Latin America and the Caribbean: Spherical Roller Bearing Market 2024

Spherical Roller Bearing Market Size in Latin America and the Caribbean

In 2021, the Latin American spherical roller bearing market was finally on the rise to reach $X after two years of decline. The market value increased at an average annual rate of +1.2% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Spherical Roller Bearing Production in Latin America and the Caribbean

In value terms, spherical roller bearing production declined to $X in 2021 estimated in export price. Overall, production, however, continues to indicate a resilient expansion. The growth pace was the most rapid in 2020 with an increase of 33% against the previous year. As a result, production reached the peak level of $X, and then reduced in the following year.

Spherical Roller Bearing Exports

Exports in Latin America and the Caribbean

Spherical roller bearing exports declined significantly to X tons in 2021, waning by -51.5% on 2020. Over the period under review, exports showed a abrupt decrease. The growth pace was the most rapid in 2019 with an increase of 57% against the previous year. The volume of export peaked at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, spherical roller bearing exports declined significantly to $X in 2021. Overall, exports continue to indicate a abrupt decrease. The pace of growth appeared the most rapid in 2019 when exports increased by 40%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Brazil represented the key exporting country with an export of about X tons, which finished at 48% of total exports. It was distantly followed by Mexico (X tons), Peru (X tons), Costa Rica (X tons) and Guatemala (X tons), together achieving a 42% share of total exports. The following exporters - Argentina (X tons) and Panama (X tons) - each accounted for a 5.9% share of total exports.

Exports from Brazil decreased at an average annual rate of -1.9% from 2012 to 2021. At the same time, Peru (+40.1%), Costa Rica (+14.4%), Argentina (+7.2%) and Guatemala (+3.3%) displayed positive paces of growth. Moreover, Peru emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +40.1% from 2012-2021. By contrast, Mexico (-16.8%) and Panama (-39.0%) illustrated a downward trend over the same period. While the share of Brazil (+35 p.p.), Peru (+7.1 p.p.), Costa Rica (+5.8 p.p.), Guatemala (+4.8 p.p.) and Argentina (+2.7 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Mexico (-4.6 p.p.) and Panama (-51.7 p.p.) displayed negative dynamics.

In value terms, Brazil ($X) emerged as the largest spherical roller bearing supplier in Latin America and the Caribbean, comprising 54% of total exports. The second position in the ranking was held by Mexico ($X), with a 19% share of total exports. It was followed by Peru, with a 6.9% share.

In Brazil, spherical roller bearing exports decreased by an average annual rate of -2.4% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Mexico (-19.8% per year) and Peru (+37.7% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2021, growing by 15% against the previous year. Overall, the export price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 an increase of 19%. As a result, the export price reached the peak level of $X per ton. From 2018 to 2021, the export prices remained at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was Guatemala ($X per ton), while Argentina ($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 (+5.9%), while the other leaders experienced mixed trends in the export price figures.

Spherical Roller Bearing Imports

Imports in Latin America and the Caribbean

In 2021, overseas purchases of spherical roller bearings increased by 32% to X tons for the first time since 2018, thus ending a two-year declining trend. The total import volume increased at an average annual rate of +1.6% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, spherical roller bearing imports surged to $X in 2021. Overall, imports continue to indicate a relatively flat trend pattern. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Brazil dominates imports structure, accounting for X tons, which was near 61% of total imports in 2021. It was distantly followed by Mexico (X tons), Chile (X tons), Peru (X tons) and Argentina (X tons), together generating a 30% share of total imports. Colombia (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to spherical roller bearing imports into Brazil stood at +3.4%. At the same time, Chile (+7.1%) and Peru (+4.5%) displayed positive paces of growth. Moreover, Chile emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +7.1% from 2012-2021. Colombia and Argentina experienced a relatively flat trend pattern. By contrast, Mexico (-3.8%) illustrated a downward trend over the same period. Brazil (+8.9 p.p.) and Chile (+3.5 p.p.) significantly strengthened its position in terms of the total imports, while Mexico saw its share reduced by -6.1% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) constitutes the largest market for imported spherical roller bearings in Latin America and the Caribbean, comprising 49% of total imports. The second position in the ranking was taken by Mexico ($X), with an 18% share of total imports. It was followed by Chile, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Brazil stood at +1.7%. The remaining importing countries recorded the following average annual rates of imports growth: Mexico (-1.8% per year) and Chile (+5.6% per year).

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per ton in 2021, with an increase of 5% against the previous year. Over the period under review, the import price, however, continues to indicate a mild downturn. Over the period under review, import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mexico (+2.1%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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