U.S.: Ball Bearing Market 2024

Ball Bearing Market Size in the U.S.

The U.S. ball bearing market was estimated at $X in 2021, picking up by 12% against the previous year. Over the period under review, consumption continues to indicate a relatively flat trend pattern. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Ball Bearing Production in the U.S.

In value terms, ball bearing production amounted to $X in 2021. Overall, production, however, recorded a mild downturn. The growth pace was the most rapid in 2017 when the production volume increased by 2.1% against the previous year. Ball bearing production peaked at $X in 2014; however, from 2015 to 2021, production stood at a somewhat lower figure.

Ball Bearing Exports

Exports from the U.S.

For the fourth consecutive year, the United States recorded decline in shipments abroad of ball bearings, which decreased by -36.5% to X tons in 2021. Overall, exports faced a precipitous decrease. The pace of growth was the most pronounced in 2014 with an increase of 15%. The exports peaked at X tons in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

In value terms, ball bearing exports rose notably to $X in 2021. In general, exports showed a relatively flat trend pattern. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Mexico (X tons) was the main destination for ball bearing exports from the United States, accounting for a 35% share of total exports. Moreover, ball bearing exports to Mexico exceeded the volume sent to the second major destination, Canada (X tons), fourfold. The third position in this ranking was taken by China (X tons), with a 5.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Mexico amounted to -16.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (-31.2% per year) and China (-18.1% per year).

In value terms, the largest markets for ball bearing exported from the United States were Mexico ($X), Canada ($X) and China ($X), with a combined 50% share of total exports. Germany, Japan, the UK, South Korea, Brazil, Australia, Taiwan (Chinese), the United Arab Emirates, Switzerland and Guatemala lagged somewhat behind, together comprising a further 26%.

In terms of the main countries of destination, South Korea, with a CAGR of +8.5%, 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 ball bearing export price stood at $X per ton in 2021, increasing by 75% against the previous year. Over the period under review, the export price saw significant growth. The most prominent rate of growth was recorded in 2020 when the average export price increased by 388%. Over the period under review, the average export prices hit record highs in 2021 and is expected to retain growth in the near future.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Canada ($X per ton), while the average price for exports to Guatemala ($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 Canada (+37.9%), while the prices for the other major destinations experienced more modest paces of growth.

Ball Bearing Imports

Imports into the U.S.

In 2021, purchases abroad of ball bearings was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. In general, imports, however, continue to indicate a relatively flat trend pattern. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, ball bearing imports soared to $X in 2021. Overall, imports showed a relatively flat trend pattern. Over the period under review, imports reached the maximum at $X in 2018; afterwards, it flattened through to 2021.

Imports by Country

In 2021, China (X tons) constituted the largest ball bearing supplier to the United States, with a 56% share of total imports. Moreover, ball bearing imports from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), fourfold. Mexico (X tons) ranked third in terms of total imports with a 4.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +1.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-2.9% per year) and Mexico (+6.2% per year).

In value terms, China ($X), Japan ($X) and Canada ($X) constituted the largest ball bearing suppliers to the United States, with a combined 59% share of total imports. Germany, Mexico, South Korea, Thailand, Slovakia, Taiwan (Chinese) and Romania lagged somewhat behind, together comprising a further 21%.

Thailand, with a CAGR of +5.2%, saw the highest growth rate of 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 ball bearing import price stood at $X per ton in 2021, approximately mirroring the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.3%. The pace of growth was the most pronounced in 2020 an increase of 13% against the previous year. Over the period under review, average import prices hit record highs in 2021 and is expected to retain growth in years to come.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Slovakia (+12.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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