Mexico: Bearing Market 2024

Bearing Market Size in Mexico

The Mexican bearing market expanded sharply to $X in 2022, with an increase of X% against the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs in 2022 and is likely to see gradual growth in the immediate term.

Bearing Production in Mexico

In value terms, bearing production reduced to $X in 2022 estimated in export price. Overall, production, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of X%. Over the period under review, production attained the maximum level at $X in 2019; afterwards, it flattened through to 2022.

Bearing Exports

Exports from Mexico

In 2022, exports of ball or roller bearings from Mexico dropped markedly to X tons, reducing by X% compared with the year before. Over the period under review, exports continue to indicate a deep contraction. The pace of growth was the most pronounced in 2021 with an increase of X%. The exports peaked at X tons in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, bearing exports reached $X in 2022. Overall, exports continue to indicate a pronounced descent. The growth pace was the most rapid in 2014 with an increase of X% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X tons) was the main destination for bearing exports from Mexico, accounting for a X% share of total exports. Moreover, bearing exports to the United States exceeded the volume sent to the second major destination, Germany (X tons), more than tenfold. The third position in this ranking was taken by Canada (X tons), with a X% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (X% per year) and Canada (X% per year).

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

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

Export Prices by Country

In 2021, the average bearing export price amounted to $X per ton, which is down by X% against the previous year. In general, the export price saw a slight decline. The pace of growth appeared the most rapid in 2016 an increase of X%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2020, and then fell sharply in the following year.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to the United States ($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 Germany (X%), while the prices for the other major destinations experienced more modest paces of growth.

Bearing Imports

Imports into Mexico

In 2022, overseas purchases of ball or roller bearings increased by X% to X tons, rising for the second year in a row after two years of decline. The total import volume increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, bearing imports stood at $X in 2022. The total import value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in the near future.

Imports by Country

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

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and Japan (X% per year).

In value terms, the largest bearing suppliers to Mexico were China ($X), the United States ($X) and Japan ($X), together accounting for X% of total imports. Germany, South Korea, India and Italy lagged somewhat behind, together comprising a further X%.

In terms of the main suppliers, India, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average bearing import price amounted to $X per ton, leveling off at the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 an increase of X% against the previous year. The import price peaked in 2021 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, 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 Germany (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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