Uruguay: Tapered Roller Bearing Market 2024

Tapered Roller Bearing Market Size in Uruguay

The Uruguayan tapered roller bearing market skyrocketed to $X in 2021, surging by 21% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, showed a noticeable reduction. Tapered roller bearing consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Tapered Roller Bearing Exports

Exports from Uruguay

In 2021, shipments abroad of tapered roller bearings was finally on the rise to reach X kg after two years of decline. Overall, exports, however, recorded a abrupt setback. The growth pace was the most rapid in 2018 with an increase of 876% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

In value terms, tapered roller bearing exports fell notably to $X in 2021. Over the period under review, exports, however, showed a abrupt setback. The pace of growth was the most pronounced in 2018 when exports increased by 536%. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

Brazil (X kg) was the main destination for tapered roller bearing exports from Uruguay, with a 94% share of total exports. It was followed by Paraguay (X kg), with a 2.3% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to Brazil stood at +32.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Paraguay (-22.1% per year) and Argentina (-30.9% per year).

In value terms, Brazil ($X) emerged as the key foreign market for tapered roller bearings exports from Uruguay, comprising 85% of total exports. The second position in the ranking was taken by Paraguay ($X), with a 4.5% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Brazil amounted to +20.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Paraguay (-26.5% per year) and Argentina (-28.1% per year).

Export Prices by Country

In 2021, the average tapered roller bearing export price amounted to $X per ton, falling by -55.6% against the previous year. Overall, the export price saw a deep contraction. The most prominent rate of growth was recorded in 2014 when the average export price increased by 41% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2016; however, from 2017 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Argentina ($X per ton), while the average price for exports to Brazil ($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 United States (+27.3%), while the prices for the other major destinations experienced more modest paces of growth.

Tapered Roller Bearing Imports

Imports into Uruguay

In 2021, approx. X tons of tapered roller bearings were imported into Uruguay; with an increase of 28% compared with 2020 figures. In general, imports, however, continue to indicate a pronounced curtailment. The pace of growth appeared the most rapid in 2017 with an increase of 30% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, tapered roller bearing imports soared to $X in 2021. Overall, imports, however, showed a pronounced setback. Imports peaked at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest tapered roller bearing supplier to Uruguay, with a 34% share of total imports. Moreover, tapered roller bearing imports from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), threefold. The third position in this ranking was taken by Brazil (X tons), with a 9.6% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled +10.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-5.2% per year) and Brazil (-17.4% per year).

In value terms, the largest tapered roller bearing suppliers to Uruguay were China ($X), Japan ($X) and the United States ($X), with a combined 54% share of total imports. These countries were followed by Brazil, the Czech Republic, Germany, the United Arab Emirates, Spain, Austria, Singapore, India, Poland and Slovakia, which together accounted for a further 37%.

The United Arab Emirates, with a CAGR of +60.7%, saw 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 tapered roller bearing import price amounted to $X per ton, with a decrease of -6.8% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2013 an increase of 19% against the previous year. The import price peaked at $X per ton in 2015; however, from 2016 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+10.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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