New Zealand: Tapered Roller Bearing Market 2024

Tapered Roller Bearing Market Size in New Zealand

The New Zealand tapered roller bearing market expanded markedly to $X in 2021, picking up by 6.9% 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 +4.3% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Tapered roller bearing consumption peaked in 2021 and is likely to see gradual growth in years to come.

Tapered Roller Bearing Exports

Exports from New Zealand

In 2021, the amount of tapered roller bearings exported from New Zealand surged to X tons, growing by 52% on 2020. In general, exports, however, showed a drastic downturn. The most prominent rate of growth was recorded in 2013 when exports increased by 63% against the previous year. As a result, the exports reached the peak of X tons. From 2014 to 2021, the growth of the exports remained at a lower figure.

In value terms, tapered roller bearing exports skyrocketed to $X in 2021. Over the period under review, exports, however, continue to indicate a pronounced descent. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Australia (X tons) was the main destination for tapered roller bearing exports from New Zealand, accounting for a 78% share of total exports. Moreover, tapered roller bearing exports to Australia exceeded the volume sent to the second major destination, Fiji (X tons), sixfold. The third position in this ranking was taken by Samoa (X kg), with a 2.3% share.

From 2012 to 2021, the average annual growth rate of volume to Australia totaled -12.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Fiji (+1.0% per year) and Samoa (+36.2% per year).

In value terms, Australia ($X) remains the key foreign market for tapered roller bearings exports from New Zealand, comprising 78% of total exports. The second position in the ranking was taken by Fiji ($X), with a 12% share of total exports. It was followed by Samoa, with a 2.3% share.

From 2012 to 2021, the average annual growth rate of value to Australia amounted to -3.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Fiji (-4.5% per year) and Samoa (+15.4% per year).

Export Prices by Country

The average tapered roller bearing export price stood at $X per ton in 2021, growing by 2.4% against the previous year. Over the period under review, the export price recorded a strong increase. The most prominent rate of growth was recorded in 2015 when the average export price increased by 92% against the previous year. The export price peaked at $X per ton in 2019; however, from 2020 to 2021, the export prices failed to regain momentum.

Average prices varied noticeably for the major overseas markets. In 2021, the highest price was recorded for prices to Vanuatu ($X per ton) and Samoa ($X per ton), while the average price for exports to Australia ($X per ton) and Fiji ($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 (+10.2%), while the prices for the other major destinations experienced a decline.

Tapered Roller Bearing Imports

Imports into New Zealand

Tapered roller bearing imports into New Zealand expanded markedly to X tons in 2021, surging by 9% against the year before. Over the period under review, total imports indicated strong growth from 2012 to 2021: its volume increased at an average annual rate of +7.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +28.7% against 2017 indices. The pace of growth was the most pronounced in 2013 with an increase of 36% against the previous year. Over the period under review, imports attained the peak figure in 2021 and are likely to continue growth in the near future.

In value terms, tapered roller bearing imports rose sharply to $X in 2021. In general, imports, however, showed a mild slump. The most prominent rate of growth was recorded in 2013 with an increase of 11% against the previous year. As a result, imports reached the peak of $X. From 2014 to 2021, the growth of imports remained at a lower figure.

Imports by Country

Japan (X tons), the United States (X tons) and Australia (X tons) were the main suppliers of tapered roller bearing imports to New Zealand, with a combined 53% share of total imports. China, Germany, the UK, India, Romania, France, Poland, Italy and Austria lagged somewhat behind, together comprising a further 40%.

From 2012 to 2021, the biggest increases were recorded for Romania (with a CAGR of +57.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest tapered roller bearing suppliers to New Zealand were Japan ($X), the United States ($X) and Australia ($X), together accounting for 53% of total imports. These countries were followed by China, Germany, the UK, India, Romania, France, Poland, Italy and Austria, which together accounted for a further 40%.

Among the main suppliers, Romania, with a CAGR of +30.9%, saw 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 tapered roller bearing import price stood at $X per ton in 2021, shrinking by -1.7% against the previous year. Overall, the import price saw a deep downturn. The pace of growth appeared the most rapid in 2017 when the average import price increased by 2.7%. Over the period under review, average import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2021, the countries with the highest prices were Romania ($X per ton) and Poland ($X per ton), while the price for France ($X per ton) and China ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (-1.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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