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). In general, consumption recorded a slight curtailment. Colombia consumption peaked at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Cylindrical Roller Bearing Exports

Exports from Colombia

Cylindrical roller bearing exports from Colombia surged to X tons in 2022, jumping by 257% on the year before. Overall, exports continue to indicate a resilient increase. The growth pace was the most rapid in 2015 with an increase of 1,230%. 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, cylindrical roller bearing exports soared to $X in 2022. Over the period under review, exports recorded a resilient expansion. The pace of growth was the most pronounced in 2015 with an increase of 1,078%. As a result, the exports attained the peak of $X. From 2016 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The biggest shipments were from Germany (X tons), China (X tons) and Japan (X tons), together recording 53% of total export. Romania (X tons) took a 7.7% share (based on physical terms) of total exports, which put it in second place, followed by Slovakia (5.6%). Taiwan (Chinese) (X tons), Kazakhstan (X tons), Canada (X tons), Russia (X tons), Hong Kong SAR (X tons), Poland (X tons), France (X tons) and Italy (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Taiwan (Chinese) (with a CAGR of +43.8%), while the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) remains the largest cylindrical roller bearing supplier from Colombia, comprising 27% of global exports. The second position in the ranking was taken by Japan ($X), with an 11% share of global exports. It was followed by China, with an 8.9% share.

In Germany, cylindrical roller bearing exports remained relatively stable over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Japan (-0.3% per year) and China (+6.6% per year).

Export Prices by Country

In 2022, the export price in Colombia amounted to $X per ton, declining by -13.8% against the previous year. In general, the export price showed a slight reduction. The growth pace was the most rapid in 2016 an increase of 70% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2017 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was France ($X per ton), while Russia ($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 (+3.3%), while the other leaders experienced more modest paces of growth.

Cylindrical Roller Bearing Imports

Imports into Colombia

In 2022, approx. X tons of cylindrical roller bearings were imported into Colombia; reducing by -8.3% against 2021. In general, imports continue to indicate a pronounced decline. The growth pace was the most rapid in 2021 when imports increased by 15% against the previous year. Over the period under review, imports hit record highs at X tons in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

In value terms, cylindrical roller bearing imports shrank to $X in 2022. Over the period under review, imports continue to indicate a slight reduction. The most prominent rate of growth was recorded in 2014 when imports increased by 25% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports failed to regain momentum.

Imports by Country

The purchases of the three major importers of cylindrical roller bearings, namely China, Russia and Germany, represented more than third of total import. It was distantly followed by the United States (X tons), creating a 5.7% share of total imports. Spain (X tons), Mexico (X tons), Italy (X tons), Brazil (X tons), Thailand (X tons), South Korea (X tons), Indonesia (X tons), Turkey (X tons) and the Czech Republic (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Thailand (with a CAGR of +20.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Germany ($X) and the United States ($X) were the countries with the highest levels of imports in 2022, with a combined 43% share of total imports. Mexico, Italy, Brazil, Russia, South Korea, Spain, Indonesia, Turkey, the Czech Republic and Thailand lagged somewhat behind, together accounting for a further 23%.

Spain, with a CAGR of +13.7%, saw the highest growth rate of the value of imports, in terms of the main importing countries 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 Colombia amounted to $X per ton, with a decrease of -1.8% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the import price increased by 19% against the previous year. Colombia import price peaked at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+2.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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