New Zealand: Ball Bearing Parts Market 2024

Ball Bearing Parts Market Size in New Zealand

The New Zealand ball bearing parts market skyrocketed to $X in 2021, jumping by 22% 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, the total consumption indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +6.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +35.1% against 2019 indices. Over the period under review, the market hit record highs at $X in 2018; afterwards, it flattened through to 2021.

Ball Bearing Parts Exports

Exports from New Zealand

In 2021, shipments abroad of parts of ball or roller bearings decreased by -7.2% to X tons, falling for the second year in a row after two years of growth. Over the period under review, exports, however, posted a significant increase. The most prominent rate of growth was recorded in 2013 with an increase of 260%. Over the period under review, the exports attained the maximum at X tons in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

In value terms, ball bearing parts exports declined to $X in 2021. Overall, exports, however, enjoyed a buoyant increase. The most prominent rate of growth was recorded in 2013 when exports increased by 436%. The exports peaked at $X in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

Exports by Country

Australia (X tons) was the main destination for ball bearing parts exports from New Zealand, with a 68% share of total exports. Moreover, ball bearing parts exports to Australia exceeded the volume sent to the second major destination, Vanuatu (X kg), eightfold. The third position in this ranking was taken by Fiji (X kg), with a 6.2% share.

From 2012 to 2021, the average annual growth rate of volume to Australia stood at +46.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vanuatu (+57.4% per year) and Fiji (-6.5% per year).

In value terms, Australia ($X) emerged as the key foreign market for parts of ball or roller bearings exports from New Zealand, comprising 68% of total exports. The second position in the ranking was held by Vanuatu ($X), with an 8.8% share of total exports. It was followed by Fiji, with a 6.2% share.

From 2012 to 2021, the average annual growth rate of value to Australia totaled +40.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vanuatu (+39.7% per year) and Fiji (-3.1% per year).

Export Prices by Country

The average ball bearing parts export price stood at $X per ton in 2021, flattening at the previous year. In general, the export price, however, showed a slight contraction. The pace of growth appeared the most rapid in 2013 an increase of 49%. The export price peaked at $X per ton in 2015; however, from 2016 to 2021, the export prices failed to regain momentum.

Average prices varied noticeably for the major external markets. In 2021, amid the top suppliers, the highest price was recorded for prices to Vanuatu ($X per ton) and the United States ($X per ton), while the average price for exports to Australia ($X per ton) and India ($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 Fiji (+3.5%), while the prices for the other major destinations experienced mixed trend patterns.

Ball Bearing Parts Imports

Imports into New Zealand

In 2021, the amount of parts of ball or roller bearings imported into New Zealand surged to X tons, growing by 18% compared with the previous year. Overall, imports saw a strong expansion. The pace of growth was the most pronounced in 2015 when imports increased by 96% against the previous year. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, ball bearing parts imports soared to $X in 2021. The total import value increased at an average annual rate of +4.3% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, the United States (X tons) constituted the largest ball bearing parts supplier to New Zealand, accounting for a 32% share of total imports. Moreover, ball bearing parts imports from the United States exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X tons), threefold. Australia (X tons) ranked third in terms of total imports with an 8.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United States totaled +12.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+15.4% per year) and Australia (+6.2% per year).

In value terms, the United States ($X) constituted the largest supplier of parts of ball or roller bearings to New Zealand, comprising 32% of total imports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with an 11% share of total imports. It was followed by Australia, with an 8.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the United States totaled +2.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+13.3% per year) and Australia (+2.9% per year).

Import Prices by Country

The average ball bearing parts import price stood at $X per ton in 2021, surging by 3.8% against the previous year. In general, the import price, however, saw a abrupt decrease. The growth pace was the most rapid in 2018 when the average import price increased by 8.9% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the highest price was recorded for prices from Romania ($X per ton) and Australia ($X per ton), while the price for China ($X per ton) and India ($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 (+1.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :