Latin America and the Caribbean: Bearing Market 2024

Bearing Market Size in Latin America and the Caribbean

In 2022, the Latin American bearing market increased by X% to $X, rising for the second consecutive year after two years of decline. The market value increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in the near future.

Bearing Production in Latin America and the Caribbean

In value terms, bearing production contracted to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2015 with an increase of X%. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Bearing Exports

Exports in Latin America and the Caribbean

Bearing exports dropped to X tons in 2022, with a decrease of X% against 2021 figures. Over the period under review, exports showed a perceptible decrease. The most prominent rate of growth was recorded in 2021 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 stood at a somewhat lower figure.

In value terms, bearing exports rose rapidly to $X in 2022. In general, exports recorded a noticeable decrease. Over the period under review, the exports reached the peak figure at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Mexico was the key exporting country with an export of around X tons, which accounted for X% of total exports. Brazil (X tons) took a X% share (based on physical terms) of total exports, which put it in second place, followed by Panama (X%) and Argentina (X%).

Exports from Mexico decreased at an average annual rate of X% from 2012 to 2022. Brazil (X%), Panama (X%) and Argentina (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Brazil and Panama increased by X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X), Brazil ($X) and Panama ($X) constituted the countries with the highest levels of exports in 2022, together accounting for X% of total exports.

Among the main exporting countries, Panama, with a CAGR of X%, 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 in the exports figures.

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per ton, surging by X% against the previous year. Export price indicated modest growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, bearing export price decreased by X% against 2019 indices. The pace of growth appeared the most rapid in 2016 an increase of X%. Over the period under review, the export prices hit record highs at $X per ton in 2019; however, from 2020 to 2022, the export prices failed to regain momentum.

Average prices varied somewhat amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Brazil ($X per ton) and Argentina ($X per ton), while Mexico ($X per ton) and Panama ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (X%), while the other leaders experienced more modest paces of growth.

Bearing Imports

Imports in Latin America and the Caribbean

In 2022, overseas purchases of ball or roller bearings increased by X% to X tons, rising for the second year in a row after two years of decline. The total import volume increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. The volume of import peaked in 2022 and is expected to retain growth in the immediate term.

In value terms, bearing imports expanded significantly to $X in 2022. The total import value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The pace of growth was the most pronounced in 2021 with an increase of X%. The level of import peaked in 2022 and is likely to see gradual growth in the immediate term.

Imports by Country

Brazil (X tons) and Mexico (X tons) prevails in imports structure, together committing X% of total imports. It was distantly followed by Argentina (X tons), achieving a X% share of total imports. The following importers - Chile (X tons), Colombia (X tons), Peru (X tons) and Bolivia (X tons) - together made up X% of total imports.

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

In value terms, Mexico ($X), Brazil ($X) and Argentina ($X) constituted the countries with the highest levels of imports in 2022, together accounting for X% of total imports.

Mexico, with a CAGR of X%, 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

In 2022, the import price in Latin America and the Caribbean amounted to $X per ton, with an increase of X% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. Over the period under review, import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

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 Chile ($X per ton), while Bolivia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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