Mexico: Ball Bearing Market 2024

Ball Bearing Market Size in Mexico

The Mexican ball bearing market rose notably to $X in 2021, surging by 13% against the previous year. Overall, consumption continues to indicate mild growth. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Ball Bearing Production in Mexico

In value terms, ball bearing production dropped slightly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2019 with an increase of 24%. Ball bearing production peaked at $X in 2020, and then dropped in the following year.

Ball Bearing Exports

Exports from Mexico

In 2021, overseas shipments of ball bearings increased by 59% to X tons, rising for the third consecutive year after three years of decline. Overall, exports showed a relatively flat trend pattern. The exports peaked at X tons in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

In value terms, ball bearing exports declined modestly to $X in 2021. In general, exports, however, recorded a slight decline. The most prominent rate of growth was recorded in 2015 with an increase of 28% against the previous year. As a result, the exports reached the peak of $X. From 2016 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The United States (X tons) was the main destination for ball bearing exports from Mexico, with a 83% share of total exports. Moreover, ball bearing exports to the United States exceeded the volume sent to the second major destination, Germany (X tons), sevenfold.

From 2012 to 2021, the average annual growth rate of volume to the United States was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+53.8% per year) and Canada (-10.9% per year).

In value terms, the United States ($X) remains the key foreign market for ball bearings exports from Mexico, comprising 73% of total exports. The second position in the ranking was held by Germany ($X), with a 17% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States stood at -2.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+49.4% per year) and Canada (-11.0% per year).

Export Prices by Country

The average ball bearing export price stood at $X per ton in 2021, waning by -39% against the previous year. Over the period under review, the export price recorded a slight curtailment. The most prominent rate of growth was recorded in 2016 an increase of 69% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2018; however, from 2019 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Canada ($X per ton), while the average price for exports to the United States ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Canada (-0.2%), while the prices for the other major destinations experienced a decline.

Ball Bearing Imports

Imports into Mexico

In 2021, overseas purchases of ball bearings were finally on the rise to reach 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 +3.8% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, ball bearing imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +3.6% 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.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of ball bearing to Mexico, with a 58% share of total imports. Moreover, ball bearing imports from China exceeded the figures recorded by the second-largest supplier, the United States (X tons), sevenfold. The third position in this ranking was taken by Japan (X tons), with a 7.7% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at +10.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-9.9% per year) and Japan (+0.1% per year).

In value terms, China ($X) constituted the largest supplier of ball bearings to Mexico, comprising 42% of total imports. The second position in the ranking was taken by the United States ($X), with a 15% share of total imports. It was followed by Japan, with a 9.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled +9.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-3.6% per year) and Japan (-1.5% per year).

Import Prices by Country

In 2021, the average ball bearing import price amounted to $X per ton, approximately reflecting the previous year. In general, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the average import price increased by 5.4% against the previous year. As a result, import price attained the peak level of $X per ton. From 2014 to 2021, the average import prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Germany ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+7.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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