U.S.: Tools For Bearing Market 2024

Tools For Bearing Market Size in the U.S.

The U.S. tools for bearing market amounted to $X in 2022, approximately reflecting the previous year. In general, the total consumption indicated a tangible expansion from 2012 to 2022: its value 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. Based on 2022 figures, consumption decreased by +0.9% against 2019 indices. Over the period under review, the market hit record highs in 2022 and is likely to see gradual growth in the near future.

Tools For Bearing Production in the U.S.

In value terms, tools for bearing production reduced slightly to $X in 2022. Over the period under review, the total production indicated a tangible expansion from 2012 to 2022: its value increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -2.2% against 2019 indices. The pace of growth appeared the most rapid in 2018 when the production volume increased by 30% against the previous year. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Tools For Bearing Exports

Exports from the U.S.

In 2022, overseas shipments of balls, needles and rollers for ball or roller bearings increased by 2.1% to X tons, rising for the second year in a row after three years of decline. In general, exports, however, showed a perceptible decrease. The pace of growth appeared the most rapid in 2021 when exports increased by 10% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, tools for bearing exports rose markedly to $X in 2022. Overall, exports, however, continue to indicate a mild reduction. The most prominent rate of growth was recorded in 2014 with an increase of 8.8%. Over the period under review, the exports reached the peak figure at $X in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

Exports by Country

Mexico (X tons) was the main destination for tools for bearing exports from the United States, accounting for a 40% share of total exports. Moreover, tools for bearing exports to Mexico exceeded the volume sent to the second major destination, India (X tons), threefold. Chile (X tons) ranked third in terms of total exports with a 6.8% share.

From 2012 to 2022, the average annual growth rate of volume to Mexico was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: India (-4.6% per year) and Chile (+28.6% per year).

In value terms, Mexico ($X) remains the key foreign market for balls, needles and rollers for ball or roller bearings exports from the United States, comprising 37% of total exports. The second position in the ranking was taken by Canada ($X), with a 15% share of total exports. It was followed by India, with a 7.2% share.

From 2012 to 2022, the average annual growth rate of value to Mexico totaled +3.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (-1.2% per year) and India (-3.0% per year).

Export Prices by Country

The average tools for bearing export price stood at $X per ton in 2022, surging by 3% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.9%. The growth pace was the most rapid in 2019 when the average export price increased by 12% against the previous year. The export price peaked in 2022 and is likely to see steady growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Canada ($X per ton), while the average price for exports to Belgium ($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 Canada (+17.1%), while the prices for the other major destinations experienced more modest paces of growth.

Tools For Bearing Imports

Imports into the U.S.

In 2022, supplies from abroad of balls, needles and rollers for ball or roller bearings increased by 27% to X tons, rising for the second consecutive year after two years of decline. In general, imports saw a mild expansion. The most prominent rate of growth was recorded in 2021 when imports increased by 34% against the previous year. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the immediate term.

In value terms, tools for bearing imports skyrocketed to $X in 2022. The total import value increased at an average annual rate of +1.6% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 28%. Over the period under review, imports reached the maximum in 2022 and are likely to continue growth in years to come.

Imports by Country

India (X tons), China (X tons) and Japan (X tons) were the main suppliers of tools for bearing imports to the United States, with a combined 65% share of total imports. Poland, Germany, Spain and Sweden lagged somewhat behind, together accounting for a further 27%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Sweden (with a CAGR of +43.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest tools for bearing suppliers to the United States were India ($X), China ($X) and Japan ($X), with a combined 54% share of total imports. Germany, Poland, Sweden and Spain lagged somewhat behind, together comprising a further 31%.

Sweden, with a CAGR of +34.8%, saw the highest rates of growth with regard to the value of imports, among 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 2022, the average tools for bearing import price amounted to $X per ton, declining by -5.7% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2013 when the average import price increased by 8.4% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2019; however, from 2020 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+1.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :