U.S.: Tapered Roller Bearing Market 2024

Tapered Roller Bearing Market Size in the U.S.

The U.S. tapered roller bearing market soared to $X in 2021, surging by 46% against the previous year. Overall, consumption saw a strong expansion. Tapered roller bearing consumption peaked in 2021 and is likely to continue growth in the immediate term.

Tapered Roller Bearing Production in the U.S.

In value terms, tapered roller bearing production skyrocketed to $X in 2021. In general, production showed a buoyant increase. The most prominent rate of growth was recorded in 2017 with an increase of 151%. Tapered roller bearing production peaked at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Tapered Roller Bearing Exports

Exports from the U.S.

In 2021, overseas shipments of tapered roller bearings decreased by -23.2% to X tons, falling for the second consecutive year after three years of growth. In general, exports continue to indicate a drastic downturn. The most prominent rate of growth was recorded in 2017 with an increase of 20% against the previous year. Over the period under review, the exports hit record highs at X tons in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

In value terms, tapered roller bearing exports rose rapidly to $X in 2021. Overall, exports saw a mild reduction. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Mexico (X tons), Canada (X tons) and France (X tons) were the main destinations of tapered roller bearing exports from the United States, with a combined 50% share of total exports. These countries were followed by Brazil, Australia, China, Singapore, South Africa, Belgium, Chile, India, Germany and the United Arab Emirates, which together accounted for a further 38%.

From 2012 to 2021, the biggest increases were recorded for the United Arab Emirates (with a CAGR of -1.6%), while shipments for the other leaders experienced a decline.

In value terms, Mexico ($X), Canada ($X) and Australia ($X) were the largest markets for tapered roller bearing exported from the United States worldwide, together comprising 50% of total exports.

Mexico, with a CAGR of +6.3%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average tapered roller bearing export price stood at $X per ton in 2021, jumping by 50% against the previous year. Over the period under review, the export price saw a remarkable increase. The most prominent rate of growth was recorded in 2020 when the average export price increased by 128%. Over the period under review, the average export prices reached the peak figure in 2021 and is likely to continue growth in years to come.

Prices varied noticeably country of destination: the country with the highest price was Chile ($X per ton), while the average price for exports to France ($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 Chile (+17.4%), while the prices for the other major destinations experienced more modest paces of growth.

Tapered Roller Bearing Imports

Imports into the U.S.

In 2021, supplies from abroad of tapered roller bearings was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Overall, imports, however, continue to indicate a relatively flat trend pattern. Over the period under review, imports hit record highs at X tons in 2015; however, from 2016 to 2021, imports remained at a lower figure.

In value terms, tapered roller bearing imports soared to $X in 2021. In general, imports, however, recorded a relatively flat trend pattern. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of tapered roller bearing to the United States, with a 43% share of total imports. Moreover, tapered roller bearing imports from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), twofold. South Korea (X tons) ranked third in terms of total imports with a 12% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to +3.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+0.8% per year) and South Korea (+8.0% per year).

In value terms, Japan ($X), China ($X) and India ($X) constituted the largest tapered roller bearing suppliers to the United States, together accounting for 55% of total imports. South Korea, Germany, Canada, Poland, Mexico, Thailand and Spain lagged somewhat behind, together accounting for a further 32%.

Among the main suppliers, Thailand, with a CAGR of +35.7%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average tapered roller bearing import price stood at $X per ton in 2021, falling by -5.3% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 an increase of 35% against the previous year. As a result, import price reached the peak level of $X per ton. From 2020 to 2021, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, 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 2021, the most notable rate of growth in terms of prices was attained by Canada (+27.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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