Dominican Republic: Roller Bearing Market 2024

Roller Bearing Market Size in the Dominican Republic

After two years of decline, the Dominican roller bearing market increased by 58% to $X in 2022. Overall, consumption saw a buoyant increase. Over the period under review, the market reached the maximum level in 2022 and is expected to retain growth in the near future.

Roller Bearing Exports

Exports from the Dominican Republic

In 2022, roller bearing exports from the Dominican Republic skyrocketed to X tons, with an increase of 145% on 2021. Over the period under review, exports, however, showed a deep slump. The pace of growth was the most pronounced in 2021 when exports increased by 3,667%. Over the period under review, the exports reached the peak figure at X tons in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, roller bearing exports dropped significantly to $X in 2022. Overall, exports, however, continue to indicate a abrupt decrease. The pace of growth was the most pronounced in 2021 when exports increased by 966%. Over the period under review, the exports attained the maximum at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

China was the largest exporter of roller bearings in the world, with the volume of exports recording X tons, which was near 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 approx. 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), Romania (X tons) and Austria (X tons) - together made up 14% of total exports.

From 2013 to 2022, average annual rates of growth with regard to roller bearing exports from China stood at +26.9%. At the same time, Indonesia (+41.9%), Turkey (+6.2%), Germany (+3.5%) and Singapore (+2.3%) displayed positive paces of growth. Moreover, Indonesia emerged as the fastest-growing exporter exported in the world, with a CAGR of +41.9% from 2013-2022. By contrast, Italy (-2.6%), Slovakia (-3.8%), Hong Kong SAR (-6.6%), France (-7.1%), South Korea (-12.1%), the United States (-19.4%), Austria (-22.1%) and Romania (-26.0%) illustrated a downward trend over the same period. From 2013 to 2022, the share of China and Indonesia increased by +38 and +2.3 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest roller bearing supplying countries from the Dominican Republic were China ($X), Singapore ($X) and Germany ($X), together comprising 45% of total exports. Italy, the United States, France, Hong Kong SAR, Slovakia, South Korea, Austria, Turkey, Indonesia and Romania lagged somewhat behind, together accounting for a further 31%.

Among the main exporting countries, Indonesia, with a CAGR of +16.9%, 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 more modest paces of growth.

Export Prices by Country

The export price in the Dominican Republic stood at $X per ton in 2022, falling by -68.5% against the previous year. Overall, the export price, however, enjoyed a perceptible increase. The most prominent rate of growth was recorded in 2018 when the export price increased by 449%. The the Dominican Republic export price peaked at $X per ton in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: 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 2013 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+18.2%), while the other leaders experienced more modest paces of growth.

Roller Bearing Imports

Imports into the Dominican Republic

In 2022, approx. X tons of roller bearings were imported into the Dominican Republic; picking up by 30% compared with 2021 figures. Overall, imports recorded buoyant growth. The most prominent rate of growth was recorded in 2016 with an increase of 236%. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the immediate term.

In value terms, roller bearing imports skyrocketed to $X in 2022. In general, imports posted resilient growth. The most prominent rate of growth was recorded in 2016 with an increase of 120% against the previous year. Over the period under review, imports hit record highs at $X in 2019; afterwards, it flattened through to 2022.

Imports by Country

Thailand (X tons) and Indonesia (X tons) represented roughly 32% of total imports in 2022. It was distantly followed by Germany (X tons), generating 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) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key 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, Indonesia ($X), Germany ($X) and India ($X) constituted the countries with the highest levels of imports in 2022, with a combined 24% share of total imports.

Among the main importing countries, Indonesia, with a CAGR of +4.2%, recorded 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 2022, the import price in the Dominican Republic amounted to $X per ton, with an increase of 47% against the previous year. In general, the import price, however, continues to indicate a deep contraction. The Dominican Republic import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: 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

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