Northern America: Tapered Roller Bearing Market 2024

Tapered Roller Bearing Market Size in Northern America

In 2022, the North American tapered roller bearing market increased by 0.3% to $X, rising for the sixth consecutive year after two years of decline. In general, consumption, however, continues to indicate prominent growth. The level of consumption peaked in 2022 and is expected to retain growth in years to come.

Tapered Roller Bearing Production in Northern America

In value terms, tapered roller bearing production shrank slightly to $X in 2022 estimated in export price. Overall, production, however, showed resilient growth. The most prominent rate of growth was recorded in 2019 when the production volume increased by 59%. As a result, production attained the peak level of $X. From 2020 to 2022, production growth failed to regain momentum.

Tapered Roller Bearing Exports

Exports in Northern America

In 2022, shipments abroad of tapered roller bearings was finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. Overall, exports, however, recorded a abrupt slump. The growth pace was the most rapid in 2017 when exports increased by 23%. Over the period under review, the exports reached the peak figure at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, tapered roller bearing exports skyrocketed to $X in 2022. In general, exports continue to indicate a relatively flat trend pattern. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States represented the major exporter of tapered roller bearings in Northern America, with the volume of exports reaching X tons, which was approx. 72% of total exports in 2022. It was distantly followed by Canada (X tons), achieving a 28% share of total exports.

Exports from the United States decreased at an average annual rate of -9.3% from 2012 to 2022. At the same time, Canada (+11.7%) displayed positive paces of growth. Moreover, Canada emerged as the fastest-growing exporter exported in Northern America, with a CAGR of +11.7% from 2012-2022. Canada (+24 p.p.) significantly strengthened its position in terms of the total exports, while the United States saw its share reduced by -23.7% from 2012 to 2022, respectively.

In value terms, the United States ($X) remains the largest tapered roller bearing supplier in Northern America, comprising 97% of total exports. The second position in the ranking was taken by Canada ($X), with a 2.9% share of total exports.

In the United States, tapered roller bearing exports remained relatively stable over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in Northern America amounted to $X per ton, picking up by 11% against the previous year. Over the period under review, the export price posted a prominent expansion. The pace of growth was the most pronounced in 2020 when the export price increased by 93%. Over the period under review, the export prices reached the maximum in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the United States ($X per ton), while Canada amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+11.3%).

Tapered Roller Bearing Imports

Imports in Northern America

In 2022, overseas purchases of tapered roller bearings increased by 8.9% to X tons, rising for the second consecutive year after two years of decline. Over the period under review, imports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when imports increased by 40% against the previous year. The volume of import peaked at X tons in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, tapered roller bearing imports soared to $X in 2022. In general, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by 32%. The level of import peaked in 2022 and is expected to retain growth in the near future.

Imports by Country

The United States represented the major importing country with an import of about X tons, which reached 83% of total imports. It was distantly followed by Canada (X tons), constituting a 17% share of total imports.

The United States experienced a relatively flat trend pattern with regard to volume of imports of tapered roller bearings. At the same time, Canada (+1.4%) displayed positive paces of growth. Moreover, Canada emerged as the fastest-growing importer imported in Northern America, with a CAGR of +1.4% from 2012-2022. Canada (+2 p.p.) significantly strengthened its position in terms of the total imports, while the United States saw its share reduced by -2% from 2012 to 2022, respectively.

In value terms, the United States ($X) constitutes the largest market for imported tapered roller bearings in Northern America, comprising 82% of total imports. The second position in the ranking was taken by Canada ($X), with an 18% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value in the United States totaled +1.5%.

Import Prices by Country

In 2022, the import price in Northern America amounted to $X per ton, with an increase of 9.6% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 an increase of 30%. As a result, import price attained the peak level of $X per ton. From 2020 to 2022, the import prices remained at a somewhat lower figure.

Average prices varied noticeably amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Canada ($X per ton), while the United States totaled $X per ton.

From 2012 to 2022, 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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