Report Update Nov 1, 2024

Cuba - Ball Bearings - Market Analysis, Forecast, Size, Trends and Insights

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Cuba: Ball Bearing Market 2024

Ball Bearing Market Size in Cuba

After two years of decline, the Cuban ball bearing market increased by 2.5% to $X in 2021. In general, consumption showed a noticeable contraction. Ball bearing consumption peaked at $X in 2016; however, from 2017 to 2021, consumption stood at a somewhat lower figure.

Ball Bearing Exports

Exports from Cuba

In 2021, approx. X kg of ball bearings were exported from Cuba; reducing by -11.6% against the previous year. Overall, exports continue to indicate a abrupt curtailment. The pace of growth appeared the most rapid in 2017 when exports increased by 3,764%. As a result, the exports attained the peak of X kg. From 2018 to 2021, the growth of the exports failed to regain momentum.

In value terms, ball bearing exports soared to $X in 2021. In general, exports continue to indicate a deep reduction. The growth pace was the most rapid in 2017 when exports increased by 1,550% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Belgium (X kg), Austria (X kg) and Costa Rica (X kg) were the main destinations of ball bearing exports from Cuba, together comprising 24% of total exports.

From 2012 to 2021, the biggest increases were recorded for Costa Rica (with a CAGR of +34.1%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, Austria ($X) remains the key foreign market for ball bearings exports from Cuba, comprising 14% of total exports. The second position in the ranking was held by Costa Rica ($X), with a 2.4% share of total exports. It was followed by Canada, with a 1.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Austria amounted to -23.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Costa Rica (+19.3% per year) and Canada (+34.8% per year).

Export Prices by Country

In 2021, the average ball bearing export price amounted to $X per ton, picking up by 79% against the previous year. In general, the export price continues to indicate strong growth. The most prominent rate of growth was recorded in 2013 an increase of 99%. The export price peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Austria ($X per ton), while the average price for exports to Belgium ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Canada (+5.3%), while the prices for the other major destinations experienced mixed trend patterns.

Ball Bearing Imports

Imports into Cuba

In 2021, the amount of ball bearings imported into Cuba declined sharply to X tons, with a decrease of -15.7% compared with 2020. In general, imports showed a abrupt contraction. The growth pace was the most rapid in 2016 when imports increased by 57% against the previous year. As a result, imports reached the peak of X tons. From 2017 to 2021, the growth of imports failed to regain momentum.

In value terms, ball bearing imports stood at $X in 2021. Overall, imports continue to indicate a pronounced descent. The growth pace was the most rapid in 2014 when imports increased by 47% against the previous year. Over the period under review, imports attained the maximum at $X in 2016; however, from 2017 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Spain (X tons) constituted the largest supplier of ball bearing to Cuba, accounting for a 28% share of total imports. Moreover, ball bearing imports from Spain exceeded the figures recorded by the second-largest supplier, China (X tons), fourfold. The third position in this ranking was taken by Italy (X tons), with a 7.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Spain stood at -12.9%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+9.2% per year) and Italy (+16.5% per year).

In value terms, Spain ($X) constituted the largest supplier of ball bearings to Cuba, comprising 23% of total imports. The second position in the ranking was held by China ($X), with an 8.7% share of total imports. It was followed by Russia, with an 8% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Spain amounted to -13.9%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+12.2% per year) and Russia (-3.0% per year).

Import Prices by Country

In 2021, the average ball bearing import price amounted to $X per ton, picking up by 26% against the previous year. Over the last nine years, it increased at an average annual rate of +1.2%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of origin: the country with the highest price was Russia ($X per ton), while the price for Austria ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Panama (+9.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for ball bearings in the world?

The country with the largest volume of ball bearing consumption was China, accounting for 30% of total volume. Moreover, ball bearing consumption in China exceeded the figures recorded by the second-largest consumer, India, threefold. The United States ranked third in terms of total consumption with an 8.5% share.

What are the largest producers of ball bearings in the world?

China constituted the country with the largest volume of ball bearing production, comprising approx. 36% of total volume. Moreover, ball bearing production in China exceeded the figures recorded by the second-largest producer, India, threefold. Japan ranked third in terms of total production with a 10% share.

What are the leading suppliers of ball bearings to Cuba?

In value terms, Spain, Canada and Russia appeared to be the largest ball bearing suppliers to Cuba, together accounting for 75% of total imports.

What are the leading importers of ball bearings from Cuba?

In value terms, Austria remains the key foreign market for ball bearing exports from Cuba, comprising 96% of total exports. The second position in the ranking was occupied by Canada $95), with a 1.9% share of total exports.

What is the average export price for ball bearings in Cuba?

In 2020, the average ball bearing export price amounted to $10,699 per ton, reducing by -15.8% against the previous year.

What is the average import price for ball bearings in Cuba?

In 2020, the average ball bearing import price amounted to $16,847 per ton, reducing by -22% against the previous year.

This report provides an in-depth analysis of the ball bearing market in Cuba. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 28151030 - Ball bearings

Country coverage:

Cuba

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Cuba
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023