New Zealand: Bearing Market 2024

Bearing Market Size in New Zealand

The New Zealand bearing market surged to $X in 2021, growing by 20% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +4.2% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Bearing consumption peaked in 2021 and is expected to retain growth in the near future.

Bearing Exports

Exports from New Zealand

In 2021, after two years of decline, there was significant growth in overseas shipments of ball and roller bearings, when their volume increased by 63% to X tons. In general, exports, however, continue to indicate a abrupt descent. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, bearing exports surged to $X in 2021. Overall, exports, however, showed a noticeable decrease. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Australia (X kg) was the main destination for bearing exports from New Zealand, accounting for a 1.3% share of total exports. Moreover, bearing exports to Australia exceeded the volume sent to the second major destination, the United States (X kg), twofold. Myanmar (X kg) ranked third in terms of total exports with a 0.5% share.

From 2012 to 2020, the average annual rate of growth in terms of volume to Australia totaled +2.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+11.5% per year) and Myanmar (+1,546.2% per year).

In value terms, Australia ($X) remains the key foreign market for ball and roller bearings exports from New Zealand, comprising 50% of total exports. The second position in the ranking was taken by the United States ($X), with a 20% share of total exports. It was followed by Fiji, with an 8% share.

From 2012 to 2020, the average annual growth rate of value to Australia totaled +1.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+9.9% per year) and Fiji (-7.9% per year).

Export Prices by Country

In 2020, the average bearing export price amounted to $X per ton, remaining stable against the previous year. In general, the export price enjoyed a strong increase. The most prominent rate of growth was recorded in 2018 an increase of 25%. As a result, the export price attained the peak level of $X per ton. From 2019 to 2020, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was French Polynesia ($X per ton), while the average price for exports to Bangladesh ($X per ton) was amongst the lowest.

From 2012 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to French Polynesia (-1.0%), while the prices for the other major destinations experienced a decline.

Bearing Imports

Imports into New Zealand

In 2021, imports of ball and roller bearings into New Zealand skyrocketed to X tons, rising by 36% compared with the previous year. In general, total imports indicated a temperate expansion from 2012 to 2021: its volume increased at an average annual rate of +4.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +144.8% against 2019 indices. The pace of growth appeared the most rapid in 2020 with an increase of 80% against the previous year. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the near future.

In value terms, bearing imports expanded notably to $X in 2021. Over the period under review, imports showed 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

The United States (X tons), Japan (X tons) and Germany (X tons) were the main suppliers of bearing imports to New Zealand, together comprising 2% of total imports. These countries were followed by China, Australia, Canada, Italy, the UK, France, Austria, South Korea, Taiwan (Chinese) and Sweden, which together accounted for a further 1.7%.

From 2012 to 2020, the biggest increases were recorded for Canada (with a CAGR of +30.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Japan ($X) and Germany ($X) appeared to be the largest bearing suppliers to New Zealand, together comprising 53% of total imports. These countries were followed by China, Australia, Canada, Italy, the UK, France, Austria, South Korea, Taiwan (Chinese) and Sweden, which together accounted for a further 44%.

In terms of the main suppliers, Canada, with a CAGR of +24.6%, 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 2020, the average bearing import price amounted to $X per ton, with a decrease of -44.1% against the previous year. Overall, the import price recorded a mild decrease. The growth pace was the most rapid in 2019 an increase of 83%. As a result, import price attained the peak level of $X per ton, and then declined notably in the following year.

Average prices varied noticeably amongst the major supplying countries. In 2020, amid the top importers, the highest price was recorded for prices from Canada ($X per ton) and the United States ($X per ton), while the price for Sweden ($X per ton) and Austria ($X per ton) were amongst the lowest.

From 2012 to 2020, the most notable rate of growth in terms of prices was attained by Canada (-4.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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