Latin America and the Caribbean: Roller Bearing Market 2022

Roller Bearing Market Size in Latin America and the Caribbean

After two years of decline, the Latin American roller bearing market increased by 2.7% to $X in 2021. The total consumption indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +6.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the maximum level at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Roller Bearing Production in Latin America and the Caribbean

In value terms, roller bearing production fell slightly to $X in 2021 estimated in export price. Over the period under review, production enjoyed a strong increase. The growth pace was the most rapid in 2017 when the production volume increased by 33%. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Roller Bearing Exports

Exports in Latin America and the Caribbean

In 2021, overseas shipments of roller bearings increased by 41% to X tons for the first time since 2017, thus ending a three-year declining trend. Over the period under review, exports, however, saw a deep reduction. The volume of export peaked at X tons in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

In value terms, roller bearing exports declined dramatically to $X in 2021. Overall, exports, however, recorded a deep slump. The most prominent rate of growth was recorded in 2014 when exports increased by 9.1%. Over the period under review, the exports hit record highs at $X in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

Exports by Country

In 2021, Guatemala (X tons) and Mexico (X tons) were the major exporters of roller bearings in Latin America and the Caribbean, together committing 63% of total exports. Brazil (X tons) ranks next in terms of the total exports with a 16% share, followed by Panama (8.4%). The following exporters - Uruguay (X tons), Peru (X tons) and El Salvador (X tons) - each resulted at a 6.7% share of total exports.

From 2012 to 2021, the biggest increases were in Uruguay (with a CAGR of +31.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X), Brazil ($X) and Guatemala ($X) appeared to be the countries with the highest levels of exports in 2021, together accounting for 79% of total exports.

In terms of the main exporting countries, Guatemala, with a CAGR of +19.9%, 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

In 2021, the export price in Latin America and the Caribbean amounted to $X per ton, waning by -46.8% against the previous year. Overall, the export price showed a perceptible downturn. The most prominent rate of growth was recorded in 2016 when the export price increased by 30% against the previous year. Over the period under review, the export prices reached the maximum at $X per ton in 2019; however, from 2020 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Brazil ($X per ton), while Uruguay ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Guatemala (+3.1%), while the other leaders experienced a decline in the export price figures.

Roller Bearing Imports

Imports in Latin America and the Caribbean

Roller bearing imports skyrocketed to X tons in 2021, jumping by 18% against the year before. In general, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 24% against the previous year. The volume of import peaked at X tons in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

In value terms, roller bearing imports surged to $X in 2021. Overall, imports, however, continue to indicate a relatively flat trend pattern. Over the period under review, imports attained the peak figure at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Mexico (X tons), distantly followed by Brazil (X tons), Peru (X tons), Argentina (X tons) and Chile (X tons) were the largest importers of roller bearings, together making up 66% of total imports. The following importers - Guatemala (X tons), Ecuador (X tons), Bolivia (X tons), Colombia (X tons), Panama (X tons), Guyana (X tons), Costa Rica (X tons) and Jamaica (X tons) - together made up 24% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Ecuador (with a CAGR of +30.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X) constitutes the largest market for imported roller bearings in Latin America and the Caribbean, comprising 32% of total imports. The second position in the ranking was held by Brazil ($X), with a 16% share of total imports. It was followed by Chile, with a 9.1% share.

In Mexico, roller bearing imports remained relatively stable over the period from 2012-2021. In the other countries, the average annual rates were as follows: Brazil (-5.1% per year) and Chile (+2.1% per year).

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per ton in 2021, increasing by 4.2% against the previous year. Overall, the import price, however, continues to indicate a mild slump. The most prominent rate of growth was recorded in 2016 when the import price increased by 21%. The level of import peaked at $X per ton in 2017; however, from 2018 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Chile ($X per ton), while Bolivia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Guatemala (+7.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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