Mexico: Ball Bearing Parts Market 2024

Ball Bearing Parts Market Size in Mexico

In 2021, the Mexican ball bearing parts market was finally on the rise to reach $X for the first time since 2017, thus ending a three-year declining trend. Overall, consumption continues to indicate notable growth. Ball bearing parts consumption peaked at $X in 2017; however, from 2018 to 2021, consumption stood at a somewhat lower figure.

Ball Bearing Parts Production in Mexico

In value terms, ball bearing parts production rose rapidly to $X in 2021 estimated in export price. Overall, production posted a buoyant increase. The pace of growth was the most pronounced in 2016 when the production volume increased by 84%. As a result, production reached the peak level of $X. From 2017 to 2021, production growth failed to regain momentum.

Ball Bearing Parts Exports

Exports from Mexico

In 2021, overseas shipments of parts of ball or roller bearings were finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Over the period under review, exports, however, recorded a pronounced decrease. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, ball bearing parts exports soared to $X in 2021. In general, total exports indicated a modest expansion from 2012 to 2021: its value increased at an average annual rate of +1.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -26.6% against 2018 indices. The most prominent rate of growth was recorded in 2017 when exports increased by 52%. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

The United States (X tons) was the main destination for ball bearing parts exports from Mexico, with a approx. 99% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States stood at -2.5%.

In value terms, the United States ($X) also remains the key foreign market for parts of ball or roller bearings exports from Mexico.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States stood at +2.6%.

Export Prices by Country

The average ball bearing parts export price stood at $X per ton in 2021, reducing by -29.3% against the previous year. In general, the export price, however, enjoyed a noticeable increase. The growth pace was the most rapid in 2016 when the average export price increased by 91% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2018; however, from 2019 to 2021, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for the United States.

From 2012 to 2021, the rate of growth in terms of prices for the United States amounted to +5.3% per year.

Ball Bearing Parts Imports

Imports into Mexico

In 2021, supplies from abroad of parts of ball or roller bearings increased by 85% to X tons, rising for the fourth consecutive year after five years of decline. Over the period under review, imports saw a notable expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, ball bearing parts imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +3.7% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, imports attained the peak figure at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

China (X tons), South Korea (X tons) and the United States (X tons) were the main suppliers of ball bearing parts imports to Mexico, with a combined 78% share of total imports. Japan, India, Taiwan (Chinese), Brazil, Italy and Canada lagged somewhat behind, together comprising a further 20%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Taiwan (Chinese) (with a CAGR of +44.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), China ($X) and South Korea ($X) constituted the largest ball bearing parts suppliers to Mexico, together accounting for 72% of total imports. Japan, India, Taiwan (Chinese), Brazil, Italy and Canada lagged somewhat behind, together comprising a further 21%.

Among the main suppliers, Taiwan (Chinese), with a CAGR of +30.0%, recorded the highest growth rate of 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 ball bearing parts import price amounted to $X per ton, which is down by -28.5% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the average import price increased by 73% against the previous year. As a result, import price attained the peak level of $X per ton. From 2018 to 2021, the average import prices remained at a somewhat lower figure.

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 Italy ($X per ton), while the price for South Korea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+8.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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