Ecuador: Roller Bearing Market 2024

Roller Bearing Market Size in Ecuador

The Ecuadorian roller bearing market contracted to $X in 2022, dropping by -13.3% 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). In general, consumption, however, enjoyed a buoyant increase. As a result, consumption attained the peak level of $X. From 2014 to 2022, the growth of the market failed to regain momentum.

Roller Bearing Exports

Exports from Ecuador

In 2022, the amount of roller bearings exported from Ecuador declined markedly to X tons, waning by -24.8% on the previous year. In general, exports, however, posted slight growth. The pace of growth appeared the most rapid in 2014 when exports increased by 386%. As a result, the exports reached the peak of X tons. From 2015 to 2022, the growth of the exports remained at a lower figure.

In value terms, roller bearing exports contracted significantly to $X in 2022. Over the period under review, exports, however, continue to indicate a tangible increase. The growth pace was the most rapid in 2014 with an increase of 759%. As a result, the exports reached the peak of $X. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

China was the key exporting country with an export of about X tons, which reached 43% of total exports. Singapore (X tons) took a 9.7% share (based on physical terms) of total exports, which put it in second place, followed by Germany (7.2%), France (6.9%), Slovakia (5.4%) and the United States (0.8%). The following exporters - Italy (X tons), South Korea (X tons), Indonesia (X tons), Hong Kong SAR (X tons), Turkey (X tons), Austria (X tons) and Romania (X tons) - together made up 14% of total exports.

From 2012 to 2022, average annual rates of growth with regard to roller bearing exports from China stood at +22.6%. At the same time, Indonesia (+35.7%), Turkey (+8.5%), Singapore (+1.2%) and Slovakia (+1.1%) displayed positive paces of growth. Moreover, Indonesia emerged as the fastest-growing exporter exported in the world, with a CAGR of +35.7% from 2012-2022. By contrast, Italy (-1.9%), Germany (-2.0%), France (-2.2%), South Korea (-9.7%), Hong Kong SAR (-13.7%), the United States (-18.4%), Austria (-22.3%) and Romania (-22.4%) illustrated a downward trend over the same period. China (+37 p.p.) and Indonesia (+2.2 p.p.) significantly strengthened its position in terms of the global exports, while Italy, Germany, France, Romania, Hong Kong SAR, South Korea, the United States and Austria saw its share reduced by -1.5%, -2.6%, -2.7%, -4.9%, -6%, -6.3%, -6.4% and -7.2% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest roller bearing supplying countries from Ecuador 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%.

Indonesia, with a CAGR of +16.1%, saw the highest rates of growth with regard to the value of exports, in terms of the main exporting countries 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 Ecuador stood at $X per ton in 2022, which is down by -9% against the previous year. In general, export price indicated a slight expansion from 2012 to 2022: its price increased at an average annual rate of +1.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, roller bearing export price decreased by -28.1% against 2019 indices. The pace of growth was the most pronounced in 2019 when the export price increased by 104% against the previous year. The Ecuador export price peaked at $X per ton in 2014; however, from 2015 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 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+16.3%), while the other leaders experienced more modest paces of growth.

Roller Bearing Imports

Imports into Ecuador

Roller bearing imports into Ecuador declined to X tons in 2022, waning by -12.9% against the year before. Overall, imports, however, continue to indicate a significant increase. The growth pace was the most rapid in 2013 with an increase of 839%. Over the period under review, imports reached the peak figure at X tons in 2021, and then fell in the following year.

In value terms, roller bearing imports shrank to $X in 2022. In general, imports, however, continue to indicate a buoyant increase. The pace of growth appeared the most rapid in 2013 when imports increased by 813% against the previous year. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

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), committing 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) held a minor share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading 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) were the countries with the highest levels of imports in 2022, with a combined 24% share of total imports.

Indonesia, with a CAGR of +4.2%, saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Ecuador stood at $X per ton in 2022, remaining relatively unchanged against the previous year. Over the period under review, the import price continues to indicate a abrupt descent. The most prominent rate of growth was recorded in 2020 an increase of 8.3% against the previous year. Ecuador import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, 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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