Uruguay: Roller Bearing Market 2024

Roller Bearing Market Size in Uruguay

The Uruguayan roller bearing market was finally on the rise to reach $X in 2022, after two years of decline. In general, the total consumption indicated slight growth from 2012 to 2022: its value increased at an average annual rate of +1.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the peak level at $X in 2015; however, from 2016 to 2022, consumption stood at a somewhat lower figure.

Roller Bearing Exports

Exports from Uruguay

In 2022, after two years of growth, there was significant decline in shipments abroad of roller bearings, when their volume decreased by -99.5% to X kg. Overall, exports showed a dramatic slump. The most prominent rate of growth was recorded in 2020 with an increase of 1,436% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2021, and then reduced sharply in the following year.

In value terms, roller bearing exports shrank remarkably to $X in 2022. In general, exports continue to indicate a abrupt descent. The most prominent rate of growth was recorded in 2018 when exports increased by 586%. Over the period under review, the exports attained the peak figure at $X in 2021, and then fell rapidly in the following year.

Exports by Country

China represented the major exporting country with an export of about X tons, which reached 43% of total exports. Singapore (X tons) ranks second in terms of the total exports with a 9.7% share, followed by Germany (7.2%), France (6.9%), Slovakia (5.4%) and the United States (0.8%). The following exporters - Italy (X tons), South Korea (X tons), Indonesia (X tons), Hong Kong SAR (X tons), Turkey (X tons), Austria (X tons) and Romania (X tons) - together made up 14% of total exports.

From 2012 to 2022, average annual rates of growth with regard to roller bearing exports from China stood at +22.6%. At the same time, Indonesia (+35.7%), Turkey (+8.5%), Singapore (+1.2%) and Slovakia (+1.1%) displayed positive paces of growth. Moreover, Indonesia emerged as the fastest-growing exporter exported in the world, with a CAGR of +35.7% from 2012-2022. By contrast, Italy (-1.9%), Germany (-2.0%), France (-2.2%), South Korea (-9.7%), Hong Kong SAR (-13.7%), the United States (-18.4%), Austria (-22.3%) and Romania (-22.4%) illustrated a downward trend over the same period. China (+37 p.p.) and Indonesia (+2.2 p.p.) significantly strengthened its position in terms of the global exports, while Italy, Germany, France, Romania, Hong Kong SAR, South Korea, the United States and Austria saw its share reduced by -1.5%, -2.6%, -2.7%, -4.9%, -6%, -6.3%, -6.4% and -7.2% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X), Singapore ($X) and Germany ($X) appeared to be the countries with the highest levels of exports in 2022, together comprising 45% of total exports. Italy, the United States, France, Hong Kong SAR, Slovakia, South Korea, Austria, Turkey, Indonesia and Romania lagged somewhat behind, together accounting for a further 31%.

Indonesia, with a CAGR of +16.1%, recorded the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Uruguay stood at $X per ton in 2022, rising by 838% against the previous year. Over the period under review, the export price continues to indicate a prominent expansion. The Uruguay export price peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the United States ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+16.3%), while the other leaders experienced more modest paces of growth.

Roller Bearing Imports

Imports into Uruguay

Roller bearing imports into Uruguay skyrocketed to X tons in 2022, with an increase of 43% compared with the previous year. In general, total imports indicated perceptible growth from 2012 to 2022: its volume increased at an average annual rate of +3.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -2.1% against 2020 indices. The pace of growth was the most pronounced in 2015 when imports increased by 56%. As a result, imports attained the peak of X tons. From 2016 to 2022, the growth of imports remained at a lower figure.

In value terms, roller bearing imports rose markedly to $X in 2022. Over the period under review, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when imports increased by 47% against the previous year. As a result, imports reached the peak of $X. From 2016 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

Thailand (X tons) and Indonesia (X tons) were the key importers of roller bearings in 2022, finishing at approx. 17% and 15% of total imports, respectively. It was distantly followed by Germany (X tons), creating a 6.2% share of total imports. The following importers - India (X tons), Italy (X tons), Canada (X tons), Malaysia (X tons), Spain (X tons), South Korea (X tons), France (X tons), Singapore (X tons), Poland (X tons) and Austria (X tons) - together made up 25% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Thailand (with a CAGR of +18.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X), Germany ($X) and India ($X) constituted the countries with the highest levels of imports in 2022, with a combined 24% share of total imports.

In terms of the main importing countries, Indonesia, with a CAGR of +4.2%, saw 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 import price in Uruguay stood at $X per ton in 2022, falling by -26.3% against the previous year. In general, the import price showed a pronounced shrinkage. The most prominent rate of growth was recorded in 2021 when the import price increased by 26% against the previous year. Over the period under review, import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Canada ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+6.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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