Dominican Republic: Market for Bearing Housings Incorporating Ball Or Roller Bearings 2024

Market Size for Bearing Housings Incorporating Ball Or Roller Bearings in the Dominican Republic

In 2022, the Dominican market for bearing housings incorporating ball or roller bearings increased by 15% to $X, rising for the second year in a row after two years of decline. Overall, the total consumption indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +8.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +73.4% against 2020 indices. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in the immediate term.

Exports of Bearing Housings Incorporating Ball Or Roller Bearings

Exports from the Dominican Republic

In 2022, approx. X kg of bearing housings incorporating ball or roller bearings were exported from the Dominican Republic; reducing by -6.9% on the year before. Over the period under review, exports, however, continue to indicate a notable expansion. The pace of growth appeared the most rapid in 2014 with an increase of 3,400%. The exports peaked at X kg in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, bearing housing with ball bearing exports declined remarkably to $X in 2022. In general, exports, however, continue to indicate a resilient expansion. The pace of growth appeared the most rapid in 2014 with an increase of 24,600%. The exports peaked at $X in 2021, and then contracted notably in the following year.

Exports by Country

Haiti (X kg) was the main destination for bearing housing with ball bearing exports from the Dominican Republic, accounting for a 81% share of total exports. Moreover, bearing housing with ball bearing exports to Haiti exceeded the volume sent to the second major destination, the United States (X kg), fourfold.

From 2012 to 2022, the average annual growth rate of volume to Haiti totaled +68.2%.

In value terms, Haiti ($X) emerged as the key foreign market for bearing housings incorporating ball or roller bearings exports from the Dominican Republic, comprising 72% of total exports. The second position in the ranking was held by the United States ($X), with a 26% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Haiti stood at +120.1%.

Export Prices by Country

In 2022, the average export price for bearing housings incorporating ball or roller bearings amounted to $X per ton, shrinking by -41.6% against the previous year. In general, the export price, however, recorded a pronounced expansion. The most prominent rate of growth was recorded in 2014 when the average export price increased by 606%. Over the period under review, the average export prices attained the maximum at $X per ton in 2016; however, from 2017 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Haiti stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Cuba (+55.6%), 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 the Dominican Republic

After two years of growth, purchases abroad of bearing housings incorporating ball or roller bearings decreased by -5.5% to X tons in 2022. In general, imports, however, continue to indicate a prominent increase. The growth pace was the most rapid in 2021 when imports increased by 84%. As a result, imports attained the peak of X tons, and then shrank in the following year.

In value terms, bearing housing with ball bearing imports surged to $X in 2022. Overall, total imports indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +8.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +72.1% against 2020 indices. The most prominent rate of growth was recorded in 2015 with an increase of 39%. Imports peaked in 2022 and are likely to continue growth in years to come.

Imports by Country

China (X tons), the United States (X tons) and Japan (X tons) were the main suppliers of bearing housing with ball bearing imports to the Dominican Republic, with a combined 89% share of total imports. Italy and Germany lagged somewhat behind, together accounting for a further 4.7%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Italy (with a CAGR of +26.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) constituted the largest supplier of bearing housings incorporating ball or roller bearings to the Dominican Republic, comprising 64% of total imports. The second position in the ranking was held by China ($X), with a 20% share of total imports. It was followed by Japan, with a 5.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States stood at +14.7%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+3.1% per year) and Japan (+5.6% per year).

Import Prices by Country

The average import price for bearing housings incorporating ball or roller bearings stood at $X per ton in 2022, surging by 39% against the previous year. Overall, import price indicated a mild expansion from 2012 to 2022: its price increased at an average annual rate of +1.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, bearing housing with ball bearing import price decreased by -29.6% against 2019 indices. The growth pace was the most rapid in 2019 when the average import price increased by 73% against the previous year. As a result, import price attained the peak level of $X per ton. From 2020 to 2022, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for China ($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 (+6.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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