Latin America and the Caribbean: Needle Roller Bearing Market 2024

Needle Roller Bearing Market Size in Latin America and the Caribbean

In 2022, the Latin American needle roller bearing market increased by 3.5% to $X, rising for the second consecutive year after three years of decline. In general, consumption, however, saw a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2018 to 2022, the growth of the market remained at a somewhat lower figure.

Needle Roller Bearing Production in Latin America and the Caribbean

In value terms, needle roller bearing production reached $X in 2022 estimated in export price. Overall, production recorded a perceptible contraction. The pace of growth appeared the most rapid in 2016 when the production volume increased by 9.2% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Needle Roller Bearing Exports

Exports in Latin America and the Caribbean

In 2022, the amount of needle roller bearings exported in Latin America and the Caribbean contracted to X tons, approximately reflecting 2021 figures. Over the period under review, exports, however, recorded strong growth. The most prominent rate of growth was recorded in 2021 when exports increased by 203%. As a result, the exports attained the peak of X tons, leveling off in the following year.

In value terms, needle roller bearing exports totaled $X in 2022. Total exports indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +5.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +72.7% against 2020 indices. The pace of growth was the most pronounced in 2021 when exports increased by 58% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

Mexico was the major exporting country with an export of about X tons, which reached 89% of total exports. It was distantly followed by Brazil (X tons), mixing up an 11% share of total exports.

Mexico was also the fastest-growing in terms of the needle roller bearings exports, with a CAGR of +9.0% from 2012 to 2022. Brazil (-2.1%) illustrated a downward trend over the same period. Mexico (+18 p.p.) significantly strengthened its position in terms of the total exports, while Brazil saw its share reduced by -14.3% from 2012 to 2022, respectively.

In value terms, Mexico ($X) remains the largest needle roller bearing supplier in Latin America and the Caribbean, comprising 82% of total exports. The second position in the ranking was held by Brazil ($X), with a 17% share of total exports.

In Mexico, needle roller bearing exports increased at an average annual rate of +9.3% over the period from 2012-2022.

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2022, rising by 10% against the previous year. Overall, the export price, however, continues to indicate a slight reduction. The pace of growth was the most pronounced in 2016 an increase of 59% against the previous year. The level of export peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Brazil ($X per ton), while Mexico amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+0.3%).

Needle Roller Bearing Imports

Imports in Latin America and the Caribbean

In 2022, purchases abroad of needle roller bearings increased by 5.2% to X tons, rising for the second consecutive year after three years of decline. In general, imports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when imports increased by 39%. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the immediate term.

In value terms, needle roller bearing imports reached $X in 2022. The total import value increased at an average annual rate of +3.4% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 with an increase of 23% against the previous year. The level of import peaked in 2022 and is likely to see steady growth in the near future.

Imports by Country

Mexico was the key importing country with an import of about X tons, which finished at 69% of total imports. It was distantly followed by Brazil (X tons), committing a 22% share of total imports. Argentina (X tons) held a minor share of total imports.

Imports into Mexico increased at an average annual rate of +1.0% from 2012 to 2022. At the same time, Brazil (+2.1%) displayed positive paces of growth. Moreover, Brazil emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +2.1% from 2012-2022. By contrast, Argentina (-7.8%) illustrated a downward trend over the same period. Brazil (+3.1 p.p.) and Mexico (+3.1 p.p.) significantly strengthened its position in terms of the total imports, while Argentina saw its share reduced by -5.7% from 2012 to 2022, respectively.

In value terms, Mexico ($X) constitutes the largest market for imported needle roller bearings in Latin America and the Caribbean, comprising 70% of total imports. The second position in the ranking was held by Brazil ($X), with a 21% share of total imports.

From 2012 to 2022, the average annual growth rate of value in Mexico amounted to +7.3%. In the other countries, the average annual rates were as follows: Brazil (-0.9% per year) and Argentina (-7.6% per year).

Import Prices by Country

In 2022, the import price in Latin America and the Caribbean amounted to $X per ton, shrinking by -3.8% against the previous year. Over the last decade, it increased at an average annual rate of +2.8%. The most prominent rate of growth was recorded in 2014 an increase of 17% against the previous year. The level of import peaked at $X per ton in 2020; however, from 2021 to 2022, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Mexico ($X per ton), while Argentina ($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 (+6.2%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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