Peru: Ball Bearing Market 2024

Ball Bearing Market Size in Peru

In 2021, the Peruvian ball bearing market decreased by -9.2% to $X, falling for the second year in a row after five years of growth. Over the period under review, consumption continues to indicate a pronounced decline. Ball bearing consumption peaked at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Ball Bearing Exports

Exports from Peru

Ball bearing exports from Peru contracted modestly to X tons in 2021, flattening at the previous year. Overall, exports, however, enjoyed a resilient increase. The pace of growth was the most pronounced in 2014 with an increase of 576% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

In value terms, ball bearing exports surged to $X in 2021. Over the period under review, exports, however, showed a prominent expansion. The growth pace was the most rapid in 2014 when exports increased by 455%. Over the period under review, the exports hit record highs at $X in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

Exports by Country

Chile (X tons), Bolivia (X tons) and Colombia (X tons) were the main destinations of ball bearing exports from Peru, together accounting for 80% of total exports. Panama, Guyana, the United States and Ecuador lagged somewhat behind, together accounting for a further 11%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Guyana (with a CAGR of +63.6%), while the other leaders experienced more modest paces of growth.

In value terms, Bolivia ($X), Chile ($X) and Colombia ($X) appeared to be the largest markets for ball bearing exported from Peru worldwide, with a combined 76% share of total exports. These countries were followed by Panama, Guyana, the United States and Ecuador, which together accounted for a further 12%.

Among the main countries of destination, Guyana, with a CAGR of +76.1%, recorded 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 ball bearing export price stood at $X per ton in 2021, growing by 21% against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 an increase of 32% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Colombia ($X per ton), while the average price for exports to Ecuador ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Colombia (+16.3%), while the prices for the other major destinations experienced more modest paces of growth.

Ball Bearing Imports

Imports into Peru

In 2021, overseas purchases of ball bearings decreased by -0.1% to X tons, falling for the second consecutive year after five years of growth. Over the period under review, imports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 when imports increased by 13%. Over the period under review, imports attained the peak figure at X tons in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, ball bearing imports reduced to $X in 2021. Overall, imports recorded a noticeable downturn. The growth pace was the most rapid in 2018 with an increase of 11%. Over the period under review, imports attained the peak figure at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest ball bearing supplier to Peru, accounting for a 59% share of total imports. Moreover, ball bearing imports from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), fourfold. Italy (X tons) ranked third in terms of total imports with a 4.2% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to +1.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-4.3% per year) and Italy (+1.9% per year).

In value terms, China ($X), Japan ($X) and the United States ($X) were the largest ball bearing suppliers to Peru, with a combined 62% share of total imports. These countries were followed by Italy, Germany, France, South Korea, Austria and India, which together accounted for a further 26%.

In terms of the main suppliers, India, with a CAGR of +0.6%, 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 a decline.

Import Prices by Country

In 2021, the average ball bearing import price amounted to $X per ton, with a decrease of -12.5% against the previous year. In general, the import price continues to indicate a pronounced reduction. The most prominent rate of growth was recorded in 2013 when the average import price increased by 14%. Over the period under review, average import prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the United States ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+1.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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