Northern America: Spherical Roller Bearing Market 2024

Spherical Roller Bearing Market Size in Northern America

The North American spherical roller bearing market expanded remarkably to $X in 2021, surging by 9.1% against the previous year. The total consumption indicated perceptible growth from 2012 to 2021: its value increased at an average annual rate of +2.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -1.5% against 2019 indices. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Spherical Roller Bearing Production in Northern America

In value terms, spherical roller bearing production declined slightly to $X in 2021 estimated in export price. The total production indicated a moderate expansion from 2012 to 2021: its value increased at an average annual rate of +2.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +127.3% against 2016 indices. The growth pace was the most rapid in 2017 with an increase of 87%. The level of production peaked at $X in 2020, and then declined in the following year.

Spherical Roller Bearing Exports

Exports in Northern America

In 2021, shipments abroad of spherical roller bearings decreased by -35.3% to X tons, falling for the fourth year in a row after three years of growth. In general, exports continue to indicate a abrupt decline. The pace of growth was the most pronounced in 2017 when exports increased by 25%. As a result, the exports reached the peak of X tons. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, spherical roller bearing exports dropped to $X in 2021. Over the period under review, exports saw a pronounced downturn. The most prominent rate of growth was recorded in 2017 when exports increased by 16% against the previous year. The level of export peaked at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The United States represented the major exporter of spherical roller bearings in Northern America, with the volume of exports reaching X tons, which was approx. 86% of total exports in 2021. It was distantly followed by Canada (X tons), mixing up a 14% share of total exports.

Exports from the United States decreased at an average annual rate of -12.6% from 2012 to 2021. Canada (-3.2%) illustrated a downward trend over the same period. Canada (+7.7 p.p.) significantly strengthened its position in terms of the total exports, while the United States saw its share reduced by -7.7% from 2012 to 2021, respectively.

In value terms, the United States ($X) remains the largest spherical roller bearing supplier in Northern America, comprising 95% of total exports. The second position in the ranking was held by Canada ($X), with a 5.4% share of total exports.

From 2012 to 2021, the average annual growth rate of value in the United States stood at -3.0%.

Export Prices by Country

In 2021, the export price in Northern America amounted to $X per ton, surging by 36% against the previous year. Over the period under review, the export price saw a buoyant expansion. The most prominent rate of growth was recorded in 2020 an increase of 87%. The level of export peaked in 2021 and is expected to retain growth in the near future.

Prices varied noticeably country of origin: the country with the highest price was the United States ($X per ton), while Canada stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+11.0%).

Spherical Roller Bearing Imports

Imports in Northern America

In 2021, supplies from abroad of spherical roller bearings was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Overall, imports, however, recorded a noticeable contraction. The pace of growth was the most pronounced in 2018 when imports increased by 36% against the previous year. As a result, imports attained the peak of X tons. From 2019 to 2021, the growth of imports remained at a lower figure.

In value terms, spherical roller bearing imports expanded remarkably to $X in 2021. In general, imports, however, recorded a noticeable setback. The most prominent rate of growth was recorded in 2018 when imports increased by 13% against the previous year. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

The United States represented the major importer of spherical roller bearings in Northern America, with the volume of imports resulting at X tons, which was approx. 75% of total imports in 2021. It was distantly followed by Canada (X tons), comprising a 25% share of total imports.

From 2012 to 2021, average annual rates of growth with regard to spherical roller bearing imports into the United States stood at -3.9%. Canada (-3.5%) illustrated a downward trend over the same period. The shares of the largest importers remained relatively stable throughout the analyzed period.

In value terms, the United States ($X) constitutes the largest market for imported spherical roller bearings in Northern America, comprising 81% of total imports. The second position in the ranking was taken by Canada ($X), with a 19% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value in the United States totaled -2.3%.

Import Prices by Country

The import price in Northern America stood at $X per ton in 2021, which is down by -2.7% against the previous year. Over the last nine years, it increased at an average annual rate of +1.0%. The most prominent rate of growth was recorded in 2020 when the import price increased by 37% against the previous year. As a result, import price reached the peak level of $X per ton, and then dropped slightly in the following year.

Average prices varied somewhat amongst the major importing countries. In 2021, the country with the highest price was the United States ($X per ton), while Canada amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+1.7%).

Source: IndexBox Platform

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