Peru: Needle Roller Bearing Market 2024

Needle Roller Bearing Market Size in Peru

The Peruvian needle roller bearing market soared to $X in 2021, picking up by 58% 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 continues to indicate a relatively flat trend pattern. Needle roller bearing consumption peaked at $X in 2019; afterwards, it flattened through to 2021.

Needle Roller Bearing Exports

Exports from Peru

Needle roller bearing exports from Peru expanded notably to X tons in 2021, rising by 6.1% on 2020 figures. In general, exports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 with an increase of 148%. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, needle roller bearing exports expanded modestly to $X in 2021. Overall, exports, however, showed a pronounced curtailment. The most prominent rate of growth was recorded in 2016 with an increase of 225% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Bolivia (X tons) was the main destination for needle roller bearing exports from Peru, with a 51% share of total exports. Moreover, needle roller bearing exports to Bolivia exceeded the volume sent to the second major destination, Panama (X kg), twofold. The third position in this ranking was held by Chile (X kg), with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Bolivia stood at +34.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Panama (+30.2% per year) and Chile (+46.7% per year).

In value terms, Bolivia ($X), Panama ($X) and Chile ($X) constituted the largest markets for needle roller bearing exported from Peru worldwide, with a combined 82% share of total exports.

Among the main countries of destination, Panama, with a CAGR of +153.0%, 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

In 2021, the average needle roller bearing export price amounted to $X per ton, dropping by -3.3% against the previous year. In general, the export price recorded a noticeable downturn. The pace of growth appeared the most rapid in 2013 when the average export price increased by 43%. Over the period under review, the average export prices reached the maximum at $X per ton in 2016; however, from 2017 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Ecuador ($X per ton), while the average price for exports to Colombia ($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 Ecuador (+7.0%), while the prices for the other major destinations experienced mixed trend patterns.

Needle Roller Bearing Imports

Imports into Peru

In 2021, needle roller bearing imports into Peru soared to X tons, picking up by 62% against the previous year's figure. Over the period under review, total imports indicated a modest increase from 2012 to 2021: its volume increased at an average annual rate of +1.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -4.5% against 2019 indices. Imports peaked at X tons in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, needle roller bearing imports surged to $X in 2021. In general, imports recorded a relatively flat trend pattern. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

The United States (X tons), Japan (X tons) and China (X tons) were the main suppliers of needle roller bearing imports to Peru, together accounting for 50% of total imports. These countries were followed by Germany, Slovakia, India and Spain, which together accounted for a further 37%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Spain (with a CAGR of +10.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Japan ($X) and Germany ($X) were the largest needle roller bearing suppliers to Peru, together accounting for 58% of total imports. These countries were followed by Slovakia, Spain, China and India, which together accounted for a further 26%.

Spain, with a CAGR of +6.8%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average needle roller bearing import price amounted to $X per ton, dropping by -4.5% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of 9.8% against the previous year. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+4.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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