New Zealand: Market for Bearing Housings Incorporating Ball Or Roller Bearings 2024

Market Size for Bearing Housings Incorporating Ball Or Roller Bearings in New Zealand

The New Zealand market for bearing housings incorporating ball or roller bearings surged to $X in 2022, growing by 37% 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). Over the period under review, consumption continues to indicate a resilient expansion. Bearing housing with ball bearing consumption peaked in 2022 and is expected to retain growth in the near future.

Exports of Bearing Housings Incorporating Ball Or Roller Bearings

Exports from New Zealand

In 2022, the amount of bearing housings incorporating ball or roller bearings exported from New Zealand skyrocketed to X tons, jumping by 295% compared with 2021 figures. Over the period under review, exports recorded a prominent increase. The pace of growth appeared the most rapid in 2018 with an increase of 746%. The exports peaked at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, bearing housing with ball bearing exports surged to $X in 2022. Overall, exports posted a remarkable increase. The growth pace was the most rapid in 2018 when exports increased by 800% against the previous year. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Australia (X tons) was the main destination for bearing housing with ball bearing exports from New Zealand, accounting for a 72% share of total exports. Moreover, bearing housing with ball bearing exports to Australia exceeded the volume sent to the second major destination, the United States (X tons), fivefold. The UK (X tons) ranked third in terms of total exports with a 5.1% share.

From 2012 to 2022, the average annual growth rate of volume to Australia totaled +14.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+7.1% per year) and the UK (+58.7% per year).

In value terms, Australia ($X) remains the key foreign market for bearing housings incorporating ball or roller bearings exports from New Zealand, comprising 72% of total exports. The second position in the ranking was taken by the United States ($X), with a 14% share of total exports. It was followed by the UK, with a 5.1% share.

From 2012 to 2022, the average annual growth rate of value to Australia totaled +18.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+2.7% per year) and the UK (+59.8% per year).

Export Prices by Country

In 2022, the average export price for bearing housings incorporating ball or roller bearings amounted to $X per ton, increasing by 10% against the previous year. Over the period under review, the export price, however, showed a mild contraction. The pace of growth appeared the most rapid in 2014 an increase of 40%. Over the period under review, the average export prices hit record highs at $X per ton in 2015; however, from 2016 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the highest price was recorded for prices to the United States ($X per ton) and Australia ($X per ton), while the average price for exports to Sweden ($X per ton) and the UK ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Australia (+3.1%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Bearing Housings Incorporating Ball Or Roller Bearings

Imports into New Zealand

In 2022, the amount of bearing housings incorporating ball or roller bearings imported into New Zealand skyrocketed to X tons, growing by 50% on the previous year's figure. In general, imports showed strong growth. The pace of growth appeared the most rapid in 2015 with an increase of 74% against the previous year. Imports peaked in 2022 and are likely to continue growth in years to come.

In value terms, bearing housing with ball bearing imports surged to $X in 2022. Over the period under review, imports recorded a prominent increase. The pace of growth was the most pronounced in 2016 with an increase of 38% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to see gradual growth in years to come.

Imports by Country

China (X tons), Australia (X tons) and the United States (X tons) were the main suppliers of bearing housing with ball bearing imports to New Zealand, together accounting for 68% of total imports. Japan, Germany, Taiwan (Chinese) and Vietnam lagged somewhat behind, together accounting for a further 21%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Vietnam (with a CAGR of +34.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest bearing housing with ball bearing suppliers to New Zealand were China ($X), Australia ($X) and the United States ($X), together comprising 68% of total imports. Japan, Germany, Taiwan (Chinese) and Vietnam lagged somewhat behind, together comprising a further 21%.

In terms of the main suppliers, Vietnam, with a CAGR of +43.1%, 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 2022, the average import price for bearing housings incorporating ball or roller bearings amounted to $X per ton, with a decrease of -12.5% against the previous year. In general, the import price recorded a drastic downturn. The most prominent rate of growth was recorded in 2021 when the average import price increased by 11% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Vietnam ($X per ton) and Australia ($X per ton), while the price for China ($X per ton) and Germany ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+6.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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