Report Update Nov 1, 2024

Venezuela - Ball Bearings - Market Analysis, Forecast, Size, Trends and Insights

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Venezuela: Ball Bearing Market 2024

Ball Bearing Market Size in Venezuela

For the third year in a row, the Venezuelan ball bearing market recorded decline in sales value, which decreased by -18.4% to $X in 2021. Over the period under review, consumption recorded a sharp contraction. The growth pace was the most rapid in 2018 when the market value increased by 4.8% against the previous year. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Ball Bearing Exports

Exports from Venezuela

In 2021, overseas shipments of ball bearings were finally on the rise to reach X tons after two years of decline. In general, exports showed strong growth. The most prominent rate of growth was recorded in 2018 with an increase of 619%. As a result, the exports reached the peak of X tons. From 2019 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, ball bearing exports soared to $X in 2021. Over the period under review, exports, however, showed a perceptible setback. The most prominent rate of growth was recorded in 2018 with an increase of 754%. As a result, the exports reached the peak of $X. From 2019 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Malaysia (X kg), Colombia (X kg) and Ecuador (X kg) were the main destinations of ball bearing exports from Venezuela, with a combined 72% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Ecuador (with a CAGR of +92.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Malaysia ($X), Ecuador ($X) and the United States ($X) were the largest markets for ball bearing exported from Venezuela worldwide, with a combined 74% share of total exports.

In terms of the main countries of destination, Ecuador, with a CAGR of +96.4%, recorded the highest rates of growth with regard to 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

The average ball bearing export price stood at $X per ton in 2021, rising by 5.6% against the previous year. Over the period under review, the export price, however, recorded a deep setback. The pace of growth appeared the most rapid in 2018 an increase of 19%. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Panama ($X per ton), while the average price for exports to Costa Rica ($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 Panama (+10.0%), while the prices for the other major destinations experienced mixed trend patterns.

Ball Bearing Imports

Imports into Venezuela

In 2021, the amount of ball bearings imported into Venezuela contracted to X tons, which is down by -7.8% on the previous year's figure. Overall, imports continue to indicate a precipitous curtailment. The growth pace was the most rapid in 2018 when imports increased by 44%. Over the period under review, imports reached the maximum at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, ball bearing imports dropped significantly to $X in 2021. In general, imports continue to indicate a sharp shrinkage. The smallest decline of -4.5% was in 2018. Imports peaked at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

China (X tons), Hong Kong SAR (X tons) and Sweden (X tons) were the main suppliers of ball bearing imports to Venezuela, together accounting for 85% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Hong Kong SAR (with a CAGR of -5.0%), while imports for the other leaders experienced a decline.

In value terms, the largest ball bearing suppliers to Venezuela were Sweden ($X), China ($X) and Hong Kong SAR ($X), with a combined 65% share of total imports.

Among the main suppliers, Hong Kong SAR, with a CAGR of -4.3%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average ball bearing import price stood at $X per ton in 2021, shrinking by -18.7% against the previous year. Over the period under review, the import price saw a abrupt setback. The most prominent rate of growth was recorded in 2014 when the average import price increased by 28% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2017; however, from 2018 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was Japan ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Panama (+3.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for ball bearings in the world?

The country with the largest volume of ball bearing consumption was China, comprising approx. 30% of total volume. Moreover, ball bearing consumption in China exceeded the figures recorded by the second-largest consumer, India, threefold. The United States ranked third in terms of total consumption with an 8.5% share.

What are the largest producers of ball bearings in the world?

China constituted the country with the largest volume of ball bearing production, accounting for 36% of total volume. Moreover, ball bearing production in China exceeded the figures recorded by the second-largest producer, India, threefold. The third position in this ranking was occupied by Japan, with a 10% share.

What are the leading suppliers of ball bearings to Venezuela?

In value terms, the largest ball bearing suppliers to Venezuela were China, Panama and South Korea, together comprising 66% of total imports. These countries were followed by Uruguay, which accounted for a further 2.2%.

What are the leading importers of ball bearings from Venezuela?

In value terms, Panama remains the key foreign market for ball bearing exports from Venezuela, comprising 68% of total exports. The second position in the ranking was occupied by Ecuador $323), with a 12% share of total exports. It was followed by the United States, with an 8.3% share.

What is the average export price for ball bearings in Venezuela?

The average ball bearing export price stood at $21,765 per ton in 2020, rising by 9.8% against the previous year.

What is the average import price for ball bearings in Venezuela?

In 2020, the average ball bearing import price amounted to $10,448 per ton, rising by 8.3% against the previous year.

This report provides an in-depth analysis of the ball bearing market in Venezuela. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 28151030 - Ball bearings

Country coverage:

Venezuela

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Venezuela
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023