U.S.: Needle Roller Bearing Market 2024

Needle Roller Bearing Market Size in the U.S.

The U.S. needle roller bearing market skyrocketed to $X in 2021, jumping by 30% against the previous year. Overall, consumption posted prominent growth. Needle roller bearing consumption peaked in 2021 and is likely to see gradual growth in years to come.

Needle Roller Bearing Production in the U.S.

In value terms, needle roller bearing production rose significantly to $X in 2021. Over the period under review, production enjoyed a buoyant expansion. The most prominent rate of growth was recorded in 2017 when the production volume increased by 51%. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Needle Roller Bearing Exports

Exports from the U.S.

In 2021, the amount of needle roller bearings exported from the United States skyrocketed to X tons, growing by 22% against 2020 figures. Over the period under review, exports continue to indicate a modest expansion. The most prominent rate of growth was recorded in 2015 with an increase of 49%. Over the period under review, the exports attained the peak figure at X tons in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

In value terms, needle roller bearing exports surged to $X in 2021. Overall, total exports indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +5.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Mexico (X tons) was the main destination for needle roller bearing exports from the United States, with a 50% share of total exports. Moreover, needle roller bearing exports to Mexico exceeded the volume sent to the second major destination, China (X tons), fourfold. Germany (X tons) ranked third in terms of total exports with a 7.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Mexico amounted to +11.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+4.6% per year) and Germany (-5.3% per year).

In value terms, Mexico ($X) remains the key foreign market for needle roller bearing exports from the United States, comprising 34% of total exports. The second position in the ranking was taken by Canada ($X), with a 14% share of total exports. It was followed by China, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Mexico amounted to +11.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (+0.8% per year) and China (+8.3% per year).

Export Prices by Country

The average needle roller bearing export price stood at $X per ton in 2021, flattening at the previous year. Overall, the export price continues to indicate a moderate expansion. The growth pace was the most rapid in 2020 an increase of 76% against the previous year. Over the period under review, the average export prices hit record highs in 2021 and is likely to continue growth in years to come.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was the UK ($X per ton), while the average price for exports to Hong Kong SAR ($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 the UK (+22.9%), while the prices for the other major destinations experienced more modest paces of growth.

Needle Roller Bearing Imports

Imports into the U.S.

In 2021, after three years of decline, there was significant growth in supplies from abroad of needle roller bearings, when their volume increased by 56% to X tons. Overall, total imports indicated noticeable growth from 2012 to 2021: its volume increased at an average annual rate of +2.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Imports peaked at X tons in 2017; however, from 2018 to 2021, imports failed to regain momentum.

In value terms, needle roller bearing imports surged to $X in 2021. Over the period under review, imports continue to indicate a relatively flat trend pattern. Imports peaked at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Japan (X tons), China (X tons) and Germany (X tons) were the main suppliers of needle roller bearing imports to the United States, with a combined 77% share of total imports. Slovakia, South Korea, Canada, India and Mexico lagged somewhat behind, together accounting for a further 21%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Slovakia (with a CAGR of +17.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), China ($X) and Mexico ($X) appeared to be the largest needle roller bearing suppliers to the United States, together accounting for 59% of total imports. These countries were followed by Germany, South Korea, Slovakia, Canada and India, which together accounted for a further 37%.

South Korea, with a CAGR of +23.0%, recorded 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 2021, the average needle roller bearing import price amounted to $X per ton, shrinking by -12.8% against the previous year. Overall, the import price saw a mild decline. The most prominent rate of growth was recorded in 2018 when the average import price increased by 18%. Over the period under review, average import prices hit record highs at $X per ton in 2020, and then reduced in the following year.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mexico (+26.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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