Peru: Tapered Roller Bearing Market 2024

Tapered Roller Bearing Market Size in Peru

The Peruvian tapered roller bearing market skyrocketed to $X in 2021, increasing by 40% 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). Overall, the total consumption indicated a moderate expansion from 2012 to 2021: its value increased at an average annual rate of +2.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Tapered Roller Bearing Exports

Exports from Peru

In 2021, shipments abroad of tapered roller bearings decreased by -21.3% to X tons, falling for the third year in a row after three years of growth. Overall, exports, however, saw buoyant growth. The most prominent rate of growth was recorded in 2014 when exports increased by 1,622%. The exports peaked at X tons in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, tapered roller bearing exports declined modestly to $X in 2021. Over the period under review, exports, however, saw prominent growth. The pace of growth was the most pronounced in 2014 with an increase of 885%. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

Denmark (X tons) was the main destination for tapered roller bearing exports from Peru, accounting for a 69% share of total exports. Moreover, tapered roller bearing exports to Denmark exceeded the volume sent to the second major destination, Chile (X tons), fourfold. Panama (X kg) ranked third in terms of total exports with a 3.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Denmark stood at +6.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Chile (+37.3% per year) and Panama (-20.8% per year).

In value terms, Denmark ($X) emerged as the key foreign market for tapered roller bearings exports from Peru, comprising 71% of total exports. The second position in the ranking was taken by Chile ($X), with a 12% share of total exports. It was followed by Panama, with a 2.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Denmark amounted to +6.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Chile (+35.9% per year) and Panama (-10.4% per year).

Export Prices by Country

The average tapered roller bearing export price stood at $X per ton in 2021, growing by 22% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 an increase of 54%. The export price peaked at $X per ton in 2013; however, from 2014 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 Ecuador ($X per ton), while the average price for exports to Sweden ($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 Panama (+13.2%), while the prices for the other major destinations experienced more modest paces of growth.

Tapered Roller Bearing Imports

Imports into Peru

In 2021, after two years of decline, there was significant growth in supplies from abroad of tapered roller bearings, when their volume increased by 37% to X tons. Overall, total imports indicated a notable expansion from 2012 to 2021: its volume increased at an average annual rate of +3.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, tapered roller bearing imports surged to $X in 2021. Over the period under review, total imports indicated a modest expansion from 2012 to 2021: its value increased at an average annual rate of +1.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -8.9% against 2018 indices. Imports peaked at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

China (X tons), Japan (X tons) and the United States (X tons) were the main suppliers of tapered roller bearing imports to Peru, with a combined 66% share of total imports. Germany, India, Austria, Mexico, Romania, Brazil, South Korea and the United Arab Emirates lagged somewhat behind, together accounting for a further 26%.

From 2012 to 2021, the biggest increases were recorded for Mexico (with a CAGR of +37.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest tapered roller bearing suppliers to Peru were the United States ($X), Japan ($X) and Germany ($X), with a combined 63% share of total imports. These countries were followed by China, Romania, India, Austria, Mexico, Brazil, the United Arab Emirates and South Korea, which together accounted for a further 28%.

The United Arab Emirates, with a CAGR of +43.7%, recorded 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

The average tapered roller bearing import price stood at $X per ton in 2021, stabilizing at the previous year. In general, the import price, however, showed a slight setback. The pace of growth was the most pronounced in 2016 an increase of 17%. The import price peaked at $X per ton in 2017; however, from 2018 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was Romania ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+16.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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