Costa Rica: Roller Bearing Market 2024

Roller Bearing Market Size in Costa Rica

In 2022, after two years of growth, there was decline in the Costa Rican roller bearing market, when its value decreased by -2.9% to $X. Over the period under review, consumption showed a abrupt shrinkage. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Roller Bearing Exports

Exports from Costa Rica

After two years of decline, shipments abroad of roller bearings increased by 141% to X tons in 2022. Over the period under review, exports showed a resilient increase. The pace of growth was the most pronounced in 2016 when exports increased by 982% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, roller bearing exports soared to $X in 2022. Overall, exports showed resilient growth. The pace of growth appeared the most rapid in 2016 with an increase of 649%. Over the period under review, the exports attained the peak figure at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

China represented the main exporter of roller bearings in the world, with the volume of exports amounting to X tons, which was approx. 43% of total exports in 2022. Singapore (X tons) took the second position in the ranking, followed by Germany (X tons), France (X tons), Slovakia (X tons) and the United States (X tons). All these countries together held near 30% share of total exports. 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. While the share of China (+37 p.p.) and Indonesia (+2.2 p.p.) increased significantly in terms of the global exports from 2012-2022, the share of Italy (-1.5 p.p.), Germany (-2.6 p.p.), France (-2.7 p.p.), Romania (-4.9 p.p.), Hong Kong SAR (-6 p.p.), South Korea (-6.3 p.p.), the United States (-6.4 p.p.) and Austria (-7.2 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest roller bearing supplying countries from Costa Rica 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 comprising a further 31%.

Among the main exporting countries, Indonesia, with a CAGR of +16.1%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Costa Rica stood at $X per ton in 2022, dropping by -20.2% against the previous year. Overall, the export price, however, recorded a slight expansion. The most prominent rate of growth was recorded in 2013 when the export price increased by 177%. Over the period under review, the export prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

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 Costa Rica

In 2022, purchases abroad of roller bearings decreased by -5.2% to X tons for the first time since 2019, thus ending a two-year rising trend. In general, imports recorded a perceptible curtailment. The pace of growth was the most pronounced in 2017 with an increase of 417% against the previous year. As a result, imports attained the peak of X tons. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, roller bearing imports reached $X in 2022. Overall, imports showed a deep reduction. The pace of growth appeared the most rapid in 2017 when imports increased by 229% against the previous year. Costa Rica imports peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Thailand (X tons) and Indonesia (X tons) represented the key importers of roller bearingsin the world, together amounting to near 32% of total imports. It was distantly followed by Germany (X tons), comprising 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) took a little share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading 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, the largest roller bearing importing markets into Costa Rica were Indonesia ($X), Germany ($X) and India ($X), together accounting for 24% of total imports.

Indonesia, with a CAGR of +4.2%, 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

The import price in Costa Rica stood at $X per ton in 2022, rising by 6.8% against the previous year. Over the period under review, the import price, however, showed a noticeable curtailment. The growth pace was the most rapid in 2019 when the import price increased by 48% against the previous year. Over the period under review, import prices reached the maximum at $X per ton in 2016; however, from 2017 to 2022, import prices failed to regain momentum.

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