Latin America and the Caribbean: Tapered Roller Bearing Market 2024

Tapered Roller Bearing Market Size in Latin America and the Caribbean

In 2022, the Latin American tapered roller bearing market increased by 9.7% to $X, rising for the second consecutive year after three years of decline. The market value increased at an average annual rate of +1.2% over the period from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The level of consumption peaked in 2022 and is expected to retain growth in the near future.

Tapered Roller Bearing Production in Latin America and the Caribbean

In value terms, tapered roller bearing production fell to $X in 2022 estimated in export price. In general, production continues to indicate a perceptible reduction. The pace of growth appeared the most rapid in 2014 with an increase of 19% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2022, production growth remained at a somewhat lower figure.

Tapered Roller Bearing Exports

Exports in Latin America and the Caribbean

In 2022, overseas shipments of tapered roller bearings increased by 73% to X tons, rising for the second consecutive year after seven years of decline. In general, exports, however, continue to indicate a deep contraction. The volume of export peaked at X tons in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, tapered roller bearing exports skyrocketed to $X in 2022. Overall, exports, however, recorded a deep setback. The level of export peaked at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

In 2022, Mexico (X tons) was the largest exporter of tapered roller bearings, comprising 65% of total exports. It was distantly followed by Brazil (X tons), generating a 30% share of total exports. Panama (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to tapered roller bearing exports from Mexico stood at -10.3%. Brazil (-6.4%) and Panama (-16.3%) illustrated a downward trend over the same period. While the share of Brazil (+8.4 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Panama (-3.6 p.p.) and Mexico (-6.1 p.p.) displayed negative dynamics.

In value terms, Mexico ($X), Brazil ($X) and Panama ($X) were the countries with the highest levels of exports in 2022, with a combined 97% share of total exports.

Brazil, with a CAGR of -8.5%, recorded the highest growth rate of the value of exports, among the main exporting countries 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, falling by -5.9% against the previous year. In general, the export price showed a mild setback. The most prominent rate of growth was recorded in 2014 when the export price increased by 13% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Brazil ($X per ton), while Mexico ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Panama (+0.5%), while the other leaders experienced a decline in the export price figures.

Tapered Roller Bearing Imports

Imports in Latin America and the Caribbean

In 2022, purchases abroad of tapered roller bearings increased by 9.1% to X tons, rising for the second consecutive year after two years of decline. Total imports indicated a tangible expansion from 2012 to 2022: its volume increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +77.3% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 63% against the previous year. The volume of import peaked in 2022 and is likely to see gradual growth in the immediate term.

In value terms, tapered roller bearing imports soared to $X in 2022. The total import value increased at an average annual rate of +2.1% over the period from 2012 to 2022; however, 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 41%. 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) dominates imports structure, together making up 83% of total imports. It was distantly followed by Argentina (X tons), mixing up a 6.5% share of total imports. Chile (X tons) and Colombia (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Chile (with a CAGR of +5.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest tapered roller bearing importing markets in Latin America and the Caribbean were Mexico ($X), Brazil ($X) and Argentina ($X), together comprising 83% of total imports.

Mexico, with a CAGR of +4.3%, recorded the highest rates of growth with regard to the value of imports, in terms of 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, rising by 7.9% against the previous year. Over the period under review, the import price, however, continues to indicate a noticeable decrease. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a 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 Colombia ($X per ton), while Brazil ($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 (-0.2%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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