New Zealand: Needle Roller Bearing Market 2024

Needle Roller Bearing Market Size in New Zealand

In 2021, the New Zealand needle roller bearing market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. The market value increased at an average annual rate of +5.2% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market hit record highs in 2021 and is expected to retain growth in years to come.

Needle Roller Bearing Production in New Zealand

In value terms, needle roller bearing production expanded modestly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.2% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2018 with an increase of 31% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2021, production growth remained at a lower figure.

Needle Roller Bearing Exports

Exports from New Zealand

Needle roller bearing exports from New Zealand surged to X tons in 2021, rising by 105% compared with the previous year. In general, exports posted prominent growth. The pace of growth was the most pronounced in 2018 when exports increased by 155%. The exports peaked in 2021 and are likely to see gradual growth in the immediate term.

In value terms, needle roller bearing exports skyrocketed to $X in 2021. Overall, exports showed a moderate expansion. The pace of growth was the most pronounced in 2014 with an increase of 678% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Australia (X tons) was the main destination for needle roller bearing exports from New Zealand, with a 80% share of total exports. It was followed by Switzerland (X kg), with a 2.3% share of total exports. Vanuatu (X kg) ranked third in terms of total exports with a 2.2% share.

From 2012 to 2021, the average annual growth rate of volume to Australia amounted to +6.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Switzerland (0.0% per year) and Vanuatu (+63.5% per year).

In value terms, Australia ($X) remains the key foreign market for needle roller bearing exports from New Zealand, comprising 80% of total exports. The second position in the ranking was held by Switzerland ($X), with a 2.3% share of total exports. It was followed by Vanuatu, with a 2.2% share.

From 2012 to 2021, the average annual growth rate of value to Australia amounted to +4.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Switzerland (0.0% per year) and Vanuatu (+69.0% per year).

Export Prices by Country

In 2021, the average needle roller bearing export price amounted to $X per ton, declining by -5.8% against the previous year. Over the period under review, the export price saw a noticeable setback. The most prominent rate of growth was recorded in 2014 an increase of 297%. As a result, the export price reached the peak level of $X per ton. From 2015 to 2021, the average export prices remained at a somewhat lower figure.

Average prices varied noticeably for the major overseas markets. In 2021, the highest price was recorded for prices to France ($X per ton) and Fiji ($X per ton), while the average price for exports to Australia ($X per ton) and Switzerland ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Australia (-1.4%), while the prices for the other major destinations experienced a decline.

Needle Roller Bearing Imports

Imports into New Zealand

After three years of decline, supplies from abroad of needle roller bearings increased by 118% to X tons in 2021. Over the period under review, imports continue to indicate a remarkable increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, needle roller bearing imports soared to $X in 2021. In general, total imports indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +6.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

The United States (X tons), Germany (X tons) and Japan (X tons) were the main suppliers of needle roller bearing imports to New Zealand, with a combined 71% share of total imports. These countries were followed by Australia, Singapore, Mexico, Slovakia and China, which together accounted for a further 20%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Singapore (with a CAGR of +50.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Germany ($X) and Japan ($X) were the largest needle roller bearing suppliers to New Zealand, together comprising 71% of total imports. Australia, Singapore, Mexico, Slovakia and China lagged somewhat behind, together comprising a further 20%.

In terms of the main suppliers, Singapore, with a CAGR of +39.1%, 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

The average needle roller bearing import price stood at $X per ton in 2021, growing by 3.1% against the previous year. In general, the import price, however, recorded a abrupt curtailment. The pace of growth was the most pronounced in 2013 an increase of 10%. As a result, import price reached the peak level of $X per ton. From 2014 to 2021, the average import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2021, the countries with the highest prices were Singapore ($X per ton) and Mexico ($X per ton), while the price for Germany ($X per ton) and the United States ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (-4.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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