Report Update Nov 1, 2024

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

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Cuba: Bearing Market 2022

Bearing Market Size in Cuba

In 2021, the Cuban bearing market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. Overall, consumption, however, recorded a deep reduction. Bearing consumption peaked at $X in 2014; however, from 2015 to 2021, consumption stood at a somewhat lower figure.

Bearing Exports

Exports from Cuba

In 2021, shipments abroad of ball or roller bearings was finally on the rise to reach X kg after two years of decline. In general, exports, however, recorded a dramatic decline. Over the period under review, the exports attained the peak figure at X tons in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

In value terms, bearing exports declined modestly to $X in 2021. Over the period under review, exports, however, faced a sharp contraction. The growth pace was the most rapid in 2017 when exports increased by 122%. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

Austria (X kg), Belgium (X kg) and Canada (X kg) were the main destinations of bearing exports from Cuba, with a combined 98% share of total exports.

From 2012 to 2021, the biggest increases were in Canada (with a CAGR of +8.0%), while shipments for the other leaders experienced a decline.

In value terms, Belgium ($X), Austria ($X) and Canada ($X) constituted the largest markets for bearing exported from Cuba worldwide, together comprising 98% of total exports.

Among the main countries of destination, Canada, with a CAGR of +17.4%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

The average bearing export price stood at $X per ton in 2021, reducing by -39.3% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the average export price increased by 117% against the previous year. 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 Belgium ($X per ton), while the average price for exports to Austria ($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 Ecuador (+12.6%), while the prices for the other major destinations experienced more modest paces of growth.

Bearing Imports

Imports into Cuba

In 2021, overseas purchases of ball or roller bearings increased by 39% to X tons for the first time since 2016, thus ending a four-year declining trend. Overall, imports, however, showed a perceptible shrinkage. The most prominent rate of growth was recorded in 2013 with an increase of 56% against the previous year. Imports peaked at X tons in 2016; however, from 2017 to 2021, imports failed to regain momentum.

In value terms, bearing imports soared to $X in 2021. In general, imports, however, saw a drastic downturn. The pace of growth appeared the most rapid in 2013 with an increase of 38% against the previous year. Over the period under review, imports attained the maximum at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Spain (X tons), Russia (X tons) and China (X tons) were the main suppliers of bearing imports to Cuba, together comprising 69% of total imports.

From 2012 to 2021, the biggest increases were in China (with a CAGR of +18.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Spain ($X), China ($X) and Russia ($X) constituted the largest bearing suppliers to Cuba, with a combined 67% share of total imports.

Among the main suppliers, China, with a CAGR of +17.7%, saw the highest rates of growth with regard to 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 2021, the average bearing import price amounted to $X per ton, falling by -10% against the previous year. Overall, the import price saw a noticeable reduction. The most prominent rate of growth was recorded in 2019 when the average import price increased by 12%. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Canada ($X per ton), while the price for Bulgaria ($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 (+7.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

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

The countries with the highest volumes of in 2021 were China, South Africa and Japan, together comprising 84% of global consumption.

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

The country with the largest volume of bearing production was China, accounting for 74% of total volume. Moreover, bearing production in China exceeded the figures recorded by the second-largest producer, Japan, ninefold. The United States ranked third in terms of total production with a 3.4% share.

What are the leading suppliers of ball or roller bearings to Cuba?

In value terms, the largest bearing suppliers to Cuba were Spain, Russia and China, together accounting for 60% of total imports. These countries were followed by Canada, Panama, Italy, Austria, Mexico, Belarus, Ukraine and Bulgaria, which together accounted for a further 23%.

What are the leading importers of ball or roller bearings from Cuba?

In value terms, Belgium and Austria were the largest markets for bearing exported from Cuba worldwide.

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

In 2021, the average bearing export price amounted to $20,665 per ton, which is down by -36.6% against the previous year.

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

The average bearing import price stood at $18,921 per ton in 2021, falling by -6.9% against the previous year.

This report provides an in-depth analysis of the 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
Prodcom 28151053 - Tapered roller bearings (including cone and tapered roller assemblies)
Prodcom 28151055 - Spherical roller bearings
Prodcom 28151057 - Cylindrical roller bearings (excluding roller bearings, needle roller bearings)
Prodcom 28151070 - Needle roller bearings
Prodcom 28151090 - Roller bearings (including combined ball/roller bearings) (excluding tapered roller bearings, spherical roller bearings, n eedle roller 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