U.S.: Spherical Roller Bearing Market 2024

Spherical Roller Bearing Market Size in the U.S.

The U.S. spherical roller bearing market expanded remarkably to $X in 2021, picking up by 9.3% against the previous year. In general, the total consumption indicated a measured increase from 2012 to 2021: its value increased at an average annual rate of +2.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -1.5% against 2019 indices. Over the period under review, the market hit record highs at $X in 2019; afterwards, it flattened through to 2021.

Spherical Roller Bearing Production in the U.S.

In value terms, spherical roller bearing production rose to $X in 2021. In general, the total production indicated a perceptible expansion from 2012 to 2021: its value increased at an average annual rate of +2.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -2.3% against 2019 indices. The growth pace was the most rapid in 2017 with an increase of 87%. Spherical roller bearing production peaked at $X in 2019; afterwards, it flattened through to 2021.

Spherical Roller Bearing Exports

Exports from the U.S.

In 2021, shipments abroad of spherical roller bearings decreased by -38.4% to X tons, falling for the fourth year in a row after three years of growth. In general, exports faced a abrupt curtailment. The growth pace was the most rapid in 2017 when exports increased by 27%. As a result, the exports reached the peak of X tons. From 2018 to 2021, the growth of the exports failed to regain momentum.

In value terms, spherical roller bearing exports declined to $X in 2021. Over the period under review, exports continue to indicate a perceptible contraction. The growth pace was the most rapid in 2017 when exports increased by 19% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

Canada (X tons) was the main destination for spherical roller bearing exports from the United States, with a 30% share of total exports. Moreover, spherical roller bearing exports to Canada exceeded the volume sent to the second major destination, Germany (X tons), threefold. The third position in this ranking was taken by Mexico (X tons), with an 8.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Canada amounted to -13.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (-3.1% per year) and Mexico (-7.3% per year).

In value terms, Canada ($X) remains the key foreign market for spherical roller bearings exports from the United States, comprising 31% of total exports. The second position in the ranking was taken by Germany ($X), with a 9.5% share of total exports. It was followed by Brazil, with a 6.7% share.

From 2012 to 2021, the average annual growth rate of value to Canada stood at -3.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+5.1% per year) and Brazil (+2.6% per year).

Export Prices by Country

In 2021, the average spherical roller bearing export price amounted to $X per ton, with an increase of 42% against the previous year. In general, the export price enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2020 when the average export price increased by 96%. Over the period under review, the average export prices reached the maximum in 2021 and is expected to retain growth in the near future.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Belgium ($X per ton), while the average price for exports to Mexico ($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 Belgium (+20.0%), while the prices for the other major destinations experienced more modest paces of growth.

Spherical Roller Bearing Imports

Imports into the U.S.

In 2021, the amount of spherical roller bearings imported into the United States stood at X tons, increasing by 12% on the previous year's figure. Over the period under review, imports, however, continue to indicate a perceptible descent. The pace of growth appeared the most rapid in 2018 with an increase of 38% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, spherical roller bearing imports expanded sharply to $X in 2021. Overall, imports, however, showed a noticeable decrease. The pace of growth appeared the most rapid in 2018 with an increase of 13%. As a result, imports reached the peak of $X. From 2019 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, Japan (X tons) constituted the largest spherical roller bearing supplier to the United States, with a 44% share of total imports. Moreover, spherical roller bearing imports from Japan exceeded the figures recorded by the second-largest supplier, China (X tons), twofold. The UK (X tons) ranked third in terms of total imports with an 11% share.

From 2012 to 2021, the average annual growth rate of volume from Japan stood at +3.8%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-5.3% per year) and the UK (+6.2% per year).

In value terms, the largest spherical roller bearing suppliers to the United States were Germany ($X), Japan ($X) and Sweden ($X), together comprising 55% of total imports. China, the UK, Romania, Italy and Mexico lagged somewhat behind, together accounting for a further 33%.

Italy, with a CAGR of +5.6%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average spherical roller bearing import price stood at $X per ton in 2021, declining by -4.7% against the previous year. Over the last nine years, it increased at an average annual rate of +1.7%. The growth pace was the most rapid in 2020 when the average import price increased by 48%. As a result, import price attained the peak level of $X per ton, and then declined modestly 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 Sweden ($X per ton), while the price for Mexico ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sweden (+24.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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