U.S.: Ball Bearing Parts Market 2024

Ball Bearing Parts Market Size in the U.S.

After two years of decline, the U.S. ball bearing parts market increased by 19% to $X in 2021. Over the period under review, consumption, however, saw a relatively flat trend pattern. Ball bearing parts consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Ball Bearing Parts Production in the U.S.

In value terms, ball bearing parts production shrank to $X in 2021. Over the period under review, production saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the production volume increased by 33%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Ball Bearing Parts Exports

Exports from the U.S.

In 2021, overseas shipments of parts of ball or roller bearings were finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. In general, exports, however, recorded a perceptible decline. The growth pace was the most rapid in 2018 when exports increased by 22% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

In value terms, ball bearing parts exports soared to $X in 2021. Overall, exports, however, showed a relatively flat trend pattern. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

Exports by Country

Mexico (X tons), Canada (X tons) and Russia (X tons) were the main destinations of ball bearing parts exports from the United States, with a combined 68% share of total exports. China, Brazil, Chile, France, India, the UK, Singapore, South Africa, South Korea and Australia lagged somewhat behind, together accounting for a further 20%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Chile (with a CAGR of +13.9%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for ball bearing parts exported from the United States were Mexico ($X), Canada ($X) and Russia ($X), together comprising 59% of total exports. These countries were followed by China, Chile, Brazil, France, the UK, India, Singapore, Australia, South Korea and South Africa, which together accounted for a further 26%.

In terms of the main countries of destination, Chile, with a CAGR of +17.6%, recorded the highest growth rate of 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 ball bearing parts export price amounted to $X per ton, picking up by 1.9% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.2%. The pace of growth was the most pronounced in 2020 an increase of 31% against the previous year. The export price peaked 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, amid the top suppliers, the country with the highest price was Australia ($X per ton), while the average price for exports to Mexico ($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 Australia (+12.4%), while the prices for the other major destinations experienced more modest paces of growth.

Ball Bearing Parts Imports

Imports into the U.S.

In 2021, after three years of decline, there was significant growth in purchases abroad of parts of ball or roller bearings, when their volume increased by 52% to X tons. The total import volume increased at an average annual rate of +1.0% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Imports peaked at X tons in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

In value terms, ball bearing parts imports surged to $X in 2021. Overall, imports, however, recorded a relatively flat trend pattern. Imports peaked at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Japan (X tons) constituted the largest supplier of ball bearing parts to the United States, accounting for a 43% share of total imports. Moreover, ball bearing parts imports from Japan exceeded the figures recorded by the second-largest supplier, China (X tons), twofold. The third position in this ranking was held by India (X tons), with a 17% share.

From 2012 to 2021, the average annual growth rate of volume from Japan amounted to -2.0%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+4.8% per year) and India (+11.4% per year).

In value terms, Japan ($X) constituted the largest supplier of parts of ball or roller bearings to the United States, comprising 34% of total imports. The second position in the ranking was taken by India ($X), with a 15% share of total imports. It was followed by China, with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Japan stood at -4.8%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+6.4% per year) and China (+1.4% per year).

Import Prices by Country

The average ball bearing parts import price stood at $X per ton in 2021, falling by -5.4% against the previous year. In general, the import price recorded a slight decline. The most prominent rate of growth was recorded in 2019 when the average import price increased by 11%. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (+20.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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