Peru: Tools For Bearing Market 2024

Tools For Bearing Market Size in Peru

The Peruvian tools for bearing market reduced dramatically to $X in 2022, falling by -16.8% 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). In general, consumption showed a abrupt descent. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market remained at a somewhat lower figure.

Tools For Bearing Exports

Exports from Peru

In 2022, exports of balls, needles and rollers for ball or roller bearings from Peru expanded sharply to X tons, surging by 6.8% on 2021 figures. Overall, exports continue to indicate strong growth. The most prominent rate of growth was recorded in 2015 with an increase of 467%. The exports peaked at X tons in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, tools for bearing exports shrank dramatically to $X in 2022. In general, exports showed a significant increase. The pace of growth was the most pronounced in 2015 when exports increased by 498%. The exports peaked at $X in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Chile (X kg) was the main destination for tools for bearing exports from Peru, accounting for a 39% share of total exports. Moreover, tools for bearing exports to Chile exceeded the volume sent to the second major destination, Panama (X kg), threefold. The third position in this ranking was taken by the United States (X kg), with an 8% share.

From 2012 to 2022, the average annual growth rate of volume to Chile amounted to +79.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Panama (+2.1% per year) and the United States (+46.8% per year).

In value terms, Chile ($X) emerged as the key foreign market for balls, needles and rollers for ball or roller bearings exports from Peru, comprising 28% of total exports. The second position in the ranking was held by the United States ($X), with a 10% share of total exports. It was followed by Panama, with an 8.3% share.

From 2012 to 2022, the average annual growth rate of value to Chile amounted to +74.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+39.3% per year) and Panama (+17.2% per year).

Export Prices by Country

In 2022, the average tools for bearing export price amounted to $X per ton, with a decrease of -35.1% against the previous year. Over the period under review, export price indicated a perceptible expansion from 2012 to 2022: its price increased at an average annual rate of +3.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 an increase of 57%. The export price peaked at $X per ton in 2021, and then declined notably in the following year.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Suriname ($X per ton), while the average price for exports to Zambia ($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 Haiti (+32.9%), while the prices for the other major destinations experienced more modest paces of growth.

Tools For Bearing Imports

Imports into Peru

In 2022, approx. X tons of balls, needles and rollers for ball or roller bearings were imported into Peru; declining by -18.4% on 2021 figures. Over the period under review, imports recorded a pronounced setback. The most prominent rate of growth was recorded in 2019 with an increase of 81% against the previous year. As a result, imports reached the peak of X tons. From 2020 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, tools for bearing imports dropped sharply to $X in 2022. In general, imports recorded a deep slump. The most prominent rate of growth was recorded in 2019 when imports increased by 94% against the previous year. As a result, imports reached the peak of $X. From 2020 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, Chile (X tons) constituted the largest tools for bearing supplier to Peru, accounting for a 34% share of total imports. Moreover, tools for bearing imports from Chile exceeded the figures recorded by the second-largest supplier, Bulgaria (X tons), twofold. Taiwan (Chinese) (X tons) ranked third in terms of total imports with a 13% share.

From 2012 to 2022, the average annual growth rate of volume from Chile amounted to +1.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Bulgaria (+35.9% per year) and Taiwan (Chinese) (+5.6% per year).

In value terms, the United States ($X), Chile ($X) and Bulgaria ($X) appeared to be the largest tools for bearing suppliers to Peru, together comprising 53% of total imports.

In terms of the main suppliers, Bulgaria, with a CAGR of +21.2%, 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 tools for bearing import price stood at $X per ton in 2022, growing by 3.4% against the previous year. In general, the import price, however, continues to indicate a noticeable curtailment. The pace of growth was the most pronounced in 2016 an increase of 9.4%. As a result, import price reached the peak level of $X per ton. From 2017 to 2022, the average import prices remained at a 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 ($X per ton), while the price for Belgium ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+7.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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