Ecuador: Bearing Market 2024

Bearing Market Size in Ecuador

The Ecuadorian bearing market dropped rapidly to $X in 2022, declining by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption showed a mild curtailment. As a result, consumption attained the peak level of $X, and then shrank significantly in the following year.

Bearing Exports

Exports from Ecuador

In 2022, bearing exports from Ecuador dropped to X tons, approximately equating the previous year. Overall, exports recorded a deep slump. The most prominent rate of growth was recorded in 2013 when exports increased by X%. Over the period under review, the exports attained the maximum at X tons in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, bearing exports contracted to $X in 2022. Over the period under review, exports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

Exports by Country

Brazil (X tons) was the main destination for bearing exports from Ecuador, with a X% share of total exports. Moreover, bearing exports to Brazil exceeded the volume sent to the second major destination, the United States (X tons), threefold. Colombia (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Brazil totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and Colombia (X% per year).

In value terms, the largest markets for bearing exported from Ecuador were Chile ($X), the United States ($X) and Colombia ($X), with a combined X% share of total exports.

Chile, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average bearing export price amounted to $X per ton, growing by X% against the previous year. In general, export price indicated strong growth from 2012 to 2021: its price increased at an average annual rate of X% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, bearing export price increased by X% against 2018 indices. The most prominent rate of growth was recorded in 2014 when the average export price increased by X% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2015 to 2021, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Peru ($X per ton), while the average price for exports to Spain ($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 Bolivia (X.9%), while the prices for the other major destinations experienced more modest paces of growth.

Bearing Imports

Imports into Ecuador

Bearing imports into Ecuador dropped sharply to X tons in 2022, waning by X% against 2021. In general, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by X%. As a result, imports reached the peak of X tons, and then declined rapidly in the following year.

In value terms, bearing imports dropped rapidly to $X in 2022. Overall, imports showed a slight decrease. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. As a result, imports reached the peak of $X, and then fell significantly in the following year.

Imports by Country

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

From 2012 to 2021, the average annual growth rate of volume from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (X% per year) and the United States (X% per year).

In value terms, the largest bearing suppliers to Ecuador were China ($X), Japan ($X) and the United States ($X), with a combined X% share of total imports. Germany, South Korea, Italy and Panama lagged somewhat behind, together comprising a further X%.

Italy, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers 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, which is down by X% against the previous year. In general, the import price showed a noticeable setback. The most prominent rate of growth was recorded in 2020 when the average import price increased by X%. The import price peaked at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per ton), while the price for China ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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