New Zealand: Bearing Market 2024

Bearing Market Size in New Zealand

The New Zealand bearing market contracted markedly to $X in 2022, reducing by X% 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). In general, consumption continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the market value increased by X%. Over the period under review, the market reached the peak level at $X in 2021, and then declined significantly in the following year.

Bearing Exports

Exports from New Zealand

In 2022, overseas shipments of ball or roller bearings increased by X% to X tons, rising for the second consecutive year after two years of decline. Over the period under review, exports, however, saw a drastic downturn. The most prominent rate of growth was recorded in 2021 with an increase of X%. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, bearing exports surged to $X in 2022. Overall, exports enjoyed moderate growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Australia (X tons) was the main destination for bearing exports from New Zealand, with a X% share of total exports. Moreover, bearing exports to Australia exceeded the volume sent to the second major destination, the United States (X tons), threefold. The third position in this ranking was held by Fiji (X tons), with a X% share.

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

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

From 2012 to 2021, the average annual growth rate of value to Australia amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and Fiji (X% per year).

Export Prices by Country

In 2021, the average bearing export price amounted to $X per ton, shrinking by X% against the previous year. In general, the export price, however, saw a strong increase. The most prominent rate of growth was recorded in 2018 when the average export price increased by X% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2019 to 2021, the average export prices remained at a lower figure.

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 India ($X per ton), while the average price for exports to Samoa ($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 Australia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Bearing Imports

Imports into New Zealand

Bearing imports into New Zealand contracted sharply to X tons in 2022, with a decrease of X% on the previous year's figure. Over the period under review, imports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 when imports increased by X%. Imports peaked at X tons in 2021, and then shrank rapidly in the following year.

In value terms, bearing imports contracted notably to $X in 2022. In general, imports showed a mild shrinkage. The most prominent rate of growth was recorded in 2021 when imports increased by X%. As a result, imports attained the peak of $X, and then dropped dramatically in the following year.

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, with a combined X% share of total imports. China, Australia, Italy, France, Austria, the UK, Slovakia, Sweden, Canada and Romania lagged somewhat behind, together comprising a further X%.

From 2012 to 2021, the biggest increases were recorded for Romania (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Japan ($X) and Germany ($X) were the largest bearing suppliers to New Zealand, with a combined X% share of total imports. China, Australia, Italy, Austria, the UK, France, Canada, Sweden, Romania and Slovakia lagged somewhat behind, together accounting for a further X%.

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

Import Prices by Country

The average bearing import price stood at $X per ton in 2021, increasing by X% against the previous year. In general, the import price, however, saw a pronounced downturn. Over the period under review, average import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Canada ($X per ton), while the price for Slovakia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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