Panama: Market for Bearing Housings Incorporating Ball Or Roller Bearings 2024

Market Size for Bearing Housings Incorporating Ball Or Roller Bearings in Panama

The Panamanian market for bearing housings incorporating ball or roller bearings dropped notably to $X in 2022, which is down by -16.5% against the previous year. Overall, consumption continues to indicate a slight reduction. Bearing housing with ball bearing consumption peaked at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Production of Bearing Housings Incorporating Ball Or Roller Bearings in Panama

In value terms, bearing housing with ball bearing production declined to $X in 2022 estimated in export price. Overall, production, however, enjoyed strong growth. The most prominent rate of growth was recorded in 2013 when the production volume increased by 146% against the previous year. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Exports of Bearing Housings Incorporating Ball Or Roller Bearings

Exports from Panama

In 2022, approx. X tons of bearing housings incorporating ball or roller bearings were exported from Panama; surging by 15% against the year before. In general, exports, however, recorded a perceptible shrinkage. The pace of growth was the most pronounced in 2013 with an increase of 499%. As a result, the exports reached the peak of X tons. From 2014 to 2022, the growth of the exports failed to regain momentum.

In value terms, bearing housing with ball bearing exports rose notably to $X in 2022. Overall, exports, however, showed a perceptible downturn. The most prominent rate of growth was recorded in 2013 when exports increased by 438%. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Barbados (X tons), Jamaica (X tons) and the Dominican Republic (X tons) were the main destinations of bearing housing with ball bearing exports from Panama, with a combined 90% share of total exports. Chile, Belize and Uruguay lagged somewhat behind, together comprising a further 9.9%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Belize (with a CAGR of +66.6%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for bearing housing with ball bearing exported from Panama were Jamaica ($X), Barbados ($X) and Chile ($X), together accounting for 84% of total exports. The Dominican Republic, Uruguay and Belize lagged somewhat behind, together comprising a further 13%.

Among the main countries of destination, Belize, with a CAGR of +35.7%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average export price for bearing housings incorporating ball or roller bearings stood at $X per ton in 2022, falling by -6.4% against the previous year. Over the period under review, the export price saw a slight downturn. The most prominent rate of growth was recorded in 2018 an increase of 13% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2019 to 2022, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Uruguay ($X per ton), while the average price for exports to Belize ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Guatemala (+7.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Bearing Housings Incorporating Ball Or Roller Bearings

Imports into Panama

In 2022, overseas purchases of bearing housings incorporating ball or roller bearings decreased by -15% to X tons, falling for the third consecutive year after two years of growth. Overall, imports showed a abrupt setback. The pace of growth was the most pronounced in 2015 when imports increased by 47% against the previous year. As a result, imports attained the peak of X tons. From 2016 to 2022, the growth of imports remained at a lower figure.

In value terms, bearing housing with ball bearing imports expanded modestly to $X in 2022. Over the period under review, imports saw a perceptible descent. The most prominent rate of growth was recorded in 2015 when imports increased by 31% against the previous year. Imports peaked at $X in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Imports by Country

South Korea (X tons), Free Zones (X tons) and the United States (X tons) were the main suppliers of bearing housing with ball bearing imports to Panama, with a combined 70% share of total imports. China, Brazil, Japan and Sweden lagged somewhat behind, together accounting for a further 23%.

From 2012 to 2022, the biggest increases were recorded for Sweden (with a CAGR of +99.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest bearing housing with ball bearing suppliers to Panama were South Korea ($X), the United States ($X) and Free Zones ($X), with a combined 73% share of total imports. China, Japan, Brazil and Sweden lagged somewhat behind, together comprising a further 15%.

Among the main suppliers, Sweden, with a CAGR of +110.6%, saw the highest rates of growth with regard to 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 import price for bearing housings incorporating ball or roller bearings stood at $X per ton in 2022, with an increase of 21% against the previous year. Overall, the import price posted a prominent increase. The most prominent rate of growth was recorded in 2016 when the average import price increased by 91% against the previous year. The import price peaked at $X per ton in 2018; however, from 2019 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Brazil ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+10.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform